In general, enterprise resource planning software provides advances in terms of data organization, financial efficiency and time savings for businesses that use such programs.
Warehouses implementing even a basic solution for physical inventory management can gain some significant positives in terms of reducing wasted money and effort. However, a customizable and adaptable platform can provide benefits that focus on the specific type of goods stored in such a location, like high-value or perishable goods.
WorksManagement recently highlighted the case of a United Kingdom-based potato chip manufacturer that has realized notable cost savings since implementing an ERP solution. In just one specific instance – the real-time tracking of inventory – the company is saving almost $20,000 a year by no longer having to manually take stock of available product.
Instead of dedicating time and resources to such operations and only having an accurate picture 12 times a year, consistently current information about supply levels is available through ERP.
The flexible nature of ERP solutions like Microsoft Dynamics NAV means that a NAV module focused on inventory tracking of perishables can be added more simply than with a one-size-fits-all ERP platform.
Best-in-class ERP providers are much more likely to have pathways that provide notifications about the completion or non-completion of activities and similar information about other work conditions, according to a report from Aberdeen Group. These notifications can inform decision making about a variety of concerns related to inventory management. Knowing how long a perishable item has been in stock can help determine if a price reduction or increase is necessary or beneficial, while data about total inventory and output is also very useful.
Learn how to define your ERP strategy by downloading the white paper entitled "ERP in Manufacturing: Defining the ERP Strategy" from the DMS website today.