Cloud ERP (Enterprise Resource Planning) innovation has been one of the most important components moving manufacturing into the future. In fact, International Data Corporation (IDC) reports that 60% of small and medium businesses say the cloud plays a critical role in giving them an advantage over competitors.
The cloud and its advantages across all industries is completely disrupting the current traditional manufacturing ecosystem and will be the most important ERP development for manufacturers over the next 10 years. Here are 5 reasons why forward-thinking companies should take advantage of a Cloud ERP today.
- Improved Productivity – A Cloud ERP gives instant access and real-time data for any team member anywhere in an organization. As staff roles become more specialized and distributed teams become more common, a Cloud ERP encourages communication, makes it easier to collaborate and synchronizes data across any network.
- Scalability – Budget is a concern for every business but especially critical for growing companies. Moving ERP to the vendor side rather than client side, allows significant savings and reductions in local hardware investments, on-going maintenance and IT support costs. A good industry specific Cloud ERP can also provide custom levels of feature integration and grow as the client grows, adding necessary features as a company scales up.
- Big Data – Cloud ERPs have storage capacity for huge amounts of data, redundancies for hardware failures, and Big Data analytics for highly detailed reporting, sales forecasting, inventory control and market analysis that can guide profitable merchandising opportunities while managing the entire supply chain.
- Flexibility – The inherent flexibility in cloud computing means that further upgrades, integrations and feature additions are hassle free for clients. As a company’s processes evolve and their industries change, so too can their Cloud ERP system. Manufacturers are a natural fit for Cloud ERP solutions because they connect and streamline all core business systems from supply chain and logistics to shipping and delivery.
- Profit Maximization – Full featured, industry specific Cloud ERP solutions control and reduce inventories and make accurate sales and component restock forecasts to prevent non-moving stock and over/under production. They also feature advanced merchandising features including consumer personalization options that can flexibly and quickly respond to changing market demands for less waste and better sales.
Today’s quickly evolving market and changing consumer desires are driving big changes in manufacturing for fashion and luxury brands. The cost of not evolving to meet these new market demands are being felt industry-wide. Companies that are taking advantage of the newest technologies, especially those tailored specifically for their businesses are creating important competitive advantages that allow them to survive and thrive.
By eliminating wasted time and inefficiencies inherent to less robust traditional ERPs and other enterprise systems, smart brands can better focus on their core competencies, marketing and business growth.
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