It’s a well-known fact, that manufacturing is one of the biggest industries in Canada, which makes up almost 12% of Canada's national GDP. The industry is still growing, and manufacturing companies need modern software to ensure maximize growth potential. Here are three more reasons why manufacturers should consider an ERP system:
1. Enhanced Communication between Departments
Communication is a crucial factor for a manufacturing company, which has tens of different departments as well as a need to work efficiently. An ERP system can ensure effective communications between departments through connecting an entire company into one unified system.
2. Automated Processes
It’s no secret that manufacturing companies have complex operations. The bigger the company becomes – the more complex its operations are. ERP software becomes a need rather than a want because it automates daily tasks and provides accurate information to simplify business operations, like managing production orders, calculating costs or managing different versions of the manufacturing bills of materials.
3. Better Decision Making
An ERP system acquires tons of data to provide a decision-maker with useful insights. Available reports, KPIs, and forecasting features make the process of decision making much faster and more reliable. Moreover, you can personalize the information that you're getting from an ERP system to get the most accurate insights for your business.
Microsoft Dynamics NAV provides all needed features for a manufacturing company to improve its business processes. Learn more about Microsoft Dynamics NAV here.
Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner
With increasing demand for manufacturing firms to provide quality and efficient service, ERP software implementation can help a company stand out from its competitors by providing them with the resources to maximize their operational efficiency. Thanks to Microsoft Dynamics NAV, manufacturing companies are better equipped to:
1. Generate Product Demand Forecasts
With its robust record keeping capabilities, NAV enables users to analyze sales patterns to anticipate future client needs. This function analyzes sales trends and determines which products are most likely be sold in the future, allowing companies to manage their inventory accordingly and ensure product availability for customers.
2. Improved Information Tracking
NAV can generate analysis reports that allow for uniform reporting, enabling users to create personalized report formats that highlight key account information. As a result, information is more accessible, enabling up-to-date inventory information and optimizing manufacturing and warehousing functionality.
3. Controlling On-Time Delivery
By tracking product quantities in inventory, planned production times, product transfers and sales returns, NAV provides manufacturers the ability to generate realistic timelines and create accurate promises to customers on when they can expect to receive their product.
4. Financial Savings
Due to poor organization, companies are often required to spend more time and money reviewing and double checking for mistakes and system errors. By enhancing operational precision, the amount of overtime required to correct mistakes as well as costs related to additional labour expenses is significantly reduced. information regarding production expenses will also be readily available to managers, allowing them to identify areas of potential savings or eliminate unnecessary expenses.
These are but a few key benefits that Microsoft Dynamics NAV can provide for manufacturing companies. For a more thorough explanation on the capabilities of Microsoft Dynamics NAV, click here to visit our YouTube channel or contact us today to learn which ERP product can best suit your company’s needs.
Heimdall Sham, Digital Content Creator, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence