Businesses looking to improve efficiency and reduce operating costs often focus on supply chain improvements. In 2019, that means taking a closer look at integrating new technologies, providing more transparency and changes in customer channels.
To achieve optimal supply chain management, businesses need the right enterprise resource planning software solution. Here’s a look at 4 supply chain trends and how the right ERP helps businesses prepare.
1. Increased transparency. Business leaders today need real-time analytics and reports on the state of operations. To achieve this level of detail, companies need data transparency at all stages of the supply chain, driven by an ERP that collects and presents data in the moment of need. Visibility allows leaders to respond to problems faster, anticipate and prevent issues, and gain short- and long-term insights.
2. New customer channels. Businesses across industries are shifting from retail channels to direct-to-consumer selling. That means having a different approach to supply chains, including accurate inventory and distribution systems integrated with sales, marketing and customer service. The right ERP provides those system and data integrations to delight customers. That means added pressure on employees and drivers to increase perfect-order rates, with deliveries arriving on time to the right location and with the right contents.
3. Integrated technologies. Companies continue to need ERP solutions that use and integrate emerging technology into the supply chain. Among the ERP-related technologies emerging this year are:
- Artificial intelligence. Self-learning tools need to generate, analyze, connect and report on multiple supply chain components. Data drawn from customers, objects, interactions and processes need to be available and usable within an ERP system.
- Immersive technology. Virtual and augmented realities have applications across the supply chain, from logistics to manufacturing to warehousing. Wearable tech, such as smart glasses, can feed data to and from an ERP to improve and accelerate picking and packaging.
- Data visualization. Collecting the data from the supply chain is one thing. It’s another to have the information presented and stored in your ERP in such a way that cogent decisions can be made in real time.
- Automation. As more drones, robots, chatbots and machines are used within the supply chain, there are tremendous opportunities for cost savings and faster operations. Automation needs accurate data and processes generated by your ERP to be fully effective.
4. Process flexibility. Logistics is becoming more elastic, as companies deploy flexible solutions to respond to market fluctuations and seasonal variances. That means on-demand warehousing and on-demand logistics that require accurate, updatable and configurable ERP solutions.
Choosing the right supply chain ERP
Acumatica delivers ERP solutions that serve your industry and your needs. It has won consecutive annual (2018 and 2017) SIIA CODiE Awards for Best Cloud ERP Solution, recognizing the products that display technological excellence and innovation. In 2018, it was also named Best Manufacturing Solution and two years prior was named Best Supply Chain Management Solution.
Selecting and optimizing your ERP solution requires a steady hand. At NexTec, we help companies identify ERP needs, choose the right product and implement the solution. To learn more about how NexTec and Acumatica give your business supply chain management mastery, take the Acumatica software tour.