Often, Small and Medium-sized Businesses (SMB) get their start using home-grown systems and those they’ve pieced together for specific purposes within their operations. However, as time passes and the organization grows, those same systems don’t scale and can hinder a business’ competitiveness because of poor performance. That’s where Enterprise Resource Planning (ERP) comes into the picture. An ERP system is one that integrates all your business’ essential operations into one interface, connecting the data you need to the departments that need it.
The latest component of Industry 4.0, Robotic Process Automation (RPA), maybe be an unfamiliar concept now, but soon these three words will be on the lips of operators big and small all over the world. RPA is already generating substantial revenue savings for businesses, with $50 million recovered in 2017, with a projected compound annual growth rate of more than 60% through 2026. Coupling this emerging technology with a business-centric solution like ERP systems will ensure your workforce is free to engage in the more demanding aspects of your operations, all while automation handles the rest.
There are a host of reasons why businesses ask the question: Do We Really Need an ERP solution? You may be asking yourself the very same regarding your business’ current state. For many growing enterprises, ERP is a “four-letter word”. However, operating within cobbled systems that demand attention with every little update or modification is like putting a Band-Aid on a bullet wound. This approach bleeds businesses dry. Addressing the shortcomings of siloed systems and preparing for growth before you’re inundated with orders, data, and paperwork by implementing an effective ERP solution will make all the difference.
Epicor Data Analytics (EDA) Release 7.3.0 has gone live and is now available to EDA customers. This release contains several bug fixes, new features, and key improvements. Here are the biggest takeaways to appear in the EDA 7.3.0 update. For more information on the capabilities and functionality of Epicor ERP, click the more info button below.
The new “marquee” feature for the 7.3.0 release, grid nesting allows users to create an “expand/contract” report within the EDA grid. Grouped by dimension, the nested grid will allow up to three levels of detail to be displayed. This can include everything from customer data, purchase history, and product information. Whatever data you wish to associate in the view, your preferences can be saved, added to the dashboard of your choice, or exported.
When it comes to delivering on your stakeholders’ expectations, there is only one action that defines success in the world of commerce. That is getting the right products to the right customers at the right price. Completing the trifecta while keeping costs to a minimum and efficiency to a maximum are what manufacturers, distributors, and retailers strive for. In the case of many enterprises, only a quality ERP solution can tackle each of these challenges head-on.
The commerce ecosystem, whether it be in traditionally grounded retail or exclusively an online operation, is a delicate one that relies equally on manufacturers, suppliers, and retailers to deliver the product to customers the way they want it, when they want it. Order fulfillment is the key performance indicator that illustrates when these systems are operating in harmony and out of order.
For those unfamiliar with the Craft Beverage Modernization and Tax Reform Act, the recently passed tax reform applying to alcoholic beverage manufacturers, the short of it is that the legislation offers two years of heavy relief from federal excise taxes applied to one of the most severely taxed industries in the US. So, what are craft brewers, distillers, and vintners going to do with it? For most, the word is grow.
The tax breaks will translate into substantial annual savings for these craft beverage makers, between $20,000 and $100,000 to be more precise, and allow them to hire more staff, expand operations, and invest in marketing to build their brands.
Maintenance, Repair, and Overhaul (MRO) costs can cripple a manufacturer’s bottom line, especially when the required work compounds problems by impacting production to a significant degree. Implementing a dynamic ERP solution, like Epicor ERP, can address the issue before it becomes a problem. Through an effective mix of Quality Assurance and Asset Management modules, Epicor has built a powerful solution to specifically tackle the tasks associated with maintenance management, from Small and Medium Enterprises (SME) to multinational corporations.
Whether you’re adding additional capabilities to your existing structure or have outgrown your former methodology, you are ready to explore a more robust approach to tackling the challenges of growth. ERP software, such as NetSuite ERP, can support your enterprise across all channels and scale your business.
Designed with multi-level functionality, these powerful tools can address the needs of multi-company, multi-division, multi-currency, multi-warehouse, and multi-factory operations. Everything from shipping and receiving to accounting and lot control can be optimized using an ERP solution focused on process manufacturing.