{"id":81391,"date":"2020-01-14T06:00:18","date_gmt":"2020-01-14T14:00:18","guid":{"rendered":"https:\/\/oroinc.com\/b2b-ecommerce\/?p=81391"},"modified":"2023-03-27T05:34:48","modified_gmt":"2023-03-27T12:34:48","slug":"a-modern-erp-for-manufacturing-the-must-have-technology-for-2020","status":"publish","type":"post","link":"https:\/\/oroinc.com\/b2b-ecommerce\/blog\/a-modern-erp-for-manufacturing-the-must-have-technology-for-2020\/","title":{"rendered":"A Modern ERP in Manufacturing: All You Need to Know | OroCommerce"},"content":{"rendered":"

A modern enterprise resource planning (ERP) solution is essential for any manufacturer moving into the new decade. As doing business of any sort gets more complex, you must have reliable technology to manage your business functions in one centralized system. That’ where an ERP for manufacturing comes in.<\/span><\/p>\n

Manufacturers were some of the earliest adopters of ERP technology. They needed a digital solution to manage supply chains, production schedules, and inventory while keeping people and assets connected. In fact <\/span>manufacturers dominated the ERP solution market<\/span><\/a> in 2018 and the global ERP market is estimated to be $41.69 billion this year. It\u2019s no surprise that the greatest growth is forecast to come from aerospace and defense. But where an ERP might have been a stand-alone solution in the past, today\u2019s modern ERP is a key part of the <\/span>company\u2019s digital transformation<\/span><\/a>. <\/span><\/p>\n

You can\u2019t put the customer at the center of the company if you can\u2019t manage to successfully manufacture the product the customer wants. So, today\u2019s ERP solutions for manufacturers are very different from past iterations. Here\u2019s a look at the features you\u2019ll find in the best ERP for manufacturing. We\u2019ll also kick the tires on a few of the top-rated ERP solutions for manufacturing and summarize the benefits of each.\u00a0<\/span><\/p>\n

The Right ERP for Manufacturing is Essential<\/span><\/h2>\n

Your ERP impacts your productivity, shipping, purchasing, human resources management and more. As a result, the ERP you use has an impact on your bottom line. Your ERP should streamline workflows, reduce inventory overages, improve production schedules, create reliable product delivery schedules, and assist with quality control through the ability to track parts to purchases all while improving your cash flow and helping you stay in compliance with laws and regulations. It\u2019s a big job. According to <\/span>Panorama Consulting<\/span><\/a>, 64% of companies that adopt an ERP do so to improve performance while 57% are positioning themselves for growth. The good news is that 95% of those same businesses surveyed realized improvement in their processes after post-ERP implementation.\u00a0<\/span><\/p>\n

So apart from features, what do manufacturers want in an ERP? <\/span>The Aberdeen Group<\/span><\/a> discovered ease of use at the top of the list and customization by industry on the bottom. Here\u2019s a look at the full range of what companies want:<\/span><\/p>\n

\"erp<\/p>\n

But despite the desire for an industry specific solution, it\u2019s clear that manufacturing companies need an ERP that was built with manufacturing in mind.\u00a0<\/span><\/p>\n

Best ERP for Manufacturing is Made for Manufacturing<\/span><\/h2>\n

And when it comes to ERP solutions for manufacturing, the best ERP for manufacturing is designed for the use of manufacturers. The needs of retail and wholesale companies differ from manufacturing. Their ERPs should be different as well. The best ERP system for manufacturing allows you to easily differentiate between make to stock and make to order processes and configures engineer to order and configure to order environments as well. But that\u2019s just the start. An ERP solution for manufacturing should facilitate:<\/span><\/p>\n