We recently came across an industry report stating that manufacturers store more data than any other sector, a finding according to researchers at McKinsey.
The report notes that manufacturers in many sectors use data to monitor the performance of machinery and equipment, as well as fine-tune maintenance routines.
When we consult with small to medium manufacturers, it’s clear that the flow of real-time data can be an asset if it is used effectively.
Many operations and production managers look to manufacturing ERP data to track quality issues and optimize supply chain operations. ERP data can also be used to improve material flow, plant layout, inventory management, production scheduling and other areas.
ERP Data Considerations
Keeping in mind the power of ERP data is an important element when assessing whether an organization is ready for a new ERP system.
We regularly advise our clients to look for technology solutions that can help them harness the power of data tracked and analyzed by ERP, and provide meaningful reports and insight in key areas.
When considering ERP data and ERP selection, we guide our clients through the following three considerations:
- How easy is data access? When comparing ERP features and functions, make sure data is easily shared throughout the organization. Reports, dashboards, performance data and other ERP data should be easily shared with key team members who have responsibility for what the data is measuring. Flexible reporting by user role is critical.
- Is it easy to align data to key performance indicators (KPIs)? Tracking production, quality and machine downtime all adds to the deluge of data a small to medium manufacturer must sift through. When that data is tied to KPIs and reported against desired metrics, it becomes more actionable and useful to the organization.
- What are data conversion requirements? During an ERP project, the team should keep in mind data conversion requirements as part of the current state review and the development of the future state process. The team should be able to identify all of the databases that will need to be converted. The documentation of the databases becomes a requirement that vendors need to address in the vendor evaluation phase.
Improve Business Decisions with ERP Data
There’s power in ERP data. Modern ERP systems easily capture, store, and trend a range of information such as quality, production, shipping, financial, supply chain activity and much more.
With access to more timely and accurate information, manufacturers can use ERP data to take action, improve decision-making and enhance overall business performance.
Contact Ultra to see how your organization can use ERP data to react to change, to maintain better relationships with customers and supply chain partners.