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How can the manufacturing industry use ERP systems to streamline processes?

In the fast-paced and ever-evolving manufacturing industry, small and medium-sized enterprises (SMEs) face unique challenges in managing their operations efficiently while staying competitive.  

The manufacturing industry faces some weighty challenges in 2023 and beyond (we’re talking supply chain issues). 

The good news is that software is improving to help small businesses make up for these challenges with real-time data that allows SMEs to plan ahead and make informed decisions that will help your business stay afloat through rougher waters.

In this blog you’ll learn about: 

  1. The common challenges faced by the manufacturing industry 
  2. How manufacturing businesses benefit from ERP software
  3. Investing in, and implementing, ERP software 

Let’s get started. 

The common challenges the manufacturing industry faces? 

If you’re in the industry, you may already know what your biggest challenges are. 

Some of the biggest struggles manufacturing businesses face this year – and probably for at least a few years to come – are: 

  • Shortages on labour 
  • Supply chain issues and frequent disruption 
  • Inflation costs 
  • Ever-changing new technologies (and using them to their advantage)
  • Finding new ways to engage qualified leads

How can software help a business to address – or avoid – these changes? 

Well, we’ll tell you. 

How do manufacturing businesses benefit from ERP systems?

Most industries who have the budget to invest and time to implement an ERP system will see the benefits of the software. 

The ability to streamline internal processes by reducing employee tasks means saving on overhead costs – and freeing time for employees to focus on customer engagement and other important person-to-person tasks. 

The manufacturing industry in particular benefits from ERP solutions because the software allows:

  • Improved production planning
  • Inventory management 
  • Supply chain optimization 
  • Enables accurate cost management and financial reporting
  • Ensures quality control and compliance 
  • Provides business intelligence capabilities 

In short: ERP systems provide real-time data regarding inventory levels, streamline procurement processes, and enhance production scheduling – which enables manufacturers to respond swiftly to customer demands and stay competitive in a dynamic and fast-paced market.

Being in-the-know regarding supply chain issues and availability of products will help you strategize to keep processes flowing smoothly. 

Leveraging your ERP system to improve your processes

In the end, what ERP software offers is scalability and flexibility, allowing SMEs to adapt and grow as their business expands.

Whether it’s scaling up production, diversifying product offerings, or entering new markets, ERP systems provide SMEs with the agility and tools necessary to support their evolving needs. 

With centralized data, integrated workflows, and efficient resource allocation, SMEs can seize growth opportunities and navigate industry challenges effectively.

Investing in, and implementing, ERP software

OK – this all sounds great, you’re thinking, but software investment and implementation are expensive projects to take on. 

That’s true – which is why the Government of Canada has introduced the Boost Your Business Technology grant to help small- and medium-sized businesses like yours plan, invest, and implement new digital technologies. 

If you qualify for the grant, you get 90% of a digital adoption plan covered, up to $15,000. 

What’s a digital adoption plan? 

It’s a digital development roadmap specially made for your business, prepared by a CDAP-Approved Digital Advisor

With a fully completed digital adoption plan (prepared by a CDAP-Approved advisor), you can submit the plan to the CDAP program to access up to $100,000 in interest-free loans that you can use to buy new software, upgrade your devices, and more. 

Get started by: 

We look forward to hearing from you. 🙂