Managing your supply chain can leave you exposed to production-hindering vulnerabilities. Inadequately managing inventory can adversely affect planning for demand and, essentially, your bottom line. Additionally, long lead times and out-of-stock items can also put your supply chain at risk of slowing down or even halting production. However, you can control this with the right enterprise resource planning (ERP) features. These extended enterprise solutions help to deter supply chain management (SCM) issues so that you can properly manage operations of the supply chain. Discover five critical ERP features to lower your SCM risks, including geo-maps, customized panels, dashboard, forecasting functions and integration capabilities.
When you have supply chain hubs in different locations across the country or even the world, it can be difficult to track information, including the status of raw materials. Knowing whether a key material is available is crucial in determining whether production can go forward or be on time. However, geo-maps can help alleviate this issue. Geo-maps expand the visibility of inventory at different locations, regardless of whether your enterprise has 10 or 100 hubs or vendors it works with.
2. Customized Panels
Sometimes, SCM operations can be cumbersome to navigate if you’re working with a system that has unnecessary functions that slow you down. While this may seem minor at first glance, when schedules get tighter around key end-of-quarter time slots, every minute you can use adequately will matter. You can work around this issue by opting for an ERP system that allows you to customize panels to fit your needs. For example, if you need a system that allows you to automate the ordering of specific raw materials from vendors south of your facilities when your usual western vendors run out of supplies, you want to be able to move past standard functions and program this request into your system. Using customized panels allows you to streamline decision making and access key control panels and functions with agility.
If a supplier cannot provide a raw material that you need to create a product, you can easily slow down the time you produce your goods. However, you can avoid this issue by opting for an ERP platform with a dashboard that integrates big data analytics and interactive displays. This interactive dashboard offers visibility that can give you the ability to monitor inventory status in different phases of the supply chain.
4. Forecasting Functions
When you have incorrect projections of the products you need in stock, you can push back the lead time on shipping and deliveries. That’s why it’s vital to have an ERP function that can forecast your supply chain needs. By using a function that gives you the status of inventory on hand, you can improve the efficiency of your operations and reach critical financial benchmarks.
5. Integration Capabilities
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