Wed. Oct 20th, 2021

IOT ERP-ERP adoption has become a common trend now, and so it’s time for forward-thinking organizations to consider amalgamating IoT and ERP for opening up new doors of possibilities for operational excellence, workflow automation, and customer service.

With unprecedented, explosive levels of growth in the data generated globally, handling and managing workflow execution manually is nearly impossible for companies in today’s digitally-driven world. Since going digital is more of a necessity than an option, the only thing organizations can do is look out for solutions that would make their job easier. The need of the hour here is to have a unified solution that integrates all the business operations in one platform, allowing employees to have complete control over every resource of their organization. What’s more important, the solution should have additional functionality to report operational changes immediately so that employees can manage resources accordingly. And the requirement is being fulfilled by the technology-powered, sophisticated tool, Enterprise Resource Planning (ERP). As the name implies, the tool allows enterprises to plan and manage their resources, namely people, material, money, and so on, seamlessly. 81% of organizations are in the process of adopting or have already adopted ERP for resource management, according to Panorama Consulting Solutions Research Report. That means a majority of enterprises are adopting ERP solution. And if your enterprise is one of them, then what sets you apart from your competitors? Obviously, adopting an ERP solution will drive business excellence, achieve productivity goals, and also achieve a good ROI, but it won’t help you gain a competitive advantage. The best way to stand out from the crowd is for organizations is to adopt the most advanced version of ERP systems with augmented functionalities of new-age technologies like IoT. By combining IoT and ERP, enterprises can not only differentiate their business from competitors but also fuel new revenue growth.

Tracing the Evolution of ERP Systems

If you think that an ERP system is a recent innovation, then you are highly mistaken. The history of ERP systems goes back to the 1940s with the advent of calculating machines. Later in the 1960s, when the need for computing devices increased, new solutions were introduced, which included the required functionalities. The 1960s also saw the birth of MRP (Material Requirements Planning) solutions, that integrated EOQ (Economic Order Quantity) concepts with huge mainframe computers, that helped in procuring the necessary raw materials for producing, buying, and delivering products. In the 1980s, MRP solutions evolved to a more sophisticated level and were able to manage additional processes.

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Article Credit: BBN

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