The automotive industry is at the forefront of the new digitalized industrial revolution. Vehicles and the manufacturers that build them are becoming more sophisticated thanks to automation, artificial intelligence, and the Internet of Things.
However, with new technological opportunities come challenges. Fortunately, enterprise resource planning (ERP) for automotive industry management provides the modern software businesses need.
Reduced Costs and Increased Productivity
An effective ERP program will streamline an organization’s financials, supply chain, operations, commerce, reporting, manufacturing, and human resource activities into a single interface. Efficiently integrating all these branches will ensure everyone is pulling in the same direction at the same time, saving money.
An ERP system enables a lean operation, seamlessly coordinating all business activities. New employees will also only have to learn one software system, reducing training costs. Not surprisingly, in a recent survey, 82 per cent of companies achieved their projected ROI after ERP implementation.
Because ERP software unites a company’s various departments, different teams can painlessly share information from income reports, expense statements, KPIs, and more, making analytics more comprehensive and holistic. By uniting accounting and operational data, ERP systems open previously unknown analytical opportunities with user-friendly dashboards and graphics.
ERP technologies can also include predictive analytics and deep learning, which surveyed CIOs highlighted as crucial for gaining competitive advantage.
Improved Customer Support
ERP systems can integrate with customer service management software, allowing users to reach their marketing goals, such as reaching out to a larger audience, nurturing leads in the sales funnel and converting them to sales, and building on existing relationships by communicating with customers through all stages of the purchase process. In a survey on ERP usage, 75 per cent of CIOs said they were leveraging their ERP to engage customers in real time.
Optimized Production and Inventory Management
Well organized production and inventory processes are crucial in the automotive industry. An effective ERP system offers simplified, systematic productive and inventory management that avoids excess stock and inefficient distribution, avoiding unnecessary costs.
When asked to identify areas where ERP produced the most ROI, after reduced IT costs, the top responses were reduced inventory levels and reduced cycle times.
Annata 365 is an industry-leading ERP add-on for Microsoft Dynamics 365 for Finance and Operations, designed specifically for the automotive, equipment, rental, and fleet industries.
Whether you are a fleet management company, a logistics company, or a parts manufacturer, contact us at https://sheaglobal.com to find out how SHEA automotive solutions can help your business run more efficiently.