It is no doubt that the Enterprise Resource Planning system (ERP system) helps streamline operational runs, increase business productivity, reduce human errors and generate real-time information for better decision-making processes. Hence, when it comes to Supply Chain Management (SCM) in which companies might face several issues of working with different partners including vendors, distributors, retailers, logistics and end-consumers, it is recommended that companies should adopt ERP software and take advantage of it. In this article, we would like to draw out some in-depth sights into the help of the ERP system in Supply Chain Management.
In terms of inventory management, ERP software provides a strong and comprehensive inventory tracking system that helps to control and manage product stock. Users can have better management on inventory category and organization, warehouse data and product transportation records. Inventory optimization is clearly signified since the ERP system enables the monitor of multiple warehouses and stockpiles by automatically listing serial numbers, batching stock numbers with conformance and price list. Through that, suppliers are able to deliver accurate estimation on scheduling proper plans for input, output and movement at the right time.
Purchase and Order Management
ERP software empowers every single part of the supply chain to utilise the features of the full purchase workflow process and back-to-back order. The system helps manage purchase requisitions based on user-defined criteria, then managers following certain rules will approve these routed requisitions. In another word, ERP system helps create purchase orders from approved purchase requisitions. Automatic sequential purchase order or back-to-back will be generated once recorded.
For this process, users can access various billing types, including advanced payment, progressive billing, etc. Invoices will be delivered to the right departments or clients with the help of ERP system as the customer delivery address is separated from the billing address. Using data and information from the integrated platform, ERP system supports companies to create invoices, credit and debit memos with detailed price lists.
Specifically, ERP solution can also help generates billing for rendered services and products by automation feature, attached to a list of services and products along with their corresponding costs, and then sends them to customers as an invoice. As an invoice is made, it means that your product is sold, or service is rendered.
Logistic includes lots of steps such as package, delivery, storage, etc. Remarkably, the ERP system makes it easier to create transportation routes with detailed information of customers’ delivery addresses, which ensures the right delivery coordination and clients’ references.
Additionally, ERP solution offers options such as merge shipment and partial shipment. With the ability to generate real-time data, the ERP system allows managers to update actual data of all delivery and supply processes involved, and merge shipments for similar suppliers or distributors into one voucher to save time, which saves logistic personnel from spending several hours on manually calculating.
It is of convenience that you can generate reports automatically to check the status of all departments’ performance. You can easily check on sales revenue, profit, suppliers’ performance, product movement and trend analysis through various profiling. ERP System usually comes with a Business Analytic Module that helps analyze business data from any part of your business and generate different kinds of ad-hoc reports. The software also allows companies to pre-scheduled reports to auto-email to a specific email account. Hence, whenever you need a report for an urgent meeting, all the report-preparing process can be done just with a click of your mouse.
Being recognized by IMDA as the pre-approved vendor for the PSG grant, Synergix Technologies has successfully helped many SCM clients on the digitalizing journey by tapping on Productivity Solutions Grant which provides funding of up to 80% of the qualifying cost. Enterprise Development Grant (EDG) is also available for enterprises to look into to help minimise the net cash impact.
Should you be interested in Synergix ERP System, feel free to contact us today!