What Can ERP IoT Integration Yield?
In 2023 where 67% say their organisation has accelerated the adoption of cloud applications, industry leaders of all sectors are slowly starting to see what the fusion of ERP and IoT can accomplish:
Business Insights In Real-Time
The benefits of the Internet of Things include a continuous, real-time stream of data from IoT sensors that automatically identify patterns and detect anomalies in your operations. Within this IoT ecosystem, your employees get accurate, real-time, actionable insights to improve their decision-making. With the insights gained from the industrial Internet of Things, you can tweak your operations to get the most significant outcome for your business.
Resource and Asset Management
IoT solutions can monitor high-value assets, materials or equipment and provide real-time information about their status in an ERP system to keep all departments on the same page. IoT architecture also notifies employees of vulnerabilities or pain points in their operation. Having sensors helps you to conduct scheduled maintenance, and the monitoring of assets helps to utilise resources more methodically i.e., power management and water consumption.
Enhancing the Customer Experience
Embedding your ERP with an Internet of Things infrastructure has tremendous implications for customer service. The data gained from IoT connectivity automatically spots issues earlier, whilst BI (Business Intelligence) makes optimal decisions to understand the expectations and behaviour of customers. ERP IoT integration is geared towards customer satisfaction, for example with follow-ups and reminders for customers about maintenance or warranties.
Refine Your Demand Forecasting
Proper demand forecasting can produce precise, short-term forecasts of customer demand on a daily basis. Embedding intelligent ERP applications with IoT solutions can simplify the complexity of demand forecasting to establish a direct link between production and consumption. An IoT ecosystem can analyse real-time data to determine the popularity of products and will enable you to use predictive analytics to adjust to changing trends rapidly, lower costs and reduce disruptions.
Outstanding Operational Efficiency
IoT solutions let you automate control over multiple operation areas such as inventory management and shipping. Raw-to-finished goods tracking can be made much easier with a network of IoT sensors and production lines can be monitored 24/7. Manufacturing ERP modules can handle the time to completion of an entire raw-materials-to-finished product chain with stability.
Manual tasks such as barcode scanning can be bypassed as the Internet of Things traces and routinely updates the status of reordering, restocking, inventory updates, and missed deliveries in your ERP system.