There is nothing better than the feeling of your business thriving and expanding. But with the excitement comes a few concerns and chaos. Many industries are solving this problem by incorporating ERP software into their business planning strategy.
In 2019 alone, the market for ERP software grew by 9%. This statistic stresses the importance and impact of ERPs in significant industries. However, there are a few scopes of increasing the effectiveness of ERP system software.
But for now, a whopping 93% of the organizations reported satisfaction in using ERP systems. Therefore, as long as it’s about streamlining and managing a business, ERP is owned by major industries.
It doesn’t matter what sector it is, ERP software companies are ruling the world. Are you intrigued to know different industries using ERP software? Read this blog to find out more!
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What is Enterprise Resource Planning (ERP)?
An ERP system uses a single database for cross-channel functioning of different business operations in an integrated manner. Hence, this software helps in business management smoothly and digitally. ERPs can collect store and process data across multiple channels, which enable different business activities to run together. These activities range from project management, risk management, accounting, procurement, supply chain operations, and even HR. Companies are even known to get custom ERPs designed with extra features for their particular needs. Eventually, its cloud-based version can help a business run across the country. However, not all applications have to be cloud-based. The ERPs are localized as well.
Initially, they were invented for manufacturing companies. However, with time other companies also started using ERPs.
A few characteristics of ERP systems:
- It is consolidated into a system that runs in real-time.
- Its compiled data set is compatible with all the software applications.
- It has a standard user interface for all the models.
- It integrates various departments.
Below you can see some top industries which are using ERP software to the fullest.
Manufacturing industries consist of various departments that need to function together constantly. Therefore, for an efficient outcome, coordination between these departments is crucial. ERP software for manufacturing companies helps in establishing this effectiveness in operations.
ERPs in the manufacturing industry can help in:
- Inventory and supply chain management
- Inventory and supply chain management
- Performance of machine and quality assurance of products
In the healthcare industry, on-time action and coordination of departments are non-negotiable. There are times when communication through phone calls and emails is not efficient. Therefore, ERP for healthcare can be a wise choice.
Not only using this management software is cost-effective, but it also helps in the effortless execution of tasks. Hence, relying on a system that can interact across channels and departments is beneficial.
Especially in laboratories and customer care, streamlining information can considerably reduce the risk of mishaps. This not only lifts the healthcare facility’s image but also builds patient trust.
Some reasons why ERP for healthcare industries exists:
- Patients have easier accessibility to scheduling appointments.
- Doctors and patients both receive diagnosis results in real-time.
- It eradicates the need to hire a huge staff. Thus operational costs are reduced.
- The scope of mix-up or loss of reports decreases as they can be stored digitally.
- A more organized way of keeping track of expenses and analyzing progress.
Industries in the IT sector are taking over the business world at a rapid speed. Therefore, it is no wonder that they use the most efficient ERP software to execute their business at a fast pace.
ERP for IT is one to thank when a programmer sitting in one country can run their program through a computer in another one. Some other sectors of an IT industry where ERP systems help are:
- Inventory management
- Managing finance and accounting data set
- Customer relationship management
- Adherence to the latest IT rules and regulations
- Communication across different departments
The Retail Industry majorly deals with selling products and handling associated tasks. Management becomes gruesome for a retail business that is expanding to multiple locations. ERP for retail can ease the execution and coordination of jobs across various chain stores.
Therefore, by centralizing all the functioning of these stores through a shared database, your stores can maintain consistency. This reduces the chaos of retail business and implements standardization along with efficiency.
Some of the ways people can use ERP in the retail business are:
- Maintaining uniformity of prices across stores
- Easy exchange and return of products from any store
- Easy generation of bills
- Efficient handling of employees and their payroll
- Well-organized transactions from manufacturers
- Easy scheduling and handling of products from factories
- Keeping an integrated system of offline as well as online stores
ERP software for construction is designed to cater to the on-site and management needs of the industry. Its usage is not limited to the organization and management of workers in the field but also backend handling of finances and human resources.
Apart from this, construction ERP needs to have:
- Asset and payroll management
- Contract and deal management
- Transportation and saw material logistics
- Time shift management
- Track record management of inventories
The automotive industry has to live up to highly competitive standards in the market. As a result, they require an efficient centralized system that can help them keep up with trends. Therefore, like any other industry, a centralized digital platform is necessary to keep track of every business operation.
ERP for automotive industry acts as an efficient tool to bridge the gap between software and hardware optimization needed for this industry. Some of the ways the automotive industry uses ERP are:
- Keeping track of the latest market trends and customer demands
- Adhering to safety rules and regulations
- In time information about designing fails
- Management of inventory and raw products
- Logistics of product manufacture, transport, and sales
- Customer relations and feedback
- Quality management and design integration
Government organizations require a top-notch level of managerial and supervisory skills. Therefore, it is essential to run well-organized campaigns and public projects. ERP for government sectors is built to keep the system up to date and in accordance with public expectations.
A few reasons why the government sector is adopting ERP systems are:
- To effectively store and analyze a large volume of data
- To adhere to privacy rules and regulations
- To handle monetary budgets efficiently
- Organize HR and management reports
- To maintain an IT infrastructure that protects citizen informational database
Real Estate Industry
Businesses associated with real estate include a lot of statistical data. Everything is number play, whether it is a financial planning report, measurements of the site, or payroll dataset. Therefore, efficient data storage is a must to obtain maximum profit in business deals.
This is where ERP for real estate can organize the data in a digitalized and cost-effective way. Some other ways where ERP can help a real estate business grow are:
- Track record of raw materials and inventory
- Up-to-date information about properties on sale
- Creation of project reports
- Consolidated tracking of potential customers and resources
The food industry deals with perishable items. The punctual manufacturing, processing, and dispatching of things, form the backbone of the industry. Therefore, ERP for the food industry can channel all the activities to minimize waste and increase productivity.
Moreover, the ERP database also helps maintain the consistency of information across multiple channels. This comes in handy in issues dealing with stock and collection updates.
Some of the uses of ERP in the food industry are:
- Overall cost analysis of food production that includes the price of raw material and manufacturing cost
- Efficient generation of bills and reports
- Keeping track of progress through profit graphs
- Regular updates on quality control and management
- Efficient management of employees
This industry usually involves considerable revenue and safety risks. ERP for oil and gas can minimize the business’s cost while implementing efficiency. The sectors which can benefit from ERP are:
- Workforce and supply chain management
- Operational aspects of the oil and gas industry, such as quality assurance and production activities
- Safety and security control checks to ensure the well-being of workers
- Financial and business strategy tracking
The textile industry is probably one of the fastest changing industries in terms of fashion. A new trend comes up overnight and takes over the market. Therefore, ERP software for textile industry is a non-negotiable system tool, to tackle the chaos of fashion.
The handling and manufacturing of raw materials require the coordination of a considerable number of employees. A few ways in which ERPs can integrate the functioning of the textile industry are:
- Training of employees
- Maximizing output and minimizing by-product waste
- Handling, transporting, and tracking data
- Selling of finished products and buying of raw products
- Keeping track of the amount and material of clothes in the inventory
- Planning of costing, distribution of products
- Human resources
The printing press industry comes with its own set of unique challenges. It is widespread for such sectors to have multiple chain stores. Therefore, an umbrella system is required to handle all the stores efficiently.
ERP software for printing industry helps sort and organize the organization cost-effectively. Some of these are:
- ERP system can provide correct estimation by being up to date with market price
- Generation and easy processing of new order reports
- Seamless track of all the logistics such as transportation, inventory, production, etc.
- Automated checks and adjustments in alliance with rules and regulations
- Efficient management of employee tracks and payrolls
Landing the best ERP system for your company can be a tricky task. Even though all the systems serve the common purpose of streamlining your business, variations exist. Therefore, before choosing an ERP system, define your company’s needs.
Start with listing various departments. Then analyze which sectors need maximum interaction with each other. Then finally, make a list of all the characteristics and support you need from ERP. This way, you can save the cost of hiring unnecessary operational employees.
Any particular industry can centralize its business operations and implementations through ERP software. Consequently, the performance rate of the industry rises. Most of the industry realizes this fact and has started implementing ERP software.
By doing so, they are gaining a competitive advantage in the market. Hence, the time is now if you plan to navigate through ERP software companies. You can evaluate features and check out demos to understand which software suits your company the best!