In our ongoing series on outsmarting your competition, we want to talk about using the data that is stored in your ERP Software solution. If one considers all of the valuable pieces of information that are housed in your ERP solution, it’s clearly a top priority to figure out how to make the most from this information.
Thousands of transactions are stored in the database of your ERP solution, so it really comes down to having the tools that will allow you to take advantage of this information. As you use your ERP Software to help run your business, ask yourself some basic questions:
- Will understanding selling trends help my production schedule?
- What will I gain by understanding which customers in the same vertical markets are purchasing from me?
- What could engineering gain from having a better understanding of product defects?
- Do my primary suppliers hurt or help my delivery and margins?
- Which production resources are under performing causing missed deliveries and order cancellations?
These questions are just some of many you should consider when it comes to business intelligence and ERP. ERP Software that has the ability to easily and quickly integrate data and pull information is critical to both the business and business intelligence.
Another area that’s connected to Business Intelligence is “software alerts.” Is your data working for you? Do you get notifications when certain parameters are met? Are things running behind schedule? Your ERP Software application should keep you in the loop and prepared for whatever arises at work or on the road.
Taking proper advantage of all of the data in your ERP Software application will take your ERP implementation to the next level.