2015 witnessed noteworthy changes in the way businesses perceive Enterprise Resource Planning software and applications. The lines between on-premise solutions and SaaS applications are slowly blurring. Business Intelligence tools have been successful in improving upon the much-needed business analytics & dashboards. Cloud is making its presence felt strongly. Let us look at what 2016 holds in store for us -
The Rise of Cloud ERP
As per PwC reports, by 2016, investment in SaaS solutions will more than double, to US$78 billion or more. Cloud ERP adoption is rapidly accelerating. Enterprises are integrating cloud-based ERP with traditional on-premise ERP applications creating hybrid ERP solutions that are scalable (Pay-as-you-go models) and deliver better ROI by bringing in cost efficiencies. This strategy also supports declining IT budgets and customer-centric business models that are the future. Almost 36% enterprises have already made hybrid the priority for their cloud expansion plans.
Most professionals today, be it in small or large enterprises, use mobile devices as an integral part of their work. Mobile offers the flexibility to rapidly execute time-critical tasks from any location. ERP Applications are already catching on this trend and there are applications which are available on smaller screens with mobile-friendly UX. Core features like dashboards and reports will be accessed more on mobile devices and tablets.
Graphical data summaries, list displays with tap features are a hit with business owners and professionals. Oracle JD Edwards alone has more than 80 Mobile Applications serving different business operations, allowing the workforce to accelerate business execution anytime and from anywhere.
Wearable technology creates seamless, portable experience for the users to carry out their daily activities. Hands-free computing, real-time information, augmented reality, contextual sensitivity, haptic feedback, etc. make wearable technologies valuable to businesses.
A good business application would be an Oracle JD Edwards EnterpriseOne customer deploying wearable technology for warehouse management to optimize the picking and packaging operations. JDE application Interface services make it possible to connect the robust JD Edwards ERP to say a smart watch or a Google Glass. There are endless possibilities in which wearable devices can help businesses execute operations on the go without much time & cost overheads.
Federated ERP (FERP) System
This will be a new kind of ERP system with distributed system components within a computer network. These components together appear as a single ERP system to the user. However, different ERP components can be developed by different vendors and are reachable to the user over a network.
The key advantage of such architecture is low hardware requirements and lesser customization needs. The distributed ERPs will be helpful particularly to small and medium sized businesses.
Social, Collaboration and ERP
ERP applications integrated with social media tools facilitate communication and collaboration among employees, vendors, partners and even customers. It is easier to track customer engagement with social ERP and also build a sound knowledge repository around customer interactions. It also makes tracking programs, business initiatives and processes easier. Social ERPs are crucial to bridge the gap between front-office and back-office. Soon these ERPs will provide a competitive edge and will significantly contribute to customer delight.
The road ahead for ERP Applications is exciting and surely 2016 will bring in newer, leaner ways to leverage them for business growth. These additional layers to a traditional ERP system setup are crucial in riding the next wave of business uncertainties and emerging as a winner.
- Top Priorities of API Manufacturers
- Manage unique production processes
- Global Regulatory Compliance
- Product Quality
- Documentation & Reporting
- Improving Commercial Capabilities
In order to achieve excellence in all these listed areas, API manufacturers should be looking for enterprise solutions that will provide support for key processes like –
- Natural Resources: Isolation & Recovery
- Chemical Synthesis
- Recombinant DNA
Companies must adhere to safety and quality standards set by the respective countries. Fighting counterfeiting and contamination is on top priority. Meeting compliance guidelines as per WHO, GMP, cGMP, FDA, etc. have become crucial for API synthesis.
The enterprise solution or process manufacturing ERPs should definitely support & help them achieve standardization for their business processes across multiple manufacturing facilities. Solutions should be provided for the company’s Finance, Distribution, Manufacturing and Quality Management processes. Efficient supply chain and plant management are requisites to remain competitive and thrive. The ERP solution should be built for operational excellence and to facilitate lean manufacturing practices. The solution should help to -
- Improve Production Quality
- Improve Process Efficiency
- Improve Average Cycle Time and Lead Time
- Manage your process workflows better
- Reduce downtimes & under-utilization of facilities
A robust enterprise solution like Oracle JD Edwards and specific solutions for API Manufacturing offered by vendors will enable timely introduction of new products to market. Such solutions will help the industry provide superior quality products, excellent service to their customers, growth in IP assets and help them focus on research and development for the future.
- Seamless Business Level Reporting
- The solution must give complete visibility into all the planning as well as the into the activities across the product life cycle
- Interactive report which have graphs, tables, charts and lists should be available to the decision makers at real-time
- ERP Solution with built-in Business Intelligence will provide actionable business process insights by leveraging the process-level data across the business
A robust ERP Solution like Oracle JD Edwards will allow the leather and footwear business to improve their competitiveness, bring in process efficiencies and will help bind the sales & order distribution cycle tightly together. An ERP solution designed for the footwear & leather product manufacturers and a vendor with specific industry expertise can help business in going global with innovation and quality.