If you run a small firm engaged in the production or distribution of physical goods but lack an ERP (Enterprise Resource Planning) system, you may be asking if and when you should make this investment.
New factories frequently utilize QuickBooks and other accounting programs to keep tabs on money matters like payroll, stock levels, sales, and costs. However, when your company expands, these procedures become inefficient, put you in danger, and prevent you from making the decisions you need to move forward.
How can you determine when it’s the right time to buy an enterprise resource planning system? To assist you in weighing the pros and cons of adopting an ideal ERP software in Bangladesh, here is a checklist of considerations.
Signs that You Need an ERP Software in Bangladesh
Your Business is Growing Too Fast
This is the primary motivation for factories to seek out an enterprise resource planning system: Their company is expanding rapidly and undergoing significant internal and external changes; as a result, they need a more flexible and adaptable system to keep up with the pace of change and accommodate their anticipated expansion.
Consider investing in an enterprise resource planning (ERP) system if your business is experiencing rapid expansion in terms of revenue, staff, or processes. The use of an ERP system will make it easier to oversee the growth of your company. One will help you streamline operations and automate tedious chores, making your small business more productive and capable of taking on more work.
By streamlining your order-sourcing, order-tracking, and order-management processes, small-business ERP software can help you manage your cash flow and get more work done on time. By streamlining and simplifying processes like inventory management and purchasing, ERPs can help you save time, money, and effort, allowing you to put your attention where it belongs: on expanding your business.
Excel is Not Enough For You Anymore
In the beginning stages of your manufacturing business, you could certainly get by with Excel alone. It’s a crucial resource for running the firm on a daily basis. However, as your company expands, its procedures will get more complex, necessitating a more feature-rich platform for management.
For basic tasks like scheduling, keeping track of stock, and analyzing data, Excel will do just fine. But when your business expands in scope and complexity, you’ll need a tool capable of handling the increased volume of clients and tasks.
However, a sophisticated industrial operation requires real-time data, which spreadsheets cannot provide. If you’re still running your company with Excel, you’ve undoubtedly heard this question a few times already today: “Are you working with the appropriate file?” That certainly isn’t the newest release…
The fact is that it doesn’t take much to throw your shop off if you don’t have access to real-time data. In spite of appearances, a project might quickly become problematic if inventory levels aren’t accurately recorded on a spreadsheet and you end up running low on a required component. Because of this, the project will run behind schedule, which will inevitably result in lost revenue and unhappy clients.
From production to sales to distribution to accounting to customer service, an ERP system can handle it all. If you can see every aspect of your business, you can maximize output and guarantee timely deliveries.
Your Problems Are Growing With Your Business
You might expect more difficulties in running your manufacturing business without an ERP system. You should expect inaccuracies in your data, especially your financial records, and an increase in the time spent rectifying the consequences of poor business judgment. ERP software is a terrific investment if you want your store to function smoothly and boost productivity and efficiency.
When you implement an enterprise resource planning (ERP) system, your entire business will be coordinated and streamlined; you will no longer need to use paper order forms, spreadsheets, or other manual methods; and your productivity and accuracy will both increase. When all of your company’s data is in one place, employees no longer need to waste their time manually verifying and reentering information. Incorporating an ERP system into your business will allow your staff to be more efficient and free up time for them to focus on critical tasks.
All the tools necessary to run a successful manufacturing company in the modern era can be found in state-of-the-art ERP software, which handles not only financial and accounting functions, but also production, distribution, inventory, reporting, business intelligence, and even customer relationship management (CRM).
You Need ISO Certification
Customers in the manufacturing industry demand high-quality goods to be shipped promptly and affordably. You want to increase profits by decreasing the cost of quality, pushing down costs, and shortening lead times. To aid enterprises in achieving these three aims, the International Organization for Standardization (ISO) has developed a globally recognized standard for Quality Management Systems (QMS).
It’s important to note that if you plan on selling to other ISO-accredited factories, they will require your products to be certified as well. Having an ERP is recommended, but not required, for ISO certification because it provides the infrastructure and data management needed for certain QMS procedures.
Documenting your production procedures is essential for ISO certification. Without an ERP system, the documentation process can be long and cumbersome. ERP deployment should come before ISO certification to avoid having to go through this tedious paperwork procedure twice.
Things About ERP Software In Bangladesh You’ll Kick Yourself for Not Knowing – Part One
How to Make Your Small Business Work With ERP Software in Bangladesh