The manufacturing industry has witnessed a tremendous evolution since the fourth industrial revolution. At the same time, people can get their hands on more advanced Manufacturing ERP Software to address the industry’s rapidly changing needs. For instance, many modern-era ERP systems leverage multiple next-generation technologies like cloud, AI, big data, and IoT.
The manufacturing industry has faced many unforeseen challenges in the past few years, forcing companies to adapt to new changes. Moreover, the post-pandemic markets have witnessed massive fluctuations in demand and supply, causing manufacturing units to amend their production schedules.
The subject matter experts have predicted some manufacturing ERP trends for the upcoming year. In this article, we’ve enlisted the top manufacturing ERP trends you must watch out for in 2023.
- Migration to the Cloud
With many companies, especially in the manufacturing industry, migrating their systems to the cloud, cloud adoption is predicted to take a dramatic turn in the ERP industry. According to experts, more manufacturers will consider upgrading their ERP systems and embracing cloud technology in the upcoming years,
Simply put, the manufacturing industry is slowly moving towards mainstream ERP cloud adoption. The Accenture report states that around 46% of manufacturers used private systems in 2020. And 14% of them leveraged public cloud environments while 17 housed ERP systems in hybrid cloud. In 2023, the number of cloud ERP systems is more likely to increase in the manufacturing industry.
- Devices and IIoT with ERP
In the manufacturing sector, a new wave of devices and tools communicating with one another is predicted to create new opportunities for automation. The interconnectivity of such devices is going to generate enormous amounts of data via the IIoT (Industrial Internet of Things).
ERP systems will play a critical role as they allow data to be stored and then procure output as dashboards and reports that enable analysis for process improvement. It will provide manufacturing companies access to real-time machine performance from any location.
- The Rise of Intelligent ERP
More and more manufacturing companies are looking forward to implementing intelligent ERP systems to keep pace with the fourth industrial revolution. Here intelligent Manufacturing ERP refers to the systems incorporating industry 4.0 technologies like big data, cloud, AI, IoT, and web3.
Implementing enterprise resource planning systems leveraging these technologies can help manufacturing companies take their productivity levels to the next level. In addition, intelligent ERP solutions can facilitate intelligent business forecasting and help make smarter business decisions by considering calculated risks.
- Role of AI and ERP
As of 2023, ERP applications will increasingly embed artificial intelligence (AI) into their solutions to let manufacturing businesses make better and quicker decisions to optimize their processes and improve finished products’ quality and delivery.
- Supply Chain 4.0
The most crucial part of the manufacturing industry, the supply chain, involves the movement of raw materials and finished goods between two or more locations. The efficiency of supply chain processes significantly depends on how manufacturing businesses manage their SCM activities, like warehousing, logistics, shipping, distribution management, and more.
That being said, it’s the need of the hour for manufacturing companies to implement next-generation technologies to boost their supply chain productivity. Most manufacturing units use ERP systems that leverage 4.0 technologies to manage and improve supply chain processes.
- Increased Demand for Mobile ERP
The demand for mobile ERP software has increased significantly across many industries, especially the manufacturing sector, because of the apparent ease of managing multiple regular operations. Manufacturing companies increasingly use advanced mobile ERP applications to keep track of their day-to-day processes.
Moreover, with ERP systems hosted on the cloud, their mobile use is becoming quite common these days. By deploying mobile ERP applications, manufacturing enterprises can rest assured that their employees can access such systems anywhere and anytime. An individual just needs a compatible mobile device and a high-speed, stable internet connection to access manufacturing ERP applications.
Closing Remarks
Manufacturing ERP systems have evolved significantly since their inception, undergoing tremendous changes and advancements. In the past, ERP applications used to be exclusively designed for large-scale manufacturing enterprises.
However, now you can get customized ERP systems for small-scale manufacturing units. Furthermore, staying up-to-date with the latest manufacturing ERP solutions trends and leveraging them can help you boost your business productivity.