How Can IoT Technology and ERP can Benefit Manufacturers?

Gone are the days when sales personnel would maintain piles of paper sheets in their office or spreadsheets on their computers to process information. Today businesses, whether small or large, invest in state-of-the-art software that can make their work easy and eliminate issues.

Managing a business is not easy. Maintaining compliance, warehouses, payroll, procurement, sales, production, and finance, businesses need to have a diligently working team of employees and advanced technology to support their efforts.

IoT or the Internet of Things –  is a technology where machines are integrated with sensors, actuators, electronics, and connectivity software which enables the physical devices to connect and exchange data. IoT streamlines and accelerates the workflow and makes sure the processes are uniquely identifiable with the embedded computer systems.

IoT and the Connected World

IoT is much more than wearable gadgets and smart homes. In the age of industry 4.0 and disruptive technology, the equipment designed for manufacturing has IoT sensors embedded in them.

So, what is the importance of IoT in manufacturing? Well, it offers deeper insights into manufacturing processes, smart connections between machines and operators, enhanced production, reduced downtime, and increased data security – these are just a few of the many benefits of IoT in manufacturing.

Let’s discuss in detail how IoT technology can be beneficial in the manufacturing industry.

• Smart manufacturing

IoT sensors play a huge role in the manufacturing plant. Research conducted by IDC showed that in 2018, 40% of the top discrete manufacturers depended on smart connections to produce their products. Forward-thinking manufacturers will try to reduce their lead time, manage optimal inventory, and accelerate product delivery.

IoT can connect machines and equipment and let you tap into the data repository faster – it will drive your business and encourage customer satisfaction with on-time product delivery. IoT platforms offer end-to-end solutions to develop and deploy applications quickly, manage and analyze data, accelerate time to market, and protect and comply with security requirements.

• Higher product quality

According to an IDC report, every manufacturer has the primary goal of enhancing the overall quality of their product. Product quality facilitates customer satisfaction, higher sales, lower costs, and reduced waste. IoT technology helps to automatically assess a machine’s functionality, utilize safety features, get a real-time overview of ongoing activities to ensuring customer satisfaction, and keep better control of the overall functions of your business.

• Faster and informed decision making

Internet of Things is a game-changer in the global industry. It allows business insights to flow smoothly to the top management. With accurate data, management can make well-informed decisions.

• Reduced downtime

The Internet of Things is technology that takes business operations to a higher level. It ensures timely and accurate production, proper inventory count, and optimum working of systems and machines. For example, if the machines on your shop floor suddenly stop working, can you guess the repercussions? Of course, delayed production, unsatisfied customers, material waste, and extra expense.

IoT technology synchronizes machines to software so you can monitor the status of goods sold, procured, produced, packaged, and much more. No downtime and no unsatisfied customers!

ERP utilizes IoT

Technology is adding more innovative functionality to ERP systems to make it easier for businesses to operate.

IoT describes the idea of machines communicating with other devices through a channel of sensors to minimize the role of manual labor. ERP systems should be adaptable to the functions of IoT to deliver information in real-time. From connecting shop floor operations to financial functions, an ERP does almost everything needed to bring organizational data together into one database.

An ERP system that supports IoT functions can manage and analyze large volumes of data. It helps achieve regulatory compliance. It has a wide array of tools such as business analytics to help make smart decisions. OptiProERP is a cloud-compatible ERP solution that empowers your employees to work together across devices. It’s a comprehensive ERP solution that caters to a line of industries, including medical device manufacturing, automobile components, telecommunications, and many more.

If you are looking for a manufacturing ERP solution that can help you leverage the most advanced functions and disruptive technology, reach us at info@optiproerp.com.