Manufacturing is driven by data. From inventory management to cost of goods sold, there is no shortage of information to track. The Internet of Things (IoT) adds to the plethora of data by enabling expanded data measurement and collection across the enterprise down to the plant floor, giving manufacturers and technology experts access to valuable information on suppliers, raw materials, machine performance and more.
Now that manufacturers have access to all of this data, the next step is to transform it into useful information for making strategic business decisions. Data analysis helps manufacturers and technology executives make more informed decisions around planning, material performance, equipment maintenance and many areas of potential improvement. When collected by a highly secure cloud ERP system, accurate production data can then be shared across the enterprise, immediately eliminating data silos and promoting highly efficient and consistent analysis opportunities.
The ideal ERP system enables expanded manufacturing intelligence to make data actionable with several key abilities:
· Creating reports using any relevant data allows you to see your business from every angle. For example, good manufacturing intelligence allows you to view a variety of reports from cost of goods sold to machine performance in seconds, saving you time and money by pinpointing inefficiencies.
· System access from any Internet connected device enabled by a cloud-based ERP system delivers robust dashboards tailored to your role –whether you’re in operations, IT, finance, sales, etc. Dashboards can be customized for the type of information that matters to you.
· Tracking real-time performance to discover production roadblocks, whether it be equipment issues or process inefficiencies. The right cloud ERP system can help prevent costly recalls by stopping production from proceeding if defects or out-of-tolerance issues are detected.
IoT is a force that brings new levels of connectivity and data communication to the manufacturing environment. Connecting plant floor information with top-level production and inventory data, all supported by manufacturing intelligence drives efficiency and better decision making.
Want to learn more? Access the “Tying the Shop Floor to the ERP System” white paper.