As enterprises in the manufacturing industry expand and grow, the management of inbound/outbound processes become distributed. For business operations to take place in a smooth and efficient manner, there needs to be a centralized control mechanism. Automating processes like material sourcing, inventory, purchase, order, invoicing, accounts, and human resource management gives businesses the required infrastructure to flourish. Enterprise Resource Planning or ERP is a business management software that facilitates real-time management of business processes in a centralized manner. Augmenting the manufacturing industry with Odoo ERP comes with a plethora of benefits.
Being a system of integrated applications, it integrates the enterprise data with secure authorization channels to provide hierarchical access. Essentially, Odoo ERP is a single software platform that allows manufacturing firms to centrally manage the supply chain, warehouse, inventory, workforce, HR, CRM, eCommerce, accounting, and finance. With a low implementation cost and customizable features, Odoo ERP is the perfect business management tool for large businesses and SMEs.
We, at Oodles, provide Software as a Service (SaaS) for multiple ERP solutions including the manufacturing industry. Our Odoo Application development services enable manufacturing companies to streamline operations and increase returns.
Challenges in Manufacturing Industry
The manufacturing sector particularly deals with a huge amount of data ranging from inventory and sales to client/consumer data. With digitization becoming mainstream, businesses are now moving to outcome-based models supported by intelligent systems. It is, therefore, essential to incorporate an ERP system in managing a manufacturing company. Let’s list the challenges that organizations face without ERP software.
In order to avoid spoilage, waste, over- or under-production, it is necessary to gauge customer behavior and demands. However, as markets become more volatile and disruptive, it is hard to markedly delineate trends and plan production and distribution accordingly.
A manually managed inventory is prone to errors that can significantly hinder returns due to inaccuracy of data, stocking issues, and bad decisions. Data accuracy and consistency are critical to the smooth functioning of a manufacturing firm.
Reducing Costs and Improving Efficiency
One of the simplest ways to multiply returns is to reduce production costs while maintaining a healthy, efficient supply chain. This should, however, not come at the cost of quality. Instead, manufacturing plants need to embrace automation in operations and management.
Shortage of Skilled Labour
Hiring and retaining skilled workers is important for organizations to preserve the quality of their services and thus their reputation. With fairly large applications, it can become difficult for HR to select the most suitable candidates without a quick processing tool.
Client Relationship Management
In a competitive market, customer loyalty does not come easy. Enterprises need to invest resources into prioritizing insightful client data for current and potential customers and managing sales leads. An effective CRM takes into account the preferences, demands, and needs of clients as well as market trends.
Features of Odoo ERP for Manufacturing
As an integrated platform that supports various business applications, Odoo is a stable, reliable, and economical ERP suite for managing all types of businesses. From website building and eCommerce to predictive analytics and business intelligence, Odoo application development increases the operational efficiency of organizations multifold. Here’s a list of features that its various modules (applications) furnish a manufacturing company with:
1. Inventory Management
2. Purchase Management
3. Material Management
4. Production Management
5. Quality Assurance
6. Sales Management
7. Customer Relationship Management
8. Accounting and Invoicing
9.HR and Payroll Management
Benefits of Odoo ERP for Manufacturing
As more and more systems become digitized, it’s important to optimize workflows in the supply chain with automation. Processes that can easily be automated through Odoo include payments and invoicing, inventory updates, picking, tracking, packing, sale across different channels, and applying actions in bulk for orders of high volumes. This drives productivity, efficiency, accuracy, cuts down operational costs, and secures employee safety. When the operational efficiency of the supply chain remains intact, it can easily mold into the changing supply demands of a dynamic market.
- Master Data Management
The most efficient ERP architecture is distributed and modular. Odoo comes with master data management enabling enterprises to implement business processes without duplication or fragmentation of data. Master data management oversees the consistent exchange of organizational data, eliminates redundancy, and simplifies business processes.
Odoo ERP gives enterprises the ability to set quality checks for certain triggers. Giving a holistic view of workflows associated with quality assurance, Odoo schedules operations, and even sends maintenance requests automatically, when required.
- Product Lifecycle management
Odoo allows enterprises to track the various versions of a product and manage its routing accordingly.
Odoo ERP supplies manufacturing firms with analytical tools that observe huge datasets, locate patterns, and forecast future trends around which business strategy can be focused. With predictive capabilities, it enables them to focus production to meet future demands and earn customer loyalty.
- Workforce Management
Odoo’s HRM module enables better recruitment by automating basic segregation based on required attributes for the post. It encompasses training and development, capabilities and skills management, compensation records, and all employee data. Odoo also comes with employee scheduling capabilities to schedule and track tasks.
By improving operational efficiency, increasing workforce productivity, and enhancing customer satisfaction, Odoo ERP aids businesses to maximize returns.
We, at Oodles, are an ERP Software Development Company with the goal of maximizing the potential of enterprises with next-gen technologies. We design SaaS models for every business size, industry, system, platform, and use cases. We develop ERP software integrated with WFM, SCM, CRM, HRM, and accounting services. Talk to our experts and avail our all in-purchase Custom Odoo ERP development for the manufacturing industry now!