The manufacturing industry has evolved tremendously since the advent of the fourth industrial revolution. At the same time, ERP software solutions have become more advanced to address the rapidly changing industry needs. For instance, the present-day manufacturing ERP systems incorporate several next-gen technologies like AI, cloud, IoT, and big data. Nevertheless, the past few years have brought many unforeseen challenges to small-scale manufacturers, forcing them to adapt to new changes. Moreover, there have been massive fluctuations in the demand and supply curve since the COVID-19 pandemic, causing manufacturing companies to amend their production schedules.
The year 2023 is around the corner and subject matter experts have made all sorts of predictions about upcoming trends with manufacturing ERP. In this blog post, we have compiled the top manufacturing ERP trends to watch out for in 2023.
Also, Read ERP Integration With PLM Software For Effective Supply Chain Management
Top Manufacturing ERP Trends For 2023
The manufacturing ERP remains in a phase of rapid growth and expansion as more manufacturers are opting for it with each passing year. A majority of manufacturing companies (even small-scale companies) already have full-fledged ERP systems in place to manage most of their operations. Nevertheless, it is crucial to keep your ERP systems up-to-date to pace with rapid technological advancements. Below are some of the top ERP trends that are likely to disrupt the manufacturing industry in 2023 and beyond.
Complete Migration To The Cloud
Cloud adoption is going to take a dramatic turn in the ERP industry as more companies, especially in the manufacturing sector are migrating their systems to the cloud. In 2023, we shall see more number of manufacturers upgrading their ERP systems and embracing cloud technology. In other words, we can say that cloud ERP is slowly moving toward mainstream adoption in the manufacturing industry. According to a report by Accenture, at least 46 percent of manufacturers were using private cloud systems as of 2020. Whereas, 12 percent of them housed their ERP systems in public cloud environments while 17 percent leveraged hybrid systems. In 2023, the number of cloud ERP systems is likely to witness a multifold increase in the manufacturing sector.
The Rise of Intelligent ERP
Intelligent ERP systems have become more popular as manufacturers are striving to keep pace with the fourth industrial revolution. Intelligent ERP is a term that refers to the use of Industry 4.0 technologies like AI, big data, cloud, IoT, and web3 technologies in modern-day ERP systems. By leveraging these technologies and implementing them in enterprise systems, manufacturing companies can bring multifold increase in their productivity levels. Besides, iERP facilitates intelligent business forecasting and aids in smart decision-making with calculated risk which is conducive to driving steady business growth.
Also, Read ERP Software Development For Food Quality Monitoring
The Internet of Things
The internet of things is one of the core technologies under Industry 4.0 that has attained mainstream adoption across the manufacturing sector. The industrial use cases of IoT have shot up in recent years, making it an indispensable need to sustain cut-throat market competition. In addition to manufacturing companies, many retailers, distributors, and eCommerce brands are now using IoT-enabled devices to streamline their warehouse operations. As per a survey by IDC, the global spend on IoT in the manufacturing sector was close to $178 billion in 2016. Since then, IoT use cases have only multiplied as the manufacturing industry remains one of the top consumers of IoT devices and applications. In 2023, we shall see manufacturing startups adopting IoT applications on a large scale.
Supply Chain 4.0
Supply chain is an essential part of the manufacturing industry that deals with the movement of goods including raw materials and finished products between two or more locations. The efficiency of supply chain processes depends on the way businesses manage their SCM activities including warehousing, shipping, logistics, and distribution management. That being said, it has become increasingly important to implement next-gen technologies to enhance supply chain productivity. A majority of enterprises use Industry 4.0 technologies like AI, cloud, IoT, and big data to significantly improve supply chain processes. As a result, it has given rise to Supply Chain 4.0 which refers to the use of Industry 4.0 for increased supply chain efficiency. In 2023, supply chain 4.0 is going to going to make steady inroads into mainstream manufacturing processes.
Increased Demand For Mobile ERP
The use of mobile ERP applications has become more common across many industries because of the apparent ease of managing routine operations. Similarly, manufacturing companies are now using a number of mobile apps to keep close tabs on their day-to-day processes. Besides, now that most ERP applications are hosted on the cloud, their mobile use is quite common nowadays. With mobile ERP applications at their disposal, enterprises may rest assured that their workforce may access these applications anytime and anywhere. All they need is a compatible mobile device and a stable internet connection.
You may also like to read Custom ERP Development For Field Service Management
Closing Remarks
Manufacturing ERP solutions have come a long way since their inception, going through tremendous changes and advancements over the years. There was a time when ERP systems were exclusively designed for large-scale manufacturing companies. As of today, even small-scale manufacturers are leveraging ERP software solutions, thanks to the availability of open-source ERP platforms. Software platforms like Odoo, OFBiz, ERPNext, and Opentaps have made it easy to build custom ERP solutions at cost-effective rates.
Why Choose Oodles For Manufacturing ERP Application Development?
We are a trusted name in the ERP industry that provides full-scale ERP software development services to enhance business performance and productivity. Our seasoned developers specialize in using the latest tech stack and agile methodologies to implement next-gen technologies in scalable business solutions. We use open-source software platforms like Odoo, OFBiz, and ERPNext to build custom-tailored ERP solutions for varying business needs. To learn more about custom ERP application development services, please visit our website or reach out at [email protected].
