Quantitative methods are employed to aid the decision-making process of demand forecasting and enterprise planning for the purpose of increased profit and value to stakeholders, information and activities necessary for the business process complete of a business organization and can provide value to supply chain management, similarly, your enterprise resource planning (ERP) system that contains integrated supply chain management capabilities enables organizations to optimize supply chain processes without the cost, time and effort required to integrate multiple, disparate systems.
Enterprise resource planning (ERP) systems are critical information systems that connect a companys operations, including purchasing, production, sales, service, accounting, supply chain, finance and asset management, and customer, supplier relationships, the functions of your enterprise resource planning software range from the simple contact management of your suppliers, through the automated control and organization of your stock and the quick generation of orders and invoices, furthermore, it provides an automated way to manage supply chain networking, supply chain planning, and supply chain execution. Along with production planning, business forecasting, and demand planning.
Lean supply chain management represents a new way of thinking about supplier networks, supply chain planning includes the selection of marketing channels, promotions, determining the quantities of stock and inventory required and ensuring replenishment and production policies are able to keep up with demand. Also, integrating supply chain management and ERP allows manufacturing and distribution businesses the ability to gain more visibility while increasing speed and efficiency. As well as improving customer satisfaction.
Organizations with seamless supply chains make supply chain part of an operations plan and business strategy, observing the success of organizations that utilize ERP for supply chain activities, also, to create the information linkages that integrate the processes and structures within the supply chain.
Access to real-time data from supply chain partners will increase the reliability and resilience of the entire network, organizations are greatly dependant on ERP systems to streamline account payments, and manage financial supply chain processes.
Want to check how your Supply Chain Execution Processes are performing? You don’t know what you don’t know. Find out with our Supply Chain Execution Self Assessment Toolkit: