are usually found quoting, you have to
secure the future of your Business by using ERP a need of an hour, but how does
ERP help ? Can ERP do any kind of a
magic trick that you get to see the clear future of your business? What it is in this enterprise software that gets
the six sense to forecast your business?
Days ago while meeting one of the prospect he mentioned "The basic truth in any
forecast is that it's usually miss leading " and which made me think from
his perspective what made him think like that . He may be Right or he may be wrong but since
he was a prospect for us, all I could do was to explain him the positive
aspects of ERP without supporting his
negative arguments. So I thought to use this blog to put forward my perspective
over what happened.
I mentioned earlier he may be right
based on the past experience he might have had, but I believe with proper
effort and good ERP Software one can get their business properly analyzed for forecasting the facts and figures
said all this do you think I am just trying to put rosy pictures by negating
what my prospect believed or else I have some qualitative material to say so. Let
me mention you some of the features which is usually overlooked or not
considered while evaluating any ERP. I would like to throw some light on some
of the critical factors which should be used to evaluate any ERP :
Forecasting : What orders can be expect over a time period could be
forecast by keeping and recording every transaction related to customers,
product and so on. by keeping a proper sales funnel, you can predict which
opportunity will convert into sales order and approximately when that might
Forecasting : Once you know the Demand for the Product, you can also
forecast the Manufacturing unit. Also knowing what your supplier trends have
been and will be help in the analysis.
Financial Forecasting : You can plan your Budget by predicting
revenue and cost involve in particular Project.
HR forecasting : Human Resource forecasting helps you in planning
the budgeting, scheduling and administration of workers.
Supply Chain forecasting : Supply Chain forecasting is necessary for
companies that manufacture items for inventory and that are not made to order.
Material Forecasting : Material forecasting can be done to ensure
that they produce the level of material that satisfies their customers need
without producing an overcapacity situation where too much inventory is
produced and remains in Warehouse.
above mentioned are just few points to give out the glimpse of how ERP could
come to your rescue to forecast the future of your Business. I still remember
during my college days we had this Subject called "ERP" and our
Professor always used to say, 'through ERP you can Analyze the future of your Business'
and we used to wonder how? Many Years later when I started my professional
career where I am responsible for convincing our prospects what
my professor mentioned about ERP's , I
second what he mentioned .