By Reducing Inventory cost
- Reduced stock expiry: SpineBMS ERP works on First Expiry First Out model which automatically prioritizes consumption of stock that is first to expire. Thus, it reduces wastage of stock.
- Demand linked stock: It forecasts demand and usage and accordingly guides to maintain only the required quantity of stock. It helps to do away with excess stock and releases surplus resources tied up with redundant stock.
- Stock visibility across the distribution chain: SpineBMS ERP provides real time information on stock and sales at the distributor / stockist location and accordingly guides the company to reallocate the stock from the location that is not performing well to the location that is performing well.
- Instant status of stock: Instant reports on the exact status of stock allows the company to take the timely action. SpineBMS ERP instantly provides reports on wastage, returns, swap outs, replacements, and items that are to be returned to the manufacturer.
- Reduced handling and maintenance: Reduced stock means reduced warehousing, handling, transportation and damages cost
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ERP was first conceptualized with the thought to facilitate free flow of information between all the departments of an organization to gain centralized control and transparency. Unfortunately, many companies appeared in the market which were nothing more than silo software systems bolted together with weak connectors. A true ERP is a system with centralized database with different programs branching out from the main program. An ERP like SpineBMS is best suited to meet the IT demands of all the departments of a company and has the capability to bear the increasing load as the company expands.
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Every stakeholder wants to have a real time information from every perspective. ERP systems enable businesses to have greater insight and visibility into their supply chain operations. Access to this key information allows them to make critical business decisions and to maintain a competitive edge in their industry, no matter how big or small the competition may be. An ERP system enables 360° visibility into operations, so problems are more easily identified and employees can make informed decisions.
Continue reading “How an ERP Software Improves a Company’s Transparency”