ERP capabilities are many and it is difficult to mention all. ERP has the capability of running the business and increase profits and reduce expenses. ERP is the business software solution that is not self explanatory from its name but it can be made very wide. An Enterprise Resource Planning system (ERP system) is a system that includes internal and external resources into a single unified system.
ERP system also speeds up and standardizes the manufacturing process. ERP also helps companies to reduce inventory and decrease procurement cycle.
Some of the business drivers and market trend in ERP are :
- Consolidation of Systems – global instance
- Standardization of Processes
- Move to Shared Service Centers
- Focus on Security
- Corporate Compliance
- Cutting edge Technology
In manufacturing industry, the various processes are automated and that speed up the processes of manufacturing. ERP integrates the suppliers and the customers so that the information can be accessed more quickly. Manufacturing companies wants that their products reaches the market and the customers at the earliest for this the cost should be least and the production should be maximum. So as to remain economically feasible, the manufacturers need to sell more products and at a reasonable cost.
OSM is the bigger and greater version of ERP and is specially designed for the manufacturing industry. ERP helps to improve processing, reporting and data accuracy. A new ERP system is accuracy knocking and can grab the opportunities. The ERP which handles all the business processes at one place and with less efforts is an efficient ERP.
In today’s era the business environment is aggressive and to lead in this competitive and vast business environment you must use ERP. ERP functionalities also improve business performance. ERP when extended forms an operating system for Manufacturing (OSM). The importance of OSM is that it is data-driven it collects and organizes data. The data is stored online and companies can run ERP either on premises or on cloud. An OSM can improve the bottom line as well as the top line i.e. profit and sales. Support services are always provided by the OSM vendors so that the customers do not feel that they are left with no bars. There have been the need of a system that organizes the data in uniform manner and that system is OSM.
OSM helps in managing the various activities involved in the manufacturing industry. Operating system for Manufacturing is an operating system which helps to improve the profits and sales in the company.