Understanding a Stock Control System and How It Can Benefit Your Business

Understanding a Stock Control System and How It Can Benefit Your Business

Running a business is a demanding task and managing everything effectively requires a lot of hard work and dedication. But none of this would matter unless you are well acquainted with what lies below. For the success of your business, it is very important to understand stock control system.

For a hassle-lite stock-taking experience, you should consider using technology to help you do so. Stocktaking apps are very common now and vendors such as Orangekloud will help you solve your logistical issues with cutting edge mobile apps for your company. Visit their site today: https://orangekloud.com/business-solutions/food-logistics-solutions

Next, read this article below by Arcireland on how to understand stock control systems.

Understanding the stock control system

The amount of stock a merchant has at present is referred to as stock, and the way you keep track of it is referred to as Stock Control, also known as inventory control. The system helps you keep track of inventory, from the point of its manufacturing to its re-ordering. Read more here

For the sake of minimal human errors, many businesses these days are identifying the possible advantages of a computerized stock-controlled system which may help the business in theft of assets, avoiding shortages and saving up on restocking time. Some of the major advantages consist of the ensuring of properly stocked inventory. Over or under stocking are the major issues that will be avoided in the first place. Less stock can be translated into unhappy customers and over stocking will gather up the business’s cash as an opportunity cost.

Next, read this article below by Yashodeep Sengupta to learn how to turn your inventory into retail.

Making use of your inventory management skills

The future of retail lies in the intersection of online and offline retail. Enterprises are waking up to this moment of truth and re-programming themselves so that they can inhabit the vital space within. Brick-and-mortar brands are acquiring ecommerce platforms to stay relevant. And online-only brands are realizing that ignoring a physical presence can prove fatal. Read more here

In today’s world, we are undergoing a major change where our platform is changing from a physical one like a shop to that of a virtual one- an online website. Mishandling or miscounting of inventory mismanagement may result in missed selling opportunities and incorrect information for buyers which may impact sales and brand value negatively thus make the customer experience bad.

Let’s look at some case studies of inventory optimization. The first one has a large retailer, Target in it. In the year 2015, Target’s Canada supply chain went totally off beam as Barbie toy cars stopped selling. The problem identified turned out to be increased supply and low demand. Walmart also faced a similar issue. It has a record of the very infamous inventory management which underwent through ‘My Productivity app’. It is accessible by all the customers and allows them to call for restocking and time management.

Many retailers are using this on a large scale to diffuse power to shareholders to get this huge responsibility off their shoulders. Many well-known enterprise retailers with inheritance infrastructure are revealing their information through APIs and arranging for apps to the cloud to conduct advancement. The biggest examples are Target and Walmart. The cleverest thing you can do is allow the customers to send an alert when the stock levels are low. You don’t have to employ anyone for it or depend on technology to do that for you.  Amongst these customers will be potential vendors who will provide solutions for you too. This allows these retailers to cope up with technology giants such as Big Data analytics, robotics, machine learning and RFID.

From our personal to work life, we feel technology’s impact in more than just a hushed manner.  With its tangible benefits to humankind, it’s no wonder that it is readily accepted by many industries with open arms. This includes warehouse management as well. For a handful of businesses, selecting products for order fulfillment may still be a feasible option, but for others labor-intensive exploration has become ancient. The technology systems are largely amendable to exact needs.

Next, read this article by Opal Technology to learn how technology is serving to the betterment of stocktaking.

Drones- the likely face of the future

Drones help in almost about everything. A crucial thing to keep in mind is that the inventory system is not capable of producing correct results if the data entered in it is inaccurate in the first place. So you cannot blame the technology for human error or infiltration. Read more here

Therefore it is important to employ good labor in the first place and why it becomes so important to handle all this the right way. It does not matter which inventory system you choose. What is important is how you manage and monitor the system. It is also useful if you have a software consultant by your side, as they can help arrange and take care of the selection process without involving you. This means a lot less worry on your mind and good advice that may help you in the long run.

In conclusion, using complex technology in our daily work can be disorienting if it is not widely used previously. Small steps should be taken if the company has decade-old processes in place, or has a workforce slow to change. The way forward is technology-based, including areas such as warehouse management. With the tangible benefits of technology, it would be a loss to not join the fray to adopt these technologies too.

Top Myths Debunked About Integrated Security Systems

It is unfortunate but a bitter fact that the world is not becoming a safer place at all like it used to be, whenever you switch on your television set or pick up any newspaper or even hear the news on your radio, you are bombarded with a series of talk about murders, robberies, home invasions, break-ins and many other crimes that are bring committed against property and people.

One system that can solve these problems is an Iris Recognition System. For a start, ATT Systems Iris Recognition System provides one of the most comprehensive security options which you can count upon. Visit their site here today: http://www.attsystemsgroup.com/access-control-system

But what is surprising that even though there are sophisticated and highly useful integrated security systems solutions available even when with the iris recognition system , many people do not think it important to use them. They would rather give plenty of excuses for not getting them installed and most of their explanations have a link to the myths or misconceptions about these systems. Get yourself familiar with some of the most common myths related to integrity security systems.

Myth 1: Security system is not required since I have coverage. Moreover, I stay in a safe locality.

This is not true at all as thieves can invade any area or locality. While you may feel that your neighbors will always help to keep watch, it is possible for them to keep an eye on your property. However, experienced robbers do not look like thieves at all so they may not raise any kind of suspicion. Additionally, though you may have purchased insurance, it may not replace important personal details of yours like confidential information, credit, and debit card details, SS numbers and so on. Such information are of immense value to any professional thief for that matter and is much more precious than a stereo system or watches that your insurer could replace.

Myth 2: A security system is relevant only for the affluent

For you, your property is as precious as that of anyone lesser, irrespective of the financial status. Wealthy or poor, every person has possessions to protect and safeguard. Most people are more worried about the security threat than the actual loss of their possessions. After all, it is natural for all to have a sense of being secure and safe.

Myth 3: A security system is very costly

It is perhaps one if the biggest myths associated with security systems. In reality, with the technological advancement, security systems are now being manufactured using components that are less expensive. Today, the market offers a range of systems catering to all types of budget, dome bring even less cheap than the cable bill you pay on a monthly basis. Additionally, when you take into account the discounts offered by some insurers when you install a security system, you are actually paying even less.

For more information visit http://www.attsystemsgroup.com/integrated-security-management-systems-isms/ OR Apply now.

How do you begin the process of finding a competent queue management company

You may decide to get the services of a company for your business especially for your queue management needs. But how to go about the task is a big question because the process of choosing a competent company should be smooth and hassle-free. Not only that, you must make a perfect choice as well. Before you go about the task, you should know the advantages of hiring such a company.

An ideal company should ideally be well-established in the industry, not just for one products but for the whole range of products it offers. Its products should also be well received. Lastly, it should be constantly innovating and seeking new updates to its current inventory.

One such company is ATT Systems, who is renowned in the industry for their Queue Management Software used in waiting rooms of many institutions. Their queue solutions are also compatible with third-party software, and this flexibility allows for a wide range of integration. If you are looking for a reliable vendor, they are a good option to begin with.

Next, here are some pointers to consider when choosing your vendor.

Security aspect

1. Remember that you should afford utmost importance to the security aspect for running your business smoothly and successfully. As in every other field, there may be stiff competition in the field in which you operate also. Hence, you should ensure that your data, the important documents of your business and the papers that describe your plans do not fall into wrong hands. If your competitors come to know of your strategies, they may try to acquire the right type of ammunition for their arsenal for out-smarting you. By getting a good security and queue management system installed for your business, you can keep the wrong people who are waiting to steal your secrets at bay.

Customer service

2. Your aim is to succeed in your business but for accomplishing this aim, you should serve your customers in the right manner and on time. This means that your customer service efforts should be immaculate. Remember that customers hate squandering of their time. They are not ready to wait indefinitely for having your services. If you delay offering your services or making deliveries of the orders placed by your customers, they will not hesitate to switch loyalties. That is the reason you are advised to put in place a good queue management system so your customers get the services they need on time. Since these customers will have a fair idea as to when they will get their services, they can make their plans suitably.

Quality Services

On the face of it, it may look that the process of choosing a provider of security and queue management services is the same as the process of finding providers of other services. But in reality, looking for a provider of security services is different in the sense that these services are vital for safeguarding your operations and also for ensuring that your journey towards achieving your business goal is smooth. This means that your research should be through a different lens.

In most of your researches, you will proceed with an economical angle in your mind. But the emphasis should be more on the logical angle when you look for a provider of queue management and security services. The idea should be to have 100% protection for your business.

This means your focus should only be on the quality of the services you expect to have from the provider. The only way is to check the track records of the providers you are considering. You must choose only that provider the track record of whom is absolutely flawless and COMPLETELY satisfactory.


When you use a good vendor, positive customer experience will result. Krill Tsernov writes:

Let’s imagine a doctor’s office that has a doctor for every single need a visitor could have—remember, we’re using our imagination.

Well, thanks to the office’s QMS systems, the front-end workers know exactly why each patient has arrived at their office.

For example, Mary Sue needs an ENT for a perpetual sinus infection, while Sean MacGyver can’t stop going to the bathroom and needs a Urologist.

QMS makes it simple to quickly match both Mary Sue and Sean with the doctors that best suit their purposes for visiting that day. Once doctors are free to take a new patient, the queue system pings, alerting the receptionist to send the next patient to them.

Read more here.

Customer experience is the invisible push or pull force that will affect your business directly. With the spread of social media, one prominent bad experience is all it takes to garner negative PR for your company. However, that is not the only danger you need to look out for.

If you encounter a bad vendor, they can not only cause you immediate inconvenience, but also harm your operations in the long run, if you need even more effort to recover your operations back to normal for your clients.

Roger A. Grimes writes:

“Often times it isn’t the patch management software’s fault — it’s the managers. They only patch some items, but miss the most popular targets, such as Java, Adobe Reader, Flash, and more. Or they don’t patch in a timely fashion. Or they don’t follow up on why some percentage of their population doesn’t take the latest applied patch, so there’s always a vulnerable portion of users. Even in the best cases, getting patches out to the masses takes days to weeks, while the latest malware spreads across the Internet in minutes or hours.” Read more here.


In conclusion, choosing an operator needs to be done with proper research, and not just from cost-saving, ‘integratedness’ or ‘what everyone uses’. Your business may have specific needs that a specific solution, so do identify that to your vendor. A good vendor should place service first before profits. When you meet such a vendor, you should seriously consider them.

After choosing a vendor, put them to the test and evaluate their performance by reviewing the customer experience from your customers. If the system is easy to use, user-friendly, and makes processes more efficient, then this is a vendor worth building a good relationship with.


Video Surveillance Technologies – strengths and weaknesses

Thanks to the video surveillance technologies that are available now and that are described in http://www.attsystemsgroup.com, organisations and governments are able to mitigate the issues caused by security threats to a certain extent together with the iris recognition system as well. Let us now look at the strengths and weaknesses of these technologies.

1. Analogue CCTV Technology

The strengths of the Analogue CCTV Technology are its robustness and its easy-to-install-and-maintain feature. Users will not face any compatibility issues between the DVRs and the cameras. Unlike the CMOS cameras, the cameras of the Analogue CCTV Technology perform better even in low light conditions. Users can get the technology installed at affordable costs.

The weaknesses of the technology are its image resolution is limited, 1 camera will be able to cover only a single traffic lane and the technology does not come with more number of advanced video applications and integrations. The quality, security and reliability of the wireless transmission of this technology is inferior to that of of many other IP technologies.

2. Advanced Analogue CCTV Technology

The strengths of the Advanced Analogue CCTV Technology are similar to those of the Analogue CCTC Technology but providers of this technology have made significant improvements to its features.

3. IP (Network) Technology

The strengths of the IP (Network) Technology are excellent clarity of the pictures thanks to its megapixel resolution, and its robust, interference-resistant and secure signal. Users can add cameras or if they want, they can remove and replace cameras, data-storage devices or the NVR. Users have options for data storage such as remote storage, redundant storage, etc. Users can easily maintain the system and upgrade the software and the firmware of the network devices or the cameras.

The main weakness of this technology is that the performance of its IP camera is inferior to those of analogue cameras. The system is not as robust as the analogue system. Those who choose this system must have good knowledge in the technology and computer networking. Otherwise, there may be issues like missing frames, latency and delays. The cost for setting up the system is high.

4. HD-SDI Technology

Strengths of the High Definition – Serial Digital Interface technology are the resolution of the videos may reach up to 2MP pixels and it is easy to set up, install and operate. It can easily be maintained also. Users will not face any compatibility issues.

The main weakness of this technology is transmission of its video signals may be affected by electrical noise or electromagnetic Interference.

5. HD Analogue CCTV Technologies (AHD, HD-CVI and HD-TVI)

The strengths are similar to those of analogue CCTV systems. But unlike the analogue systems, this technology transmits video, audio as well as serial data. The signals will not be affected by electromagnetic interferences. There will not be issues such as latency. delays, etc. Its low maintenance cost is another great feature.

Visit http://www.attsystemsgroup.com/cctv-and-video-analytic-solutions-2/ OR RSVP now for choosing the system that suits their needs.

Innovative trends in ICT

What is ICT?

ICT is the abbreviation for Information and Communications Technology – the information technology that stresses on combination of communication software with middleware and enterprise software that enable users to store data and also access and transmit it as ease. With such open access, users can also manipulate data as per their choice. The convergence between audio-visual and telephone networks with computer networks is referred to as ICT. The concept of ICT is constantly evolving with new technological interventions. The phrase Information and Communications Technology (ICT) has been used by academic scholars since the 1980s.

Trends in ICT:

The ICT sector has seen relentless change ever since its inceptions and it infrastructure services have evolved as well to benefit consumers . Companies who deal in ICT are constantly facing the challenge to innovative to not only understand the change but also to give shape to evolving technologies. Many tech companies come up with a disruptive intervention in the technological sphere setting a whole new trend in the market.

Currently there are five technological trends that are shaping the ICT sector. These trends are creating new value for the customers as well as the industry. The trend are:

Cloud Computing: using smart technology like robots and autonomous machines is one the evolving foundations of the Networked Society that is all about spreading intelligence through cloud. Artificial intelligence, especially big data analytics, knowledge management and machine learning is helping a lot of progress in smart machines. Storing, computing and connecting systems are being shifted to a cloud platform that further enhances collaborations through robots and sensors.

Self-managed devices: evolving technology causes sensory data to merge with artificial intelligence techniques, this makes a large number of sensors to be merged and processed that in turn causes a system to have a higher-level view. It causes more accurate interactions. By combining a multitude of data from different sensors, a baseline for intelligent processing is created.

An enhanced communication experience beyond sound and sight: with the internet evolving, communication is going to evolve in leaps and bounds and it infrastructure services vastly improved. There shall be more interactions between human beings and machines in the coming years. Very soon 3D selfies shall be in vogue.

Reshaping of fundamental technologies: the fundamental technologies are being reshaped and revamped to evolve in a manner that gives a new dynamics to the technological world.

Internet of Things and data privacy: with large number of data being saved online, cybersecurity and data privacy is the need of the hour. But in ICT actual security controls, security analytics, and an adaptive security posture shall look into data protection.

To know more about trends in ICT, visit http://www.hitachi.com.sg/ict-solutions/solutions/bas/sap/b1.html OR Apply now.

Criteria for Selecting an ERP System

Many small businesses in Singapore are using Enterprise Resource Planning today, and if your business is not, it is time to consider purchasing one as it greatly improves the efficiency and operations of your company. While choosing which one is most suitable, there are numerous factors to think of and several considerations to make. What are the key criteria for selecting a good ERP system that should be known to your team and you prior to going ahead with purchasing one? It is imperative that you consider the various criteria before hoping ahead with your decision to purchase and deploy an ERP system across your business. Check out the following key considerations for guiding you while you try to decide on the most appropriate ERP system for your firm.

But firstly, one ERP vendor you should check out is Hitachi ICT Infor ERP. Hitachi ICT offers a wide range of systems and has the expertise to support your system when you require it. You should check them out if you are looking for a software to automate your business processes efficiently and safely.


Resources and budgets

ERP software is available at varying prices today. In fact, the most expensive system could be as high as 5 times the cheapest ERP software. Ever thought what you are planning to change could be the reason for such big price variations? The reason is that some businesses require certain advanced functionalities in the system that may shot the price of the software, On the other hand, there are other businesses where the criteria could be less complex and so they can opt for a reasonable prices ERP software, it is not always necessary that a more expensive ERP solution will be superior.

Objectives and goals of the company

One of the most important reasons to migrate to an ERP system to make sure that your corporate goals get the necessary support. Different organizations will have their own unique set of objectives. Here are some such instances:

The speed with respect to market goals: Is it possible to take your product to the market more quickly after complying with all the regulatory needs?

Efficiency goals: Can process and task redundancy be done away with so that multiple tasks are clubbed together and every element occurs only once?

Growth goals: Is it possible to double the size of a business with the available resources?

Future scalability and underlying technology

In the past, the level of technology used by an Enterprise Resource Planning system was not a key consideration. It was the functionality of the software that was the priority when companies first adopted technology into their operations. However in modern times, if you are planning to change your existing ERP system, the cost includes not only the software price but also the cost of lost time, training and business disruption. When you select an ERP system today, choose one that uses newer and more advanced technology, and the software will enjoy longer longevity and will definitely be a better investment for your company.

In conclusion, ERP software is a must-have for any company looking to compete effectively in the modern technological landscape today. However, the level of technology used by the ERP needs to be scalable and easily updatable in order for your investment to be a good one. This is the most important goal for your money to go the extra mile, on top of the relevant reasons such as ERP can benefit your company.

Delivering on Brand Promise with Konverge Retail POS in Singapore

As a retailer, you have a brand promise that you want to deliver to your customers. You want to learn about them more, you want everyone to experience seamless transactions and have an inventory visibility that meets the required standards. This is not easy without technology that is easy to use. For this and much more such as fast processing of customer transactions, you should consider having a POS system.

The Benefits of the Konverge Retail Pos

There are a multitude of benefits that users of this system enjoy. Its an e-commerce integrated system that tracks inventories whether it is in a chain or a single store operation with a guarantee of inventory visibility. It becomes easier to handle real-time data, trace stock movement, handle promotions, multi-tier pricing and discounts as well as track refunds and returns that have been made in the past. No matter how complex the retail business requirements are, these retail pos is reliable and user-friendly.

The self service kiosk is one good example with a integrated function.

Better Inventory Management

Tracking inventory movements is not efficient if it is done manually. A staff may postpone the recording and end up forgetting. This does not happen with Konverge POS system with its inventory management system. It handles lots, batches, allocation and SKU numbers. By providing real-time reports, this system automates inventory count update. At the end of the day, it enhances inventory accuracy and reduces inventory turnover cycle.

No More Missed Order and Manual Errors

Missed orders and manual errors can be avoided when reliable software is in place. The profitability of a business is highly affected when such mistakes occur, but with technology advancements, these are mistakes that should not be happening today. The question is, how can you make this possible? With the POS, there is an automated end-to-end system that comes with the Konverge Pos Item Requisition module linking the head office with outlets. Every order that is made at an individual outlet is electronically transmitted to the order office. This saves the company a lot of time.

Promotes Business Growth

If a business is stagnant, there is no use in running it. One of the things that can slow the growth of a business is having staff focus on sorting out manual errors and administrative issues. A lot of time is wasted on such tasks which slows down growth and in turn affects revenue. With the POS , everyone in the company focuses on other important aspects of growing the business. It is the time saved by use of the system that improves staff capacity for the overall growth of the company.

Besides all the advantages of using this system, the beauty of it is you do not have to go through a complicated process. It is a user-friendly system that gives the customer the experience they are looking for. It might seem to be a simple system, but it handles complex requirements in a business. The market today is competitive, and this integrated system will help you stay abreast.

Top Emerging Trends in Enterprise Resource Planning

Today, many businesses have turned to using software to automate many aspects of their business. One such software is Enterprise Resource Planning, or known as ERP in short. However, how do you know what should be automated in your business? In this article, we will discuss more on what are the recent trends in ERP technologies and what is relevant for your kind of business.

But firstly, if you are looking for an ERP vendor, you should check out Hitachi ICT Infor ERP. Hitachi ICT offers a wide range of systems and has the expertise to support your system when you require it. You should check them out if you are looking for a software to automate your business processes efficiently and safely.


Next, we will discuss about the recent trends in ERP technologies.

1. Higher demand for ERP software on the cloud

Today, many organizations prefer that an ERP system should be delivered via the Cloud. This is because giving an ERP on the Cloud offers a host of benefits to the companies including saving storage solace and no risk of precious business data getting lost.

2. Mobile ERP

The immense popularity of mobile devices has led to many organizations willing to invest in those ERP solutions that can be easily accessed from different types of mobile devices such as smartphones and tablets.

3. Focus is now more to get profit from the installed ERP

The success of ERP, in General, is hardly debatable these days. But gone are the days when many businesses just implemented them blindly. Companies today have become extremely conscious about their Return on Investment from it.

4. Large companies are acquiring smaller businesses

There has been an increasing trend on bigger companies acquiring or merging with the smaller startup businesses. While there are several new players operating in the market, the big players are becoming more prominent.

5. Integration architecture is better

As the number of specialized ERP software has increased, there has been a shift in the focus of ERP consultants towards offering superior integration architecture to get more competent ERP systems.

6. ERP with specialized business intelligence is in demand

An increasing number of organizations want to focus on making more advanced forecasting and predictions by deploying an ERP system that features specialized business intelligence by doing so, there can be marked improvement in the decision-making processes, especially when the right ERP solution is in place.

7. Tiered ERP systems are emerging in a big way

Bigger companies have been focusing towards creating 2-tiered Enterprise Resource Planning solutions. While the lower tier is supposed to work for the various subsidiaries, the top tier is meant to work for a company’s headquarter.

8. Customer Relationship Management is getting greater prominence

Due to the high level of recession, a number of consumer-based businesses have demonstrated dismal performances. This has also led to the realization of these businesses how important their customer data is. Thus, a majority of purchases for the ERP systems have been a Customer Relationship Management solution. You may read more here: http://blogs.ramco.com/10-emerging-trends-erp

In conclusion, knowing about ERP trends is essential if you want to find out what is best for your company and what it needs. Whether you are looking for something industry specific or operations specific, it is good to read up first to find out about your company’s requirements.

When And Why A Company Should Go For SAP Implementation?

SAP implementation is not an easy process at all. In order to implement it successfully, an organization needs to be patient and careful both. Typically, organizations go for it when they want to go for a change management from their current systems. There can be different forms of change management such as the expansion of existing business processes, acquisitions, mergers, and process re-engineering and new ERP or technology roll outs.

However, a key concern that pops up is when the introduction of SAP is so expensive and complicated, why do more and more organizations go for it?

While there is no debate over the fact that sap implementation is not a child’s play, it is a challenge worth accepting for the array of benefits offered by it. But prior to going for SAP implementation of software solutions, an organization should take out some time and find out the answers to the questions mentioned below.

* Does the business have a turnover of a million dollar that will support them purchase the SAP product and user licenses along with other requirements?

* Does the organization have easy access to skilled and experienced consultants who are experts in drafting a blueprint for SAP implementation?

* Is the company prepared for drastic changes in its business processes and are the various teams ready to accept the challenges?

* In case there is a failure after the implementation, is the organization ready to bear losses and take big risks?

* Is there a backup plan available with the company in case the primary design does not work out for whatever reasons?

When an organization gets replies for all these above questions, it can enjoy the innumerable benefits offered by SAP implementation in the business processes used on a daily basis. Organizations implement SAP to get the best out of their businesses a and to ensure that the efficiency of the manual and automated business processes involved in day-to- day operation is maximized,

There are three major priorities for the process of successful SAP implementation which are as follows.

* Processes- there should be proper sequencing and structuring of the key business processes so that they are capable of delivering the expected and desirable output. All the business processes should be efficient and inter-linked so that they are helpful in gaining bigger benefits.

* People- both the end-users as well as the professionals in the IT department who are closely involved with the process of implementation should be able to appreciate and understand the system or the updated business processes with great ease.

* Technology- There are activities like employee training, ensuring vendor and customer data security, bringing new dimensions to the business processes should be productive in such a manner that they enhance the efficiency of people as well as processes. When all the above three key components coordinate with one another, there is a high probability of the success of SAP implementation.

Should Small and Medium Enterprises go for Standardized or Customized ERP Solutions?

Often when small and medium enterprises (SMEs) go for ERP solutions they prefer for the erp software to be customized. There can be many reasons for this. The most important and prevalent among them is the question of how the staff will handle the new ERP system. If they will be comfortable with the new software or would they prefer some basic changes in the older one. Given this thought, employers ask SME vendors to customize their ERP offerings so that they can avoid staff-related implementation issues.

This problem can arise whether a company is going for ERP solutions for the very first time or are opting for them from a different vendor than before. The question here is, if customization should be preferred over standardization.

Why companies prefer customization?

SMEs evolve at a very fast pace. Everything, from their business processes to their manpower grows at an astounding pace which makes flexibility a very important factor for them. They need their processes to be scalable, and the same applies to the ERP solution that they want to be implemented. They feel that the ERP software should mirror the scalability and flexibility that their business has seen over the years.

Why standardization is a good option for them?

Although the SMEs need for flexible business ERP solutions makes sense, standardization makes for a better factor when it comes to implementation. The ERP solutions that you find today are based on years of industry expertise and best practices. As a result, these solutions have already covered all the challenges that an SME might face during implementation, thus offering a specific solution to every kind of possible issue that can be expected to arise.

How can the concern of staff retention be addressed?

Many SMEs also think that the implementation of standardized ERP software might lead to a decrease in employee morale and productivity. This can also lead to loss of employees. This is a valid concern and can be taken care of by using proper change management techniques. By making the shift from no/old ERP to a new ERP, seamless and comprehensible, with proper introduction and training, this problem can be easily taken care of.

If the employees receive proper training and are involved throughout the implementation process, then they start to feel like a part of the entire journey which helps to build an efficient eco-system.

Aligning ERP Requirement and Delivery

ERP helps in optimizing your business’ internal value chain. It is the solution to your problems of scalability and data flow within the organization. You have information at your finger-tips, real time. However, you might think that ERP solutions are at the very best an off-the-shelf product. How well can it help you and your business’ specific needs? This question brings us to think about the alignment of the requirements that a business has from ERP software and how the software can deliver and match up to expectations.

ERP can be customized according to the customer’s needs. However, most ERP vendors often advise against it. Present ERP systems have been built over a foundation of tried and tested methods and best practices. More often than not, problems that SMEs currently fear facing in ERP implementation have already been dealt with and addressed by the current breed of ERP software. This partially solves the worry of business process going topsy-turvy during an ERP software implementation. Standardization in this case can help address problems better than customization of the ERP software.

Flexibility over Standardization

There is however one thing that trumps standardization and that is flexibility. Even if you implement standardized ERP software you will need to constantly upgrade and update it. Technology is a dynamic variable and as such it demands continuous upgrades. You should ensure that every time there is a change in any business process, you update your ERP software too.

For example, your business must comply with certain financial regulations. You should check that your ERP accounting software is designed to ensure compliance with such regulations. Finance is the life blood of business, and there are major regulatory frameworks to adhere to when it comes to finance. Properly implemented ERP accounting software will help you make sure that there are no breaches.

Flexibility also means scalability

With the rise in ecommerce, SMEs are scaling globally. They deal with customers overseas and ship their products all over the world. Dealing with customers around the world means having your systems and business processes running 24/7. This can be achieved effectively only when you have holistic ERP software implemented. Scalability also means an increase in manpower within your business. Increased workforce calls for Human Capital Management, which is another area where ERP can help you perform effectively.

In short, ERP software can mean a world of difference to your business. You will need to identify your business’ specific requirements well and communicate them to your ERP vendor: so that they can provide to you a standardized yet flexible ERP solution that can help your business grow exponentially.

Easy Inventory Management with Enterprise Resource Planning

Can you imagine the situation of a business that gets more orders than the inventory that it has? Such a situation can arise due to poor production planning and inadequate inventory forecasting. The business will lose all the orders, thereby affecting its revenue. They could have avoided such situations if they had managed their inventory.

An Enterprise Resource Planning system is the solution for such problems. ERP is mainly used for automating the various back-office functions so that all the functions are integrated seamlessly. All the operations of the business that are crucial for the running of the business can be easily integrated and incorporated into the Enterprise Resource Planning system. From production planning to warehouse management, inventory management, order processing, purchases and financials, everything is covered under one umbrella.

Inventory management is very crucial for the successful running of the business. Only with a proper inventory management system can the businesses analyse the stock available and therefore determine the amount of stock to be replenished. It can help in defining strategies that can be useful for planning future growth.

Benefits of integrating Inventory management with ERP

Optimize inventory

The key benefit of automated inventory management is that it can optimize the inventory for meeting the ROI goals and product availability. Keeping a right mix and amount of inventory is quite important for improving the profitability of the business. The business can neither afford to under-stock nor can it over-stock. With all the reports and systems in place, the system would be able to analyse on fast-moving and slow-moving products so that appropriate measures can be taken.

Supply Chain

For companies that rely on supply chain partners for managing the inventory and shipments, an effective inventory system can be integrated with the supplier’s system. This will help the suppliers in analysing whether the stock is available in the warehouse or not.

Accurate Financial Statements

One of the significant components on a Balance Sheet is the inventory value. When the inventory is managed through an ERP, the chances of variation are minimized. This gives more accurate information on the financial statements, which can be useful for the shareholders.

Easier physical stock takes

Every company that deals with inventory has to go through annual physical stock takes. When the inventory management is automated, the physical stock take becomes much easier.

With a proper inventory management system, the movement of stock becomes real-time, giving an accurate picture of the stock position. Stock reconciliation also becomes easier.