How ERP and Analytics Can Improve Demand Planning and Forecasting

May 24, 2016

Those in the field of planning and forecasting actively seek game changing information that could act as a catalyst for the success of their business. The power in this information though has everything to do with its accuracy as well as its presentation. A strong and accurate translation of data can predict consumer trends and determine which of your inventory is selling the most. It can also show where you may be able to cut costs, as well as improve profits. If this information is not translated correctly, and proved to be weak and unreliable, it may end up costing you more instead of cutting costs. 

 

This is why you should seek out a dependable ERP system that will translate all of this data and eliminate any potential errors throughout the process. Having such a system will empower users to discover new features that allow for their business to grow to new heights. 

 

Of course having an advanced ERP system still requires you to navigate the system effectively, otherwise all potential benefits go out the window. As in all other areas of your business, you still need to put in the work to get results, but this time your results will be impeccable. A lot of the advantages for businesses lie in its reporting which enhances the level of visibility throughout your business. 

 

Best of breed ERP systems such as Microsoft Dynamics integrates all information and data with the multiple programs your business may have to bring it all to a centralized location. This information is available via a simplified dashboard view, consolidated to show what's going on in your company instead of tediously comparing multiple scattered reports. 

 

Accounting and ecommerce become integrated into ERP, which improves your forecasting ability of online revenue streams. 

 

Behavioral tracking for predictive use becomes more transparent through customer and supplier self-portals. 

 

Some skeptics of ERP say that such system won't miraculously solve your business' problems, and they're right. To gain success you must put in the work. But for those that do put in the work and learn to navigate the tools of their ERP system effectively, success will come. An ERP provides access to a company's data that wasn't available prior. Information can be your key to success if translated accurately to plan and forecast the future of your business. 

 

Let Micro Force - Socius train your business to be the professional ERP user you should be. Reach out to sales@micro-force.com for more information. 

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