IoT is transforming the supply chain. Many industries and business sectors are trying to understand the possibilities of data-driven technology. ERP adoption has become a common trend now, and many forward-thinking organizations are evaluating the possibilities of merging IoT and ERP to open new avenues for operational excellence, workflow automation, and customer service.
Adopting an ERP solution will drive business excellence, achieve productivity goals, and achieve a positive ROI, but it won’t help you gain a competitive advantage and win new customers. A good way to stand out from competitors is for companies to develop ERP systems with augmented functionality and integrate with new technologies like IoT. By combining IoT and ERP, companies can not only differentiate their business from competitors but also achieve new revenue growth. If you navigate the transformation and merge between IoT and ERP you can achieve powerful advantages.
We know that IoT opens new possibilities for companies to collect data. With sensors and cameras embedded in products, companies get detailed information on product status, in real-time. Data connects IoT and ERP.
While many companies are determined to ensure successful digital transformation, the real success depends on the quality and quantity of the data collected. The more relevant the data is, the better chances are to gain insights for next step in automation chain. By integrating IoT and ERP, companies can improve data availability, which can lead to operational excellence. The data accumulated due to IoT sensors will be sent and updated to the ERP software. Any changes in the process are reported in real-time. For example, sensors integrated into a vehicle will send real-time information back to the ERP system. IoT data, will help organizations gain vital business-related insights instantaneously. The continuous stream of data enables enterprises to carry out real-time analysis, which helps them gain valuable insights to make rapid tactical decisions that will increase revenue significantly. In addition, with IoT, organizations can consider integrating ERP systems with AI and ML so that employees get smart suggestions to make optimal decisions.