Finance

Key ERP Modules for Manufacturing Industry and Their Functions

The manufacturing industry spans a wide area. This industry has more businesses than any other vertical. For any type of business, it is obvious that the greater the production result, the more successful they will be. This production result includes many aspects such as a smooth execution of various processes, best quality, customer satisfaction, and a slow pace. The efficient use of an integrated system will make managing all these factors much easier. This scenario calls for an ERP software that is feature-rich and highly functional.

Each business is unique and has its own processes. This means that different ERP modules are required to make the best of each one. Here are the essential modules that an ERP system for manufacturing must have. Keep reading and you will make your manufacturing business a huge success.

Inventory Management
Manufacturing businesses need to be able to manage their inventory records without fail. This module provides a variety of advanced and flexible features that allow business managers to make smart business decisions based upon material availability. This module allows them to quickly determine which product is in stock and at what size.

Sales and Distribution Management
Management of sales orders, customer information, preparation of quotes and delivery to required departments, etc. For a manufacturing company, these are essential. To manage all of these tasks efficiently and quickly, managers need an ERP module that is easy to use. This module is essential for all business functions and allows the business to coordinate with other departments.

Human Resource Management
Manufacturing and the businesses that are associated with it require a lot of human capital and resource. An integrated system is essential for managing the entire workforce of this industry. Human resource management modules are ideal for managing key processes such as training, recruitment, payroll and attendance. It is easy to use and does not require any additional effort.

Accounting and Finance Management
This module allows users to access relevant financial information and records with just one click. Managers will need these financial reports to prepare final reports about the business.

Excise Management
The only module that a business can use to ensure compliance with excise taxes in all of its processes is this module. All transactions related to sales, purchases and inventory can be managed easily by users.

Production Planning and management
Every manufacturing company must pay close attention to optimising resource usage. This module is capable of managing material maintenance and manufacturing efforts. Each business has its own profit targets. Forecasting sales orders can help businesses set goals.

Service Management
This business enhancement module focuses on customer services, such as email integration, messaging alerts and allocation of auto-calls. It also offers chat connectivity. This service management module effectively monitors all customer-related activities, resulting in a steady business workflow.

These ERP modules are essential for growing a manufacturing company. Depending on the nature of your business, you may be able to ask your ERP vendor to make changes that are best for your company.

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We are a team of professionals with each having two decades of experience in start-ups, sales, marketing, finance, HR, large scale project and profit centre management and running mature cross functional operations. At Molw.net we are big believers that knowledge transfer is critical to our industry’s evolution. We love to share our experiences and learnings through our online resources.

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