The 4 big industry applications of ERP software
Of the countless industries using ERP software today, four stand out as benefiting the most from its versatility and functionality. Retail, manufacturing, farming, and real estate management all require a customizable, streamlined management software that can collect and manage data from all business activity.
Whether tracking shipping and payment or marketing and sales, ERP software integrates everything in a real-time view of core processes while sharing this information across the various departments.
The face of retail is sales and payment. Behind the scenes, inventory management and tracking, shipping, and marketing create the backbone. Clothes, cars, and food all follow the same basic principles and require very similar functionality.
By utilizing an order management system, orders can be coordinated across multiple stores while advanced pricing allows for management of sales and numbers that can be sorted through various hierarchies. Orders can also be tracked based on stock and non-stock items, recurring orders, and real-time updates to inventory.
Providing goods to the retail scene are the manufacturers. Of many types and sizes, all work very similarly in their need to maintain competitiveness through integration of all facilities. Once integrated, ERP software can be used to track the financial portion through product costing and manufacturing accounting (essential for tracking work orders and shop floor transactions).
It also can be used the track the shop floor through work order processing and managing project data. With all of this information connected and organized across multiple facilities, ERP software increases productivity by decreasing information errors.
Growing crops is stressful in its own right as a lot of it heavily relies on the weather. On top of that, there are acres of land more than likely growing numerous types of food. ERP software provides an organizational solution for tracking and planning. Grower management tracks information on the specific blocks of land, harvest details, and crop maturation.
This is then saved to provide historical information at a later date to help forecast earning potential. Contracts can also be tracked, noting the quality agreed upon, renewal dates, and any amendments to the contract.
Real estate management
ERP solutions for Real Estate Management efficiently streamlines construction and management of industrial and commercial real estate. The recent JD Edwards Upgrade provides improvements to their Real Estate Management ERP platform. Not only is real estate management important for the construction of properties, but as well as the building management proceeding its construction.
Serving as a landlord may seem like an ideal job to external viewers, but the stresses they incur having to keep up with their various tenants’ problems is immense. Not only do they have to track rent payments, they also attend to any calls about disturbances or maintenance issues.
To ease the pressure to organize such a vast amount of information, real estate management in ERP software is lease-based and creates recurring bills (i.e. rent), rent projections for coming years, and processes revenue.