Using Newton ERP to Drive Risk Out of the Supply Chain

 Using Newton ERP to Drive Risk Out of the Supply Chain

There's plenty of talk about mitigating supply chain risk right now. With the pandemic exposing most of the underlying vulnerabilities in these complex global networks, companies across most industries are paying closer awareness of how their supply chain positively and negatively impacts their trading partners, operations, and end customers. However, if you should be looking for Best ERP Solutions in India, choose Nippondata.

In Fast Forward: Rethinking supply chain resilience for a post- COVID 19 world says that the COVID-19 crisis has raised serious questions on the strength of global supply chains, with an increase of than 80% of organizations being negatively impacted by the problem and a vast majority experiencing significant challenges across all aspects of their operations.

The most considerable pandemic-related interruptions include a shortage of critical parts/materials (for 74% of companies), difficulties in adjusting production capacity in response to fluctuating demand (69%), delayed shipments and longer lead times (74%), and challenges in planning amid high levels of volatility in customer demand (68%). Best ERP Software for Manufacturing Industry India

Organizations in most sectors covered in our research – consumer products, retail, life sciences, and discrete manufacturing – reported similar challenges across their supply chains. In this digital era, 57% of organizations are increasing their investments in improving supply resilience. In addition, the majority are trying to technology for help, knowing that the aging, disparate software systems that they've been running on did little (if anything) to shield them from the negative supply chain impacts developed by the pandemic. And even pre-COVID, the complex nature of the supply chain often led to stock-outs, extended lead times, delayed deliveries, and production interruptions.

Newton ERP Answers the Call 

The good thing is that the unified Newton enterprise resource planning (ERP) system will help companies automate manual processes, mitigate supply chain risk, and gain better control over their end-to-end operations. By consolidating financial, customer, inventory, and other relevant data on a single platform—and then giving users 24/7/365 access from anywhere, ERP serves as just one reliable version of the truth throughout the enterprise.

Almost all companies that manage modern supply chains have networks that span the globe, which means many different individuals and hundreds of physical locations are involved with those networks. The best ERP Software Solution may help to expect and warn you of potential risks throughout the network and may source alternative solutions hastily.

Analytics and Forecasting

ERP systems like Newton provide analytics and forecasting, which may be used to predict (and react to) potential supply chain disruptions. For example, using predictive supply chain analytics, a company can perform risk analysis assessments and utilize the results for better decision-making during disruptive times. However, as we saw with the pandemic, a usually straightforward issue (e.g., high demand for face masks, PPE, or cleaning supplies) can quickly snowball into a significant problem—read, empty store shelves and warehouse shelves—if left as much as chance.

Using ERP, these and other supply chain risks can be addressed quickly due to the high levels of visibility that such software systems provide. And with everyone working from the same companies can more eagerly identify the interruption and compensate for it. By simplifying process management and providing detailed order tracking data, ERP also helps companies maintain delivery schedules, manage inventory, and make quick decisions (e.g., to change to a different supplier) as needed.

A 360-Degree View

 

Armed with a 360-degree view of their operations, companies may make intelligent decisions in virtually any business condition—good, bad, or otherwise. According to Newton, many companies are increasing their operational flexibility by diversifying beyond single-source arrangements—instead, tapping multiple suppliers of materials, components, and software. They're also incorporating more flexibility and downside protection into their supply chain partner contracts.

Additionally, companies are reprioritizing supply chain visibility in two critical ways: delving into their suppliers' financial and operational health and gaining visibility into their supplier's supply chains, Newton concludes. Finally, the drive to automate supply chains and incorporate analytical tools is accelerating to achieve more significant customer demand comprehension, monitor their own supply chain response in real-time, and analyze all they learn to enhance decision-making. Moreover, when you have any query linked to Nippondata, you can contact us anytime. We are always available 24/7 for help.