Today’s business has to deal with a head-spinning array of data streams, so it’s critical to have a platform that can collate them all and help find the narratives in the numbers. Many businesses don’t want to admit that their data collection on their warehouses isn’t as robust as it could be. However, there are some technologies that can help, namely enterprise resource planning (ERP) systems.
ERP systems first came to prominence in the ’90s, but today’s sleek, cloud-based ERP models have little in common with the bulky and hard-to-use software of the earlier era. These high-performance distribution and manufacturing software products provide a common platform to collect all of a warehouse’s most important data, including:
- Inventory burn rates and reordering thresholds
- Inventory carrying costs
- Backorders and backorder rates
- Order lead times
- Picking accuracy and time
- Receiving and shipping data
- Customer information
These powerful platforms are often now available on a software as a service model, reducing the initial investment required as well as the work needed to install them. In an economy plagued with continued uncertainty, ERP systems have emerged as a key tool to reduce waste and create more efficient logistics strategies.