The power of prediction
Ever wondered how other businesses seem to have a crystal ball, making hundreds of decisions with remarkable accuracy?
Well, the secret's out: and it's all about harnessing the power of your business data.
From the everyday tasks completed by warehouse pickers to the strategic conversations in the accounts department, data is the anchor of success in every corner of a modern enterprise. Enterprise Resource Planning (ERP) systems are at the forefront of this revolution, driving vast amounts of raw data into a clear and actionable roadmap for business success. By harnessing the full potential of ERP technology, businesses can ensure that every decision, whether it's in logistics, sales, production, or finance, is informed by robust and reliable data.
Sales forecasting
Imagine being able to easily assess your sales volumes for the next quarter or year. Sound like a dream? Well, it's entirely within reach. ERP software analyses past sales data, customer trends, and market conditions to forecast future sales. This foresight is invaluable in planning inventory, production, and managing resources efficiently.
Example: In the case of Leon Paul, Orderwise revolutionised how the business made business decisions. By accurately predicting demand for different types of fencing equipment, the company could optimised its inventory, leading to increased sales and better customer satisfaction. The ease and clarity of accessing and interpreting sales data meant that strategic decisions could be made more swiftly and with greater confidence.
"All the visuals and dashboards are fantastic – it’s clearer and clean-cut and it’s so easy, just two clicks, hit sales reports, sales dashboard and you’re in. The one I use most is the weekly sales day-by-day just to see how we’re doing, how we’re doing so far that day, compare it to how we are on the same day last year, it’s so so easy and it’s lovely to just have it there in a really clean, visual way.”
James Honeybone, Sales Accounts Manager at Leon Paul
Inventory management
Navigating the challenges of inventory management is critical for any stock-centric business, with both overstocking and understocking presenting significant operational nightmares. However, there's a reliable solution at hand. By predicting trends in product demand and scrutinising supplier performance, ERP software helps in optimising inventory levels. This means you have just the right amount of stock at the right time, ensuring happy customers and less waste.
Example: Hunkydory Crafts utilises Orderwise to streamline inventory management and customer service. With real-time visibility into stock levels and lead times, they can promptly inform customers about product availability. This approach has elevated their customer service, enabling them to offer pre-order options and accurately manage customer expectations.
“Orderwise has given us a much better idea of lead times for our customers. We know exactly where stock is, what the WIP is and when products are coming because we can see products that are on order. So if somebody calls up and something is out of stock, we can say “We’ll have more stock in two days’ time, do you want to order it now?”
Nicola Rand, Project Manager at Hunkydory Crafts
Supply chain management
In the world of supply chains, it's not just about moving stock from A to B. It's about smartly predicting what's needed next, from ordering materials to getting products into customers' hands. ERP systems are the perfect guides here, helping businesses to adapt quickly to market changes, manage risks wisely, and keep everything running smoothly and efficiently.
Example: Consider Running Imp: Before using Orderwise, tracking raw material shipments and production schedules was chaotic. After implementing the solution, they could predict and track deliveries precisely, aligning production schedules seamlessly.
"As our business has grown and grown, we’ve needed to become more efficient. Orderwise has played an integral role in helping us keep our supply chain systems streamlined, from the factory shelf to the customer’s door."
Chris Illsley and Caroline Birkin, Managing Directors at Running Imp
Turn your own data into a tool for change
The true power of modern business lies in the ability to predict and adapt. By harnessing this power, companies can navigate the complexities of sales, stock, and supply chain optimisation with confidence and precision.
ERP systems stand at the forefront of this revolution, turning vast amounts of data into actionable insights and foresight. These systems are not just tools; they are the navigators guiding businesses through the ever-evolving market landscapes. And when it comes to bringing this potential into your business reality, it all starts with implementing a robust solution like Orderwise.