Ramco Systems

Managing inventory well is hard enough, but what makes it harder in the long run is the bottleneck caused by the absence of critical parameters. Here are the most important inventory metrics that manufacturers need to be aware of : Product quantification: When quantifying the product to be used in the inventory, it’s recommended to follow a unified approach. This means the same units of measurement be used for the product across different inventories and packaging formats. The benefit of doing so is twofold: It helps end-users make comparisons quickly and easily—simplifying the decision-making process—and helps you do inventory valuations better. Packaging mapping: Although manufacturers are free to adopt any packaging scheme, it is much better if the product number and packaging size have a clear mapping. For instance, the product with code P050 can be packaged in sizes of 50 units each. The immediate benefits are smoother invoicing and procuring, while the long-term benefit is a more...

 Cloud ERP is here to stay, but how much can we expect it to grow? Recently the research firm Gartner came up with some estimates for the coming decade. According to it, 47% of the organizations were planning to migrate to cloud within five years. At the same time, though, 30% of the companies said they’d like to retain control and use an on-premises system. However, many experts are of the opinion that the actual growth is very likely to beat these estimates by a huge margin. They reason that as cloud is still far from its maturity peak, its impact potential is not fully understood. Full-Scale Integration: The Key Advantage of Cloud ERP Systems One of the primary reasons for the rapid adoption of Cloud ERP software is its ability to provide full-scale integration. Traditional, on-premises ERP systems often operate in silos, making it difficult to manage data flows and business processes seamlessly across various functions. In contrast, cloud ERP solutions break down these barriers...