Supply Chain Management (SCM) is the management of the flow of goods and services and includes all processes that transform raw materials into the final product.
Challenge – SCM planning depend on the actual requirement of the final product. The final product requirement tells about the actual requirement of raw materials and the process required for the final product. But actually, many industries fail to predict actual requirements.
Solutions – Accurate product forecasting is the solution to this problem. Effective ERP help industries analyse and forecast the requirements of product monthly wise and territory-wise. ERP like ” Open sources ERP ERPNext and SAP B1 for small and medium size industries and SAP S/4 Hana for large enterprises” help in forecasting and analysis.
Data from other sources – ERP helps in the forecast and analysis of other sources of data. ERP also provides facilities to align other sources of data with him.
Benefit – Correct data prediction help in reducing stock and other overhead costs. It also helps to meet customer demand. It also helps to transform dead time into productive time.