Record financial transactions and optimize inventory
ERP for Automotive Industry
The Automotive industry multiple processes like procurement, assembly, painting, testing, delivery, etc. All of these processes are unique to manufacturing companies and therefore, need a solution that can help the companies streamline and look at all the processes as a stand alone system. Enterprise Resource Planning frameworks can clearly help accomplish this objective and rethink significantly one’s organisational progress.
US Automotive Industry Statistics
Talking specifically about the automotive industry, its fast growth and different regional manufacturing has led to business streamlining problems within any organisation. However, we have some jaw-dropping statistics from the US automotive industry. As per Investopedia reports, US alone produced 4.1 million cars in 2015. As per the Auto Alliance research, the R&D expenditure in an automotive industry is nearly $100 billion, with $18 billion per year spent alone in the US. In 2015, approximately 2.6 million vehicles worth $65 billion were exported by United States to over 200 countries across the globe with additional exports of automotive parts worth $81 billion approximately. Select USA report mentions International automakers have $52 billion invested in U.S.-based production facilities and directly employ more than 97,000 Americans, which makes it the world’s second largest automotive manufacturing country. According to the Auto Alliance, the automotive industry spends nearly $100 billion on R&D, out of which, $18 billion per year is spent in the United States.
Need for ERP in Automotive Industry
With ERP solutions implemented into business process the difficulties in overcoming unavoidable industrial challenges like labor fficiency, marketing, inventory and delivery management, vendor and high quality customer service are completely nullified. Such frameworks provide particular organizations with a far reaching set of elements that helps in tracking and analysis of current policy making, rolling out sensible improvements and control departmental work.
- Automotive maintenance
- Electronic document database
- Finance management system
- Human resource management
- Integration with communication channels
- Inventory management
- Order management system
- Service management
- Sales management
Deskera ERP Benefits for Automotive Industry
- Accelerate your core purchase process: One seamless ERP software system leverages you to accelerate your business purchase process from quotations to invoicing, payments, returns and goods receipts.
- Simplify your business order to cash process: Collaborate your sales, finance and delivery teams to improve quote accuracy strengthen revenue recognition processes and eliminate billing errors.
- Delight your customers: Understand your customer’s interests and concerns by capturing customer related data in a central repository.
- Easily manage suppliers: Track orders, current and future deliveries, your buyer workloads and subcontracted orders through a smart management of approval processes from order to receipt.
- Know your accounts: Replace manual journal entries with a smart accounting system to effortlessly manage your accounts through a flexible and comprehensive chart of accounts.
- Optimize your inventory: Anticipate demand and receive order alerts for inventory shortage and overstocks beforehand. Dynamically manage and automate all stock operations to enable stakeholders get the right product at the right place at the right time.
- Track full movement history: Obtain complete history of every inventory movement to track problems through intuitive and customizable reports for monitoring and management of the overall inventory cycle for your organization. Get a view of integrated operations of your organisation.
- Enhance the product process cycle: Get elaborate product data with quick inventory valuations to easily maintain optimal product renewal cycle.
- Item master management: Maintain a central repository of all inventory items across chain of stores. This feature lets you create a product catalog to manage a storehouse for each product offered across multiple stores and stock consumption and service offering processes.
- Manage end-of-day operations checklist: Monitor daily tasks by defining EOD checklist to your employees. It offers a detailed information regarding auto shipment, cycle count, incoming transfer and sales.
- Financial data at your fingertips: A real-time and steady view of your finances increase your profitability and leverages your managers to make quick decisions. Say bye to tiresome, fallible data entry and the drudgery of spreadsheet reports.
A 2008 published study by CIO Magazine revealed that over 85 percent of respondents strongly agreed that ERP frameworks formed interim part of their organisation operations and that they “couldn’t survive without them.” Today, about 10 years after the fact, this study result still remains the same. We live in a world where seamless integration with technology has the power to provide a competitive advantage to almost any kind of organization from any type of industry including automotive.
Deskera ERP is designed to reduce incompetence and boost your organisational productivity. Our ERP software for automotive industry is easy to learn, scalable and requires low maintenance.
Contact us now to know more on how can we help you streamline your automotive business.