Your ERP system is a vital backbone of your business. Inaction should never be an option when investing in a new or updating your outdated ERP system. If your system is not supporting the needs of the business, limits your flexibility or inhibits customer service, a replacement is called for.
ERP system replacement is a major business decision, and a major commitment of time and resources, so there has to be good reason to even consider it.
For wholesalers, retailers, distributors and any company that stocks inventory, when optimized, the impact to the bottom line can be significant.
In this acronym-rich industry of ours there’s still one acronym that I hold above all others because its truth is undeniable: GIGO. For those of you who might not remember this one, it stands for “garbage in, garbage out” – and it describes what we all know too-well: the poorer the quality of the data in our ERP application, the less value we’re going to get out of it.
It’s one thing to look at your ERP system and see information that requires your attention. A purchase order request; a contract that’s about to expire, or an invoice that’s overdue for payment. But have you ever tried to identify an ERP activity that should have happened – but didn’t? That’s not nearly so easy.