Being able to view your company’s data through a cloud-based ERP system is the backbone for every aspect of how Industry 4.0 information will provide value to your company. The dashboards in your ERP system will be the focal point of analyzing all the data from the elements of the Industry 4.0 Wheel presented below.
Many, if not all of the technologies presented in this wheel are being actively considered by thousands of manufacturers who are looking for a competitive edge through cloud applications like big data analysis, process automation, 3D printing, connectivity with the Internet of Things (IoT), robotics, and the others. Not all of these technology solutions may be applicable to your business, but an ERP system is the best way to communicate how the information these solutions develop can be valuable to your staff.
While each aspect of Industry 4.0 functionality has its own solutions and output, manufacturers are realizing that utilizing the information from separate systems is not the optimal way to analyze company activities effectively. The growing use of ERP systems to combine important data into one solution is widely accepted in manufacturing as providing significant value by eliminating redundant output and evaluation. An integrated ERP solution is the best way to evaluate valuable data from multiple Industry 4.0 technology capabilities.
According to lending executives at PNC Bank, financing for the acquisition of ERP systems has been a major source of lending business for the last two years. Many of their customers have outgrown legacy software and spreadsheet prevalence in everyday operations to gain competitive advantage from analyzing real-time data presented via dashboards and Business Intelligence (BI) tools readily available in leading ERP solutions.
Application Program Interfaces (API’s) are commonly used to share pertinent data between two systems. This technology allows an ERP solution to present the latest information from factory automation reporting systems, including big data analysis, performed in the cloud. A company has the best chance of effectively evaluating important data from multiple sources when it is all linked to an ERP solution that is most easily and securely accessed by a variety of decision makers throughout the business. And ERP systems are most flexible in formatting needed information for evaluation.
When strategizing how your company will best utilize the important information generated by the many technologies associated with Industry 4.0, know that the best way to make important data visible to your business leaders is utilizing the capabilities of your ERP solution. Financing for ERP systems acquisition is more readily available and financing rates are at low levels that may be adjusted downward in the coming months.
DVIRC has over 25 years of solution agnostic ERP system selection experience. If you would like a complimentary consultation to discuss your business needs and address how better processes and software can support your growth, contact us here.
Harry Landsburg, DVIRC’s Director of Business Process Technology Consulting, has worked with over 400 companies to document how their business processes can best be supported by upgraded or new software. His approach to relating the way his clients operate to the technology marketplace results in a successful selection and implementation outcome.