Electronics manufacturing is a high-tech industry with highly competitive demands that require constant scrutiny and adaptability from its leading executives. Having an Oracle Cloud Enterprise Resource Planning (ERP) system for electronics manufacturing is vital to remain competitive and profitable within the fast-paced landscape.
A recent study has shown that manufacturers typically see healthy ROIs from their Oracle Cloud ERP software. This applies only when a qualified ERP system provider implements it properly and when clear goals for software usage are defined.
In that study, the top three areas identified where an Oracle Cloud ERP system yields strong ROIs in the manufacturing industry include:
- business cost savings
- improved performance metrics
- increased efficiencies in transacting business
In this article, we’ll explore what an ERP system is, how it can benefit your electronics manufacturing business, and include helpful tips on choosing the right ERP for your unique industry.
What is an ERP System?
An ERP system is a comprehensive software application that integrates all facets of a company’s business operations into a single, unified system. It typically includes modules for financial accounting, human resources, manufacturing, sales and marketing, and project management.
ERP systems are used in a wide range of industries, including retail, healthcare, manufacturing, and government. They are designed to streamline business processes and improve efficiencies by providing real-time visibility into all aspects of a company’s operations.
Companies can deploy ERP systems as on-premise software, cloud-based software, or a hybrid of the two. Companies install on-premise ERP systems on their own servers, while the ERP vendor hosts cloud-based ERP systems
Oracle Fusion Cloud ERP Solutions & Goals for the Electronics Manufacturing Sector
While all manufacturing companies can likely benefit from a well-qualified ERP system, not all ERPs are suitable for those in the electronics manufacturing sector. Reviewing and testing an Oracle Fusion Cloud ERP to prove it’s tailored to your electronics company’s needs is essential for a successful purchase.
The right Cloud ERP system for an electronics manufacturer should be well-suited to address the unique needs of a short-cycle industry. Some of these needs include:
- support short life cycle production,
- easily allow for continual new product introductions,
- and have robust critical component planning capability.
When decision-makers prioritize the above-listed features and others we address later in an ERP request for proposal, they can be confident in getting a software solution that will facilitate success in their industry.
How Can a Cloud ERP System Benefit Your Electronics Manufacturing Business?
There are many ways an ERP system can be relied upon for your electronics manufacturing business. Some of the most notable benefits include:
1. Improved visibility into all aspects of your business
An ERP system gives you real-time visibility into all facets of your business, from financial accounting and human resources to manufacturing and sales. This improved visibility can help you make better decisions about your business and improve your overall efficiency.
2. Streamlined business processes:
ERP systems streamline business processes by providing a single, unified system for all your business operations. This can help save time and money by eliminating the need for duplicate data entry and manual processes.
3. Improved customer service:
An ERP system can help you improve your customer service by providing up-to-date information about your products, pending work orders, and inventory levels. This can help you avoid out-of-stock and backorders.
Why is a Cloud ERP System for Electronics Manufacturing Vital?
Electronics manufacturing is an industry where it is vital to have an ERP system as part of its planning and business processes. Here are some key reasons:
Short Life Cycle Support
An ERP system for electronics manufacturing must support short product lifecycles. The time from order entry to product shipment can be as little as a few days in this industry. The ability to quickly adapt to changing manufacturing processes is essential to success.
Integrate with New Product Introductions
Continual new product introductions are the norm in electronics manufacturing. An ERP system must be flexible enough to support multiple product lines and configurations and bring products to market faster.
Component Traceability
Full traceability of components and products is essential in the electronics manufacturing industry due to compliance and quality assurance. The ability to track each asset and product through the entire manufacturing operations is critical.
Cost
Costing and margin pressure are constant in electronics manufacturing. An ERP for electronics manufacturing must provide accurate costing information and the ability to perform a “what if” scenario analysis in the event of a global supply chain disruption or market shift.
Manufacturing Simulation
In electronics manufacturing, manufacturers often use manufacturing simulations to verify process capabilities before production. The ability to quickly set up and run simulations is essential.
Implementation and Planning Support
Implementation planning and execution are critical success factors in any ERP project. In the electronics manufacturing industry, the implementation team must understand the unique business processes.
How to Select a Cloud ERP for Electronics Manufacturing
Several ERP systems in the market claim to be tailored for the electronics manufacturing industry. However, not all of them deliver on their promises which can lead to failure.
To avoid adverse outcomes and help you choose the best Cloud ERP system for your electronic manufacturing business, we’ve put together a list of the key considerations:
- Project functionality: Choosing a system that can support short life cycle production, continual new product introductions, and traceability of components and products is essential.
- Costing and manufacturing simulations: Your ERP must have a solid ability to determine the cost of products and run simulations accurately.
- Implementation planning: There must be a deep understanding of the unique business processes and support from your service provider to ensure successful implementation.
The best ERP system for electronics manufacturing must be able to support all of these key considerations.Â
Oracle Cloud ERP: Management Solutions for the Electronics Manufacturing Industry
If you’re looking for an ERP system that can support all of the key considerations for success in electronics manufacturing, Oracle’s Cloud ERP is the perfect solution.
Oracle’s Cloud ERP offers a complete suite of management solutions specifically designed for the electronics manufacturing industry. It includes support for short life cycle production, continual new product introductions, traceability of components and products, costing and manufacturing simulations, implementation planning, and others.
Additionally, when the team at NexInfo provides support, your team can rest assured that they continuously update Oracle’s Cloud ERP with the latest innovations and developments required in the electronics manufacturing industry.
To learn more about Oracle’s Cloud ERP and how it can benefit your business, contact the team at NexInfo today. We’ll be happy to answer any of your questions and help you get started on your journey to success.
