These factors will never lose favor with electronics and component manufacturers as they develop breakthrough technologies, accurately meet the needs, and do business with many suppliers and subcontractors.
But with every consumer or industry trend that passes, electronics manufacturers must constantly add the most important things to their lists. However, we believe that the right ERP system for them is the foundation for building and organizing according to best practices and the company's values.
Here's our list of the features electronics manufacturers can't live without, and how ERP can help bring them to factories everywhere:
1. Gain purchasing power through sales forecasting
The right ERP system for electronics manufacturers is the basis for building and organizing according to best practices and the company's values
When electronics manufacturers have a better understanding of what they're selling, they make more informed decisions about production and sourcing. It's all connected, but it starts with accurate, actionable sales forecasts.
Too few sources and production will freeze until the team gets the missing parts. With too many sources, companies overexpand cash flow. With the right ERP, manufacturers can get part counts from sales data and take advantage of price offers more often.
2. Fully transparent inventory management
It doesn't take a veteran of electronics manufacturing to understand the hassle of managing a large number of small parts while doing rapid assembly. As mentioned earlier, an ERP system that promotes intelligent purchasing practices based on real-time demand and turnover will drive long-term cost savings and mitigate the risks associated with part overruns and shortages.
These benefits continue when inventory management features are added to the forecast. ERP protects sensitive electronic components with process visibility. Users know how parts are organized and the rationale for each replenishment quantity, thus limiting excess physical inventory on-site and making efficient use of inventory management resources. The smaller the volume, the less likely it is to break parts.
Also, consider the benefits of prototyping. If a part placed in a prototype is damaged due to poor inventory management, how likely is that sample to develop into a mature product? In all three cases, the ERP-enabled inventory process helps electronics manufacturers reduce the risk of the parts that bother them the most.
Is your electronics factory closed or not closed? Find using advanced batch control.