Advancing technologies, followed by a swift digitization of various critical operations has transformed the manufacturing industry, drastically. In fact; with the competition getting steeper, manufacturers, today are quickly implementing and adopting various sophisticated tools such ERP and PLM to gain that cut above.
Several manufacturers are even going a step ahead by integrating ERP and PLM, in order to reap optimum benefits. However; sometimes, integration falls flat.
Now, the question, Does these two systems work together – if yes, how? Before, we delve deep into the ‘How, let us have a very brief idea about how ERP and PLM works in manufacturing industry.
ERP for Manufacturers:
Enterprise resource planning or an ERP solution, forms a robust business system that effectively manages operations such as sales predication, accounting, manufacturing planning & execution, shipping & logistics and customer care & support.
ERP systems enable organizations to plan for orders and profitability by offering manufacturers with a real-time status of their finances.
With an ERP solution in place, manufacturers can conveniently keep a tab on orders and deliveries. The system gives them better insight of inventory, delivery lead times & production bottlenecks.
Usually, companies involved with in-house manufacturing or in-house production of complex and customized products, go for a comprehensive ERP solution for effective information-flow within finance, sales and manufacturing departments.
However; companies outsourcing manufacturing operations, often utilize a smaller set of ERP tools that consists of modules like financial, accounts payable and receivable, inventory and procurement.
PLM for Manufacturers:
Product Lifecycle management or a PLM, offers control of product records across its development stages – right from conception to design and production.