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Today, I will talk to you about the five benefits of integrating ERP and Internet of Things technology. Many people may not know much about it. In order to let you know more, Xiaobian summarized the following contents for you. I hope you can gain something according to this article.

Modern ERP systems seamlessly connect all business applications into a unified platform, increasing data visibility, control, and decision-making capabilities. However, ERP business processes today are largely unchanged from how they were designed decades ago. However, integrating ERP with the Internet of Things (IoT) can be very beneficial-both for back-office and customer-facing processes.

IoT solutions allow data from a variety of external machines and devices to be shared with ERP systems in real time, eliminating the need for companies to struggle to connect their internal business applications and processes with external data. The data collected from these IoT devices is real-time and highly accurate, increasing the chances of actionable insights.

What are the benefits of integrating ERP with IoT?

Better decision making due to improved data quality and availability

Gartner estimates that more than 26 billion IoT devices will be in use by 2020. This means that the amount of data available to companies is growing rapidly, but many of the companies collecting this data are not ready for the challenges posed by large amounts of data. Successful digital transformation requires actionable insights that depend on the quality and quantity of data collected by IoT devices. Integrating ERP with IoT improves data quality and availability and ensures that any changes in asset health and utilization are reflected directly in the ERP system in real time. These incidents will be notified to all concerned, enabling them to take action as needed.

Real-time business insights

Integrating ERP with IoT data helps organizations gain critical business insights immediately. The continuous flow of data from IoT sensors and devices allows companies to perform real-time analytics that help them gain actionable insights to improve decision making. These actionable insights from IoT data have the potential to transform your operations from a reactive to a proactive approach. You can also consider integrating ERP systems with AI, machine learning, and the Internet of Things so employees get the right advice at the right time to help them make the right decisions.

improve asset management

IoT can provide real-time information by tracking and monitoring high-value assets, materials or devices in the supply chain. When ERP is integrated with IoT, this information is automatically fed into the ERP system, so that all participants in the supply chain are always informed and can act accordingly. IoT solutions can also alert employees by sending notifications when assets need attention (repair/failure) or are vulnerable to theft or damage.

improve operational efficiency

By integrating ERP with IoT technologies, operational efficiencies can be increased as many manual tasks are automated. With IoT, all activities such as reordering, replenishment, inventory updates, and non-deliveries can be tracked and automatically updated in real time in ERP systems.

improved prediction

Predicting consumer product purchases and usage is a complex process, and when companies misjudge, it creates huge problems. By analyzing large amounts of IoT data, it's easy to make better supply chain decisions. Combining ERP systems with IoT enables companies to take real-time data directly from consumers and send it to ERP systems, creating a direct link between production and consumption. You can capture information about when products are used, consumer demographics, and how often they are used, all of which makes forecasting and planning easier and more effective.

After reading the above, do you have any further understanding of the top 5 benefits of integrating ERP with IoT technology? If you still want to know more knowledge or related content, please pay attention to the industry information channel, thank you for your support.

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