Measuring time is one of the most critical factors to running any successful business endeavor. The Austrian School of economics favors the concept of low “time-preference,” or a long-term outlook for an enterprise. From the very start, an owner must be geared towards thinking ahead so they are ready to expand when new opportunities come.
It’s too easy in current economic circumstances to place value on the short term over the long haul. Fear of instability and underachievement clouds companies from looking at the big picture. To invest in your company’s future, find an Enterprise Resource Planning (ERP) that can support your long-term objectives instead of holding you back.
Simplify and Get Rid of the Waste
One way a new ERP can support long-term goals is creating an opportunity to clean up outdated systems. When adapting a piece of technology to address internal needs, simplifying tasks is essential. Instead of doing things the way things have always been done, an ERP implementation is an opportunity to reevaluate business processes. Removing redundancies, waste, and unnecessary spending can greatly impact the way the firm performs. Some companies know that they need to streamline their business processes, but it is hard to know where to start. Datix can help. As ERP experts with 25 years in the industry, we offer manufacturers guidance while taking the time to understand exactly how your business succeeds. Take a business-first approach to ERP with Datix.
Track KPIs
How do you accomplish multi-year goals? Usually, the answer is to start with one year at a time and think about how day-to-day behavior will contribute to those larger objectives. An ERP can support meeting your goals by allowing you to clearly track KPIs (key performance indicators). With these, you have tangible numbers to reference when evaluating how your goals are progressing, and how each part of your business contributes to those numbers.
Let’s just say one of your long-term goals is to offer the fastest delivery times for customers within your geographic area. An ERP can support this ambitious goal by allowing you to track relevant KPIs like cycle time, which is how long it takes you to produce a product. By identifying production slowdowns, you can gradually increase cycle time each quarter to support your long-term goal (learn more about improving cycle times).
Gain Complete Data Visibility
In addition to tracking KPIs, an ERP offers you complete data visibility so you can see how your company is operating. With an ERP, you can assess operations, reporting, monitoring, sales, finance, and accounting all at the same time, and ensure that all of your teams are working together. Instead of guessing, you can precisely schedule and plan for production when it comes to restocking inventory, hiring and allocating labor, mapping out equipment maintenance, organize shipping routes, and more. Gaining insight into these necessary operations will allow your team to develop informed strategies for how your company will expand in the coming years. If you need a partner to support you as your business grows, look to Datix. From the planning to the implementation and beyond, our experts support our clients every step of the way of the evolution of their ERP and their business.
Wrap Up
When bringing your company into the future, you need to set long-term objectives. Let an ERP support you in allowing your organization to meet its goals this year, and every year afterwards.
Worried your ERP isn’t supporting you the way it should? See if you accidently completed one of The Seven Deadly Sins of ERP Implementation
About Datix
With over two decades in the industry, Datix is the ERP consultant of choice for manufacturers and distributors. We believe in “being the best with the best” and look for partners who match our commitment to solving real issues and doing what it takes. Our in-depth analysis of our clients and their business needs allows us to maximize their software investments to the fullest.
