Why improve Material Management Any avoidable amount spent on materials or any loss due to wastage of materials increases the cost of production. The objective of materials management is to increase the efficiency in materials…
Category: ERP
Functions of MM system
Basic Functions of MM system MM system is basically divided 9 major sectors that include: 1.) Basic setup 2.) Stock Management 3.) Material Requirement 4.) Budget management 5.) Pre-procurement activity 6.) Procurement activity 7.) Material…
Why Industries need a Material Management System
Importance of MM Operational efficiency in an organization is heavily impacted by their material management. If you want your industry to be as efficient as possible in production operations, then mastering material management should be…
How to estimate cost of ERP implementation
How to estimate ERP implementation cost Implementing an ERP is a major project for the industry and it is necessary to do proper research before going for an ERP. Before deciding to go for an…
How companies are becoming data driven
Taking decisions based on intuition is a thing of the past; companies now make decisions based on data. Making data-based decisions are backed by many institutes and senior executives, for instance, Mckinsey Global Institute indicates…
Database & Data warehousing
Database A database is a way to collect the information about a business in an organized manner so that it is available when needed to the person who needs it.A database is a collection of…
Evolution of ERP
Steps in the Evolution of ERP ERP is one of the major part of an industry and using it correctly will help in making the industry more efficient and optimize their supply chain, however ERP…
Optimize inventory through IT(Dell’s inventory obstruction study)
How inventory optimization can be done with IT/ Role of Technology in Inventory Management Inventory has always been a cause for concern for most of the business. Whether you should always be prepared with stocks…
How Technology impacted Supply Chain
Supply chain management is a crucial term that emerged in business in the 21st century. The term was there way before the 21st century, the reason why it gained popularity recently is the advancement of…
How data analytics have changed professional cricket : Criclytics
Data analytics and Sports Data analytics is being used by businesses to analyze data and for other purposes but the effect of data analytics can be seen on other platforms as well such as sports.Data analytics and…