In the distribution industry, ERP software is crucial for any company that wants to run smoothly, while also ensuring accurate inventory management, reports, demand planning and more. As a result, ERP software vendors are always looking for ways to improve and enhance their distribution. Here is a look at five ERP software trends to watch in the distribution industry:
1. Distribution Leaders will Focus on Migrating to Intelligent ERP Systems
Today, industry leaders want top-of-the-line ERP software systems. Instead of choosing ERP software that records merely data and has a basic forecasting ability, they want software that is loaded with all kinds of capabilities, believing this will give them a competitive edge. From Artificial Intelligence (AI) to machine learning and advanced analytic abilities, you can expect many in the distribution industry to migrate to intelligent ERP systems. These systems have excellent real-time forecasting and analyzing abilities, allowing users to more efficiently and effectively make business decisions.
2. Small to Mid-Size Distribution Companies will take Advantage of More Advanced ERP System Software Choices
The days of smaller and mid-size companies relying on free or basic ERP software will decrease. To compete with the competition, these companies will have to invest in ERP software that offers more than just the bare basics. They will have to make the switch to more robust software with plenty of essential capabilities, such as forecasting.
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3. Many Distributors will Focus on ERP Software’s Accounting Capabilities
In a survey conducted by SelectHub, 89% of respondents selected accounting as their ERP software’s most important function . Distributors want software that allows them to account for every aspect of distribution, as well as their company’s finances. In addition, they will be looking for ERP software vendors that not only provide what they need right now but are also working on future capabilities. There is a move in the distribution industry to migrate to ERP vendors that offer intelligent ERP systems that continuously look for ways to improve and enhance their software.
4. There will be a Push for In-Memory Computing
Instead of storing data in disk-based databases, in-memory computing uses random access memory (RAM) for data storage. This allows for the regular caching of data, which gives distributors the ability to access the information they are looking for quickly. In-memory computing also ensures that reports are more accurate in “real time” and allows for the timely viewing of aggregate data.
5. Knowing the Importance of Field Sales, Distributors will look for ERP Software that Allows Reps to Stay Connected Outside of the Office
In the distribution industry, effective communication can be a crucial factor in how successful or unsuccessful a company is. As a result, distributors will opt for ERP systems that provide the best mobile access options, often referred to as the internet of things (IoT). Mobile devices can help ensure that reps have pertinent customer information, such as purchasing history and order information, as well as real-time product information at their fingertips.