Assessing KPI or key performance indicators to measure success is very important for any business. In this context we will try to figure out the key performance indicator that you’re ERP Software Should Track for your business success.
The perfect ERP solution will always help you to make the right business decisions and the right business deals in real-time. Hence ERP is not just important it is a must. To make sure that the ERP is right on track and your business is getting the best out of it, it is very much advisable that you know the 12 KPI that will help you to assess the same. Let’s find out some of the key performance indicators to measure success.
Integration: AS all the important Data and key matrices are stored in a single platform in the shape of ERP solution, in case you do not get access to it its time.
Cycle period: ERP helps you to monitor your production right from the begging to the end of your production.
Inventory Turns: Most of companies replace or sell inventory over time. In case your inventory is getting slow because of some low or inefficient inventory management the time you get a perfect ERP solution. It will help you to get rid of those that are not productive.
Inventory deviation: To check out what is the actual inventory in use and what you think is in use an ERP solution is important. ERP helps your company to track down the actual inventory getting used.
Costs: An effective ERP solution helps you to check out the labor cost, equipment, raw materials, and several other costs involved.
Downtime: The case for any downtime in your production can easily be entered in the ERP that you have implemented.
Rejected Ratio: ERP enables you to reduce the scrap leftover from your business production.
Financials: ERP takes care of your daily, weekly, and monthly reports that consist of financial information and data.
Sales: A comprehensive ERP solution helps you to get the best Lead response time and the rate of contact.
QC and QA: An effective ERP solution helps you to get the best QC and AQ performance.
Order Management: ERP takes care of all the sales, shipments, and orders made by the clients or the customers can be taken into account in one centralized platform.
Trends: Your ERP solution can help you to assess the latest consumer trends and behavior patterns in real-time.
These are the 12 KPI that you’re ERP Software Should Track. These KPIs are very important indicators that you should always need to take care of so that you get the best out of your ERP solution.
It is very vital to get those KPI that is assessing the benefits of your ERP in achieving targets. Hence if you are still missing with those important KPI then its time you get it and make sure that you have the best ERP solution in the business.