5 Ways ERP Software Will Improve Your Building Supply Company
Managing a lumber or building material company is complicated. There is a lot to worry about, like inventory controls, customer retention, supplier relations and POS hiccups. That’s why an ERP system can be a big help.
Regardless of where you fall in the construction supply chain – be it a logging company, hardware store front, building supply centre, wood treating facility or wood crate manufacturer – ERP software can be a massive boon to your organization.
ERP platforms offer a comprehensive suite of software modules for various departments, including finance, purchasing, inventory management, customer relations management, the point of sale and more. By using a holistic IT solution like an ERP for your building supply company, you can expect to benefit from the following:
Inventory and Stock Management
Inventory and stock management is a critical component of any retail, supply or distributor company. With an ERP platform unifying your systems, POS and e-commerce systems can be used to automatically complete critical tasks. Furthermore, the position of inventory items, in the pipeline and in the warehouse, can be easily tracked in real-time. This inventory automation means that products can be delivered to your customers with greater rapidity and accuracy.
Effective Finance Control
Finance control is also critical because inaccurate financial data can result in lost revenue, thus compromising your ability to compete. An ERP system for your building centre finance department automatically populates with financial data input at crucial points in the process, like at purchase order generation, or the point of sale. Through automation, you benefit from increased finance data accuracy and faster month-end consolatory ability. Visibility of outstanding invoices also improves, leading to greater profitability through reduced loss.
Better Client Management
ERP software can be a massive boon to managing data on your ever-mounting client list, allowing you to track order histories, previous conversation notes, contact details, and previous purchase orders for swift reordering. By having this data readily available you can better respond to client needs, thus improving customer relations.
Unified Operational Vision
By using an ERP system to integrate departments, your company benefits from a unified vision of operation, ensuring that everyone is on the same page. Through this unification, decision makers gain real-time access to the data they require, regardless of which department would normally have that data stored. Another benefits is that processes flow from one department to the next automatically and instantly, guaranteeing accuracy and increasing the flow of your pipeline.
Empowered Decision Making
Related to the unified vision of operations is the increased visibility afforded to your decision makers by the reporting capabilities available in some ERP systems. Through use of these business-wide systems for your reporting and dashboarding needs, your company benefits from automatically aggregated information from all your departments into visual, consumable reports. This real-time organization-wide visibility can help you make critical decisions, gain valuable insights, review process and identify inefficiencies and resolve them accordingly.
By implementing an ERP solution for your building supply company, your team will benefit from better inventory and stock management, more accurate finance control, improved client relations, more effective cooperation and empowered decision making. These benefits allow you to grow your business by increasing the efficiency and output of staff, rather than by increasing the number of employees you have.