In the distribution industry, ERP software is crucial for ensuring accurate inventory management, reports and demand planning. ERP software vendors are always looking for ways to improve and enhance their distribution functionality. Here’s a look at five ERP software trends to watch in the distribution industry:
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 merely records 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 organizations in the distribution industry to migrate to intelligent ERP systems. These systems have excellent real-time forecasting and analyzing capabilities, allowing users to more efficiently and effectively make business decisions.
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 are over. These companies are now investing in ERP software that offers more than just the bare minimum. They want robust software with essential capabilities, such as forecasting.
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 what they might need in the future. There is a move in the distribution industry to migrate to ERP vendors that continuously look for ways to improve and enhance their software.
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 quickly access information. In-memory computing also ensures that reports are more accurate in “real time” and allows for the timely viewing of aggregate data.