A lot goes on in a global manufacturing company, and you need systems to help streamline and manage all these processes. International business requires more attention since they deal with foreign laws and employees, making day-to-day operations more complex. The most effective solution to controlling your global food manufacturing business is implementing an ERP in your operations.
Global manufacturers dealing with food products need ERPs like GoldFinch to manage operations while adhering to industry standards effortlessly and effectively. It integrates all key processes into a standard system to improve efficiency in current and future activities. Not all ERPs work for international manufacturing firms; you’ll need to understand your business needs and requirements first.
So, how will ERP implementation help manage your global food manufacturing, and how to choose the right system?
How ERP Helps Control and Streamline Your Global Manufacturing Business
Your global manufacturing company can benefit from implementing a practical enterprise resource planning solution in its processes in several ways. The solution provides real-time visibility into production schedules, inventory levels, and supplier performance history. It also automates internal manual processes and supports inter-departmental collaboration across the organization.
Here is why you need an international ERP like GoldFinch to manage your global manufacturing operations:
Improved Inventory Management
Inventory management is at the core of every manufacturing business. Having an effective ERP means you have more control over inventory components, streamlined scheduling, accurate demand planning, and perfectly coordinated distribution channels. These benefits allow your company to track inventory levels and make timely orders before stock runs out.
Global food manufacturing firms need an ERP solution the most since they deal with mass production. It means the inventory received and going into production is massive and might need an advanced management system. Implementing an international ERP allows you to track the inventory effortlessly while providing serial and lot tracking access.
Better Production Control
Manufacturing ERPs like GoldFinch effectively improve your company’s production schedule. Using a master production schedule concept, the ERP system represents the products produced in specific quantities, configurations, and dates. It helps with sales forecasting and orders by automatically executing production once the material requirement planning metrics are charted.
To effectively improve production control, the system calculates the material requirements using inventory and bill of material data. It then achieves a transparent workflow by creating purchase orders and shop orders from both local and international vendors.
Eliminates Language, Currency, and Cultural Barriers
International food manufacturing companies operate in different regions with different currencies, exchange rates, and language requirements. You’ll need a global ERP to handle these nuances and ensure operations in your food manufacturing plants run smoothly.
The perfect ERP should facilitate currency translation across different regions, allowing your financial team to view and operate effortlessly despite using foreign currencies. It also improves financial accuracy across the entire organization by automating the calculations in currency translation.
Implementing a global ERP allows your company to establish local language requirements. The system presents all global company information in English if your company’s headquarters are in the US. It eliminates the language barrier by making it easy for individuals to collaborate within your organization despite using different languages.
Another reason you need an ERP in your global manufacturing company is centralized data. The solution implemented allows you to manage the different processes in your international food manufacturing business on a standard interface. It uses a centralized database instead of separate systems to store data from the various departments.
Many benefits come with having a centralized database for your global firm. First, you get a comprehensive overview of all departments and their performance. Identifying and highlighting critical insights into how your business operates is also easy. Managing the functions separately exposes you to data challenges like calculation errors, duplicate records, and miscommunication.
Compliance and Risk Management
The food manufacturing industry is strictly regulated with several compliance requirements to guarantee safe for-consumption products. These legal requirements vary with regions, which makes it challenging for global companies to achieve compliance. Implementing an ERP allows you to keep track of the different compliance and business regulations of the countries you operate in.
Most modern ERPs have risk and compliance management configurations to ensure your business complies accordingly. These features help with human resource management, recipe management, and even tax requirements at every stage of the food manufacturing process. It also helps maintain quality control, which is a primary success factor.
Finding the Perfect Global Food Manufacturing ERP
There are dozens of food manufacturing ERPs, but not all qualify to effectively your international business. You must find a system to streamline your global food manufacturing processes. You can start by answering these questions:
What Financial Consolidation Do You Need?
International companies heavily rely on financial consolidation to effectively run their accounting functions. You’ll need a robust ERP like GoldFinch to provide a comprehensive overview of your financial information from the different plants. Ensure you consider the multiple report sets and the various locations to make automation consolidation easier while reducing human error.
What Currencies, Tax Policies, and Legal Framework Will You Deal with?
Considering the different types of currencies, taxes, and legal frameworks supported is essential before settling on an ERP solution. Note that financial reporting requirements and tax rates vary across borders. Your perfect global food manufacturing ERP should demonstrate success in the areas your business operates.
Will I Need Customization?
Implementing an ERP is not the final step to achieving streamlined and effective global operations. You must customize elements to match your business needs, location, and objectives. Customization can range anywhere from changing your business’s language and currency to adjusting your global reporting requirements.
Thousands of global businesses use GoldFinch to maximize efficiency while streamlining their operations. It is among the few solutions that guarantee your customers high-quality and individualized products within the shortest timeframe possible.
Here are some of the reasons you need GoldFinch to control your international food manufacturing business:
- Improved inventory management
- Supports multi-currency and multi-lingual
- Helps with compliance issues
- Emphasizes a centralized database
Implement GoldFinch today to unlock your global food manufacturing business’s potential effortlessly.