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MIRAI Solution is a leading provider of IT consulting and services, specializing in delivering innovative, reliable, and cost-effective technology solutions that empower businesses to achieve their strategic goals. With a team of industry experts and a deep understanding of emerging technologies, we help organizations transform, optimize, and streamline their operations in an increasingly digital world. 

 With 30+ years of cumulative experience and a team of industry professionals, we bring the right blend of knowledge and innovation to every project.  

The manufacturing industry involves the production of goods using labor, machines, tools, and chemical or biological processing. It transforms raw materials into finished products, which can be sold to consumers, other manufacturers, or retailers. This industry spans various sectors such as automotive, electronics, textiles, food and beverage, and machinery.

Challenges and Solution by ERP System in Manufacturing Industry.

Challenge 1 : Inefficient Production Planning

Solution - ERP systems provide real-time production scheduling and resource management, helping manufacturers optimize machine usage, labor allocation, and material requirements. Modules like MRP (Material Requirements Planning) help reduce downtime and overproduction.

Challenge 2 : Inventory Management Issues

Solution - ERP tracks inventory levels in real-time, reducing excess stock and stockouts. With features like automated reordering, warehouse management, and barcode/RFID integration, inventory accuracy and availability are improved.

Challenge 3 : Lack of Visibility Across Departments

Solution - ERP systems integrate data from various departments like production, finance, HR, sales, and procurement into one platform, offering a unified view of operations. This improves coordination and decision-making.

 
Challenge 4 : Quality Control

Solution - ERP systems include quality management modules to monitor production standards, in-process quality, pre-dispatch inspection.

Challenge 5 : Cost Overruns and Budgeting Issues

Solution - ERP allows detailed tracking of costs across production stages, enabling accurate budgeting and cost control. Real-time analytics and reporting help identify where money is being lost and how to improve margins.

 
Challenge 6 : Delayed Order Fulfillment

Solution : With ERP’s order tracking and production planning features, manufacturers can meet delivery deadlines more consistently. Integration with logistics ensures on-time shipping and delivery.

Challenge 7 : Compliance and Reporting

Solution : ERP systems help to generate statury and government compliance report and provide integration with government portals for faster and easy management of government reporting and auditing requirements by automatically generating reports and maintaining data logs.

Challenge 8 : Data Silos and Duplication

Solution - ERP centralizes all company data, reducing duplication and eliminating data silos. This results in more reliable information for analysis and decision-making.

The Retail industry involves the sale of goods and services directly to consumers for personal use. It operates through various channels, including stores, online platforms (e-commerce), and mobile apps. Key sectors include fashion, electronics, groceries, home goods, and more. The industry is highly customer-focused, driven by consumer behavior, market trends, and technology advancements. 

Challenges and Solution by ERP System in Retail Industry.

Challenge 1 : Inventory Mismanagement

Solution : ERP systems offer real-time inventory tracking across multiple store locations and warehouses. Features like auto-reordering, stock alerts, and barcode/RFID integration ensure that inventory levels are accurate and optimized to prevent overstocking or stockouts.

Challenge 2 : Poor Customer Experience

Solution : By integrating CRM (Customer Relationship Management) modules, ERP helps retailers track customer preferences, purchase history, and feedback. This supports personalized marketing, better service, and loyalty program management, enhancing customer satisfaction.

Challenge 3 : Lack of Omnichannel Integration

Solution : ERP systems unify data across in-store, online, and mobile platforms, providing seamless customer experiences. Inventory, pricing, and customer information are consistent across all channels.

Challenge 4 : Inefficient Supply Chain Management

Solution : ERP improves supplier management, demand forecasting, and logistics coordination, ensuring faster restocking and lower procurement costs.

Challenge 5 : Complex Pricing and Promotions

Solution : ERP systems allow retailers to create and manage dynamic pricing, discounts, and promotions across various products and channels from a single dashboard.

Challenge 6 : Data Silos Between Departments

Solution : ERP integrates departments like sales, finance, HR, warehouse, and marketing into a single system, giving a centralized view of the business and improving decision-making.

Challenge 7 : Compliance and Taxation with Multi Currency

Solution : ERP ensures tax compliance, handles multi-currency transactions, and supports regional regulations, making it easier to expand across states or countries.