Intelligent ERP using AI and Machine Learning – Future ERP

Technology , Posted by on 2019/05/29 0     Comments
Cloud ERP

Machine learning and Artificial Intelligence has been slowly making its impact on our lives over the past couple of years. Such is the impact that areas such as transportation, education, banking, fashion, etc have already come under its area of influence. In the corporate sector, organisations are slowly turning to use AI and Machine learning in order to improve ERP tools. The reason being that conventional ERP models have not been able to leverage the best out of their capabilities, so AI, Machine learning, when combined with Cloud ERP, delivers the best possible combination in order to extract the best of the ERP system.

1. Future of ERP is to become a self learning system:

It is necessary for cloud platforms to have an information system which has a self-learning capability which involves the usage of machine learning and artificial intelligence throughout the entire network. A cloud ERP system when fully integrated with machine learning and artificial intelligence systems creates a repository of machine learning and artificial intelligence algorithms by which employees can be trained over the entire system.

2. Intelligent ERP will have ease of tracking risk:

Machine learning algorithms can find patterns in the large voluminous data sets using constraint-based algorithms. These algorithms can easily predict many parameters like say supplier demands, etc. This can be further scaled up to find the riskiest of suppliers, thereby minimizing the possible risk.

3. Data analysis and literacy:

With the help of the predictive models of machine learning and the use of Big data, one can get better information from suppliers. Also, Cloud ERP helps to improve data literacy by creating reports on huge data sets. These reports, when combined with AI, provide valuable insights which are not visible otherwise.

4. Product quality improvement:

Future ERP will have inbuilt machine learning algorithms to help in the overall improvement of the product as they can analyze, learn from customer behavior, failures of product and then come up with insights which help in improving the quality of the product.

5. Improvement in demand forecasting:

Intelligent ERP will have a better scope of forecasting demand and ensuring better collaboration with suppliers which happens after machine learning algorithms have been implemented on accurate data.

6. Reduction of breakdown of equipment:

Providers of Cloud ERP systems can capture machine-level data and implement machine learning techniques in order to find patterns which concern performance on the production floor. This, in turn, can be used to predict when parts of a machine need to be replaced.

7. Reduce gap between processes:

Cloud ERP can reduce the configuration gap which exists between PLM, CAD, ERP and CRM systems by the proper usage of AI and machine learning algorithms. This, in turn, can process in the operating cycle.

8. Root Cause Analysis:

Future Cloud ERP which is equipped with machine learning algorithms can very efficiently get to the root cause of a particular problem based on the earlier history of similar problems.

9. New opportunities:

One of the best uses of Cloud ERP coupled with machine learning and AI is the scope of the algorithms being used on the datasets being generated by the ERP systems in order to identify new opportunities with the data. This can be used in devising new objectives and goals for processes say manufacturing, sales, service, etc.

10. Bridging the intelligence gap:

Intelligent ERP can impact huge data. One can reduce the intelligence gap which most companies face today, as they go forward to adopt new business models by providing IoT based data to AI and machine learning apps on a regular basis.

It has been brief on the way AI coupled with machine learning can help Cloud ERP optimise performance for an organisation. We, at Vyrazu Labs, have been proficient in the development of ERP applications, so if you do have any requirement on this ground please get in touch with us for a FREE CONSULTATION.

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