ERPs: What They Are, When to Implement and Top Choices for Your Business
Introduction
As your e-commerce or wholesale business expands, you may find yourself facing increasingly complex challenges in managing your operations, inventory, and finances. This is where enterprise resource planning (ERP) systems come into play. In this comprehensive guide, we will explore the world of ERP systems, when your business should consider implementing one, and the popular options available in the market. Let's dive in and uncover the mysteries of ERPs!
What is an ERP System?
ERP is an acronym that stands for "Enterprise Resource Planning” and enterprise resource planning (ERP) systems are comprehensive software solutions designed to integrate and streamline a business's core processes, such as supply chain management, inventory control, finance, and human resources. The primary goal of an ERP system is to provide a single, unified view of a company's operations, enabling better decision-making and increased efficiency.
When Should a Business Consider Implementing an ERP System?
As your e-commerce or wholesale business grows, you may encounter some signs that it's time to implement an ERP system. Here are just a few indicators that your business might be ready:
Manual processes are becoming time-consuming and error-prone: If your team is struggling to keep up with manual data entry or tracking inventory and orders using spreadsheets, an ERP system can help automate these tasks and reduce the potential for errors.
Lack of real-time visibility into business operations: With an ERP system, you can gain real-time access to crucial data, such as inventory levels, sales, and financial performance, allowing you to make informed decisions quickly — all within a single system.
Difficulty in managing multiple sales channels: As your business expands to multiple platforms for different channels (ie. Shopify for E-Commerce or NuORDER for B2B), managing orders and inventory can become increasingly complex. An ERP system can consolidate information from various channels and streamline your operations.
Inefficient communication and collaboration: If your teams are working in silos and struggling to collaborate effectively, an ERP system can provide a centralized platform to improve communication and coordination across departments.
Strained financial management: As your business grows, financial management can become more complicated. An ERP system may help to simplify your accounting processes, track expenses and revenue, and provide real-time financial insights.
Top ERP Systems in the Market
There are numerous ERP systems available in the market, each with its unique features and capabilities. Let's explore some popular choices for businesses who have e-commerce or wholesale channels, or even a combination of channels:
SYNC is a fully integrated ERP & PLM Software system designed specifically for the apparel & fashion industry. SYNC is designed to promote Fast-Fashion by reducing lead times, streamlining business processes, increasing employee productivity & highlighting the critical path to ensure on-time delivery. SYNC is used by over 120 apparel companies which include the majority of leading clothing brands, retailers & suppliers of private label apparel.
NetSuite ERP: As a leading cloud-based ERP solution, NetSuite is designed for small to mid-sized businesses. It offers a comprehensive suite of applications, including financial management, inventory control, and order management. NetSuite is highly customizable, allowing you to tailor it to your business's specific needs.
Full Circle ERP: A favorite of many apparel brands, Full Circle ERP can handle e-commerce, wholesale, and even EDI channels. If you’re interested in detailed tracking when it comes to processes such as item creation, production, and purchasing — particularly related to apparel, footwear, and accessories, Full Circle is worth reviewing.
iSync Solutions: iSync is an ERP solution designed specifically for use by apparel & fashion brands. In addition to it’s ERP, iSync provides other connectable add-ons that can help with production management and even B2B sales.
SAP Business One: Developed by the renowned software giant SAP, Business One is an ERP solution targeted at small and mid-sized businesses. It offers a wide range of functionality, including finance, customer relationship management (CRM), and inventory management. SAP Business One is available both on-premise and in the cloud.
Microsoft Dynamics 365: This powerful, cloud-based ERP and CRM solution from Microsoft is built to support businesses of all sizes. It offers a variety of applications, such as finance, supply chain management, and sales. Dynamics 365 is easily integrated with other Microsoft products, making it an attractive choice for businesses already using Microsoft tools.
Odoo: This open-source ERP solution is designed for small to mid-sized businesses and offers a wide range of applications, such as finance, inventory management, and e-commerce. Odoo is known for its modular approach, allowing businesses to choose and implement only the features they need.
Why Choosing a 3PL That Specializes in ERP Integration is Essential
As you embark on the journey of implementing an ERP system for your e-commerce or wholesale business, it's crucial to partner with a third-party logistics (3PL) provider that specializes in ERP integration. Here's why:
Seamless integration: A 3PL with ERP integration expertise can help ensure a smooth, seamless connection between your ERP system and their logistics platform. This allows for timely data exchange, reducing errors and improving overall efficiency.
Expert support: A 3PL with ERP expertise can provide valuable support during the implementation testing & validation process, helping you navigate the complexities and avoid some potential pitfalls.
Scalability: As your business grows, your ERP system and 3PL partnership must be able to scale with you. A 3PL experienced in ERP integration can help ensure that your logistics operations keep pace with your expanding business.
Omnichannel fulfillment capabilities: A 3PL with ERP integration expertise can handle omnichannel fulfillment through platforms like NetSuite, making the entire order fulfillment process for any sales channel efficient, scalable, and reliable.
In Closing
Implementing an ERP system can revolutionize your e-commerce or wholesale business, streamlining operations and providing real-time insights. When selecting an ERP solution, consider your business's unique needs and the popular options available in the market. Most importantly, partnering with a 3PL that specializes in ERP integration can ensure a mutually successful operating foundation, and pave the way for long-term growth and success.
Next Steps
Ramp works with a variety of ERPs and other systems. And, even if we don’t already have a pre-built integration with your system, we’ve published our integration documentation so anyone has the ability to connect with us using an iPAAS integration partner (like Boomi or Celigo).
If you’re looking to scale your fulfillment by integrating your ERP with a 3PL, or aren’t satisfied with your current logistics situation, please consider reaching out to us — a member of our logistics team typically replies within 1 hour.
Call Outs
Resources Mentioned
NetSuite ERP (an Oracle company)
Full Circle ERP (an Aptean company)
NuORDER (B2B commerce software)
MyAtOnce (B2B commerce software)
Contents
Summary: We’ll dive into the world of enterprise resource planning (ERP) systems and learn when your business should consider adopting one, and which popular options are available.
Topics covered: we’ll define what an ERP system is, when businesses should consider using an ERP, and list out some popular ERPs in the market.
Why you should care: Both emerging & established brands should invest time in reviewing ERP-readiness; the right ERP can streamline operations, improve efficiency, and promote growth.
Notes
ERP is an acronym that stands for "Enterprise Resource Planning”
Goal of an ERP system: provide a single, unified view of a company's operations, enabling better decision-making and increased efficiency