EPR or Enterprise Resource Planning (ERP) software, had been insisting manufacturers update their IT infrastructure ever since 2018-19 when the EPR trend started dominating the chemical manufacturing industry. Not only is, the chemicals industry one of the fastest growing industries which makes up almost 5% of the global GDP, but it is also undoubtedly the most crucial to human life. And thus since the industry has so much riding on them manufacturers are compelled to continue improving and upgrading their operations. EPR has been successful in revolutionizing this industry. With simple EPR registration softwares and initiatives, manufacturers have been able to improve their visibility, enhance supply-chain efficiency, and meet the ever-growing demand for the products even when the shelf life of most of these products has to be limited to maintain their efficiency.
Benefits of EPR for the Chemical Manufacturing Industry
The main reasons why EPR is trending among Chemical manufacturers are as follows:
The EPR software consolidates the entire chemical manufacturing business data and makes it available at a centralized location, thus enabling the flow and access of real-time information across the organization at all times. This primarily helps in advanced data analytics and predictive modeling which helps business managers to take informed decisions. But most important it enhances the visibility of the business process thus reducing chances of error.
Improves Supply-Chain Efficiency
EPR helps connect all parts of the supply chain by offering end-to-end visibility across the supply chain operations. This improves collaboration among all its stakeholders and makes decision-making fast and prompt. Thus manufacturers can keep track of inventory costs at a glance and make strategic sourcing decisions for raw materials and other supply & demand planning. This smooth and fast decision-making reduces mistakes and increases potential profits.
Meets Regulatory Needs
With the help of the ERP software chemical manufacturers can define Standard Operating Procedures (SOP) for the safe handling of hazardous chemicals and equipment, it can also regulate the maintenance of equipment, and management of hazardous substances while simultaneously meeting the regulatory needs by collecting, organizing, and reporting information for DOT, OSHA, ISO, EPA and so on.
Prepares for Audits & Recalls
ERP can also be used for its “lot traceability feature”, which supports full life cycle tracking of chemicals and materials, while also offering the ability to track chemicals and materials from the shipping to the end application. In the case of any quality control issue, the manufacturers can easily detect the affected batch without jeopardizing the entire operation. Therefore, the manufacturer can just recall that one batch just limiting losses.
Why EPR Trends in the Chemical Industry
- Increase in the Use of ERP on the Shop Floor: EPR can not only be used for managing formulation, compliance, Quality Control, traceability-related issues, inventory control, costing, and accounting but with the increase in competition even the production managers at the shop floor need to use EPR to fetch the production data in real-time while conducting inspections, managing the machinery & scheduling process more efficiently, and passing on the critical business data to the management at the top floor.
- Digitization: Digitization or the use of Artificial Intelligence (AI) in EPR is gaining popularity among chemical manufacturers as it enables the system to anticipate potential problems before they turn into major crises for the manufacturers. Thus digitization saves the process from being jeopardized by small mistakes and makes rectification easier thanks to the visibility of the business process.
- Mobile ERPs: One of the rising trends in the chemical manufacturing industry is the Mobile EPRs. Which provides functionality and ease of access to information on all devices, anywhere at all times. Thus with all the required information at their fingertips, the execution is made much easier thanks to EPR.
- Automation in EPR: The focus on automation within ERP solutions has become quite popular among manufacturers because it reduces production timeframes, and costs, while also reducing instances of errors and increasing efficiency.
According to a report by Statista the global ERP software market is supposed to reach $100.7 billion by 2025. The main reasons for this growing trend of the incorporation of EPR in the chemical industry are the increase in visibility of the business operation as well as the consolidation of all business information that helps the execution of business decisions far more easily. It is because of these reasons that Mobile EPR, usage of IA, and automation in EPR are gaining popularity among chemical manufacturers all over the world, making business execution easier for the upcoming generation.