Artificial Intelligence or AI is the word of the time. The intelligence is demonstrated by different types of machines which are programmed in such a way that they would mimic the actions of machines.
Can you guess that it was 60 years ago that Artificial Intelligence was first introduced to the world? Let your answer be yes or no. But it is the truth.
But the growth of Artificial Intelligence was not so fast. It had to face many ups and downs and needed the support and dedication of hundreds of experts to reach the present level.
After years of dedication and research operations, AI has now reached a height that it can be used to deliver results.
The development and widespread use of cloud platforms have helped the rapid growth of AI. It has also helped AI to take a grip on the operations of Enterprise Resource Planning Software. With the support of the cloud, AI is able to gather large scales of data from different locations. AI-assisted machine learning can help you make use of this data. It can help to evaluate the data more accurately and precisely.
On-going research and technologies have helped the world to make use of the intelligence of the machines to reduce manual efforts and complete different tasks in a quicker and efficient manner. Any system with artificial intelligence will mimic the actions of humans and act the human way in problem-solving and managing.
AI and ERP system
AI is a tool that helps ERP vendors to improve the performance of ERP tools. Machine learning, a key tool of AI is used by software development wings to ensure better performance of the ERP systems. Besides, the natural language interface is also offered by AI to help the ERP vendors.
How AI benefits ERP?
1. Assures best analytic support
An ERP tool-assisted with AI can ensure more accuracy and data analysis capacity. AI will support you to manage all your tasks in a quicker way by reviewing the data, analyzing the data, and understanding the character of different customers. This also helps you understand the requirements of different categories of customers. After this, a firm will be able to customize the products or services based on the requirements of the customers.
2. Manage warehouse efficiently
Warehouse or inventory management is a key operation for every business. Artificial Intelligence is something that enables the ERP tool to manage the product variants. AI will also help to forecast the demand for a product and auto-calculates the demand for raw materials. Such highly intelligent and analytical services can help the business to avoid disruptions in the supply chain network. It will also prevent the wastage or overstocking of products. IT will also help to track the semi-finished or finished product at different stages of production.
3. Saves time
Machines are manifold faster than humans. When experts make use of Artificial Intelligence to help the machines to make use of an artificially created intelligence to think and work the human way, they become superpowers. AI gives a machine thinking power. The machines will be able to automate activities based on a set of rules. AI helps machines to work the best way to and utilize their speed, productivity and at the same time use their analyzing skills to control the operations.
4. Manage Accounting
AI has brought in drastic changes in accounting. It has introduced special features for expense management; IT will help to automatically generate financial reports for a given period. accounting analytics and auto calculation of the amounts are made easy with AI.
5. Support for forecasting trends
If there is a proper system to predict the trends and demand for a particular product, the business can benefit immensely. It will help the business to increase production or reduce production rates based on market requirements. It will save investment and labor. With AI forecast becomes easier and accurate. It also becomes cost-effective.
6. Manage production
An ERP tool integrated with Artificial Intelligence can help production process and product management. Automatic operation of the manufacturing unit and accurate planning and forecasting of demand makes business simpler and effective. It will also help the business to reduce costs. It will also improve productivity by reducing the wastage of resources.
7. Human Resources Management made simpler
AI transforms an ERP into a proactive tool. Analyzing the working hours and performance levels AI can help the management to manage their workforce. It can also help you to review the experience levels of the employees and speed up the recruitment process.
8. Customer Relationship Management
Customer service gets a boost as AI helps the user to analyze customer behavior and buying patterns. The response of the customers towards the marketing strategies and advertisements can also be assessed with AI support. Apart from assessing customer reaction, AI-based ERP can offer real-time support to respond to customer queries. As AI gives ERP a human touch the tool becomes more humane and eases analysis and review.
9. Sales and Marketing support
Sale is an essential part of a supply chain. How can AI help sales? IT will help you to identify or analyze the sale or demand for every item sold by you. It can also support you to identify green pastures for sales operations. AI is a tool that can assess the mindset of the buyer by studying the purchasing habits and trends. With this essential skill AI will make it possible to market a product and brand a product. The best market for the product and customer demand on packaging and product quality can also be assessed with AI-assisted ERP support.
The artificial intelligence revolution is taking new heights and we could say that an ERP would be useless if we do not integrate it with AI. With the changing times, machines assisted with Artificial Intelligence, have started taking the role of manager, salesperson, customer service person, or even a writer. The experts are now able to provide more thinking and reasoning skills to machines with AI.
A world without AI integrated ERP will be unimaginable in the coming years.