The author advises SMBs to focus on creating a tech stack that fits their specific needs and budget, rather than trying to cover everything. They emphasize the importance of clean, accurate data as the foundation for any ERP system and suggest a phased approach to integration. The article also highlights the importance of scalability in cloud-based, composable ERP tech stacks, and warns of the potential costs if ERP is deployed too quickly. Finally, the author discusses the transformative role of automation and AI in demand forecasting and inventory planning, and stresses that the power of ERP lies in making work simpler and more efficient, rather than having the latest tech.
Key takeaways:
- Small to medium-sized businesses (SMBs) are increasingly opting for cloud-based ERP systems over traditional ones, as they offer more scalability and flexibility.
- Companies must decide between a cloud-based ERP with a full suite of integrated tools or a stack of SaaS solutions, with the choice depending on their specific needs and budget.
- Scalability is a crucial factor to consider when implementing an ERP system, as it allows the system to grow with the business and handle increasing demand.
- Artificial Intelligence (AI) is set to transform demand forecasting and inventory planning, but its benefits can only be fully realized with an integrated ERP system.