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How demand forecasting is resolved with ERP
2024 is the year of Cloud ERP, powered by Business AI, and is set to reshape the business landscape. Gartner predicts that by 2028, cloud computing will go from being disruptive to becoming essential to business competitiveness, reinforcing the critical role of Cloud ERP in today’s business landscape.
The need for innovative business models and revenue streams, coupled with the ability to switch rapidly according to business needs, has intensified. Cloud ERP is emerging as the fastest path to complete digital transformation and cultivate advanced business capabilities that touch every aspect of a business.
ERP, automation, and AI
The pandemic led to a wave of automation, freeing up employees’ capabilities to a certain extent and allowing them to focus on more strategic initiatives. Automation and a skilled workforce are vital to the future of ERP.
2024 promises to be the year of enterprise Cloud ERP with AI. Thanks to AI, we can now imagine real-time inventory optimized with predictions, automated markets triggered by demand forecasts and self-healing systems that correct bottlenecks before they become problematic.
Strong ERP Analytics
ERP analytics is no longer just about looking at the past, but also about understanding the present and shaping the future. Just as we now have access to real-time reports that answer “what if” and “what can be done” questions, companies can predict transportation costs with embedded AI and message-based chat analytics, and retailers can personalize customer service based on data analytics.
The possibilities are extensive and include everything from streamlining production processes to predicting energy consumption. As ERP analytics continue to evolve, their role in shaping a responsible and promising future for businesses will continue to grow.
ERP and sustainability
An Oxford Economics study links supply chain leaders to sustainability, highlighting the significant impact of these business choices. The spotlight is now on sustainability as cloud ERP and AI join forces to promote environmentally friendly business practices.
Integrating Cloud ERP with AI accelerates sustainability goals by providing a practical “green book” for tracking emissions, optimizing the supply chain, and ensuring regulatory compliance for a more environmentally conscious future.
