Racing To Success
Becoming number 1 in your area of business is every organisation's priority. Outranking your competitors is a significant consideration if you hope to dominate the race to the podium.
It is the start of the Formula 1 season, and therefore a perfect opportunity to discuss their reactive process development using ERP systems. In this blog, we are discussing the F1 teams, Aston Martin and Alpha Tauri and their use of Enterprise Resource Planning Systems (ERP) to improve their car’s performance and beat their competition to the top spot.
F1 Showcasing Reactive Development Using ERP:
Aston Martin – IFS
Financial Reporting – IFS ERP helps Aston Martin identify where they are spending their money precisely. With the help of the financial reporting applications, IFS ERP allows Aston Martin to analyse, consider, and make fast paced decisions when it comes to adapting to the FIA Federation’s budget allowances and regulations.
Production – Aston Martin uses IFS ERP to identify what car components they have available to them, the state they’re in and how much each part costs to produce and make. This allows them to make speedy assessments on the performance of the car and identify areas of opportunity to gain a competitive advantage.
Alpha Tauri – Epicor
Real-time Data – Epicor Kinetic ERP enables Alpha Tauri be more agile, efficient, and flexible with its real-time data features. The modern cloud-based platform allows Alpha Tauri to access important performance data. As an example, this data allows the team access to data analytics recording feedback from built-in car sensors and analysing them in real time. Real-time is a gamechanger for any organisation when it comes to their data, enabling your team/business to impact your position in the race/market positively.
Production – Alpha Tauri uses Epicor Kinetic ERP to manage and monitor their production operations from a single interface. This allows the F1 Team to manage their inventory and car components centrally. This automated feature of Kinetic is essential to the team as it facilitates valuable cost-analysis models therefore insights including make-or-buy decisions.
Putting Your Business To The Test
So, how can an Enterprise Resource Planning (ERP) system give your organisation the competitive advantage it needs to take pole position in your market? Or to keep you in pole position long-term.
An ERP system can provide you with the ability to…
Manage processes such as; finance, manufacturing, supply chain, inventory management and commerce. Therefore, helping to streamline your operations, help reduce costs and optimise workflow.
Have access to accurate and up-to-date data. This helps inform decision-making and can improve operational efficiency.
Reduce manual processes and automate tasks. This helps to reduce the amount of time spent on a task and it allows staff to focus on more value-added activities.