What are the Absolute key ERP modules and their functions for the production industry

Absolute ERP modules are specifically designed in such a way to fulfill your business requirements and needs. It helps to manage your business activities and handle the operations. These functions make it beneficial for employees to do their work with extra efficiency. Every module is attached to the Absolute ERP system, by using the ERP system, offers a single platform of exact data.

Absolute ERP systems are toolboxes then modules act as a screwdriver, hammer, and other tools that have different uses.

Let’s get a closer understanding of the key ERP modules and their functions

1. Procurement ERP Modules

The procurement ERP module helps your company secure the materials or products it needs to sell or produce goods. Organizations can make a list of approved vendors in this module and tie suppliers to certain items, assisting with supplier relationship management. This module helps to automate and track the quotes.
Once an organization accepts the quote, the procurement module helps the purchasing department to prepare orders and send them out. It can track the purchase orders, sells orders, and update the inventory levels automatically once the order arrives.

2. Finance ERP Modules

Finance modules are the key ERP software that enables the current financial status and future outlook of your business. Key functions of this module are included accounts payable (AP), accounts receivable (AR), and managing the general ledger. It also makes critical financial documents like balance sheets, payments receipts, and tax statements.
Financial management modules can easily automate the tasks related to billing, vendor payments, account reconciliation, and cash management and help the accounting department to view the current revenue with recognition standards. It also has financial planning and data analytics that helps employees to prepare the key reports included with profit and loss status, and board reports, and predict the future demands based on reports.

3. Inventory Management ERP Modules

Inventory Management modules allow controlling inventory by tracking item quantities. ERP module system gives a clear picture, just not for the current inventory but also for future inventory, via integration with the procurement tool. This is a piece of software that helps to manage the business inventory costs, and ensure that they have sufficient stock. The inventory management module can weigh sales against the available products that help companies to make quick and right decisions which boost margins and improves inventory. This key module helps to prevent stock-outs and delays, which helps to enrich customer satisfaction.

4. Manufacturing Modules

Manufacturing is a masterpiece of ERP. Today manufacturing ERP software typically have production management and manufacturing execution system. The manufacturing module assists manufacturers to plan production and ensure they have everything they need for planned production runs, like raw materials and machinery capacity. During the manufacturing process, it can update the status of goods in progress and help companies to track real output against forecast production. It also offers a real-time picture of the production floor and captures the final goods and progress. This module can calculate the average time of producing the item.

5. Order Management Modules

The order module can track the orders from receipt to delivery. ERP systems help to feed all the orders to the warehouse, distribution center, or retail store once customers place the order and track their status as they’re prepared, fulfilled, and shipped to the customer. The order management module helps to prevent orders from being lost and encourages on-time delivery rates to make customers happy and eliminate unnecessary expenses for expedited shipping.
Advanced order management applications can assist an organization to determine the most cost-effective option for fulfilling an order.

6. Warehouses Management Modules

The warehouse ERP company helps to deliver a great return on investment for a business that operates its warehouses. Warehouse processes are based on the layout of the facility, this application will notify you from picking to packing and shipping it. The warehouse module helps to support different picking strategies like batch picking, zonal picking, wave picking, etc.
When the warehouse module is merged with inventory management and order management applications, employees can quickly find the correct products, and products get dispatched out the door quickly. Fast delivery ultimately improves customer satisfaction.

7. Supply Chain Management Modules

The Supply chain ERP module helps to track each step in the movement of suppliers to manufacturers to distributors to retailers or consumers. It helps to balance any materials, products, return, refund and replacement.
Supply chain management has included a wide array of modules such as procurement, inventory management, manufacturing, warehouse management, and order management. However, it has the core capabilities of those modules.

8. Human Resource Management Modules

The human resource management module usually encloses all the features of a workforce management application and offers additional capabilities. HRM module can view the employee's reports like- documents, performance reviews, job descriptions, and offer letters. HRM module can track not only employees working hours but also time off, sick days, leaves, other perks, and benefits information.
HRM modules can store a huge amount of information on every employee across the organization, it helps to remove a lot of duplicate and inaccurate data from the organization.

9. Workforce Management Modules

The workforce management module is similar to the human resource management module; however, it is designed for organizations with accurate shift and working hours and attendance, so that employees can be monitored and their productivity.
The payroll management module also comes under the workforce management module. The payroll module automatically distributes paychecks to the employees and gives a piece of proper information about appropriate taxes, and expenses reimbursement.

10. Customer Relationship Management Modules

Customer relationship management modules are one of the great features of ERP modules that help to store all the information of prospects. CRM modules of ERP software are included with the company’s communication history with a person like- the date and time of email, calls, and purchase history. CRM module helps to improve customer service so that employees can easily access all the information when they need it.

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