AI is an effective technology to extend the ERP system’s technological capabilities. According to Gartner, by 2020, 80% of emerging technologies will have artificial intelligence as their key component. Embedding AI in ERP can achieve optimization and modernization of conventional business processes. Read this blog post to explore how businesses are driving growth by integrating AI in ERP systems.
Type of AI as per Business Requirements
Touchless ERP
Touchless ERP drives efficiency, improves inventory traceability and visibility, enhances order fulfillment process and automates transactions. It combines a touchless digitization engine, APIs and robotic process automation (software robots) in a nonintrusive manner to automate processes. The probability of manual errors significantly reduces too.
At Oodles ERP, we provide customized ERP services that enable organizations to improve business efficiency and eliminate manual operations. Our AI developers use RPA to automate manual tasks using tools like UI path. For instance, we implement RPA in existing ERP systems to improve the efficiency of HR operations. We also develop software bots to automate mundane tasks like resume uploading and matching.
Predictive Analytics
Embedding AI-driven analytics into ERP systems enables businesses to achieve accuracy in forecasting. Predictive analytics uses machine learning algorithms and statistical analysis techniques to extract and analyze data from ERP to spot trends. AI integration enables businesses to capture real-time information including video, audio, and data to accelerate deep learning of existing operations. With predictive analytics, businesses can determine when operating equipment can fail and when maintenance will be required.
Our development team at Oodles uses advanced planning and scheduling tool Frepple to fix typical operational issues faced by manufacturers. We enable them to cut on late orders, manage rush orders, anticipate disturbances and improve service levels. Frepple is effective for the following key manufacturing tasks:
Production Planning: Frepple’s interactive GANTT chart accelerates the task of reviewing and editing production schedules. Using Frepple, planners can automatically allocate resources depending on availabilities and overtime.
Demand Forecasting: Manufacturers can anticipate their supply requirements well in advance with Frepple. It enhances collaboration between planners and sales teams. Using Frepple’s data and planning visualization tools, enterprises can make decisions and turn down a rush order
Inventory Planning: We use Frepple to plan inventory, compute safety stock and reorder quantities while following all inventory policies.
Benefits of Integrating AI in ERP Systems
Improving Customer Service Through Interaction:
AI-powered ERP systems enable businesses to improve their customer service. Businesses can increase their sales and customer loyalty by using chatbots. They enable businesses to resolve customer queries with efficiency and consistency. With AI, businesses can also integrate real-time data from different customer-facing departments to provide a 360-degree view of the customer. If a customer requires field service, AI algorithms can schedule service calls by efficiently analyzing the qualifications and performance of all service team members.
AI-enabled ERP systems can fulfill customer requirements in real-time. Rather than managing a queue of disgruntled customers manually, businesses can use chatbots to answer frequent queries.
At Oodles ERP, our ERP development team creates chatbots using Dialogflow or AWS lex to automate various sales and support operations. Dialogflow builds an intent-based chatbot that solves user queries on a one-to-one basis taking chat history into context. Using Dialogflow, businesses can handle customer interactions with voice and text-based conversational interfaces.
Enhancing Productivity to Maximize Profits:
Augmenting ERP with AI mechanisms can provide a competitive edge to businesses with high productivity. It enables businesses to automate mundane tasks like data entry, accounting and payroll administration, and access all necessary customer data easily.
The focus of embedding AI into ERP systems is to automate repetitive tasks to improve efficiency and reduce errors. It frees up key stakeholders to allocate more time for value-add activities. AI is effective for troubleshooting minor issues and maximizing ERP benefits.
Improving Forecasting Capabilities with AI
Analytics and algorithms play an important role in improving the forecasting capabilities of ERP systems. AI-powered ERP systems can detect seasonalities and make recommendations about increasing and decreasing production.
The global lithium-ion battery materials industry is projected to reach USD 26.45 billion by 2025 driven primarily by the end-user industries such as automotive and consumer electronics.
The lithium-ion battery is witnessing the highest growth amongst all the battery type and is expected to show a similar trend over the estimated period.
Furthermore, high rivalry in this market is expected to lower the price in terms of cost per kilowatt hour (kWh) which will add in the growth of lithium-ion battery materials market.Lithium-ion battery material market that was primarily predominant by consumer electronics segments, such as mobile phones, portable PC’s, tablets, and power tools is now witnessing a paradigm shift to automotive, such as EV's, HEV’s, and PEV’s.
With China dominating the battery production and taking control of intermediary stages in the lithium battery supply chain, no wonder Asia Pacific dominating the global battery production.
At present, China holds nearly 75% cathode materials, 63% of anode materials, 75% of electrolyte supply and 40% separators share in the global lithium-ion battery material market.Raw materials required for the manufacturing of lithium-ion batteries include lithium, manganese, cobalt, nickel, copper, aluminum, and graphite.
The supply chain of cobalt and nickel is prone to risk as only a few countries have controlled the resource stock.
Your heart will probably have this much size inside your chest.The heart consists of four chambers: two ventricles and two atria.
A big blood vessel, Aorta, is the largest artery leaving the heart and transporting oxygen-rich blood in the body.
For instance, the chemical reactions associated with love and other feelings come from the brain and not the heart.
So, minimizing the amount of cholesterol and trans-fat in diet can greatly affect our heart.Due to cholesterol accumulation, the blood vessels might get blocked.
It then results in operations like bypass surgery or stent placement.
So, to avoid serious conditions like this, avoid trans-fats and cholesterol in the daily diet.Avoid Smoking: In recent years, this problem is one of the highest factors affecting the heart health.
Personalization enables your viewers to feel like you know them very well and that you respect them as individual viewers.Personalization can be viewed as a key component to increase both income and user base since it authorizes a company to fragment its shoppers and target them in like manner.
Adobe Marketing Cloud is used to collect information from all your digital and offline marketing resources to make a balanced relationship.Below are some tips to boost your traffic and make your life easier in e-commerce personalization:-Display dynamic contentOne of the best techniques of personalization is to deliver dynamic content to the viewers at the time of their visit on site.
You can create a module in your site for the “Selected items for you” category and in this, you can display the products based on their previous purchase of past browsing history.
Design the homepage of your site/application based on the weather-sensitive like display the product categories on the weather like for sunny days or winter wear for winter etc.Benefits of Personalization in Technology:-Collect and analyze data using AIMachine learning plays an important role in the gathering of all your marketing information into one place, it also keeps the data organized, standardized, and updated regularly.
Artificial Intelligence removes significant bits of knowledge to assist advertisers with settling on better choices.As we all know, achieving a marketing target is a little bit complicated but fortunately, AI helps in finding the data in a minute that would take any person at least a month before the AI.
It will analyze authentic post information, separating the post into numerous elements and distinguishing which elements were available in the most engaging post.Location tracking for Targeted Ad ExperienceAlmost 57% of people are alright with the applications that track their location.
Companies (mostly) exist to solve problems for customers.
The longevity and survival of a company is ultimately measured in terms of its ability to generate revenue and profits.
Over the years, the various titles, roles and functions that manage revenue generation in a company has changed from Vice President of Sales to Chief Revenue Officer and other variations.
Depending on the stage and type of organization the VP of Sales might be in charge of New Sales, Existing Customer Sales and sometimes Marketing.
You can still see the title Vice President of Sales and Marketing in “old school” companies or in smaller companies where a few people wear many hats.
For many reasons, most SaaS and software companies separate the roles and have a VP of Sales (who is in charge of Sales) and a VP of Marketing (who is in charge of advertising and marketing) and a third leader in charge of Customer Success / Upsells.
