Understanding Material Requirements Planning – Part Three
In this part three series of better understanding MRP, we are going to focus on future trends. MRP continues to evolve alongside available technology, offering a range of benefits to manufacturing companies. According to Epicor, the future of MRP will likely involve five major shifts.
- Continued integration with Internet of Things (IoT): An application of IoT within MRP include real-time sensors installed on your mechanical equipment to monitor and adjust production. This also serves to prevent energy outages and predict when your machines may need to be replaced (although usage of IoT devices should extend the life of your machinery). We will continue to see the number of devices connected to applications increase as time goes on. IoT changes the way we can do business for the better and it is not going anywhere, anytime soon.
- Increased use of artificial intelligence (AI) and machine learning: When you add machine learning to AI-driven MRP software, your production efficiencies are improved. MRP systems can learn from past mistakes and use this data to make better predictions about future events, like increased demand, energy outages, or downtimes for machine maintenance.
- Increase in cloud-based MRP: Cloud-based MRP software can offer many benefits you can’t achieve with on-premises including scalability, cost-effectiveness, flexibility, and ease of updates and integrations with other cloud-based applications.
- Increase in mobile applications: Key to communication and collaboration. Mobile applications provide continuous, real-time production data. This is invaluable to those who are continually monitoring and adjusting performance output. Mobile applications easily collect floor data, facilitating remote management.
- More modern data analytics and visualizations: Improved data analytics and visualization will help you gain a clear, easy picture of what’s happening in production and the ability to quickly spot anomalies.
MRP systems are a key tool for manufacturers to utilize to be successful given all the benefits they offer. Those that commit to the process, and apply the insights gained will be positioned to experience the next era of MRP as well as its advantages. Do not forge the key to any successful technology adoption is training employees and keeping them trained.
Did you read the other 2 blog articles in this series? If not take a few minutes to read them now!