Project Industries Need Specialized ERP Solutions: IFS Applications
In project-based industries, managing resources and tracking activities can be a complex task. These industries require a different approach to enterprise resource planning (ERP), material planning, inventory management, manufacturing planning, and accounting and finance. The main reason is the need for additional dimensions like project ID, sub-project ID (which might be multi-level), and project activities. All of these dimensions should be managed and tracked as if each of them were separate entities or companies. This is where IFS Applications comes in, offering deep functionality to project-based industries.
The ETO (Engineer To Order) solution offered by IFS Applications is designed to provide project-based manufacturing companies with a flow that starts from the idea to the design and R&D activities, from planning to inventory, manufacturing, and procurement until the financial project-specific solutions. The solution enables companies to combine Work Breakdown Structures (WBS) with Cost Breakdown Structures (CBS). A powerful project management tool is included in the solution, which enables the full project to be visually managed on a Gantt chart.
One of the key strengths of IFS Applications is its native integration with other modules. This means that the solution is directly connected with inventory, manufacturing, procurement, HR, and finance. A planning engineer or project manager does not have to apply progress to the plan manually, as it can be triggered automatically from other modules. This integration ensures that data is consistent across all modules, and that each department has access to the same information. This eliminates the need for manual data entry and reduces the potential for errors.
The solution also offers project-based budgeting, project-based costing, project-based KPIs, project-based accounting, and finance. This means that all financial data is tied to the project, making it easier to track and analyze the financial health of each project. The solution is also flexible, allowing companies to configure it to suit their specific needs.
In summary, project-based industries require specialized ERP solutions to manage their resources and track their activities. IFS Applications offers a comprehensive solution that includes deep functionality, native integration with other modules, and project-specific features. The solution can help companies improve their efficiency, reduce errors, and gain better visibility into their financial performance.
ABOUT THE AUTHOR
With over 20 years of professional expertise in the IT software industry, including an impressive 19-year tenure in a managerial position at IFS Turkey, Göksel Sanbay brings a wealth of experience to the table. Throughout his career, he has successfully managed dozens of hands-on ERP, EAM, and ESM projects, leaving a trail of satisfied clients and successful implementations.
Notably, he has also excelled as a solution architect, leaving his mark on various reference IFS projects. His passion for innovation and driving efficiency has led him to embark on a new journey. In July 2022, he founded GUMA Business Solutions, a dynamic consulting company exclusively dedicated to crafting cutting-edge business software solutions, with a specialization in IFS Applications.
At GUMA, we thrive on challenges and aspire to take businesses to new heights through tailor-made software solutions that streamline operations, boost productivity, and empower growth