Manufacturing for the aerospace and defense industry are growing, but with it so are demands for better quality and compliance. The sector is facing increasing regulations from governmental authorities, and consumers are expecting more from their manufacturers. In expecting to do more with less, aerospace and defense manufacturers are turning to different technologies to simplify their work and increase productivity. One of those technologies is aerospace and defense ERP.
Manufacturers in the aerospace and defense industry can’t just buy the first ERP system that pops up in their search. With so many expectations between compliance, lean manufacturing and data, it’s important to find an ERP system that can handle all those industry specific needs. These are the top four functionalities to look for in an aerospace and defense ERP system.
- Regulatory Compliance
There are a lot of strict guidelines facing the aerospace and defense industry, from International Financial Reporting Standards to ISO/AS9100 and Sarbanes-Oxley. The aerospace and defense ERP that you choose should have the power to automate the compliance process and generate an audit trail. The system should have lot tracking for the recording of every stage of production, including design, sourcing and delivery.
- Analysis and Reporting
As stated before, with all the strict guidelines in the industry means that your aerospace and defense ERP should have powerful reporting and data tracking. You need to be able to track data throughout the project, rather than discovering something is off after it is completed. The ERP system you choose should have real-time insights for project analysis and revenue. Some other important analysis dashboards that should be available in aerospace and defense ERP include business intelligence, alerts, graphical analysis, inquiries and business monitoring.
- Lean Manufacturing
Implementing lean strategies in aerospace and defense manufacturing isn’t just a smart business decision for the bottom line, but it has a great impact on customer satisfaction. Aerospace and defense ERP should help you to minimize waste and streamline the process. The system should be able to recognize when supply levels are low or order demand is high and automate the replenishment of stock.
- Global Capabilities
For most aerospace and defense manufacturers, you’re not selling to the client down the street. Sometimes your reach can be global, and maybe you even find yourself with a site overseas. Aerospace and Defense ERP should be able to support your global needs with multi-currency, multi-plant and multi-company capabilities. Further, your ERP should be available in multiple languages so you can continue your work no matter where you are or where your growth takes you.
There are a lot of functions necessary in aerospace and defense ERP that are also unique to the industry. Choosing the right ERP for your business can heavily impact how well you do, especially when it comes to having the capability to automate regulatory compliance or reporting. While you’re on the search for an aerospace and defense ERP make sure to keep these four functions on your mind.