IFS 10 applications are an ERP (Enterprise Resource Planning) system that stands for Industrial Financial Systems. An IFS application aims at extending the tools and features of an ERP, which includes the following:
- CRM – Customer Relationship Management
- SCM – Supply Chain Management
- PLM – Product Lifecycle Management
- BI – Business Intelligence
- CPM – Corporate Performance Management
IFS has gained popularity in the fast few months, especially in the field where the supply chain processes are useful. It can be used in industries where oil, gas, aerospace, or construction goods are being manufactured.
There are various ways through which the IFS 10 application can streamline the supply chain processes. Some of them are listed below:
- Helps in Product Estimate Management
The IFS application can help collaborate with the engineer to order or configure in order to feature. The product estimate management feature can help industries to determine the cost it will take to supply a product and add any additional costs to the product in order to come up with the final price that the consumer has to pay. It established a smooth process of harmonizing the price estimation process.
- Warehouse Management
IFS 10 can help industries improve warehouse management. It assists in the process of handling units that ensure smooth flexibility and traceability of the products. The handling unit ID can help businesses improve the speed of their work by making it more accurate.
- Quality Control
Quality control is an essential component of the supply chain process. Consumers tend to go for products that offer consistent quality rather than for the ones that keep on fluctuating. The quality management feature offers companies to make sure that a balanced product is delivered to every customer in the market.
- Product Manufacturing
The entire process of product manufacturing has become quite simple due to the introduction of IFS technology. Product traceability has become more comfortable as industries can carry out forward and backward traceability of products that are available at the site. Manufacturers can keep track of the shell-life of the products, which means that they can get an idea when the manufactured goods expire.
Furthermore, it also helps consumers to give feedback that can be used to improve the overall product to make sure that it is in line with what the customers want. The new features help industries manage the leftovers of the products and reject the batches that cannot be dispatched to the target market.
The products manufactured and its data can be categorized and organized in a useful manner.
- User Experience
The consumers can share their experience with the manufacturers, which can help them improve their quality and quantity of the product. The positive feedback can be used to generate and attract more customers. It can also help them market their products more effectively.
IFS application is here to revolutionize further the way businesses are being dealt with. It is going to improve the productivity and efficiency of every industry.
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