Enterprise Resource Planning is not a new concept. EPR has been an important part of multiple industries for many years. The basic idea of ERP is facilitating industries’ ability to take the necessary exploratory steps to ensure the firm’s decisions are considering the impact on the supply chain, accounting, marketing, and other vital areas of the business.
ERPs are commercial packages of software and management that integrate all of a company’s information seamlessly. By combining the marketing, accounting, production, customer, supply chain, and human resources data, businesses are able to more effectively make strategic direction decisions. When all of this information is put into a central database via the ERP, business decisions become exponentially easier because all of the information is readily available in a form that is easy to tabulate and understand.
How ERP Benefits Gold Brokers
Many manufacturing companies can benefit from ERP, but one industry where this is particularly useful is the mining industry, specifically the gold industry. ERP for gold brokers can make all the difference when it comes to strategic decision making and when important decisions come up, ERP gives clear insight into the right move.
Gold mining requires large capital investments for everything from machinery to large refining plants. This means that making business decisions results in significant cost to the company. Because of the large cost, informed decision making is vitally important for gold mining. This is where ERP can help. With ERP, gold brokers can ensure that both the mines and the refining plants are running in the most efficient way with the highest amount of quality production possible.
For gold mining, ERP guides decisions on how to keep the heavy mining equipment running at top capacity, how to ensure supply chains are efficient and uninterrupted, how to make the refining process efficient and produce top quality gold, and more.
Special Considerations for Gold ERP Helps Address
Gold mining is different from many mining processes due to the nature of the raw material. When mining for gold, the ore is largely unpredictable until it is extracted from the mine, evaluated, and processed.
A variety of factors influence the ore’s quality. From mineralogy and metallurgical grade to chemical grades and granularity, the ore varies from place to place. While ERP cannot help control the quality of the ore, it can make the transportation, production, and refining process much more efficient thus making the business run more smoothly even with variables like ore quality.
Specific Areas of Gold Mining ERP Can Streamline
ERP can improve and streamline business for gold brokers in a variety of concrete ways. First, ERP can make the actual mining process run smoother. By gathering the data about mining personnel procurement, inventory considerations, maintenance of machines, and production, EPR makes strategic mining decisions easier. Having all of the data in one place, means less time hunting for information and more time making positive business moves.
Secondly, with ERP business executives can ensure that the refining process is as efficient as possible. By considering everything from supply chain routes to the efficiency of the current refining machines, ERP can get the refining aspect of gold mining up to the most cost effective and efficient method.
Lastly, ERP makes complicated decisions easier. Making decisions without all of the information is one of the most common causes of downfall for a business. With the new integration of business intelligence information, EPR has expanded its usefulness by looking beyond distribution, supply chain, and manufacturing. All of these touchpoints influence how business is done and need to be considered when making choices for business direction. ERP ensures that gold brokers have all of the information they need to make the most strategic business decisions.
What is Enterprise Resource Planning’s Business Value?
ERP can make all the difference in a business. By making employees more efficient, checking if supply lines are secure, as well as interconnecting accounting information with marketing and manufacturing efforts, businesses run smoother with ERP in place. ERP benefits gold brokers by giving them real time global data allowing them to proactively make decisions.
ERP can improve every area of the business from financial compliance and regulatory standards to production quality and speed. With all of these benefits, ERP is a clear choice for decisive gold brokers.