Best ERP System for Aerospace Industry in 2023

ERP system for the aerospace industry is high-end software that offers deep integration with research, design, engineering, quality control, workflow management, cost budgeting and planning, compliance, and other processes in a controlled environment in the aerospace industry.

The purpose of using such a system is to improve efficiency, increase compliance, and avoid costly penalties. It brings visibility across all business operations, so decision-makers can make informed decisions.

Overview of the Aerospace Industry

India’s Aerospace industry is expected to reach $70 Billion by 2030, according to the projections made at the Aerospace and Defense Summit 2022. There are about 1,000 aerospace companies operating throughout India. These companies collectively employ a population of about 2 Million people.

India has come a long way from being a defense importer to becoming a defense manufacturer and exporter. In 2022, India exported a Made-in-India Brahmos supersonic cruise missile to the Philippines for $375 Million. Moreover, India is also developing several indigenous aerospace capabilities, such as Tejas.

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Challenges Faced by the Aerospace Industry

• Technological Upgradation

Keeping pace with the latest technological changes can be a challenging task for the aerospace industry. The fostering of innovation in the field of aerospace may require substantial investment in research and development.

• Complex Rules and Regulations

The rules and regulations surrounding the aerospace industry are complex in nature. Manufacturers have to strictly adhere to export regulations and keep an eye on changing relations with other countries. There are different regulations governing different aspects of the aerospace industry in India, such as production, import, and export of aircraft, and testing and safety standards.

• Financial Investment

Aerospace manufacturers need a substantial financial investment due to their business nature.? The high cost of manufacturing, the high cost of research and development, and the long development cycle are some of the factors that affect product pricing.

Features of Using ERP Systems for Aerospace Industry

• Data Scalability

#Aerospace ERP systems are complex by nature. They can handle very large amounts of data and store it in a structured manner. Data scalability is the ability of the ERP to handle increasing amounts of data without causing sluggishness or performance issues. There are two types of data scalability: horizontal and vertical scaling. The former is more complex and expensive to set up, whereas the latter is relatively cost-efficient.

• Data Analysis and Reporting

An ERP solution collects data from all business departments, stores it in a central repository, and empowers businesses with a range of analytical and reporting tools to find anomalies in the data. Businesses can compare current data with historical data, understand consumer behavior, identify market trends and patterns, make pricing decisions, and get a comprehensive state of their business operations using powerful analytical tools.

• Consistency in Business Operations

Business Management Software provides real-time access to crucial business data in the aerospace and defense industries. This ensures that everyone is working on the same version of the dataset and that there is consistency throughout the core business operations. The more consistent the data, the more accurate the forecasting and reporting will be.

• Streamline and Automation

Aerospace ERP software streamlines various aspects of the business, such as tracking, managing, and re-ordering inventory, tracking employee time, performing assessments, generating reports, and so on. Automating regular business operations frees defense and aerospace employees from repetitive data entry tasks, and they can utilize the time for productive tasks.

• Data Traceability

Aerospace and defense companies that keep records by hand and then convert them into Excel spreadsheets face numerous challenges, such as human errors, obsolete data, missing data, and data conversion problems. ERP modules maintain massive amounts of data in a centralized database, which helps track the history of data throughout its lifecycle, from its source to its destination. It becomes easier to know the data’s origin and understand how changes were made to the data.

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