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Friday, July 30, 2021

How SAP PS can help your Business

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In business and manufacturing, any type of project is bound to come with a host of problems. You have to manage forecasts, materials, inventory, sales, accounting and human resources. If you have a small team, all of this can be quite overwhelming. Even with an experienced group, there’s still a pretty good chance that something will go wrong.

Luckily, with SAP ERP (enterprise resource planning) software, you will be able to manage all of those things with ease. The SAP PS (project systems) is an SAP ERP module that helps you monitor and manage all aspects of an enterprise. It’s suitable for both small and large scale projects.

Still not convinced? Here are five things SAP PS can help you with.

  1. Production Planning

One of the best parts of the SAP PS is its ability to help you with long-term planning. The SAP PP (Production Planning) sub-module allows businesses to estimate revenue and thus plan for purchasing and production. The module does this in a few ways.

First, it creates and analyses different scenarios that might occur throughout the production process. It takes into account contingencies, cost escalations and risks.

The module provides information about material availability, helping businesses purchase the appropriate amount of stock for production. It also ensures that the quantity of finished products matches consumer demand.

SAP reporting automatically occurs in real-time. This means that all aspects of your business will be aware of stock levels at all times, reducing the risk of overstock or shortages.

With SAP PS, businesses will be able to plan ahead and adapt to any issues that may arise. More importantly, it will allow them to budget properly, reduce wastage and avoid overproduction.

  1. Sales and Distribution

Production planning is all well and good, but you also have to get the product to the consumers. With the SAP SD (Sales and Distribution) sub-module, you will be able to manage all the logistics involved in fulfilling orders.

SAP SD helps businesses keep track of which products are available in the warehouses. This allows online stores to be up-to-date with its stock information and ensures that there aren’t any shortages. Since the data is being updated in real-time, businesses will be able to avoid double-ups when it comes to stock requests.

If you need help with generating bills, SAP SD can also create invoices for every sale that you make. This can be for both products and services.

  1. Accounting

When it comes to money, everyone wants to handle the big picture stuff. However, if you want to run a successful business, you have to find a way to handle the day-to-day transactions.

SAP PS has a FI (Financial Accounting) and a CO (Controlling) sub-modules. The FI module can keep track of all business transactions, banks transactions and company assets. Essentially, it handles the company’s financial activity and creates external reports.

On the other hand, the CO sub-module keeps track of costs. This includes product costs, service costs as well as the company’s overall profits and losses. Analysis of product costs allows a business to set an appropriate price for their products and/or services. Meanwhile, the internal reports of profits and losses provides crucial information that can help the business make major financial decisions.

  1. Human Resources

Human capital management is important if you want your business to succeed and your employees to be happy. Fortunately, SAP PS can help you with various aspects of human resources.

SAP PS has an OM (Organisational Management) sub-module that can help you track leave, attendance and hours. There are a couple of ways that you can implement this sub-module. First, there’s ESS (Employee Self-Service), which allows employees to report relevant data themselves. This means they will have to apply for leave, report working hours and track benefits through an employee-operated application. On the other hand there’s the MSS (Manager Self-Service). Through this, team leaders or department heads will be able to enter employee data on their behalf.

The module can also assist businesses with processing pay, managing business trips, recruitment and maintaining employee information.

  1. Material Management

Without proper planning, a lot of money can be wasted on the purchase of unnecessary materials. The SAP MM (Material Management) sub-module keeps track of your inventory in real-time and regularly records all activity and transactions involving raw materials. This allows businesses to manage all resources along the supply chain.

SAP MM can be integrated with the SAP PP module as well as barcode systems in physical stores.

As you can see, SAP PS comes with a lot of conveniences. All of these sub-modules can also be integrated with each other. This streamlines a business’ workflow and thus improves productivity across the board.

SAP PS compiles all the data into one accessible place, allows information to be relayed in real time and creates accurate forecasts of demand and revenue. With an easy-to-use management tool like this, you can take your mind off of day-to-day matters and focus on growing your business.

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