The protective coatings industry, whose predominant application is in the heavy machinery, marine, automotive, aerospace, oil & gas as well as consumer products industry as a coat to ensure protection from external environment, is slated to grow at a CAGR of around eight to ten percent till 2022. Protective coatings, generally classified by their basic resin types such as epoxy, alkyd, acrylic, or polyurethane and segmented as resin type, product and end-use, is currently valued at around USD 18 billion (on an average, according to different industry research reports). However, despite the future looking good, the fact remains that it is also one of the most complex industries to operate in.
Stringent environmental regulations by the government, growing awareness about the harmful effects of Volatile Organic Compounds (VOCs) and shifting focus towards eco-friendly coatings, supply-chain management, rising cost of energy and raw materials, changing technology as per industry demands, constant need for innovation and introduction of new products, threat from the competition, accurate demand forecasting so as to ensure effective physical distribution etc., are some of the challenges industry operators face. These challenges make it important for the operators to identify key drivers for re-engineering.
The most essential of them all is adopting a tailor-made ERP, which can help them streamline their processes by getting rid of all the complexities. Such an integrated ERP can help the companies manage the formulas, meet the safety and regulatory criteria, ensure quality, plan demand forecasting, keep the costs under check, analyze the properties of products they develop and manufacture et al.
BatchMaster ERP for Protective Coatings is one such ERP software which comes loaded with all such features. It empowers the protective coatings operators to come up with innovative products through optimum use of its R&D module that offers high degree of flexibility and scalability of substituting greener, newer products to their formulations. Besides, it also allows them tighter control over inventory through bi-directional lot traceability and speedy recalls. A steep rise in margins and profitability is achieved through instant identification of losses and with proper tracking plus disposal of wastage. On the compliance front, generation of Safety Data Sheets and safety labels in line with Globally Harmonized Systems (GHS), apart from enabling the Hazardous Materials (HAZMAT), Bills of Landing, and Superfund Amendments Re-authorization Act (SARA) reporting etc., keep audit chaos and hefty fines at bay.