NORTHERN TECHNOLOGIES INTERNATIONAL CORP
For the period ended May 31, 2024. Filed Jul 11, 2024.
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May 31, 2024 · Filed Jul 11, 2024
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Item 1A. Risk Factors
Although Item 1A. is inapplicable to NTIC as a smaller reporting company, NTIC hereby discloses the following new risk factor:
The installation of a new Enterprise Resource Planning (ERP) software system and related equipment could cause disruption to NTIC’s business, and NTIC may not be able to effectively realize the benefits of this new system.
NTIC is installing a new Enterprise Resource Planning (ERP) software system and related equipment in order to support its future growth and more fully optimize its existing processes. The implementation of a new ERP software system may prove to be more difficult, costly or time-consuming than expected, and it is possible that the system will not yield the anticipated benefits. Any disruptions, delays or deficiencies related to the new ERP software system could materially impact NTIC’s operations and its ability to manage inventory, fulfill obligations to customers or otherwise operate its business. In addition, implementation of a new ERP system will require significant resources, including the time and attention of NTIC’s management, in order to fully realize the anticipated benefits.
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