What is Standard Cost? Is your manufacturing operation using Standard Cost or Actual Cost to value production costs? Are you wondering what the benefits would be if you switched to a Standard Cost valuation of the production of your products? In this blog post, I’ve listed the advantages and disadvantages of using Standard Cost to…

As an ERP and business consultant, I am often asked about the value of and need for inventory traceability. Inventory traceability is the ability to trace products and materials through the supply chain. For manufacturers, this feature is of particular concern. Manufacturers need the ability to trace the components and materials used in their finish…

Inventory Accuracy is the relationship of physical inventory compared to stated inventory.  To put in the simplest terms: “Do I actually have what my systems tell me I have?”  Inventory accuracy can be managed using spreadsheets or in any system with a method of tracking and monitoring inventory levels.    Inventory accuracy is crucial in any industry and affects the day to day operations of the…

In today’s business world, companies are driven by the need to make quick, well-informed decisions.  All levels of the organization rely on high quality, readily available data. A good ERP system can provide the data needed to make those decisions and optimize operations, sales, and supply chain functions and maximize efficiency, growth, and profitability.  The selection of an ERP system is a substantial and…

It’s safe to say that ERP projects don’t always go as planned. Whether it’s scope creep, changing business requirements, or lack of buy-in, specific actions are needed when a project gets off track.  Most issues with ERP projects are not caused by the software’s functionality. So, where do you start?   The Five W’s; Who,…

Today, ERP systems integrate all manufacturing and business processes, from production and inventory management to accounting and finance. When properly implemented, an ERP system can encompass every facet of the organization. This gives management the ability to see what is happening in “real time” across the entire organization.    Management can leverage information from virtually every department to make more informed decisions. The ERP System provides seamless integration across…

A new ERP  solution  can be the inspiration for sustainable improvements and long term success. Many organizations are considering new ERP solutions to transform their inefficient business processes, improve operations, scale for growth, meet customer requirements and save or reallocate funds. Today, your organization may suffer from a lack of access to data. ERP solutions integrate back office processes with…

The manufacturing world is transforming and your business is too! It’s important to stay ahead of the technology curve to meet your company’s needs and goals for the future by aligning your business and ERP strategies. PowerPlex, the annual Plex Manufacturing Cloud User Conference, brings together more than 1000 manufacturing professionals to learn how these…

When you hear the term “ERP systems,” production, inventory and quality may come to mind. Few of us would consider financial records or variances because we don’t tend to make the connection between an ERP system and the benefits offered to the company’s financial management system. While an ERP system helps improve departmental productivity and…

Having led numerous deployment projects as an ERP consultant, I work with organizations to optimize the use of their software and make their business processes more efficient. I’m constantly shocked by the lack of importance placed upon the procurement function within many of these organizations. In my multitude of discussions with purchasing department employees, I…

Do you feel you get the job done, but your processes are not without some aches and pains? Does your organization struggle with a lack of control with new part introductions? Have you been wanting, just not sure where to start, to implement robust cycle counting of inventory? Maybe it takes far to long for…

Do you feel as though the production floor is your worst enemy in the mission for inventory accuracy? This leading cause of frustration and stress around inventory management often comes from a lack of investment and standards on production floors. Inaccurate inventory impacts the ability to deliver customers their parts, borrow money for capital and…