ERP

Inventory Management Reports for Manufacturing SMEs

Inventory Management Reports for Manufacturing SMEs
Inventory Management Reports for Manufacturing SMEs What are the Inventory Management Reports? Inventory management reports enable manufacturing SMEs to have an accurate representation of the amount of raw material, components, and finished products, on hand, and decide when to order inventory, how to store inventory, and use inventory as efficiently as possible to run the production process smoothly. There are different types of inventory reports that manufacturing companies should focus on to improve their productivity & efficiency. We will provide more details of these reports in t...
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Strategies for Business Performance Improvement with ERP

Strategies for Business Performance Improvement with ERP
Strategies for Business Performance Improvement with ERP  When Performance is measured, performance improves! What is Business Performance Improvement? Business Performance improvement involves measuring the current level of performance in an organization and then modifying the processes to improve operational efficiency, cut costs efficiently, and increase revenues. Companies must focus on achieving improvement in the following areas: Inputs Required: E.g. Focus on reducing working capital, materials, reorder time, etc.  Throughput: Focus on Improving Process efficiency by reducin...
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How good is the information flow in your business?

How good is the information flow in your business?
How good is the information flow in your business? The new source of Power; is not money in the hands of a few, but, Information in the hands of many" - John Naisbitt  Every Business is Information Business. Information is vital for every business to succeed. How effectively every company captures information, analyzes information, and uses this information is vital to assess their current performance and make strategic plans for the future.  How good is the information flow in your organization? What is the information flow? Information flow is the exchange of information between people...
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Lean Inventory Management: How to implement Lean Inventory with ERP?

Lean Inventory Management: How to implement Lean Inventory with ERP?
Lean Inventory Management: How to implement Lean Inventory with ERP? Lean is a way of thinking. A systematic method to identify and eliminate waste from processes to provide maximum value to customers. What is Lean Inventory Management? Lean Inventory Management is a systematic method that focuses on eliminating any form of waste in Inventory and providing the right quantities of inventory, just-in-time, to ensure smooth flow of production and ultimately add value to the customer. Thus, Lean inventory management focuses on maintaining the bare minimum required inventory. What is the import...
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Digital Technology Adoption: Importance of Digital Technology Adoption for Manufacturing SMEs

Digital Technology Adoption: Importance of Digital Technology Adoption for Manufacturing SMEs
Importance of Digital Technology Adoption for Manufacturing SMEs You’ve Got to start with the Customer Experience and work backward towards the Technology. Not the other way around! - Steve Jobs The increasing importance of Digital Technology adoption in the manufacturing industry.  Technology is evolving fast, ringing in new & better ways of doing business for exceeding customers' expectations & providing them a superior customer experience. Technology and the Manufacturing industry are practically interwoven and it is practically impossible to imagine one without the other. Man...
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Working Capital Mistakes Every Manufacturing SME should avoid !!

Working Capital Mistakes Every Manufacturing SME should avoid !!
Working Capital Mistakes Every Manufacturing SME should avoid !! "Working Capital is the Lifeline of every Manufacturing business!" What does your company's financial health look like on the Working Capital Barometer? Is it adequate, healthy or are you struggling with it? Do you have enough funds to manage daily and operating expenses? Now, let us run a quick reality check. Have you observed any of the following trends or patterns in your company? Plant Managers purchase excess materials to be on the safer side and avoid stock-outs A high amount of scrap is generated re...
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How manufacturing companies can become ready for the “New Normal”?

How manufacturing companies can become ready for the “New Normal”?
How manufacturing companies can become ready for the "New Normal"? The Coronavirus pandemic & the resultant Lockdown is a global crisis that has hit almost every country in the world, hard. Undoubtedly these are devastating times, tough times, trying times! But, when you cannot control, what is happening, you have to challenge yourself to control the way you respond. That’s where your Power Is! Manufacturing companies whose productions are stalled are gearing up to adopt new technologies & digitalization and craft strategies to survive the crisis and spring back to the "New Normal" as...
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Role of Material Management in Improving Productivity & Profitability

Role of Material Management in Improving Productivity & Profitability
Role of Material Management in Improving Productivity & Profitability One perpetual problem faced by manufacturing companies is the rising costs of materials and services. How to ensure continuous production while keeping stringent control on production costs is a concern for a lot of manufacturing SMEs. Hence, this article aims to emphasize the role of material management in improving productivity & profitability of manufacturing companies  What is Material Management? Material management is a function responsible for appropriate planning, organizing, and controlling of activities ...
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ERP Selection : ERP Selection Steps, Criteria, Comparison, Evaluation

ERP Selection :  ERP Selection Steps, Criteria, Comparison, Evaluation
ERP Selection:  ERP Selection Steps, Criteria, Comparison, Evaluation Usually, when companies choose to scale & grow their business, it becomes crucial to work smarter, increase efficiency across functions and ensure optimum utilization of resources. To accomplish this, companies must have complete visibility of their business processes! Most companies decide to implement an ERP Software, at this crucial stage, to run all processes from a single solution! ERP selection is a significant step in the process of ERP Implementation. With so many ERP software providers available, how to sele...
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Lockdown: How to make the best use of the Lockdown?

Lockdown: How to make the best use of the Lockdown?
Lockdown: How to make the best use of the Lockdown? Lockdown! Who would have imagined a few weeks ago, that the whole world would come to a standstill!  Coronavirus has practically brought the whole world down on its knees. Nations Big & Small, Developed & Developing are dealing with this disruption through stringent measures. India has been forced to implement Lockdown as the only; effective although a very stringent measure; to contain the virus from spreading like wildfire! No doubt, this is a very Tough Time!! Business World is also hit hard, Production is stalled, Supply Chain...
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