The supply chain crisis is far from over and US manufacturers are taking various steps to confront this issue. The old methods of confronting delays in the supply chain, such as moving production offshore as sources of less-expensive labor, are no longer viable. Companies making high-end products with a substantial profit margin are finding their manufacturing efficiency has dropped. These companies are considering moving their production to its original location. However, reshoring is a decision that can’t be made lightly.
Business Automation and Software Blog
Topics: manufacturing efficiency
The manufacturing industry has changed and is relying on data and analytics from a manufacturing ERP system more than ever to support its business endeavors. Data is required to provide visibility over the company’s operations. Managers use these data and analytics to make better decisions for the company. The delivery system that collects the data and stores it must be reliable; the data must be timely and accurate. The manager must be able to access it in a format that is understandable.
Topics: manufacturing ERP
When a business is in startup phase, it likely only needs some basic business accounting software to meet its needs. As it grows, hires team members, and moves into a larger space, its accounting needs will grow too. At that point, the business will be dealing with a bigger payroll, more inventory, and a larger volume of invoices. Its taxes will become more complicated, too. The company management will need detailed reports to plan the annual budget. Once the company outgrows its startup status, it also outgrows its basic accounting software.
Topics: business accounting software
Effective inventory management is crucial to modern business because it provides a cushion to balance the uncertainties between supply and demand. It can be viewed in a positive manner; however, holding onto excess inventory can lead to problems. The physical space taken up by stock always comes at a price: inventory held in the warehouse ties up company cash and working capital which could potentially be used for other purposes. Lower inventory costs result in a higher return on assets. If business owners know that holding inventory costs money and negatively impacts the company cash flow, why not simply slash it to the bone? It’s a balancing act, to be sure, and inventory control software can help your company determine how much inventory to keep on hand at any one time.
A business is built on its relationships with its customers. Without a steady stream of them, a company won’t be able to survive for long. Customer relationship software, or CRM, is designed to help you manage your customer relationships, including business reporting and analysis.
Topics: CRM for SYSPRO, CRM Software Selection
Business reporting is an essential part of your operation. You need clear numbers to tell the story of how the company is faring. Financial software takes the data collected from your ERP to give you clear and powerful stories that all stakeholders can understand.
Topics: Business Reporting, SYSPRO software
If you are running a manufacturing business, you already know you are involved in a complex industry with multiple moving parts. Producing products is only part of the story. Before long, you are dealing with financing, scheduling, inventory, supply chain issues, payroll, sales, marketing, and much more. It’s easy to become overwhelmed with the many hats you need to wear to keep the business running—and the stress that goes along with it. When you start feeling overwhelmed, hiring a manufacturing software consultant makes sense.
Many businesses seek a solution that will allow them to run their financial, operational management, customer relations management, human resources, payroll, and project management under a single software option. PositiveVision has been pleased to work with customers who have expressed these needs to deploy and train their team members on Sage 300 software.
Topics: Sage 300 2022
On its own, raw data doesn’t tell you very much. After all, it’s just quantities and numbers stored on a computer. It needs to be analyzed and put into context before it can be useful. At that point, data is transformed into information. When placed into business intelligence reports, your management team can interpret the information and use it as the basis for sound decision making. To bridge the gap between data and information, your business needs a quality enterprise resource planning system (ERP).
Topics: business intelligence reports
Have you ever heard the saying that necessity is the mother of invention? If that’s true, then innovation is closely related to it. The global pandemic has resulted in multiple challenges (and opportunities) for manufacturers and distributors. Manufacturing innovation is the price of staying competitive now and going forward.
Topics: manufacturing innovation