It’s a new year, and it’s time for you to increase your business’ profitability. You know that to get those profits climbing you first have to take a long, hard look at your inventory stocking—but you haven’t yet figured out how to find the time to do that. Don’t worry, you’re not alone. According to our data, one-third of your business peers are actively prioritizing profitability increases for 2014, which includes identifying and eliminating costly overstocked inventory, but, like you, not all of them know how to do that best. The good news is that if you’re running Sage 500 ERP, you have access to Shop Floor Control, a module that allows you to easily view your shop floor operations and the status of every work order so that you can maximize your production and make your business operations more efficient. In order to help you meet your New Year’s goals, SWK Technologies is here to help you get your overstocked inventory under control using the Sage 500 ERP systems’ Shop Floor Control module.
Be in the know with an accurate inventory audit
Last year was the year you focused solely on growth and sales, we understand, but to maximize your business potential, you need to know exactly what you have on hand, every second of every day. To best audit your inventory, you’ll need to look at these critical performance areas:
1. Inventory Turnover: Look at the inventory you already have and see if you’re currently carrying too much inventory. Are you paying for unnecessary storage charges to house your overflow?
Shop Floor Control for Sage 500 ERP allows you to improve your inventory turnover performance and save money by providing you with real-time production reporting that’s driven by an accurate, up-to-date inventory processing system, usable with either handheld barcoding technology or manual touchscreen entry options for your employees. To fully automate your up-to-the minute production tracking, all of your bar codes can be printed on work order travelers and job tickets. If you have a multi-company or multi-site installation, Shop Floor Control lets you see the production activity at each facility. With fully customizable Shop Floor Control menus, you can view virtually any activity, maintenance function, report, or inquiry that you need to run your shop floor more efficiently, and all within a single glance.
Once you have access to your real-time, in-depth inventory data, you’ll be able to develop a realistic plan to deal with your excess inventory. Sometimes though, you’ll discover that excess inventory isn’t your company’s real problem.
2. Service Level: Look at your sales revenues and see if there are any areas in which you’ve been losing customers because the products they want are out-of-stock, or you weren’t able to provide them with accurate predictions of when those products would be available.
Shop Floor Control for Sage 500 ERP allows you to improve the level of service your company can provide to customers and increase your sales revenues by giving you an accurate, up-to-the minute view of all your shop floor processes. Your employees on the shop floor will be able to enter information in critical categories such as parts produced, scrap entry and reason codes, setup, downtime and downtime reason codes, outside processing quantities and costs, as well as production-related notes all from the Shop Floor console. This means that your customer service, sales, and management teams will all be able to see real-time shop floor activity, including the current quantities of quality-controlled products, as well as the estimated completion dates of everything else.
Contact our Sage 500 ERP Team
If you would like to learn more about how SWK Technologies can help you set up everything you need to get Shop Floor Control to process your inventory easily and efficiently or you’d like to learn more about how Sage 500 ERP can help your business, please contact us online.
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