As a batch process manufacturer, the backbone of your operation is your inventory. With raw materials coming in from many different sources, being consumed and stored throughout your facility, and fulfilling your sales orders with finished goods, it’s clear to see that your company’s capital can easily be tied up in inventory. On a daily basis we speak with process manufacturers facing the same issues due to inaccurate inventory levels. This is why an investment in inventory control becomes vital for sustainability of your company.
Outgrowing Paper and Pen
Many growing companies try to manually manage their inventory. This includes walkthroughs of the warehouse with clipboards and sticky notes, and then manually keying the information into spreadsheets. This process consumes countless hours each week, and compiles monthly and yearly, which is far from ideal for a growing company to sustain. It also leads to incorrect data due to the outdated nature of the information and data entry errors. Not only are time and resources lost, but it is tedious to keep track of expiring products and often results in flushing valuable dollars down the drain.
Using a paper trail and manual spreadsheets makes lot tracking very difficult and detrimental in the event of a product recall. When dealing with the regulatory and compliance governing agencies of your specific industry, you may be faced with a product recall situation. During a recall, time is of the essence and you must be able to show proof that a specific lot and/or raw materials are quarantined within the proper amount of time. This task becomes a major catastrophe for manufacturers trying to track clipboards and spreadsheets of information. It’s imperative that batch process manufacturers have a way to hold themselves accountable in case the worst happens.
Reporting That Matters
If asked for a report of inventory levels or the valuation of a certain item and all you can provide is a month old spreadsheet, the report is worthless in today’s quick paced business world. Questions are left unanswered and business decisions put on hold until inventory levels can be calculated again, thus leaving your business at the helm of your outdated tracking methods. Sound reporting functionality is in your best interest, guaranteeing your staff can easily interpret data and act accordingly to the information.
Accurate inventory control and reporting is at your fingertips with an ERP software solution, allowing for you to automatically track inventory balances, serial numbers, lots, and product line information in real-time. An ERP software solution will help optimize efficiency and productivity at all levels of inventory operations, ensuring that you can account for every inventory unit through your entire manufacturing process, as well as track expenses and profits, and report on the information instantaneously. You can also set up ordering guidelines, including your minimum order quantities and safety stock levels to ensure your manufacturing doesn’t come to a screeching halt.
ProcessPro develops, designs, installs, and supports our ERP software solution for process manufacturers. With our experience and insight––gained over 30 years in the ERP software industry––we can evaluate your operation for the inventory control methods signaling the need for an ERP software solution.
Contact us today. A member of our business development team would be happy to speak with you and assess your inventory control needs.