IQMS Blog for Manufacturing ERP Expertise

Mexico's Economic Environment and its Impact on Manufacturing

Posted by Nicole Smith on Thu, Aug 27, 2015 @ 11:29 AM

Mexico is currently being hit by a one-two economic punch: a weak peso and historically low oil prices. Since January of 2015, the value of the Mexican peso against the United States dollar has dropped 25 percent. A weaker currency makes imports more expensive, but it is typically offset by the increased value of dollarized exports.

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Tags: manufacturing ERP software

Washington D.C. Week in Manufacturing – August 26, 2015

Posted by IQMS Manufacturing ERP Software on Wed, Aug 26, 2015 @ 08:36 AM

New York Manufacturing Activity Contracts at Steepest Rate Since 2009
The composite index of general business conditions from the New York Federal Reserve Bank declined sharply in August (from 3.9 in July to -14.9 in August), the lowest level since the Great Recession. From a more long-term standpoint, the Empire State Manufacturing Survey’s headline figure has bounced around a lot over the past five months, suggesting softness in the current economic environment due to reduced demand and shipments, but a cautiously upbeat outlook moving forward. To learn more, visit
here.

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Tags: Week in Manufacturing

Finding the ERP Solution that Satisfies Your Accounting Department

Posted by Nicole Smith on Thu, Aug 20, 2015 @ 08:17 AM

The creation of the modern ERP system began in the 1960s. Most manufacturing systems were developed to assist accounting departments, with general ledger and accounts payable/ receivable functionality at the core. Over time, the systems evolved to include MRP and inventory control because understanding where and how you spent your money allowed for better cost control. Eventually, more shop functionality was added until the ERP software evolved into the version we know today, with less emphasis on the original financial foundation.

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Tags: Financial Management

Washington D.C. Week in Manufacturing – August 19, 2015

Posted by IQMS Manufacturing ERP Software on Wed, Aug 19, 2015 @ 09:26 AM

15,000 Manufacturing Workers Added in July
At the fastest pace since January, manufacturers added 15,000 net new workers in July, according to the Bureau of Labor Statistics. This encouraging figure is closer to the monthly average of last year, when manufacturing activity was more robust. Overall, total manufacturing employment rose to 12.35 million and average weekly earnings increased from $1,018.65 in June to $1,025.23 in July. The Federal Reserve will likely look at this report favorably, and while it may acknowledge that hiring strength needs to be stronger (especially in the manufacturing sector), they likely could begin to raise short-term interest rates in September. To learn more, visit
here.

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Tags: Week in Manufacturing

Is This “Light Cocoon” Car the Future of Lightweighting?

Posted by IQMS Manufacturing ERP Software on Thu, Aug 13, 2015 @ 09:46 AM

Recently, IQMS had the opportunity to join a gathering of automotive industry leaders and engineers for a special vehicle unveiling. At the EDAG office in Troy, Michigan, EDAG global CEO, Jörg Ohlsen, presented his company’s newest lightweight concept vehicle: The Light Cocoon. 

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Tags: Automotive ERP

Video: A Success Story in Automating and Improving the Shop Floor

Posted by IQMS Manufacturing ERP Software on Thu, Aug 06, 2015 @ 09:03 AM

When it comes to the shop floor, medical and consumer products manufacturer, Tessy Plastics LLC, is continuously looking for ways to improve efficiency and accuracy through automation. By utilizing the features in its manufacturing-specific ERP software from IQMS, Tessy has created a paperless shop floor, installed electronic podiums at each work center to track production data in real time and implemented touch screen information centers across its plant for increased communication.

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Tags: Video

Washington D.C. Week in Manufacturing – August 5, 2015

Posted by IQMS Manufacturing ERP Software on Wed, Aug 05, 2015 @ 09:35 AM

U.S. Manufacturing Expands at Slower Pace than Expected in July
The Institute for Supply Management’s manufacturing purchasing managers index (PMI) fell from 53.5 in June to 52.7  in July. While a reading above 50 indicates that the manufacturing industry is generally expanding, this drop over the past month indicates tepid growth at best in the sector. The employment index also decreased in July, from 55.5 in June to 52.7. On a positive note, the new orders index increased to 56.5 last month, up slightly from 56 in June. To learn more, visit
here.

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Tags: Week in Manufacturing

Why Every Company Ultimately Outgrows its Homegrown Software System

Posted by Russell Clement on Thu, Jul 30, 2015 @ 08:41 AM

It is easy to understand how homegrown ERP software systems began. Companies evaluated off-the-shelf software and either didn't like the price or didn't find the business fit they were looking for. So instead of paying more than they felt comfortable with or changing business practices to fit the software, these companies set out on their own to build a homegrown system through internal employees, friends or local programmers.

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Tags: ERP Selection

Washington D.C. Week in Manufacturing – July 29, 2015

Posted by IQMS Manufacturing ERP Software on Wed, Jul 29, 2015 @ 08:29 AM

Kansas City Fed Reports Another Month of Declining Manufacturing Activity
The manufacturing activity composite index declined -7 in July, according to the Kansas City Federal Reserve Bank. July marks the fifth straight month of decline for that sector, albeit at a slower pace than in either May (-13) or June (-9). Several measures of activity were negative, including new orders (down from -3 to -6), production (up from -21 to -5), shipments (up from -15 to -2) and exports (down from -5 to -10). On a positive note, the index for expected new orders rose from 9 to 13, the highest level in three months, leading to predictions of growth moving forward. To learn more, visit
here.

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Tags: Week in Manufacturing

Why Should You Leave Quickbooks and Invest in Your First ERP?

Posted by John Lutz on Thu, Jul 23, 2015 @ 08:25 AM

Leaving behind the familiarity of QuickBooks and Excel spreadsheets might seem like taking off the training wheels of your business. However rudimentary, the two systems got the job done and for the most part, grew your company to where it is today. But there comes a time in every manufacturer's life when they realize that cobbled together spreadsheets, scheduling whiteboards and a QuickBooks program are not enough.

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Tags: Financial Management