ILVS, IPL, ALC ... A major automotive supplier to Ford, Honda, BMW or Toyota may recognize these acronyms and may frown when reading them. These three and four letter acronyms are often followed by choice four letter words when things go wrong.
IQMS Blog for Manufacturing ERP Expertise
You may feel that it is time to make use of your ERP software's automation to quicken the pace of closing out your books at month-end and to maintain your perpetual inventory value. Regardless of whether you pursue standard or actual costing in your manufacturing plant, there is no doubt that implementing costing is critical to understanding where your money is being made and lost on the shop floor.
When a software provider such as IQMS talks about integration, we are typically referring to the seamless flow of information from function to function (module to module, department to department, etc.) as it relates to data, the database and the application, as well as access to that data. From the database to the plant floor to personal and professional relationships, integration of information is the most efficient way to get things done at the workplace.
Manufacturing is an ever-changing endeavor. The days of a manufacturer specializing in only one type of process (for example, machining, injection molding or stamping) have evolved into more solutions-based enterprises. IQMS customers are no exception. Despite the recent economic recession, our customers have seen growth in multiple directions as their product offerings and process expertise expands. Clearly, IQMS customers are not afraid of innovation.
At the end of the day, as the truck carrying your freshly manufactured goods pulls away from the dock, you wonder what sort of profit your hard work and quality products delivered. Unfortunately, the costs of running a manufacturing business are not completely straightforward. When you factor in material expenses, overheard such as rent and utilities and employee wages, how do you determine whether you are losing money or making money on each product that you manufacture?