IQMS Blog for Manufacturing ERP Expertise

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.

Housing Starts and Permits Rise Sharply in June
Thanks to strong multi-family gains, both new housing starts and permits rose sharply in June, according to the Census Bureau and the U.S. Department of Housing and Urban Development. With an increase from 1,069,000 units in May to 1,174,000 in June, the data is stronger than the consensus estimate of roughly 1.1 million starts for the month and an encouraging sign that the market has gained some momentum. House permits were also up significantly in June, from 1,250,000 in May to 1,343,000, foreshadowing healthy gains in the months ahead. To learn more, visit here.

An independently owned manufacturer since 1929, Riverside Refractories supplies heat resistant refractory products to the American steel industry. Every time you drive a car or turn on an appliance, you are using a product that was made with the help of Riverside Refractories.

U.S. Trade Deficit Rises Slightly Higher in May
The U.S. trade deficit edged slightly higher in May, from $40.7 billion in April to $41.87 billion, according to the Bureau of Economic Analysis and the Census Bureau. The May decline was largely a result of a decrease in goods exports that more than offset the decrease in goods imports, demonstrating again how much manufacturers have struggled from global headwinds through the first five months of this year. The deficit has been volatile so far this year, but the year-to-date average of $42.57 billion in May is nearly identical to the $42.36 billion average observed in 2014. To learn more, visit here.

A legacy ERP system is older enterprise software that is largely no longer being enhanced. Legacy ERP systems were usually first created in the 1980s or early 1990s and were often based on older technology like PIC, Progress or even DOS. Their original user interfaces were character-based, though many received facelifts over the years, often using Windows clients to provide some degree of modern UI look and feel. Most also have some sort of bolt-on business intelligence tool for improved reporting and analytics.

Manufacturers Add 4,000 New Workers in June
Manufacturing employment increased by 4,000 net new workers in June, according to the Bureau of Labor Statistics. Though slightly lower than the 7,000 employees added in May, the good news is that manufacturing job gains have been positive the past two months after a flat April. The largest employment increases were seen in the food manufacturing, electrical equipment and appliances, furniture and motor vehicles and parts sectors. Overall, the unemployment rate declined from 5.5 percent to 5.3 percent, its lowest level since April 2008. To learn more, visit here.

Durable Goods Orders Decline in May Because of Lower Aircraft Sales
After a 1.5 percent decrease in new durable goods orders in April, the Census Bureau reported another decline of 1.8 percent in May. But unlike April’s decline, which reflected a broader softness in the market, May’s decline is directly tied to reduced aircraft sales for the month. Aircraft orders are often bulked together in batches, making them more volatile, as May demonstrated with its 5.4 percent drop in transportation equipment orders. On a positive note, we should experience an uptick in this category in June, with aircraft sales lifted by the recent Paris Air Show. To learn more, visit here.

Securing new customers is not a straightforward task. How many times have you negotiated a prospective contract to the finish line, only to discover that you are missing a critical piece of software necessary to obtain the new business? For example:

Housing Permits Rise to Fastest Pace Since August 2007
Housing starts were somewhat lower in May than expected, but housing permits rose to their fastest pace since August 2007, according to the Census Bureau and the U.S. Department of Housing and Urban Development. The new housing starts decline was a result of lower activity for both single-family and multi-family units, but fortunately, new housing permits soared to 1,275,000 units in May. Despite the decline in starts, this report offered some reassurance that the housing market has stabilized, with the promise of increased activity moving forward. To learn more, visit here.

When it comes to family, I have been very blessed in my life. I lucky enough to have my wonderful father around to this day and he gives me great advice. I try everyday to follow in his footsteps and pass all of his values, passion, compassion and strength on to my son.