These two manufacturing modes are just what you’d assume. Make-to-stock manufacturing is where finished goods are built to inventory. The demand associated with make-to-stock is typically driven by a forecast. Additionally, a mix of forecasting, inventory quantities driven by planning policies, and actual demand can drive planning and scheduling for make-to-stock manufacturers.
Before I get into the best costing methodology for a work-order-driven manufacturing company, let me define both methods. With standard cost versus actual cost, the discussion centers around how the ERP system values an inventory or labor transaction. Here is how the different costing methods calculate the value of the transactions.
Manufacturing ERP solutions and manufacturing processes go hand-in-hand. Your manufacturing process is typically defined by how you make what you make: the materials needed, the operations required, and the sequence of those steps. An ERP digitally supports any given manufacturing process by giving users a tool to help them execute, track, and analyze results of that process. When the tool used to support manufacturing process planning changes (like replacing Excel sheets with a new ERP), the processes typically change, too.
The types of consultants are: project managers, manufacturing consultants, finance consultants, and technical consultants. All of these individuals are typically engaged in a new implementation and used for varying consulting and technical efforts. There are a select number of consultants who are versed on the three primary areas of manufacturing, finance, and technology; we are proud to have these rare talents on the Visual South Professional Services Team. Please remember that the team helping you implement the software is just as important as the software itself . Our consultants exist to coach you on how to successfully use the application.
At Visual South, we have decades of experience implementing ERP software. I personally have been with Visual South for 20 years, and spend a lot of time working with manufacturing companies. Some of our customers are looking to get the most out of their Infor ERP, while others don’t have a solution and need help evaluating which ERP platform is the best fit for their company. Regardless of where they’re at in their ERP journey, I have found that just about all of these companies are working to have better manufacturing process control. How they do that is highly dependent on the tools they use to manage their business.
There are multiple uses for field service management software, across many different industries. This type of platform is widely used by companies that do service and repair work in HVAC, electrical, commercial, and industrial maintenance industries. It’s also used in the repair industry itself, where work is performed onsite and remotely.
Infor VISUAL ERP is a solution built for small to mid-market manufacturing companies. The primary customer for VISUAL ERP is organizations that use a work order to produce their product, as opposed to those in a highly repetitive or process manufacturing environment. These work-order-based companies could be make-to-order, configure-to-order, make-to-stock, engineer-to-order, or a combination of all of these.
A recurring theme we’ve seen with companies over the past 25 years is they want to know their total manufacturing costs. Not only do they want to know these costs, but they want to trust the numbers are accurate, and be able to make important business decisions with that knowledge.
While everyone wants to be good at production planning, not many are. The most common challenge we see is that everyone wants to use their respective ERP’s scheduling application, yet they struggle to make it work. And this struggle leads to the abandonment of the native ERP application and the subsequent creation of spreadsheets, custom reports, and a variety of other methods that attempt to manage production planning. Needless to say, these “Band-Aids” can cause challenges of their own, and ultimately result in a lack of a unified and coherent approach from a systemic standpoint.
The software industry has no shortage of terms and acronyms, so before we talk about Infor’s Business Intelligence Tool (that’s called “Birst”), what is Business Intelligence (or “BI”)? Business Intelligence refers to solutions and processes that support the gathering, analysis, integration, and presentation of business information. Business Intelligence tools help companies understand their business better, and enable their employees to make better decisions because they have the information they need. At its most basic level, Business Intelligence is what is commonly referred to as “reporting”, like a bookings report, a purchase orders due for receipt report, for example. Business Intelligence solutions take reporting to the next level by making the data easier to consume for end users, easier to analyze, and easier to get answers to difficult questions.
