Showing posts with label Manufacturing Business. Show all posts
Showing posts with label Manufacturing Business. Show all posts

Friday, April 21, 2017

Microsoft Dynamic GP Manufacturing Features That Your Company Needs Most

One of the biggest issues in Manufacturing businesses is the lack of agility and efficiency. Like every other line of business, manufacturing greatly needs optimization in all the aspects of business, such as supply chains, financial management, materials management, among others. As an experienced business consulting firm, at ERP Consulting LLC, we have helped companies overcome these issues by implementing Microsoft Dynamics GP as an ERP Solution. The best thing about Microsoft Dynamics GP is that it comes in modules that are specially designed for every aspect and type of businesses. For example, in the manufacturing department, it offers comprehensive and powerful major features and add-ons that address and eliminates issues and inefficiencies and provides automation in transactions, including:

  • Manufacturing Order Processing

    It’s one of the core features of the manufacturing module and streamlines the entire process of manufacturing. This function determines the many alternate assembly routes that are available for every manufactured item. To make the process accurate, it also enables easier tracking of production, machinery, and detailed labor information, such as skills, work hours, schedule, and shifts.

  • Sales Forecasting and Configuration

    With this feature, you will be able to look back on the sales from the previous years for reference as well as a request for a sales forecast for a certain period of time in the future. This helps you understand whether or not there is a need for some changes in a certain department for the company’s continuous growth. The sales configuration function also provides amazing features, such as simplifying order process, enhance quoting and shipping of products, calculating total costs of every sold product, and estimating the completion date of every order.

  • Financial Management

    One of the biggest issues that businesses face is inefficiency in financial management. Microsoft Dynamics GP overcomes this by automating processes. It automates every transaction process as well as payment adjustments for increased productivity. You can create budget templates as many times as you need and improve your financial and audit control.

  • BOM

    Every finished product requires an active Manufacturing, Engineering, and Archived Bill of Materials. This feature lets you easily make changes and updates on the BOMs, as well as make alter revision levels and record their history for future reference. On top of all that, the software will also make a comprehensive analysis of finance, sales, and purchases, make complete and real-time reports, and simplify the management of payables and receivables.

  • Inventory

    The latest version of Microsoft Dynamics GP also provides an inventory all-in-one viewer where you can access and view all the inventory information you need, such as quantity in, quantity moved, and quantity out. You will be able to see where a certain quantity is sent to or received from, along with extensive details about the transactions.

  • Job Costing

    This helps make finance management efficient by spotting unreasonable cost contributors and variances and eliminate duplicate entries in the system that could possibly lead to errors in the future. Other than that, it also makes capturing job costs automated for enhanced efficiency.

Manufacturing can be really challenging and complex but with the speed and efficiency that Microsoft Dynamics GP provide, all tasks can be simplified and streamlined. You will have the ability to automate the major processes and transactions and retrieve all the information you need to make business decisions in complete detail. If you want outstanding business solutions to overcome inefficiency in your company and grow your business, ERP Consulting LLC has a team of professional consultants that are experienced in implementing Microsoft Dynamics GP in Pataskala Ohio to help you. Let’s begin the process of achieving your massive business success by calling us at 740-951-0220.

Friday, February 17, 2017

All about Landed Cost Formula

Just how much are you spending on importation? Is it worth it?

Starting a manufacturing or retail business can be tricky. You need to consider where you source your raw material supplies (manufacturing) and ready-for-sale products (retail). Clients who source materials from a different part of the globe are called Importers. They may experience miscalculation of pricing of goods the first time around because of improper cost accounting. As an importer, you should know that the cost of materials you buy is not the only amount you pay. There are other charges you may not know of yet. This is where the Landed Cost Formula comes in.

What is Landed Cost Formula?

In a nutshell, Landed Cost Formula is the full amount you spend per imported good or material. This takes into account the following: Price of Imported Good, Freight Costs, Insurance, Storage Costs, Customs Duty, Tax, Customs Clearance, and more.

Clothing Manufacturing Business

Let’s say you are a clothing manufacturing business and you need to source out raw materials from China. You will definitely need cloth, sewing materials, and the like. If you check out your supplier’s prices, they seem reasonable. However, because that is not the only money you cash out upon delivery, it is important for you to understand other expenses you will be paying. Your Chinese supplier may not know the Customs Duties and Taxes in your state, so you may talk to your customs department for more information.

How Do I Calculate my True Landed Cost?

There are some clients who complain that they only get to know how much they really spent long after their shipments have arrived. Factors like foreign exchange rates, additional customs payments, and FOB can destroy your initial costing. This is why you need to have a clear idea of all costs you may be incurring and use estimates in your computations. To make smarter decisions, Enterprise Resource Planning (ERP) Software is readily available to help you do just that and focus on running your business instead of worrying about cost accounting.

How ERP Consulting LLC Can Help

ERP Consulting LLC has a dynamic knowledge on different businesses that plan to operate with global connections. We help to install Microsoft Dynamics GP in Pataskala Ohio so you can better choose which materials to source for your products. Our firm also offers support and after-sale services so you need not worry about improper guidance. Check out our Web site for more information at erpconsultingllc.com or give us a call at 740-951-0220.

Microsoft Dynamics GP will help you gain better control on all aspects of your business. This includes management of costs, inventory, accounting, human resources, customer relationship management, and more. Call us today and take the next step to your business’ growth!