Global Shop Solutions offers various professional services, including financial health checks and on-site consulting, to help manufacturers enhance their operations and ensure accurate financial reporting.
Manufacturing organizations take regular inventory of parts, materials, tools and other essentials to maintain smooth operations. But how often should they take stock of how well the business is leveraging all the tools available in an organization’s ERP software?
Mike Melzer, vice president of operations and services at Global Shop Solutions, a software provider of ERP systems for manufacturers that aims to simplify manufacturing, encourages organizations to ask themselves some questions to identify areas for improvement to bolster business growth. They include:
Costs: how well do organizations know their costs?
Inaccurate job costing can lead to inefficient manual tracking processes that can result in excessive rework and overtime, inaccurate quotes and job loss due to high labor costs. Software like Global Shop Solutions’ Job Costing Accounting module captures costs by measuring cost components by freight, labor, overhead, outside services and more.
This module allows organizations to track labor time and costs to identify human error, correct costs, perform daily balancing and track inventory and production costs in real-time.
Do organizations know their inventory?
Precise inventory tracking can enhance the production process. To produce accurate inventory counts, organizations can turn to inventory management tools to gain real-time insights into their inventory and how to increase productivity and enhance workflows.
Barcode inventory, for example, can facilitate real-time mobile transactions and scans during physical counts. Leveraging a solution such as an Automated Purchasing Screen to buy inventory based on material requirements, planning functions and purchase history. Leveraging inventory management tools, organizations can benefit from cost reduction, improved forecasting, great visibility with access to real-time data, an optimized inventory and better inventory accuracy.
Can organizations flow their inventory and operations data for an accurate financial statement?
Manually transferring production and financial data can result in incorrect financial statements due to human error. Shop Management modules and screens can monitor and report on all aspects of an organization’s shop, including inventory, labor and production, which ensures the correct data translates into the financial statements. Shop Management enables organizations to identify and correct financial mistakes caused by inaccurate or incorrect data.
Do organizations know what professional services are available from Global Shop Solutions?
Global Shop Solutions’ Continuous Improvement Team offers 40 professional services to help organizations simplify their manufacturing operations. Some of these services include financial and operations health checks, on-site consulting for topics specific to the company/user, GAP analysis process review, process audit and more.
Discover more from Global Shop Solutions and how it can support manufacturing organizations, here.
