Lean Manufacturing Systems

Companies, now more the ever, face competing demands for capital and labor, reduced product turnaround times and diminished product lifecycles. The opportunity cost of having capital tied up in idle inventory results in reduced returns if the capital could be better allocated to funding growth opportunities. Manufacturing software is an excellent solution for tracking and managing inventory.

In recent years, companies are adopting manufacturing practices associated with lean manufacturing processes. Many organizations are finding that adapting models that are working in other industries can result in superior product development and manufacturing processes. Lean manufacturing software is an example of this. The ability to track stock levels, forecast future requirements and make adjustments to seasonal variations provides a superior way for organizations to manage capital allocations to stock requirements.

What Type Of Functions Does Manufacturing Inventory Software Perform?

Much of the functionality depends on whether the asset inventory software is used as a stand alone system or part of an integrated systems approach. There are many additional capabilities that can be provided when the software comprises part of the organizations enterprise resource planning platform. Some of the conventional features of this type of software includes:

(i) the ability to barcode inventory to track check in and check out processes (ii) maintain stock levels and flag reorder levels

(iii) track defect products and reorder status

(iv) perform physical and cycle counts

(v) run reports for strategic decision making purposes

(vi) receive, pick and transfer items between locations

(vii) integrate with wireless applications for mobile sales personnel who need to query stock levels.

Benefits of Manufacturing Inventory Software:

(a) Know what materials are required and when. This provides the dynamic ability to shift according to changes in demand

(b) Determine the optimum inventory holding levels to optimize tied up capital

(c) Use reporting functionality to make forecasts for staffing, planning and scheduling

(d) Improve efficiency, effectiveness and productivity

(e) Improve organizational responsiveness to customer demands.

Inventory accounting software assists organizations to optimize its supply chain and inventory flow. With companies facing the increasing challenges of higher inventory carrying costs, higher transportation costs due to the rise in the price of crude oil, and diminished asset utilization, organizations are required to respond with cost cutting and efficiency improvements to offset these effects. Using manufacturing inventory software can help a company to make performance improvements and better align its inventory needs to the overall goals and objectives of the organization.

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