Simplifying Compliance Regulations for Discrete Manufacturers

Manufacturing companies today face a myriad of challenges to remain successful. Advancements in technology and shipping resources have enabled global sales expansion, but also worldwide competition from industrial countries that don’t necessarily have to comply with the environmental and material regulations imposed on American and European producers.

Discovering and incorporating new supply chain management tools that offer your business a better means of meeting regulatory guidelines while streamlining the administrative efficiency of your staff, provides security from expensive fines and lowers your labor expense. This will help you improve profits while also start to level the playing field with your global competitors.

Parts and Materials Compliance

For production companies that fabricate goods using restricted materials, either in the purchasing requirements, or the parts themselves, managing the compliance paperwork and tracking parts can be time-consuming and tedious. Even accidental errors can result in hefty governmental fines that can diminish your cash flow and interrupt your production process.

Innovations in supply chain management and reporting software have enabled manufacturing companies to achieve better compliance performance through enhanced certification and specification tracking procedures. Working with your suppliers, the crucial information can be transmitted electronically, and then sorted, organized, and filed according to shipment dates and parts numbers.

Administrative Advantages

In addition to the tracking improvements, your administrators will spend less time entering data, and if audits are performed, retrieving the necessary documentation on regulated parts is simple and effortless. These compliance solutions allow your staff members to focus their energies on other, profit centric operations, such as new marketing strategies and better client services.

By introducing new supply chain management and reporting software, your discrete manufacturing business can discover ways to ease compliance burdens, which perpetuate growth and ensure your production success. To learn more about SBS Group’s Discrete Manufacturing solutions, contact us today or visit our Media Center with free seminars and resources.

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Increase Profitablity with the Right Costing Method

For discrete manufacturers, reconciling your monthly, quarterly, or yearly standard product costs with the same time period’s actual costs can be a stressful process. Given the soft costs accrued on stocked inventory, the monetary differences in your product costing estimates can be significant.

However, your standard, or projected costs and the actual product cost numbers don’t necessarily have to reflect such discrepancies. By introducing ERP software, designed to effectively improve procurement and supply chain procedures, manufacturers can substantially reduce the labor, administrative, and inventory housing expenses that contribute so heavily to your actual costs, while simplifying your product costing technique immediately.

Better Procurement Methods

Standard product costing leaves multiple gaps in your projected expense amounts because shrinkage ratios, FOD instances, and accidents are unknowns in the equation. You can limit these expenses with procurement controls available in ERP software. Some of these controls include the ability to arrange replenishment shipments at the point of assembly, negotiate consignment plans with suppliers, or other lean strategies that eliminate the soft costs of consumable materials.

Workforce Efficiency Improvements

With ERP Software specific to discrete manufacturers, you can determine actual product costs for better cash management and cost controls, allowing you to make informed decisions regarding profitability margins. Furthermore, the ease of use decreases confusion and creates an atmosphere that enhances efficiency, saving labor and administrative costs.

Rather than continue with an antiquated “push” manufacturing system, become educated in product costing solutions that can allow your company to see the real picture of actual costs? The benefits to your production output and procurement control procedures can have a real benefit on your bottom line. Want to learn more? View this 30 minute on-demand webinar on the topic today- It’s free!

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Homebuilders: Is Your Accounting Software Up to Par?

Successfully managing job operations in the homebuilding industry requires a host of dependable, experienced personnel performing their tasks with diligence. Everyone involved in the homebuilding process, from your project managers, to your sales and marketing team rely on up to date information. And although with continued advancements in technology it’s easier than ever for your team to stay connected, outdated homebuilding accounting software can hinder your professional progress, costing you time and money.

Understanding the need for an upgrade is great, but as a homebuilder, it may be difficult to determine if your current system isn’t operating at the level you need it to.

If you want to be sure that your accounting software stacks up, ask yourself these questions:

• Can it compare standard costs estimates with the actual costs accrued on the job-site

• Can it offer real time information from site superintendents on current labor costs and the subsequent worker’s compensation codes for certain activities?

• Can it organize sub-contractor data, work agreements, and certifications according to specific jobs?
• Is it able to direct accurate billing information to the proper personnel for efficient approval?

If you answered no to any of these questions or are unsure of your software’s capability, it may be time to do some research and look at something new.

The answers to these questions will ascertain how much time and money your company can save by using an efficient homebuilding accounting software and will determine the level of advantage you can gain over your competitors in attracting, signing, and constructing new contracts.

 

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