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Quick Tip: Switching ERP Systems

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This Weeks Quick Tip: Switching ERP Systems

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December 5, 2017

Quick Tip: Accounting Software and ERP Systems

Quick Tip: Why your Accounting Software Does Not Meet Your Manufacturing Needs

 

 

Accounting software provides the tools to manage financial aspects such as accounts receivables, accounts payable, payroll, profits and loss, and having the financial aspects of your business well managed.  However, there are some key differences between an ERP system and your accounting system.

 

Accounting is loosely used to refer to the financial aspect of your business operations. Accounting software is just one module in an ERP system.

 

accounting software and erp

 

 

An ERP solution can have all the accounting software features plus more. ERP stands for enterprise resource management system which monitors everything from the business’ financials, as well as track the both tangible and intangible assets, such as:

 

  • Human resources
  • Materials
  • Working hours
  • Product life cycles
  • Customer relations.

 

These variables have impact on the company’s finances so they are essential to your accounting.

 

Outside of financial management, planning, and budgeting, ERP systems provide integrations between your other business operations like quoting, work orders, sales order and purchasing. It provides analysis and gives you insight analytics for continuous improvement. In summation, an accounting software shows you the bottom line but with an ERP system you can see how you reached the bottom line and which areas of your business operations were affected by that number.

 

In MIE Trak Pro, you have instant access to your business information from anywhere – login to check account receivables, payables, cash receipts, and much more if you are away from the shop. There is no need for double entry since the data goes from MIE Trak Pro right into MIE Trak Pro’s full featured accounting system or into other integrated accounting packages like QuickBooks.

 

MIE Solutions provides an enterprise resource planning software for manufacturers called MIE Trak Pro. MIE Trak Pro has been chosen as Gartner’s 2017 Leader in Manufacturing Software and Gartner’s 2017 Contender in ERP Software.

 

November 21, 2017

Quick Tip: When to Upgrade Your ERP Software

Quick Tip: When to Upgrade Your ERP Software

 

Upgrading your ERP software has a large upfront cost and can be difficult to get your team on board, even if you know that making the leap to upgrading your legacy software may yield long term benefits.

Some reasons why people may resist upgrading a system:

  • Changing what is currently working
  • Intimidation of learning a new software in an older work force
  • “Time lost” spent on additional training
  • Disruption of their workflow

The truth is, upgrades deliver improved functions and features that can help you run your business leaner, more profitable, and can take your business to the next level. Technology is constantly improving and you should be doing regular audits that your system is still working for you as your company grows.

 

So how do you know it’s time for an upgrade?

You are noticing limited capabilities in your system

You need an ERP software that can scale with your growth. If your current software is out of date, you are not maximizing the benefits of what an ERP software can offer you.

 

Lack of visibility

As technology is constantly evolving, new tools help you see real time analytics of your company, things like monitoring the status of a job from quote to cash, or even being able to see if you are on schedule to complete production should be visible to you, if you aren’t seeing what’s going on with your current ERP software, it’s time for an upgrade.

 

Your system is experiencing a rising number of technical issues

With an outdated or older ERP software, you can spend hours manually entering your data repeatedly and there can be glitches if your software is no longer supported while missing out on critical updates and patches. For your ERP software to run your company smoothly, it needs to be able to process all the data accurately and efficiently. If your software is crashing, it’s time for an upgrade.

 

MIE Solutions provides an enterprise resource planning software for manufacturers called MIE Trak Pro. MIE Trak Pro has been chosen as Gartner’s 2017 Leader in Manufacturing Software and Gartner’s 2017 Contender in ERP Software.

 

November 7, 2017

Quick Tip: Kitting

Quick Tip- What is Kitting?

 

Kitting is a method used by manufacturers to help manage their inventory and reduce time-consuming tasks of gathering inventory and required components.  Kitting is used to pre-package needed components for installation before sending to the field and to pre-package before assembling a product together.

kitting

 

For example, who can forget struggling to assemble a dresser or bed from Ikea that includes all the nuts, bolts, screws were nicely packaged together. That is a form of kitting and is replicated inside a manufacturing facility to streamline assembling of a product. Grouping separate but related items or components together as a customized kit greatly reduces material handling and processing to improve assembly time.

 

Questions to ask yourself:

  • Do you have a vertical product line?
  • Are you running into inventory shortages?
  • Are you trying to streamline your shop?

 

Kitting helps manufacturers reduce material handling time and improve workflow efficiency. Kitting has several advantages such as reduces the time it takes to process parts and downtime in the production assembly line. Since your items are grouped together you can focus on getting your production complete.

 

Also, there is better inventory control. Because you are assembling a kit in the beginning, shortages and quality control issues can be resolved prior to creating your kit. This provides less stocked items, reduced space costs and ensures that your critical parts are available.

 

Using an ERP system like MIE Trak Pro to manage your kitting gives you the advantage of reduced lead times, reduced WIP, and maximizing machine utilization as there is no interruption in production due to shortages or looking for parts.

 

MIE Solutions provides an enterprise resource planning software for manufacturers called MIE Trak Pro. MIE Trak Pro has been chosen as Gartner’s 2017 Leader in Manufacturing Software and Gartner’s 2017 Contender in ERP Software.

 

October 24, 2017

Quick Tip: Supply and Demand

Quick Tip: Finding Equilibrium Between Supply and Demand

 

How can we measure and track supply and demand? More importantly, how do we find the equilibrium between the two?

 

Let’s start simple. Envision your company’s demand as a number of purchase orders you receive. This is the quantity consumers are willing to buy your product based on its price point. A customer is only willing to buy 20 chair legs at the price of $10, for example.

 

Now, let’s consider supply. Without getting into nitty-gritty economics, supply is simply the amount of product you are willing to supply to the market based on a certain price you will be receiving from selling that product.

 

For example,  you’re willing to produce 40 chair legs at $10 a leg, however, your customer is only willing to buy 20 at a price of $10.

 

Now we can talk about equilibrium. What’s the problem here? Your customer feels that the price is too high, pushing the number of table legs they’re willing to purchase down. If neither party is willing to budge because your overhead is too high and your customer can’t afford to pay more, then an equilibrium is never reached.

 

Does this sound like you?

  • Your prices are high because you had to factor in the costs that accumulate from a lack of efficiency from your workers and your production process
  • Too many hours are spent manually estimating jobs and looking through inventory
  • Machines have too much idle time when they could be put to work on the next job

 

It’s important to increase efficiency if you want to drive down production costs. An ERP system like MIE Trak Pro allows manufacturers to automate processes that take up too much time when done manually. Automating processes like estimating, quoting, and job tracking using MIE Trak Pro would save both time and money. After increasing your efficiency, you’re able to produce more table legs at a lower cost, which allows you to price your table legs more competitively. Finally, your customer’s demand is met and profit can be made!

 

MIE Solutions provides an enterprise resource planning software for manufacturers called MIE Trak Pro. MIE Trak Pro has been chosen as Gartner’s 2017 Leader in Manufacturing Software and Gartner’s 2017 Contender in ERP Software.

 

October 10, 2017

Quick Tip: Cycle Counting

Cycle Counting: What is it and How it can help you maintain accurate inventory quantities

 

 

Does this sound like you?

  • When you need to count inventory, you must do a physical count and manually input it to an excel sheet or worksheet.
  • You often run out of inventory
  • You sometimes over order
  • When you need to produce a part, you go out on the floor and see if you have the needed material

 

How can you make this more efficient, saving your employee time and saving you money in the long run?

 

Cycle Counting works by creating an inventory auditing procedure, which falls under inventory management, where a small subset of inventory, in a specific location, is counted on a specified day.

 

For example, rather than making large counts of inventory every day or week, you audit your inventory to be counted on certain days, for certain products and maintain an ongoing count.  The automated creation of the inventory audit list will streamline the process.

 

Benefits of cycle counting include:

  • Reduction of write-offs, with frequent cycle counts, comes the accuracy of inventory and lower inventory write-offs.
  • Limiting the amount of disruption within your warehouse
  • Increase in confidence in buying decisions
  • Lessening discrepancies

 

MIE Solutions provides an enterprise resource planning software for manufacturers called MIE Trak Pro. MIE Trak Pro has been chosen as Gartner’s 2017 Leader in Manufacturing Software and Gartner’s 2017 Contender in ERP Software.

 

 

Contact Us

MIE Solutions
13252 Garden Grove Blvd #215
Garden Grove, CA 92843

714-786-6230
info@mie-solutions.com

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