Back to Basics- ERP for Financial Management
Manufacturing is a capital-intensive sector. Being capital-intensive relates to the companies that are constantly facing huge capital expenditures. To give an example, an Food processing manufacturing company would require heavy equipment for continuously producing products. This makes such industries capital-intensive. A manufacturing company incurs a variety of expenses. Right from purchasing inventory, investing in expensive machinery, procuring […]
Back to Basics: ERP Software for Lot Control and Traceability
Overview In the times of global marketplaces and disruptions like COVID-19, quality & safety are the most important characteristics of a manufactured product. In highly-regulated process manufacturing industries like food & pharmaceuticals, any inconsistency in these virtues can potentially threaten the well-being & health of the consumer. To avoid any such mishaps, supply chain managers […]
Back to Basics- ERP for Compliance Management
Overview – To produce and market products, manufacturers need to comply with industry-specific technical, legal, and corporate regulations. Adhering to business-relevant laws proves to be the main key to a company’s success. But failing to achieve this results in hefty penalties that might ruin the corporate reputation and financial performance of the organization. A steady […]
Back to Basics: ERP for Inventory Management
Attention manufacturers!!! If you’re not cautious in managing inventory, it may cost you time, money, and perhaps your business. Poor inventory management can be a secret profit killer in your manufacturing business. However, inventory management software can be a savior and help you in minimizing this situation enormously. Table of Content Overview Do you know that inventory, […]
Back to Basics: ERP for Formulation Management
A formula/recipe is a set of instructions to combine ingredients or raw materials in a certain ratio with the help of machines and labour. For process manufacturing, a formula specification is expected to produce one or more finished products in bulk quantities. A formula/recipe is the holy grail of process manufacturing. A business can’t be run […]