Inventory

With inventory being critical to your ability to produce finished goods on time and cost effectively, issues in this area can have a significant impact on your bottom line. We can help you gain control.

Key Issues:

• Can’t find inventory in your facility
• Incorrect on hands
• Incomplete/inaccurate costs
• Too much of the wrong inventory
• Production stoppages due to inventory out of stocks
• Time consuming and costly year end counts
• Ineffective minimum stocking levels
• Delays in inventory transaction processing
• Managing different units of measure
• Capturing scrap costs
• Cradle to grave serial/lot tracking

How INDUSTRIOS Can Help:

The INDUSTRIOS team is skilled at implementing effective inventory strategies in the various manufacturing environments.

Inventory Organization

We work with you to identify how to best setup your inventory in the system taking into consideration your secured vs. unsecured areas, production staging areas, transaction timeliness, transaction units of measure, serial/lot tracking and inventory identification. At the end of the day you want to be able find your inventory, report on it, value it and plan it in an effective manner. We can help.

Inventory Reduction

With our know how and tools, you’ll be able to identify excess inventory and set more effective minimum stocks to increase your fulfillment rates while allowing you to reduce your investment in inventory. With the implementation of time phased material planning we help you maintain proper inventory levels and teach you how to monitor for red flag situations impacting inventory. And when customers change their orders you’ll know what to pull in, push out or cancel, avoiding unnecessary inventory purchases or manufactured goods. Not only will you be able to reduce your inventory but you’ll avoid future inflation of inventory.

Eliminating Costly Year End Counts

Structuring your inventory locations and bins to support cycle counting can reap substantial savings. We are able to guide you through the process of establishing your cycle counts and organizing your inventory area to virtually eliminate the need to do costly year end counts.

Effective Data Capture

Of course establishing efficient inventory processes to ensure inventory flows smoothly through your production facility, and capturing the data in a practical fashion is key to a successful implementation, and reliable inventory on hands and costs. Our team will help you identify when and where your collection points should be to deliver the results you need. You need to make the right choice for your company where data collection is concerned. We’ll help you consider your options: traditional data entry, shop floor tracking, mobile transactions, backflushing, pulls by job, sequence, or item, usage of non-stocking inventory or receipt triggered transactions. Our process respects the practical nature of your business, and our system is flexible enough to adapt so you’ll get the results you need.

Inventory Costs

With an accountant’s eye on cost, your inventory hierarchy will support a 50,000 foot view or visibility to transaction detail. We understand the inter relationships between the functional areas and help define the structure to ensure both the financial and operational views on costs can be reported on and provide the best cost analysis possible. Your accountant can have the fully burdened cost and your operations team can focus on material cost. Financial and operational costs out of one system - its all in the structure.

What we consider:

• Inventory periodic valuation – valuation method (fifo, average, last actual), how to value
• GL integration to support absorption and variance analysis
• WIP valuation
• Estimating for quoting
• Job level performance analysis
• Landed cost
• Margin analysis

Pratt and Larson Ceramics Karen Roberts, Controller "INDUSTRIOS Inventory has had an impact in multiple areas. The biggest change is the visibility to inventory at the bin level. It enables us to quickly locate products for customer pick up and confirm inventory through cycle counts quickly and accurately. It is so easy to use."