How do you manage the flow of materials throughout the value chain?
How do you maintain control of inventory to increase production efficiency and reduce working capital requirements? Maintaining inventory accuracy, optimising budgets and spending, and streamlining production planning are essential to increasing production efficiency.
As the cost and availability of raw materials continue to rise, ensuring the largest percentage possible of those materials make it into finished goods instead of waste is essential. Optimise inventory management and reduce operating costs by enabling practices like LIFO and FIFO, material monitoring and tracking goods-in, warehousing, production, shipping and distribution.
Here are five top benefits of implementing a real-time inventory management solution:
- Lower costs: Reduce unnecessary spending on inventory counts, customer support and supplier management.
- Increase visibility: Know exactly where your inventory is in real-time to better plan and track production.
- Balance inventory: Keep your inventory levels balanced to avoid stockouts and overstocking.
- Improve productivity: Better organisation of inventory operations reduces the effort required for repetitive tasks.
- Reduce delays: Reduce production, shipping and delivery delays caused by orders not being replenished on time or items being unavailable.
Inventory Solution
Built on the MES TrakSYS™ platform from Parsec Corp, ITI Group’s (formerly Cimlogic) Inventory solution gives manufacturers real-time insight into material status and location through warehousing, production, and distribution:
- Manage inventory: from raw material warehousing to finished goods more effectively using real-time production and ERP data
- Raw Materials & Work-in-Process: gain full visibility of material locations, statuses, and interruptions in material flow. Reduce delays caused by inventory queues which are often a result of inadequate communication
- Production Planning & Scheduling: plan and schedule human and machine resources, to fully utilise the available time of workforce and equipment. Track schedule compliance, changes and reasons
- Finished Goods: determine quantities required to fulfil orders. Real-time exception reporting for late and partial quantities. Stock-out predictions based on usage patterns
- Material traceability: track materials throughout production, including supplier, lot code, process route, employee touches, dates/times, quality test results, process parameters, etc
- Gain visibility into scheduling & warehouse inventory metrics: improve inventory accuracy, monitor supply chain quality/performance and reduce inventory write-downs to quickly determine areas of the process that require corrective action to decrease order-to-ship lead-times and improve on-time delivery performance
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TrakSYS MES Brochure
Gain real-time insight into material status and location through warehousing, production, and distribution.
Download brochure
Real-Time Visibility Blog
Achieve real-time manufacturing visibility for reduced availability losses such as planned or unplanned downtime and inventory turns.
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MES Solutions Infographic
An overview of the MES modules available and how you can benefit from real-time, data-driven solutions.
View infographicMore in Manufacturing Execution Systems
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