With manufacturing gearing up for Industry 4.0, the rapid development of automated equipment and processes mean the pace of manufacturing has outgrown traditional techniques and procedures.
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What is your attitude toward manufacturing inventory? Well, that could depend on your position within the organization. For instance, the production supervisor views inventory as a safeguard against everything that can go wrong during manufacturing, and your accountant looks at it as an asset that has value.
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What is inventory? The answer is obvious. Inventory is everything that is in the warehouse – in pieces, or in money.
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Having a central system for stock lot tracking – also known as batch inventory tracking, lot control and lot traceability – benefits companies where compliance to standards and quality control play a vital role.
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Because of anemic economic recovery, the reduction of inventory is crucial for manufacturers. In order to better manage inventory levels while still ensuring the right part is in the right place at the right time, manufacturers are increasingly relying on advanced information management solutions, according to a survey released in December 2015 by PwC US […]
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Purchasing raw materials and having them ready is pretty much the first step of manufacturing. The following questions need to be answered 24/7 for efficient inventory control:
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