Pipeline inventory consists of goods that a company has ordered but which have not yet arrived in the facility. Managing this type of inventory can help schedule production or shipments in advance, reduce standing inventory levels, and avoid stock-outs.
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Discrete manufacturing implies producing distinct items that require assembly along a production line, whereas process manufacturing produces goods in bulk, with the raw materials being mixed together in the manufacturing process. In this article, we will explore key differences between the two and look at examples of each.
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Quality control is the process of fulfilling and checking the conformance to quality standards. There are many different approaches to quality control, but an important part of every one of these is regular inspection of the goods. Besides dedicated QMS software, some ERP/MRP systems offer the required functionality to small businesses.
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For the financial departments of manufacturing companies, few things are as important as inventory valuation. Due to the effect on the gross profit of a company, choosing the right inventory valuation method is a crucial step in ensuring the financial health of your company.
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Incoterms or International Commercial Terms are used to facilitate and standardize trade processes, especially logistics and shipping. As of today, there are 11 different Incoterms that all allocate different responsibilities to both parties of a transaction.
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Inventory optimization is the act of balancing inventory costs, service levels, and the complexity of inventory management. While there is no single magical solution for keeping your stock optimized, different methods and techniques are brought together in ERP/MRP systems.
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Decoupling inventory is the strategic buffer stock of subassemblies and WIP that could be used when suppliers are unavailable, when there are internal disruptions like machinery breakdown, or when demand is greater than expected. It allows companies to prevent all-around stoppages and mitigate the bullwhip effect.
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While e-commerce is growing at a break-neck pace, companies are looking for better inventory management solutions than what e-commerce platforms are offering in their basic packages. WooCommerce is one platform that is continuously expanding its selection of third-party extensions.
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In distributed manufacturing, production facilities are scattered throughout an extended geographical area, each one serving their local market, with their work coordinated with the help of cloud-based software. Distributed manufacturing is gradually gaining ground thanks to providing benefits such as shorter lead times and lower distribution costs.
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Intuit has announced that they will be retiring their inventory management system QuickBooks Commerce (previously known as TradeGecko) in June 2022. Here is what will happen and what the options are for their current user base.
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Batch records are documents that detail the journey of raw materials becoming batches of finished goods. Even though the term is mostly associated with process manufacturing, especially the pharma industry, every company that manufactures its products in batches or series can benefit from keeping batch records. Here is how to do it.
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Industrial equipment and machinery manufacturers are the cornerstone of the manufacturing industry. Building the technology used to increase efficiency in other businesses, industrial machinery builders have always been at the forefront of industrial innovation. Today, these changes are especially profound.
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