What If You Could Improve Your Bottom Line By 50%?
With good inventory management practices, and the experienced and realistic solutions from BASM, you can easily improve your bottom line by 50%.
Maintaining the RIGHT inventory stocking level is of utmost concern for your manufacturing business. Maintaining raw material and finished inventories at levels which are too low results in lost sales or costly production delays, or too high as to ties up much needed capital and space.
Consider this example,
Adapted from A New Era in Inventory Management for the Distribution Industry by Charles J. Bodenstab: Assume you have $10,000,000 in sales with $1,800,000 in inventory with pre-tax profits of $150,000. Reducing your inventory by 20% (very realistic) will free up $360,000 in cash. That is worth at least $36,000 in reduced borrowing alone. Add another $36,000 savings in reduced obsolescence, insurance, space, taxes and handling and you have improved you profits by nearly 50%.
Moreover, with better stocking, you will improve fill rates to strengthen your competitive position in the marketplace and slash your actual manual time and cost of managing inventory. You may find your turns going from four to seven to ten as you improve your inventory management and improve your fill rate from mid-80 percent to mid-90 percent.
With practical manufacturing resource planning from BASM, you get realistic solutions for effective and profitable inventory management in a fully integrated system.
Inventory software for your manufacturing business can be your biggest asset or your worst nightmare. As a successful manufacturer, you understand that direction and control of your company activities is a key factor in your success. Managing inventory is at the crux of these activities.
You know that no matter what, ineffective handling of your inventory requirements will result in business issues. Too little, and you can’t meet your orders, too much and inventory starts to eat away at your bottom line. You need to ensure you have the right inventory levels at all time, and that the materials and components are bought and sold at the best possible price.
BASM can help you effectively handle inventory management tasks such as:
- Inventory Stocking
- Compliance Labeling
- Processing Customer Service Requests
- Lot & Serial Number Tracking
- Bioterrorism Lot Tracking & Reporting
- Advance Ship Notices
- And more!
Unless you control your inventory, it will control you. We can help you better manage your inventory control software, which in turn will allow your business to become more profitable. Let’s face it, 98% accuracy based on the value of inventory is not the same as 98% accuracy of inventory counts. Inventory management is only partially about the dollars; it is mostly about the right item in the right size at the right time and the right cost.
Read what our clients have to say about BASM,
“BASM implemented a Work Order and Purchasing system that helped us get real time pricing to alleviate this problem (cost overages). This also enabled us to eliminate our spreadsheet based inventory system.”
Scott Campbell, Vice President,
Cord Sets Manufacturing Corp
BASM can help you improve your Manufacturing processes with:
- Inventory Forecasting – Figure out how much inventory you should keep in stock
- Material Safety Data Sheets (MSDS) – Automate which products require a MSDS
- Return Merchandise – Ensure your customers get the correct amount of credit, and your inventory reflects the return
- Lot and Serial Numbers – Simplify your processes and maintain productivity
- Bioterrorism and Recall Tracking – Ensure you can make recalls without stress
- Part Numbering – Track part numbers and cross-reference them
- Warehouse Layout – Reorganize layouts to minimize walk and drive time
- Inventory Dashboards – Review items and other measures easily so you can quickly respond
We know and understand inventory management for manufacturing businesses. Our automation solutions help you improve all your manufacturing processes so you can efficiently and easily operate and manage your business, and focus your energy on other important elements of your enterprise.
Whitepaper: “How to Choose a Manufacturing System”
When it comes to Manufacturing ERP Software (Enterprise Resource Planning), it’s important to understand all the benefits of an integrated ERP system before beginning your selection process. We created this guide—to provide you with the essential information you need to make the best decision possible.
- How do I get started evaluation Manufacturing ERP options?
- How do I choose a Manufacturing ERP consultant & resller?
- How do I deploy a Manufacturing ERP across my orginization?
- Hosted vs. On-Demand vs. On-Premise?
- How do I determine my ERP implementation budget?
Download this Whitepaper