By Peter Glenn
Everyone knows that one great way to save money and reduce time to market in the manufacturing industry is to introduce as much automation as you can into the production line. Automated processes are typically both cheaper and more accurate than human intervention. But why stop there? By implementing intelligent automation software into other areas of your business, you can make just as big of an impact on your bottom line with no loss of productivity.
Get the Goods You Need When You Need Them
Even the best automated production line in the industry would be worthless without the raw materials needed to produce your goods. While it’s essential to have the right raw materials on hand at all times, storing too much product means extra storage fees and heightens the risk of damage, loss or spoilage. Many leading companies have turned to Just-in-Time Inventory tracking systems to help alleviate both of these issues. A good Just-in-Time Inventory tracking software package will have many useful features, such as tracking Minimum/Maximum Inventory Levels, Re-order Points, Expiration Dates, and usage trends. The best ones will go even further and provide you with tools to help you forecast need for adjusting these values based on growing sales or seasonal changes, and even automatically initiate re-order of Inventory when it gets low so you never have to worry about running out again.
Track Suppliers As Well As Shipments
Another area where manufacturing companies can leverage software to increase savings is with Vendor negotiations. Good Purchase Order Management software plays a key role here, allowing you to automate approvals and purchasing for goods orders, as well as track multiple simultaneous shipments from across the globe. However, the best Purchase Order systems will go even further and provide you with ways to track performance metrics such as average processing times and full purchase history. You can then use this information in contract negotiations to get better prices for your goods or secure better shipping arrangements, both of which can provide substantial savings in the long run.
Boost your Bottom Line with Intelligent Automation
As you can see, there are lots of ways to save on your total costs of production with Intelligent Automation that go well beyond the Production Line. With many different types of intelligent software automation solutions already on the market, we recommend working with your partner to find one that can be tailored to your specific needs. No matter what kind of business you operate or what kind of goods you manufacture, there is a software solution out there that can help you run your business smarter.
About the Author
Peter Glenn is a Senior Level Manager for Paperless Business Systems, Inc. and Product Manager for eRequester Purchasing and Expense Management Software. Peter has a long and varied history in managing custom software development projects across multiple industries and over 15 years of experience in software. He has been a key player in the recent growth and direction for the eRequester platform and has been an integral part of the eRequester team since 2009.
Reprinted from the Summer 2016 issue of Bellwether.
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