Top Benefits of Inventory Management System for Manufacturers

For all manufacturing companies, making an accurate estimate of inventory means the difference between profit and loss. Not stocking enough inventory of popular items can be as damaging as trying to offload overstocked products. Moreover, inventory availability ultimately impacts your customers perceptions of your business.

Inventory management is the process of end-to-end tracking stock, from ordering, receiving and stocking raw materials to producing, storing and shipping products. Having a full understanding of how much inventory they have as well as how much they need to fulfil upcoming orders allows manufacturers to maintain adequate stock levels. Forecasting and planning are crucial to responding promptly to clients’ demands and ensuring profitability.

The right tools can empower manufacturers with workflows and processes that drive continuous improvement and organizational value. Moreover, having the right technology can be a key strategic differentiator from competitors.

By automating your entire supply chain, including manufacturing execution system (MES) and warehouse management systems (WMS) you’ll be able to track all your products throughout the supply chain. These programs should work together seamlessly, providing visibility and maximizing efficiency from production to delivery.

 

Get real-time operational visibility

Keeping accurate records of your stock levels is paramount. Inventory management technology can offer the ability to visualize, manage and report on inventory in real-time across all channels to coordinate with your production team in monitoring work orders for your manufacturing plant.

 

Better inventory management

A MES & WMS combo will allow you to maintain high inventory accuracy, avoid over-stock, improve in-stock availability, forecasting and planning for seasonal periods.

Furthermore, cycle counts, spot checks and real-time information verification ensures warehouse staff are not wasting time looking for misplaced or missing items.

 

Support for just-in-time/lean production

A wider view into your supply chain will allow you to run a leaner operation, by

Additionally, optimising storage systems through directed stock rotation, intelligent picking directives, automatic consolidation, and cross-docking ensures no space in your warehouse is wasted.

 

Shortened cycle times

Automation will optimise all processes within your supply chain, shrinking turnaround windows. Increased fill rates and decreased cycle times will enable you to avoid costly shipping delays and backorders that jeopardize valuable customer relationships.

 

HighJump: efficiency with a low total cost of ownership

(from the HighJump website)

HighJump’s manufacturing execution system (MES) bridges the disconnect between the traditional MES and a warehouse management system (WMS), enabling optimal inventory flow throughout the shop floor. As costs climb, inventory management is supremely important, and our systems help you optimize that aspect of the supply chain. This integration gives management a complete, up-to-the-minute view of the entire operation. Moreover, to take full advantage of your IT investment, your new software must integrate with all other existing technology. HighJump's experienced shop floor and ERP integration teams will ensure a successful implementation and quick ROI.

The manufacturing support systems provides a real-time approach to managing, optimizing and executing mission-critical manufacturing processes. From receipt of materials to shipping of product and everything in between — HighJump provides manufacturers with the tools necessary to turn production challenges into competitive advantages. Capabilities include:

·         Paperless work dispatch

·         Touchscreen user input

·         Materials and BOM management

·         Genealogy and traceability

·         Quality management

·         Performance management

 

With the HighJump platform, iWMS Australasia can offer your business a tailored, configurable and scalable solution that will meet your exact business needs today and for years to come.

Contact us today to discuss your business requirements.