Raw Material Inventory Management Software is Essential for Manufacturing Industry

ERP is business process management software and stands for enterprise resource planning. It effectively manages and integrates a company’s financials, supply chain, HRM, CRM, manufacturing, and others. ERP is critical for most companies to bring all their business processes together to improve collaboration and empower business productivity. Modern Raw Material Inventory Management Software effectively covers the entire activities and processes related to raw material. However, the Best ERP Software covers a lot of functionalities, but some of the key business processes include:

Accounting & Finances: Modern ERP systems offer dashboards to provide an overview of accounting and finances. The automated daily tasks enable you to get real-time information anytime and anywhere.

Human resources: Modern ERP solutions allow manufactures to manage company data and streamline employee management tasks. They can also track employee performance and identify HR problems before they occur.

Inventory Management: Inventory is an expensive asset and needs careful management. Businesses can improve profitability and working capital through better inventory management.

Manufacturing: This functionality enhances business communication and automates daily operations. It enables manufacturers to fulfill customer’s demands and manage resources with real-time data availability.

Supply chain Management: The automation of all business processes effectively saves time and money. Manufacturers can manage their entire activities, processes, and operations related to the supply chain.

Moreover, raw material is the most essential element for any manufacturing company. Manufacturers use raw materials for the production of different types of products according to customer’s demands. ERP Software for Manufacturing can effectively deal with raw material management for better production and performance.

What is raw material inventory management software?

The total cost of entire in-stock items is the raw materials inventory and most manufacturing companies are now implementing this mechanism. You will find 2 types of features including DM (direct materials) and IM (indirect materials) to manage raw material.

Direct Materials

The Materials Management Software uses direct materials feature for all the final product components. Some common examples of direct materials include: the wood used to manufacture wooden chairs, the leather used to manufacture handbags, and other leather-related products.

Indirect Materials

The indirect materials feature of Material Inventory Software includes all the components which aren’t part of the final product. But it features consumed materials during the manufacturing process. Some common examples of indirect materials include light bulbs, glue, cleaning supplies, and disposable tools.

Raw Material Inventory Management Benefits:

MIE Solutions is one of the best companies offering the best Raw Material Management Software for various types of companies. Our Raw Material Inventory Control is also integrated with Purchase Raw Materials, Production Order Tracking, and Customer Order Processing features. We offer a more flexible, feature-packed, and the best inventory control system according to the requirements. You will get a plethora of benefits with the implementation of our Raw Materials Inventory Software.

Key Benefits of Raw Material Inventory Software:

• You can run the inventory valuation report feature to get close month-end inventory.
• It helps to check cycle and inventory aging to avoid the death of missing inventory.
• The effective inventory valuation with multiple options including weighted average, FIFO, LIFO, and standard cost.
• Our Material Management System Software efficiently cuts administrative and managerial expenses.
• Automation of purchasing, purchase order management, RIC, and PRM reduces errors and administrative time.
• RIC feature can effectively eliminate shade variations within cuts.
• Our Material Tracking Software will enable you to initiate queries on the scanner to find any roll or trim items.
• Manufacturers can use Scan Pull Sheets to display material requirements for order and scan each item out of inventory.
• Scanning inventory on hand enables you to get a physical count, rapidly, and correctly.
• Our dedicated software offers a customer order processing feature to automatically generate customer orders into production orders.
• A more flexible Bill of Materials within BOM Management Software enables auto-substitution for size, customer, or plant-sensitive items.
• It ensures smooth production flow and in-stock status for scheduled production.

To check Automated Material Handling Equipment visit MWI Solutions.