For manufacturers that offer their customers configurable products or made-to-order products, a product configurator helps speed and streamline order processing. It also creates automated BOMs to ensure the product is manufactured according to customer specifications. In this blog, we will dive into what a product configurator is and how it can speed up order processing. What is a Product Configurator? A product configurator allows users to customize products by selecting features, colors, materials, sizes, and finishes. For example, an electric car manufacturer could use a product configurato ..read more

From the moment a customer requests a quote to the final product delivery, a complex web of processes is in play. Managing these processes requires meticulous tracking from quote-to-cash (QTC). What is Quote-to-Cash? The quote-to-cash process encompasses every step, from the initial request for a quote to the receipt of payment for the delivered product or service. It involves multiple departments, systems, and stakeholders, each playing a crucial role in ensuring a seamless flow of operations. Quote-to-Cash Steps 1. Quoting The process begins with a customer inquiry or request for a quote. S ..read more

Additive Manufacturing (AM), often called 3D printing, has emerged as a revolutionary technology potentially transforming traditional production processes. As this innovative approach gains traction across various industries, the need for seamless integration with Enterprise Resource Planning (ERP) systems becomes increasingly evident. This blog post will explore the intersection of additive manufacturing and ERP. It will explore the benefits, challenges, and strategies for achieving optimal synergy between these two critical components of modern manufacturing. What Is Additive Manufacturing ..read more

In this tech-driven world, data is the driving force for every business, many of which use Enterprise Resource Planning (ERP) software. ERP software is a complete business management suite integrating data and business functions across sales, finance, accounting, purchasing, production, and other departments. Digital data stored in ERP gives cybercriminals a significant opportunity. Ransomware attacks have grown by 13% in the last five years, with an average cost of $1.85 million per incident. In the coming year, cybercriminal activities are expected to further escalate by extortion tactics ..read more

The ways in which manufacturers extract and apply business intelligence (BI) are in transition. Depending on a variety of factors, manufacturers are relying on everything from manually produced spreadsheets to inflexible legacy ERP systems all the way to “smart manufacturing” approaches utilizing IoT and even IIoT. While the overall trend is toward more integrated and flexible systems that can process voluminous amounts of data, yielding analytics and metrics for improved decision-making, a majority of manufacturers still have yet to commit to the newer, “smarter” technologies. In the RSM Int ..read more

Acquiring goods from vendors and suppliers is one of the critical and routine tasks for manufacturers. Managing, planning, and tracking finance is very important when it comes to the outflow of cash. Otherwise, it can adversely affect a company’s bottom line. Procurement and purchasing are terms interchangeably used in manufacturing but are distinct activities. In this blog, we will see how purchasing and procurement differ. Procurement Procurement is a long-term, holistic approach that includes acquiring goods and services from external sources, identifying needs, negotiating, receiving, and ..read more

In an era where environmental concerns are taking center stage, sustainability has emerged as a critical driver of success for manufacturers, big and small. Governments, consumers, and stakeholders increasingly prioritize sustainable practices, urging manufacturers to reevaluate their operations. While large corporations have been at the forefront of manufacturing sustainability initiatives, in 2024, more small and mid-sized manufacturers are expected to incorporate green initiatives, recognizing that sustainability is essential for their bottom line. Embracing manufacturing sustainability is ..read more

A recent study published by the US Chamber of Commerce noted that small businesses that utilize technology platforms outperform their competitors and are more optimistic about their future. Small businesses that use technology directly employ or support almost a billion jobs. Technology Use Is Linked to Growth and Optimism By leveraging technology, small businesses substantially influence America’s economic growth. These technologies include platforms for digital advertising, business software such as ERP, and other apps. Ninety-three percent of small business owners use technology, and 94% r ..read more

Inventory forecasting, or demand forecasting, estimates future inventory levels needed using past data, upcoming events, and market trends. Inventory forecasting ensures manufacturers have the proper inventory to meet customers’ needs while minimizing excess inventory costs. It involves analyzing historical sales data and identifying patterns and trends to adapt to changing market conditions to meet customer demands.  Let’s look at the benefits of inventory forecasting.  1. Optimized inventory The main objective of forecasting inventory is to strike a balance between having enough inventory t ..read more

Inventory management is a critical aspect of any business that deals with physical goods. Keeping track of your inventory, ensuring you have the right amount of stock on hand, and minimizing costs associated with storing and managing inventory are all vital for a company’s success. One essential component of inventory management is understanding and calculating inventory carrying costs. In this blog, we’ll explore what inventory carrying costs are, why they matter, and how to calculate them effectively. Understanding Inventory Carrying Costs Inventory carrying costs, often called holding cost ..read more