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Kathy Barthelt
/ Categories: Infor LN & Baan Tips

Tip of the Week: 8 Common-Sense Rules for Inventory Management

Common sense rules. We may not like them, but generally, they stand the test of time and should be followed. Here are 8 common sense rules related to inventory management published by Inbound Logistics back in 2007. They still hold true today. 

1. If you don' t know where you are going, no road will take you there. Enterprise resource management systems are designed to tell you about today' s inventory. With some work, you can also access information about past inventory. To manage inventory proactively, however, you must know projected inventory levels for the future.

2. Make what you can sell. An integrated Sales and Operations Plan will naturally take into account expected demand in its production plan. Inventory is not an independent variable - it is the direct result of demand and supply.

3. Sell what you can make. Too often, a disconnect exists between sales and marketing desires and the reality of production capabilities.

4. If you can' t sell it, stop making it. If demand for your product does not materialize, you need to identify that gap quickly to avoid a buildup of non-moving inventory. Numerous mechanisms can be put in place to identify such trends.

For tips 5 through 8 and more details into the other tips, click the button below to read the full article.

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Kathy Barthelt

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Tips:  LX | BPCS | M3

Two big sources of inefficiencies in manufacturing are paper and spreadsheets. I know that you love ‘em, but they are the cause of more problems than you probably realize. Think of how long it takes you to get paper based data into the hands of those who can do something valuable with the data.

  • Is the information captured correctly?
  • Can everyone access the information?
  • Is this an accurate representation of what’s going on across all operations?

Make your shop floor paperless and put systems in place that talk to one another and automatically pull and push data to and from your ERP so that you can look in one place for all the information you need to run your business effectively.

If you’re not doing this today, you might as well be burning money.
 
Optimize Your Manufacturing Today!

In LX 8.3.5, a new report has been added that meets the regulatory reporting requirement for purchase and sales transactions (invoices, debit notes, credit notes) of a company. The report refers to transactions from the previous year (January – December). The report is available in an eFile layout.

The enhancement provides a new display and batch programs to extract the data and format the reports. New logs are provided in addition to the extraction report.

This enhancement will assist the user in meeting the regulatory requirement for reporting transactions.

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Tips: LN | Baan

All actions required for converting, validating, matching, and posting electronically received bank statements can be performed within a single session:

  • Bank Statement Workbench (tfcmg5610m100)
  • Bank Statement (tfcmg5610m000)

Alternatively, you can use the sequence of electronic bank statement sessions outlined below.

Steps to Process Electronic Bank Statements:

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