At the end of any period, it is critical to be able to measure how your business did and to have the ability to report those findings to various people, both inside and outside your organization. Accurate reporting requires a precise record of exactly what happened during a given period. Projections for future forecasts also rely on accurate reporting. That can greatly impact the bottom line of your business’ profitability and the trust your stakeholders have in the reliability of your data.
In discrete or assembly manufacturing, there is little or no variance in production outputs. Therefore, anything out of the ordinary is easy to identify and simple to explain. But characteristically of formula or batch manufacturing, you will often deviate from the plan. It may be that you are making adjustments for quality control reasons or that you are simply trying to account for the variable yields. You might have planned for your original batch to make ten units. However, you may have actually only produced nine. Whatever the case may be, batch yield variation is normal in our line of business. Unfortunately, such variability limits predictability, which can create a barrier to trust.
For this reason, you need an ERP solution that can handle variability. It is crucial for that solution to be able to:
- collect exact usage data
- account for known adjustments
- record actual finished production quantities
Only then can you truly measure the yield of any batch and generate accurate reporting.
How Can We Help?
By partnering with Vicinity, we enhance your capabilities for accurate reporting and save you the time and guesswork of matching your ins and outs. More reliable and complete data will help build trust with customers, vendors, and consumers of your reporting efforts.
Contact Vicinity today to learn more about our solution and how we might work together!