IQReport March 2018
Use Opportunity Costs to Improve Manufacturing Performance
Bottom Line: Knowing the opportunity costs of trade-offs makes it possible to more efficiently grow revenue, improve quality and flex to customers’ short-notice production runs.
Opportunity costs are invaluable for evaluating how a potential decision is going to improve production efficiency, productivity and profitability.
Opportunity cost is defined as a benefit that could have been received but was given up to take another course of action. How does this apply to manufacturing cost performance?
In a recent Automation World article, Larry White and Anton van der Merwe explain how changes based on opportunity cost can improve efficiency and profitability. Click here to read the complete Automation World article to learn how to use opportunity costs to improve your manufacturing performance.
Combining ERP and IoT to Fuel New Revenue Growth
Internet of Things (IoT) technologies, software, and systems continue to gain adoption across manufacturing to meet the increasingly complex, urgent needs manufacturers have for real-time monitoring. And, manufacturers are also quick to adopt new Enterprise Resource Planning (ERP) systems modules, and entire platforms to enable their businesses to be stronger, more scalable global competitors.
The integration of IoT sensor-based data with the business intelligence of an ERP system can provide a powerful architecture to gain valuable new insights into each step in the supply chain, production, and fulfillment processes.
Webinar: 5 Ways to Get Results From Your Quality Management & Compliance Systems
Looking to drive greater results from your quality management system? Then this webinar is for you. On Tuesday, March 27th from 11:00 to Noon Pacific Time, join IQMS Principal, Louis Columbus and Betty Leonhard, Quality Engineer at Deluxe Plastics to learn:
- How to implement a quality management system
- Set product quality goals
- Identify quality management metrics and KPIs
- Measure progress toward their attainment
IQMS Identified as a Top MRP Provider
IQMS is pleased to have been recognized by Capterra on the list of Top 20 Most Popular Material Requirements Planning Software
The Top 20 Most Popular Material Requirements Planning Software is an independent assessment by Capterra, a Gartner company, that provides a leading free software discovery and reviews platform. The list was developed by measuring the number of customers and users for each MRP provider, as well as each company’s social media presence. Additionally, Capterra includes independent reviews by users. The Top 20 Most Popular MRP Software report is available at https://www.capterra.com/mrp-software/#infographic.
Best Practices for Optimizing the Production Scheduling Process
Scheduling your shop floor to maximize production capacity while meeting fluctuations in customer demands is a complex process. There is a constant challenge to synchronize the availability of equipment, tools, materials, workforce, and vendors to meet customer deadlines.
How can production teams "Improvise, Adapt and Overcome?
Download the whitepaper, Best Practices for Optimizing the Production Scheduling Process, to learn more about the coveted tools and best practices used by three manufacturers to boost production scheduling efficiency, cut costs and increase plant capacity. Download Now!