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If you haven't done any accounting work, this might be a weird concept for you, but it's ubiquitous for manufacturing companies and service companies. Applied overhead is used not only for actual billing for products and services but also for estimating costs when looking to bid on projects or service contracts. This applied overhead cost is an ongoing, month-to-month cost that eliminates the fluctuations from heating costs in the winter to cooling costs in the [...]
January 26, 2021
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    Are you trying to decide between a perpetual vs. periodic inventory system, but you’re not sure which one is right for your business? These systems are accounting methods that allow you to keep track of the number of products you have available. Even in well-run companies, around 20 to 30 percent of inventory is obsolete or dead.  The right inventory management system can help you cut down on wasted inventory, making your business more profitable [...]
    January 26, 2021
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      ERP methodology is a type of management software that businesses and organizations use to manage day-to-day business activities. Enterprise resource planning (ERP) handles such activities such as project management, supply chain operations, accounting, risk management, and compliance. This software is useful to both small and large businesses alike.  Implementing an ERP system involves installing software that fits your company, transferring over your own data into the new system, and customizing the process so that your [...]
      January 26, 2021
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        Blog
        Do you need employees to perform specific processes in a consistent, measurable, and repeatable manner? Then you need to create Standardized Work Instructions (SWI) that employees can follow and team leads and managers can leverage to step in to assist if a step in the process needs help. SWI can streamline efficiencies in your manufacturing business. But writing straightforward, easy to follow SWI can be difficult. By following our process for how to write Standardized [...]
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        If you work in production, you've heard the term: Master Production Schedule. The Master Production Schedule, or MPS, is a plan for the production of individual final items. The MPS lays out the production plan to illustrate each stage's quantity to produce every final article. In this article, we will break down  MPS and how it is applied in manufacturing. Related: Mastering The Production Schedule Master Production Schedule Basics Here are some basic terms to [...]
        December 21, 2020
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          With every industry comes unique planning and scheduling challenges. When it comes to the food and drink industry, proper planning is the key to a successful business.  Within the food industry, many factors are at play. The culinary team has data about what food is needed daily. Following their guidelines, each business needs to plan food orders and delivery based on food expiration dates, preparation time for the food, and rotating menus.   Prodsmart is also [...]
          November 30, 2020
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            With how frequently the business environment changes, it’s essential to stay ahead of the game. Luckily businesses have a variety of tools at their disposal to help them with this. We all know how incredibly important the production stage is in the manufacturing process.  That is why now more than ever, businesses need to utilize production scheduling tools and production scheduling software to stay relevant in the various competitive markets.  Incorporating a manufacturing execution system [...]
            November 30, 2020
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              The Nestlé company has a market capitalization of over $304.1 billion and employs 291,000 employees. Launched in 1866, it has been a household name up to this day. However, even this Swiss-owned corporate giant isn’t immune to the financial and operational labor waste caused by manufacturing inefficiencies. To save over $2.5 billion by the end of 2020, Nestlé has been streamlining its manufacturing operations to cut down on inefficiencies for several years now. Nestlé has [...]
              November 30, 2020
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                Amazing Manufacturing
                The underlying principle behind lean manufacturing is relatively simple; to continuously eliminate as much waste as possible in the manufacturing process. Reducing waste plays a significant role in maximizing profits and minimizing expenses allowing companies to become more competitive.  The lean approach focuses on capitalizing on a company’s resources to eliminate or minimize losses in effectiveness and efficiencies that would otherwise lead to stunted production. These wastes include everything from project management tools for manufacturers [...]
                November 18, 2020
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                  Manufacturers today are exploring ways to deliver a successful MES project as an integral part of their production. The right MES is capable of providing various industries with essential improvements in a variety of ways.  Various organizations develop and utilize an MES (Manufacturing Execution System) to track and monitor manufactured goods within production and manufacturing. As a result, it ensures the effective execution of processes and operations. A comprehensive system such as MES maintains order [...]

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