Tech transformation for manufacturers: Future-proof and thrive

Streamlining, data access, cost control and other business management benefits for manufacturers.

Striking the right balance is essential in manufacturing. This includes knowing where, what, and when to invest. Crucially, investing in technology is vital for staying competitive, streamlining operations, and boosting productivity and efficiency.

Our recent research confirms a strong appetite for innovation within the Australian mid-market sector. Over the next five years, businesses are eager to pursue growth, increase productivity, and achieve greater efficiency.

The study also revealed that:

• The majority of business leaders surveyed recognise technology as the key to unlocking these benefits.
• More than 30% of businesses plan to invest between $200,000 and $500,000 in innovation over the next 12 months.

Despite this drive, too many manufacturers still rely on manual, paper-based processes or outdated software to manage staff, workflows, and inventory. This can lead to slow processes and a higher risk of errors.

As a result, more manufacturing businesses are turning to cloud-based business management platforms. The right system can address your current challenges and pave the way for sustainable growth. An adaptable solution will streamline your inefficient processes and resolve many of the challenges facing your business.

Introducing MYOB Acumatica Manufacturing — a game-changing ERP solution designed to revolutionise operations and future-proof businesses.

Harnessing the power of real-time data

MYOB Acumatica Manufacturing offers unparalleled insight into every facet of your operations.

From sales to materials management and production, the platform provides real-time data crucial for informed decision-making.

By capturing total manufacturing costs and facilitating precise planning, MYOB Acumatica Manufacturing empowers manufacturers to optimise efficiency and maximise production value.

Tailored features for manufacturing excellence

At the core of MYOB Acumatica Manufacturing lies a suite of features designed specifically for the manufacturing industry.

Seamlessly integrating manufacturing, inventory management, and accounting, the platform ensures a smooth flow of operations.

Before MYOB Acumatica Manufacturing, technology company Connec Operations required regular stocktakes just to update the balance sheet, a time-consuming task. 

Using spreadsheets to track inventory made it hard to keep on top of the latest version and relied heavily on manual data entry. 

Now, “the stock goes in, and it goes out, and we’ve got automatic warnings for when stock is running low. Our balance sheets are updated in real-time, which also means our reporting is accurate”, a fact that will help propel the business forward. 

With MYOB Acumatica Manufacturing, you can effortlessly manage raw materials, track production revisions, and maintain financial clarity throughout your manufacturing processes.

The future of manufacturing management is now

By leveraging cloud-based infrastructure, MYOB Acumatica Manufacturing delivers unparalleled agility and competitiveness.

The result?

You can confidently navigate market shifts and emerging trends, secure in the knowledge that your operations are future ready.

Key features driving manufacturing success:

• Comprehensive Financial Control: MYOB Acumatica Manufacturing provides robust financial management tools, including GST handling, ensuring complete control over financial aspects.
• Integrated Management: From lead and supplier management to distribution and stock control, MYOB Acumatica Manufacturing enables seamless collaboration across departments and locations.
• Enhanced Automation: Utilise mobile devices for data capture and access, facilitating real-time insights and agile decision-making on the production floor.
• Diverse Functionalities: Explore a range of features such as CRM integration, fixed asset management, project-based accounting, multi-company consolidation, and customisable workflows.

Bill of materials and routing:

• Integrated Material Management: Seamlessly connect materials, work instructions, and overhead costs to operations, enabling time-phased release of materials.
• Comprehensive Bill of Materials: Enjoy the flexibility of multiple levels of bill of materials for both engineering and costed views, with cost calculations available at average, standard, and actual costs.
• Precise Cost Calculations: Factor in tooling costs and overhead costs, including both fixed and variable components, for accurate cost assessments.

Production management:

• Holistic Cost Capture: Capture total manufacturing costs comprehensively, encompassing material, labour, machine, tool, overhead, and outside processes.
• Flexible Scheduling: Employ multiple scheduling options, including forward and backward manufacturing scheduling methods, to optimise production timelines.
• Performance Monitoring: Utilise detailed reports to monitor and manage performance, comparing actual costs against standard/planned costs across various elements.

Material requirements planning (MRP):

• Supply and Demand Visibility: Gain a comprehensive view of all supply and demand dynamics, with the ability to create production and purchase orders directly from the planning screen.
• Multi-level Planning: Employ full multi-level planning to ensure all requirements are met, enhancing operational efficiency and smooth production operations.
• Detailed Planning: Enhance manufacturing resource planning by planning every requirement for every item without ignoring critical details.

Product configurator:

• Efficient Order Creation: Streamline order creation by copying or modifying existing configurations, maintaining a history of revisions and pricing roll-up capabilities.
• Revision Management: Make multiple revisions of configurations while preserving a detailed history of changes.
• Accurate Pricing: Determine actual unit prices based on chosen features and options, ensuring transparency and accuracy in pricing.

Estimating:

• Comprehensive Estimation: Prepare estimates for existing or custom items, from simple summaries to detailed estimates using bill of material structures.
• Revision Tracking: Maintain a history of revisions and creators for each estimate, facilitating accurate estimation of labour, material, and overhead costs.

The manufacturer’s advantage with MYOB Acumatica Manufacturing:

MYOB Acumatica Manufacturing is not just a software solution; it’s a strategic investment to unlock excellence throughout your operations:

• Informed Decision-making: Swift decision-making with drill-down capabilities.
• Increased Efficiency: Streamline processes to boost productivity and resource utilisation, driving operational excellence.
• Simplified Financial Management: Navigate multi-entity workflows effortlessly, promoting efficient financial oversight.
• Enhanced Planning and Coordination: Simplify product management and track designing/assembling activities with precision.
• Data Visibility: Gain deeper insights into your financials, fostering informed decision-making.
• Supply and Demand Optimisation: Respond effectively to market changes while optimising inventory and resources for cost control.
• Quality Control: Ensure quality control measures are tracked at every stage.
• IT Simplification: Minimise IT complexity and costs.

Harnessing the cloud’s potential:

In addition to the core benefits of MYOB Acumatica Manufacturing, its cloud-based architecture offers some critical advantages, especially when it comes to cybersecurity. As part of our mid-market report, three in five mid-market businesses reported that they had experienced a cybersecurity attack or incident.

You can mitigate the risk of server-based attacks with secure cloud storage solutions, while enterprise-grade security and data backups safeguard vital information against threats.

In addition to better cyber security, cloud-based web accessibility means you have access to critical information anytime, anywhere, which means more informed decision-making and operational flexibility. Remote access capabilities mean you have enhanced monitoring of financial and productivity metrics.

Is MYOB Acumatica Manufacturing the right fit for you?

When considering an ERP system, numerous factors come into play, including features, functionality, cost, support quality, and availability.

For manufacturers, MYOB Acumatica Manufacturing emerges as a compelling choice, particularly for those engaged in discrete manufacturing and batch processing.

MYOB Acumatica Manufacturing streamlines supply chain management processes from production to order management, making it an ideal solution for those seeking efficiency and scalability.

Sergio Correa, Managing Director of DAABON Organic Australia, attests to the transformative impact of MYOB Acumatica Manufacturing: “We could not have achieved this level of growth and efficiency without the streamlined processes and real-time data we now have thanks to MYOB Acumatica and BusinessHub.”

Ready to transform your business?

In a competitive market and a challenging industry, it’s essential to equip yourself with the right tools.

MYOB Acumatica Manufacturing is just that — a tool to help you navigate challenges, reduce inefficiencies, and maximise performance in your manufacturing business.

Access your financial information, payroll, staff management tools, inventory, and other operations systems through one simple cloud portal.

Information flows freely between different systems and customisable dashboards let you see key data at a glance.

When you choose MYOB Acumatica Manufacturing, you’re choosing an ERP technology partner with over 30 years’ experience across Australia and New Zealand. 

If you’re ready to step up, so are we. Click here to speak to an expert and we’ll demonstrate a solution based on your needs.

A version of this article was originally provided by BusinessHub, the current MYOB Manufacturing Partner of the Year and four-time Excellence in Customer Experience Award winner.

---

Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.