A make-to-stock manufacturing company that builds discrete products for inventory faces key business challenges.
In this environment, finished products are manufactured and shipped based on demand forecasts issued by the customer base.
A streamlined operation depends upon accuracy and timing of the demand forecasts. The make-to-stock manufacturer must optimize their processes to prevent excess inventory and opportunity loss due to stock-out.
What’s the most efficient method for a company to accurately forecast demand?
Today’s modern ERP system offers specific features and functions to manage production, demand planning, inventory management and other mission-critical operations. Automated systems help a company improve efficiency by using real-time demand data to set safety stock, optimal production, and ordering points based on lead times of material procurement, production, and delivery as well as demand forecasts.
The ERP system must help with business process improvement in the areas of sales forecasts, promotion pricing, demand planning, production forecasts, scheduling, inventory and more.
When a make-to-stock manufacturer enters into an ERP selection project, it’s critical to review the specific systems that best manage demand forecasting.
Many ERP vendors tailor their systems to offer robust features, especially in the area of automated demand planning, product production forecasts, inventory, production, and raw material requirements. Throughout the process, each step should be done with workflow in a paperless environment.
Resource for Make-to-Stock Companies
To help make sense of ERP systems that address these forecast and demand functions, take advantage of Ultra’s upcoming ERP Vendor Webinar series.
You’ll hear directly from top ERP vendors to see what’s possible with modern ERP as it relates to make-to-stock manufacturers. The can’t-miss presentations feature SAP, Oracle, Microsoft, Infor, Epicor and other top vendors.
The no-cost, no-travel demo series is perfect for an active ERP project. Attendees gain access to archived on-demand recordings and can then share the demos with the entire ERP selection team.