Many businesses in process manufacturing and distribution rely on manual data entry, spreadsheets, and extensive paperwork to stay on top of their inventory. Instead of transitioning to modern software systems that offer real-time inventory, full visibility into their raw materials and output, and streamlined workflows that help enhance productivity, efficiency, and performance, they instead choose to stick with what they know.
But in a fast-paced, increasingly competitive marketplace – where many of their peers are digitizing operations – the question is, can they afford to resist?
Effective inventory management is the cornerstone of any manufacturer or chemical distributor’s business. Keeping on top of all their transactions and being able to track and manage product is essential to meet demand, manage customer expectations, and deliver on time and in full.
The barcode inventory system remains the most common of the asset tracking technologies. Today, some 70 years since its invention, over 90% of companies still rely on the humble barcode because of its low cost, accuracy, and versatility.
The ubiquitous barcode consists of a series of numbers and vertical lines of varying thicknesses to create a machine-readable code. A more modern version called a QR code is also becoming far more commonplace. Data is accessed using a scanner, tablet, or smartphone and allows users to quickly and easily access information about a product and keep track of inventories and deliveries.
Enterprise resource planning (ERP) is a type of software that helps businesses organize and manage daily tasks and processes, ranging from procurement and supply chain operations to customer relationship and compliance. ERP is an essential tool for industrial manufacturing, helping users stay on top of their orders, inventory, and finances.
Material Requirement – or Resources – Planning (MRP) is essentially about demand planning. Computer-based MRP reporting can forecast how much raw materials a company needs to make the volume of product it expects to sell to customers.
Chemical and process manufacturers need to purchase chemicals to produce products for nearly every industry sector worldwide — from agriculture to automotive to pharmaceuticals and cannabis. Establishing a clear chemical procurement procedure can help your company stay compliant, streamline operations and better serve customers. But where do you start?
For any organization that stores on-site chemicals, one thing is crucial: a reliable chemical inventory management system. But creating and maintaining an accurate chemical inventory can be more difficult than it sounds, and without this, your business can suffer.
