The end of the financial year is the most critical time of the year. No matter much you have been trying to prepare for the same, organizations are always seen in hassle at this period. However, if you have been preparing for the same by not just working hard but working strategically on how to go about it, believe me, things can be different.
For people in the manufacturing business, things are even difficult because apart from handling just the paperwork, taxable things, and other stuff – manufacturers have to get the right stocktake done too. And this, for sure is not easy at all. Stocktake is the lifeline for the manufacturing business; it’s more of a something that decides turnover rates, cash flow, etc. Thus, keeping an eye over inventory and stock to better align your business strategies as per the real-time status and growth of your business is significant.
But, before you conclude the things with final counts of available inventory and stock, make sure that the number shown on your system matches the accurate inventory available. This is possible only if you have an efficient ERP Software for your business, capable of providing flawless data. SAP Business One is one such software that seamlessly integrates all business functionalities rendering you complete visibility across the business. Specially designed for small to medium-sized enterprises, SAP B1 makes daily challenges related to stock, inventory, and cost management way easier in manufacturers.
Let’s see how SAP Business One handles everything so well…
SAP B1 Boosts Work Efficiency
Annual stock count means you’ll have to rewind and replay to all the transactions that happen in the past days of the year and figure out if there are any discrepancies in the data. This may sound easy to do when you read this but, practically – it quite difficult to have accurate data with this practice.
SAP Business One, instead of coming into action in the last days of the financial year-end, works all day to make the counting and analysis easier. It runs cycle counting, which means counting a smaller proportion of stock available more frequently rather than counting lots once a year.
Similarly, rolling counts enable a seamless counting process with zero errors and even if there are any, it refines it and make it manageable.
Not just this, it even creates templates to make the regular counting process manageable is quite easy. Compares the data with the past one to analyze the cost-effectiveness, wastage and profits more clearly and renders the real-time reports and maintains up-to-date data in the system too.
If you see your manufacturing unit growing and reaching heights, it’s high time now to invest in an SAP Business One manufacturing system. Even you feel confident about the manual counting process, with the accurate count by your side, you don’t need to make a second trip of counting, or be unsure if the first one was correct. Not just the software, but the decision to adopt it in your organization is smart as well.