Material management is a key factor for controlling costs and optimizing production flows. The different materials - raw materials, work in progress (WIP), semi-finished products, finished products - are an immobilization of important capital for each company and must enter the production flow following precise policies - LIFO, FIFO, etc.
Furthermore, the visibility of materials' availability during the planning phase helps to execute the orders when a factory is actually sure of the present and/or future availability of materials. For some types of industry - such as assembly-to-order production (ATO) - the availability of semi-finished products must go hand in hand with the reduction of stock in order to find the right balance between customer service and the immobilization of materials. Policies and targeted actions can lead to the creation of true competitive value and success in the global market.
At Hyla Soft we are aware of the importance of material flows, the management of warehouses, and the reduction of stock to improve production flows, and we have treasured our various experiences around the world.
A well-structured warehouse which allows the availability of the right material at the right time is an added value for the entire supply chain; more generally, inventory management is essential because it can represent between 20 and 60 % of an organization's investments.
As already mentioned, various inventory policies can be updated and the software implemented can vary. At Hyla Soft we believe that the value of an IT system must be at the service of different functions, reducing the possibility of errors and the manual management of individual lots as much as possible.
Some key features include:
The traceability of production lots is a strength of IT systems today; these functions provide a company with a view of each lot's material flows, significantly increasing visibility for management and ensuring the possibility of finding the destination of the materials in each phase of the supply chain.
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