Technology is transforming the way we work. Innovative software and advanced systems are making manufacturing more integrated, more efficient and more profitable. And they’re consigning the old ways of doing things, like Excel, to the recycle bin. Well, that’s the theory at least.
Challenge #4: Product complexity
After all, you work in a complex business. Where final products may be assembled to order, the components you use to produce them are usually standardized. Of course, you can achieve a high degree of standardization by reusing subassemblies. Yet those subassemblies may well have to be planned and produced to stock, while the final product is only assembled to order.
See the 5 costing challenges in our free QuickGuide
So how do you stay in control?
Well, multi-level BOM support and advanced planning features such as MRP are a given. Clearly differentiating between order-controlled and stock-controlled assemblies also comes in pretty handy. As does the ability to accurately forecast ongoing requirements for standard components. So does Excel still have a part to play? Sure, it can keep bringing all the figures into a spreadsheet… but then what?
Excel: the pros
Excel lets you easily add additional tabs and spreadsheets for the entire production line, allowing you to incorporate multiple components, subassemblies and suppliers. And beyond the shop floor, it makes it simple to display financial information and data relevant to different departments like sales, marketing and even HR.
Excel: the cons
On the other hand, Excel doesn’t automatically update with the latest data, which means you have to do it manually. Make even the slightest mistake and it could cost you time, money and headaches down the line. Nor can Excel differentiate between order-controlled and stock-controlled assemblies, limiting the efficiency of your production planning and control.
Read our new QuickGuide for the whole story
Our new QuickGuide looks at everything in a little more detail, taking you through the 5 main costing challenges that face a modern manufacturer. The pros and cons of using Excel. And what a more effective solution should offer. And it’s all yours, completely free of charge.