Every company needs to look at their financial analytics to ensure they are indeed making a profit and staying on the right path, but manufacturers need to be questioning and looking at much more than that and require analytics for many parts of the entire process. You need to make sure that your executives are seeing the reports they want but also the Buyers, planners, and shop floor leads, also have questions they need answers to and reporting they should take into consideration. Your ERP system has all of the data you need, but are you asking the questions? are you using the data in your ERP system to provide meaningful and useful information in your reports?
11 manufacturing questions your ERP system can answer:
- Are your suppliers delivering when needed?
- Are purchased materials meeting quality requirements?
- What are the lead times from purchase to receipt? Are they short? Can they be shorter?
- Are you within your budget?
- Inventory turnover- is your product moving? What do you need to change?
- How often are your products being rejected?
- Why causes product rejection?
- Throughout time
- Are activities completed on schedule?
- Are you fully utilizing capacity of your machines?
- Are you delivering on-time more often than not?
There are many more questions out there that can be answered with the data in your ERP system. What else can you add to this list?