Accounting Cost of Goods Sold in Manufacturing – How to Calculate COGS The many cost-oriented KPIs in manufacturing accounting constitute some of the most important financial metrics for manufacturers and distributors. In this post, we look at the function and relevance of one such KPI – the Cost of Goods Sold. By Mattias Turovski 8 min read
Manufacturing TipsProduction planning Make-to-Stock Manufacturing Workflow and Best Practices Make-to-stock (MTS) is a manufacturing workflow that uses the push system. This means that goods are produced to stock by “pushing” them through the supply chain according to anticipated demand. In this post, we will look at the pros and cons as well as best practices for utilizing MTS. By Mattias Turovski 8 min read
Manufacturing TipsSupply Chain Procurement Planning – A Simple Guide A thoroughly planned procurement process helps to ensure that a company’s purchases arrive in a timely manner and in the right quantities, from the best vendors and with good prices. A well thought out procurement plan helps businesses stay in control of the product manufacturing cycle and avoid last-minute surprises. By Mattias Turovski 9 min read
Manufacturing TipsProduction planning Make to Order and Assemble to Order Manufacturing Workflows Make-to-order (MTO) and assemble-to-order (ATO) are manufacturing workflows that use the pull system, meaning that production starts when an order comes in. As such, they are mostly used by companies that manufacture customizable products. In this post, we go over their differences, pros and cons, and production management considerations. By Mattias Turovski 7 min read
AccountingInventoryManufacturing Tips Inventory Valuation Methods – Finding the Right Approach For the financial departments of manufacturing companies, few things are as important as inventory valuation. Due to the effect on the gross profit of a company, choosing the right inventory valuation method is a crucial step in ensuring the financial health of your company. By Mattias Turovski 10 min read
Choosing a SoftwareManufacturing Tips What Is Lot Tracking and How to Use It? Lot tracking, also known as batch tracking, is an important process for ensuring quality, most commonly for traceability and recall purposes. It is a crucial part of doing business in highly regulated industries, but it has its advantages regardless of the product. By Madis Kuuse 8 min read
AccountingManufacturing TipsProduction planning Capacity Planning – An Essential Guide for Manufacturers Capacity planning is a strategic process aimed at determining the production capacity required to meet forecasted demand. It is a prerequisite for efficient production scheduling, supply chain planning, and inventory management. By Karl H Lauri 16 min read
News Week 24 in Manufacturing News Federal Reserve Officials Project Rate Increases in 2023; U.S. Opens $3 Billion Aviation Manufacturing Wage Subsidy Program; The Southwest Is Becoming a New Manufacturing Hub in U.S.; UK Manufacturing Growth Set to Double After Strong Covid Rebound. By Kelly 2 min read
News Week 23 in Manufacturing News Most Significant Industrial Policy Legislation in Decades Passed by US Senate; Investment Intentions of UK Manufacturers Revealed in New IBM Survey; Majority of UK Manufacturers Prioritising Flexible Energy Models in Post-pandemic Recovery; Finally, Venture Capital Wakes Up to Innovation in Manufacturing. By Kelly 2 min read
News Week 22 in Manufacturing News U.S. Manufacturing Thriving Amid Supply Bottleneck; Record Manufacturing Jump Boosts Markets in UK, US and Eurozone; UK Manufacturing PMI Hits Record; House Prices Surge; Oil Rallies – as It Happened; Majority of UK Manufacturers Prioritising Flexible Energy Models in Post-pandemic Recovery. By Kelly 2 min read
News Week 20 in Manufacturing News U.S. Manufacturing Production Rises in April; US Manufacturing Technology Orders Totaled $437.85 Million in March 2021, Increasing 16.1% from February 2021; UK Manufacturing Sector Is Growing at Highest Rate Since 1994; German Factory Production, Exports up in March in Good Sign. By Kelly 2 min read
News Week 19 in Manufacturing News Preparing for an American Manufacturing Renaissance; UK Manufacturing Production Jumps by 2.1% MoM in March vs. 1.0% Expected; German Manufacturing Demand Soars, Challenged by Supply Constraints; The Australian Budget: What’s in it for the Food Sector? By Kelly 2 min read
