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Frank Petrasio
/ Categories: Infor ERP Tips, Infor M3 & Movex Tips, Support, Training & Workshops

M3/Movex Tip of the Week: Year-End

​Year-End is always a busy time!

So busy that it's easy to forget things that must be done in your ERP system to close out the year properly and set you up for a good start to the following year. Here are some things to add to your to-do checklist.

The year-end close process provides an opportunity to:

  • Remove discontinued items.
  • Remove sold purchase receipts.
  • Remove lot attributes for sold lots.
  • Update standard cost based on current cost field. (for environments without Manufacturing only)
     

Prepare for Year-End Close

  • Conduct full physical inventory and update quantities before actual year-end or establish a strong cycle-counting program.
  • Check for any applicable sales and purchase invoices/returns and post.
  • Prepare users for a year-end push to complete all year to date inventory adjustments, receipts, and invoicing.
  • Determine how to handle new year transactions without posting.
  • Determine what new standard costs should be entered for the upcoming year
  • Discuss cutoff dates for removing Archived BOMS and Closed/Canceled Mfg Orders
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Tips:  LX | BPCS | M3

Just a refresher on a tip I’ve shared previously from Supply Chain Technology Bulletin regarding how to attain greater inventory accuracy. I thought it would be worthwhile to share again:

  • Record data regarding your inventory as soon as the items arrive at your door / receiving dock. With information, you can make decisions. Without it, you waste money, time and effort.
  • Leverage data collection, label generation and RFID solutions to make your life easier.
  • Set inventory accuracy goals for the business and for employees.
  • Train your employees so they know what is expected of them, and how to best perform their job and therefore how best to maintain accurate inventory counts.
  • Count the inventory – and do it regularly. Find a method that works best for your employees, and for your business.

Optimize Your Manufacturing Today!

Read more

Employee empowerment is important if you want to retain the skilled workforce you have and attract new talent.

Here are 5 ways you can motivate your employees to give their best every day

  1. Train your employees
  2. Give your employees the right tools
  3. Automate processes
  4. Give your employees real-time feedback
  5. Provide incentives to do more

Can you do it? Of course you can!
You don’t have to do it all by yourself. Companies like Crossroads RMC can assist. We provide training services which can be completely tailored to your business. We also provide software solutions to help automate many of your manual processes, and dashboard solutions to provide real-time feedback on performance.

If you choose to do this, the benefits to your company will be amazing. You will have a happy, loyal and prepared workforce, ready to come to work each day to make the company wildly successful.

Optimize Your Manufacturing Today!

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Tips: LN | Baan

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