@AuManufacturing has partnered with the upcoming Modern Manufacturing Expo in Sydney in September, which will showcase software designed for Australian manufacturers. Here we profile the enterprise software innovations of Australian software group MYOB.
Many manufacturers focus primarily on the production and output aspects of their operations – making sure all the nuts and bolts are in place to produce high quality products for their customers.
However, effective financial and business management and ensuring effective value for money are equally crucial to the success of a manufacturing business.
Valantis Vais (pictured), MYOB Head of Product – Enterprise said business management solutions are often overlooked when manufacturers consider how best to scale their operations.
Vais said, “In 2020, we expanded our enterprise product portfolio with the addition of MYOB Advanced Manufacturing – a cloud-based enterprise resource planning (ERP) solution that connects every part of your business end-to-end. tip, providing complete visibility and enabling better decision-making. -manufacturing to drive business growth.
“We were inspired to launch this product after observing a clear gap in the market to deliver the specific functionality and capability needed to support mid-sized local manufacturers, particularly in the discrete manufacturing sector.”
Vais said MYOB’s platform was designed for ambitious makers who have outgrown their current solution and are struggling with a number of rather common, but not insoluble challenges.
“From time-consuming manual processes or data entry, to the lack of real-time information to help inform decisions, to the difficulty in keeping up with significant customer growth based on their current system.”
Outdated systems hold manufacturers back
MYOB’s research has shown that many local manufacturers are knowingly missing out on opportunities to grow their business because their current systems aren’t up to snuff.
Results from the “Seizing Advantage” study conducted in partnership with Forrester Consulting revealed that more than 3 in 5 companies surveyed in the A/NZ region indicated that their systems had prevented them from taking on larger customers.
In addition to poor customer management, there are a series of manufacturing-specific challenges that enterprise software helps solve. These include:
- Continued supply chain disruption
- Delays the supply of raw materials used in production, which impacts customer delivery times
- And higher manufacturing costs caused by fuel price increases.
Vais said, “In the past, manufacturers may have chosen to absorb periodic cost pressures, but given the increasing frequency of change and volume of challenges they face today, that becomes more difficult.
“We are also hearing from manufacturers that there is some trepidation about raising prices for fear of being seen as uncompetitive.”
Vais points out that this is why the granular visibility into key workflows that is enabled by enterprise software is so important.
“Having this information up-to-date when you need it is key to being able to truly assess supply, production costs and job-by-job profitability.”
An ERP solution that provides visibility and efficiency is vital for any manufacturing business. He ensures that bills are paid on time, accounts and loans are in order, financial statements are accurate, budgets are prepared and payroll obligations are met.
With MYOB Advanced Manufacturing, companies can integrate their production planning, financial management, CRM, inventory management, and sales orders to access real-time visibility across the entire operation.
When combined with MYOB’s Advanced Payroll offering, manufacturers have a centralized payroll and labor management system working in sync with ERP on a single integrated cloud platform.
Increased profitability through a better understanding of supply and demand
Balancing supply and demand is a crucial part of any business, but it’s often an issue that manufacturers struggle with, especially in times of increased demand, as the local market is currently experiencing.
“Our software streamlines this process by allowing manufacturers to access production details in a central area. With this simple feature, resources, budgets and production planning can be easily managed,” Vais said.
“In the fast-paced world of modern manufacturing, our software recognizes that advanced manufacturers prioritize flexibility.
“The ERP integration allows users to automate their production schedules with the flexibility to recalibrate their plans to meet high priority customer orders.
“Meanwhile, real-time data visibility also helps manufacturers respond quickly to disruptions, accelerate decision-making, and respond immediately to costly delays.”
Vais said access to accurate and timely information can truly change the way business is done for the better.
CEO of the International Exhibition & Conference (IEC) group, organizers of the Modern Manufacturing Expo in Sydney in September, Marie Kinsella said that true modern manufacturing requires truly modern business and enterprise management software solutions, designed by a local company that deeply understands the unique requirements of the industry.
“That’s why we’re thrilled to have MYOB on board as a gold sponsor at the show.”
Kinsella said the Expo was a collaborative effort to advance Australian manufacturing, recognizing that increased automation and the implementation of advanced manufacturing techniques have a ripple effect in terms of production and business productivity. .
“It’s a positive, but it will put pressure on administrative systems and internal processes. These are often the last to be considered before technology and innovation.
“The involvement of companies like MYOB in helping manufacturers through this transition is truly positive and we look forward to their contribution to Expo.”
The Modern Manufacturing Expo will take place from 20-21 September 2022 at the Sydney Showground, Sydney Olympic Park, Homebush. It is designed for key decision makers and management looking to explore the latest automation and digital offerings for future growth and presents a showcase of technological advancements towards innovative operational practices for manufacturers. Free registration for the exhibition here. For further information: Margo Metcalf IEC Group, [email protected] or 03 95969205.
Photo: MYOB/Valantis Vais