Manufacturing needs an inventory management software that can provide an accurate cost for finished goods. Get clear visibility of your profits and margins for your manufacturing business today.
A manufacturing company deals in goods and hence inventory is of critical importance. Whether a small business or a multinational corporation, inventory management is a crucial function for a manufacturing business. There are multiple aspects to inventory management. You have to track your inventory in various stages of production; you have to decide how much inventory you will stock at any given time; how much to order, when to order, and how frequently to order. To arrive at these decisions, you need to consider various internal and external factors like your production rate, warehousing facilities, time taken for vendors to ship and deliver, whether to order locally, nationally, or internationally, consider the cost, and of course, allow for unforeseen circumstances like natural or manmade disasters. It can be overwhelming to do all of this manually. This is why you need an inventory management software for manufacturing like Tranquil. It can help you streamline operations, reduce cost and boost productivity.
Stay on top of every job from first contact to final invoice, and everything in between
Allocate and notify the right person for the right job, with a simple drag and drop.
Take complete control of your inventory, no matter where it’s located.
Track every project / job cost – labour, materials, expenses, supplier orders all in real-time.
Tranquil inventory management software is perfectly suited to businesses in the manufacturing industry who require an accurate finished goods cost. Product assemblies, costed purchase orders, multi-currency, and advanced reporting are just a few of Tranquil’s powerful features which make this possible.
Pre-builds can combine materials and labour, materials only, or labour only as a single billable item to appear on jobs, quotes and invoices.
Tranquil Online inventory management software lets you seamlessly split sales into multiple shipments. Get what you do have out the door to the customer, and simultaneously order the balance. Ship the remaining items when you’re ready to complete the sale at a later date.
Inventory kitting, also known as ‘product bundling’, is the process of grouping, packaging, and selling usually-separate items together.
A Bill of Materials can be considered to be the recipe or DNA of a particular product. Multi-level BOM is a critical manufacturing ingredient when numerous sub-assembled are required in the production of finished products. This feature helps you configure your operation with smooth production flow so that your production is not impacted later. You can identify the optimal manufacturing path, and optimize the management of your manufacturing inventory. multi-level BOM enables you to have more details on the sub-assemblies and parent in the product, and the relationship between the sub-assemblies and the manufactured product. It also helps in avoiding errors when dealing with sub-assemblies – a crucial factor when your business is scaling.
This feature of our production management system facilitates the allocation of various resources like raw materials, employees, funds, and equipment, as well as processes to the various products you manufacture. Achieve efficiency and cost-reduction in the manufacturing process, boost productivity, and deliver products on time. While you can do this manually, you may commit numerous errors that will ultimately lead to chaos. Our software helps make your processes agile.
This feature allows you to accelerate your manufacturing process by identifying the raw materials, components and subassemblies required, and by determining the time to assemble the finished goods based on the BOM and demand, by considering what, how much, and when it is required. This way you can ensure sufficient inventory to meet demands of production and sales, and avoid excess stocking which leads to high carrying costs. Material planning also ensures that you don’t lose sales or disrupt production due to unavailability of raw materials.
The production calendar allows you to list all the activities, like for example, each sub-assembly, that are to be carried out on specific days – rather like the time tables in schools. It helps you to assess your manufacturing of finished products. You can specify which stage of the production is to be completed by what date, so that you know when you are expected to complete a specific element of the production, and can easily track the progress of your production process.
Thanks to increased digital adoption, nearly every product has a barcode. Barcodes contain information about a product like description, price, expiry date, and so on. Thanks to barcode integration in our production management software, items can be easily scanned and automatically recorded in the system. Print straight from your ERP database or any other data source and minimize label errors, misprints, and time and effort required for data entry to generate labels. It provides increased visibility into inventory, as products can be scanned when they are received, stocked, picked, shipped, etc. Employees can quickly send information to your database, confirm shipment information, conduct product lookups, and even search for inventory in different locations.
National and international compliance requirements are increasing and becoming more stringent. A robust inventory management software for distribution and production like Tranquil can help you maintain compliance with regulatory requirements. Tranquil collects and organizes your business data systematically and accurately, empowering management to make informed business decisions. Real-time accurate data helps you in getting a clear picture about the financial health of your company. Tranquil ERP also helps you to track and trace products, so that in the unfortunate event you need to recall products due to some defect, you can do it smoothly. Centralized inventory control is possible with Tranquil, so that there is standardization in almost every area.