How does MYOB Advanced fit the bill for make-to-order manufacturers?

Making or assembling products to order in a market where demand is unpredictable requires agility and efficiency. This post explores why MYOB Advanced is ideal for manufacturers embracing a digital transformation.

Being in the business of producing finished goods is wrought with challenges. Especially when those goods are potentially produced a lot cheaper overseas. Or when input and energy costs continue to grow, or you’re struggling to find skilled staff.

Strategically, running an order-based production environment can limit your risk of holding too much inventory and makes it easier to implement lean manufacturing. Make-to-order and configurable manufacturing businesses also have a competitive advantage in the local market because they understand Australian customers better.

But whether you’re a small job shop or a large discrete manufacturer, continued success will rely on cutting lead times and operational costs.

Both outcomes are better achieved when manufacturers embrace technology. A potent combination that has emerged for digitally-savvy Australian manufacturers is MYOB Advanced.

Australian manufacturing is competitive: your business needs to evolve

Activity levels in the Australian manufacturing industry in early 2019 suggest the outlook for manufacturers is positive, although business margins remain tight and there’s sluggish growth in new orders.   

When the Australian Industry Group surveyed industry CEOs about business prospects in 2019, most said they expected further growth. However, one-quarter of respondents thought their business conditions would deteriorate this year.

CEOs said 2019 was a year to focus on improving sales of current products while also reducing operational costs. To do so, their highest priorities include improving employee capability and investing in new technology and R&D.

Your digital strategy matters—how well you leverage technology will influence the level of efficiency and customer experience gains you can make, especially if you want to get more from your current employees in order to limit labour costs.

A recent survey of more than 1000 small to medium businesses across Australia revealed more than a third are hampered by ineffective adoption and integration of digital tools—and manufacturers were over-represented in this category.

In comparison, the SMBs with a more advanced approach to digital had a 44% higher average revenue per employee and saved double the amount of time each week.

Integrated enterprise solutions that link and streamline every part of your operation can help you adjust to ebbs and flows and empower your team to meet customer expectations more quickly and effectively.

Why MYOB Advanced is a winning combination for MTO manufacturers

New-age manufacturing might include cutting-edge equipment or robotics. But it’s also about rethinking the way you coordinate processes and people—enabled by digital communication, collaboration, and automation—to boost performance.  

That’s why an Enterprise Resource Planning (ERP) solution makes so much sense for growing make-to-order, make-to-stock, and configure-to-order manufacturing companies.

Cloud-based ERP systems with rich functionality can give you complete oversight of your operation, help you maximise your resources, and creates a centralised data repository that can be used by every business area to guide improvements and smarter decisions.

But which ERP is ideal for manufacturers of configurable products and both simple and complex assemblies? MYOB Advanced Manufacturing Software stands out from other solutions in this space.

MYOB is probably Australian businesses’ most trusted software provider. MYOB Advanced is the company’s enterprise solution: it goes above and beyond cloud accounting to give you a joined-up view of finances, customers, data, and operations across all parts of your business.

MYOB Advanced ensures production planning, job costing and scheduling of lines, equipment, and people can occur seamlessly.

MYOB Advanced Manufacturing has powerful features that enable:

• Strong and reliable forecasting.
• Material Requirements Planning (MRP).
• Multi-level Bill of Materials and routing.
• Tracking orders, materials, labour, machinery, and costs.
• Flexible scheduling to meet customer delivery dates.
• Traceability and barcode integration.

MYOB Advanced gives your make-to-order business the ability to meet demand more rapidly by getting your resources in order, pre-assembling items, and kicking-off production as soon as an order is placed. It also supports a master production scheduling approach.

Information and workflows pass smoothly between all modules of MYOB Advanced—one complete solution that gives you a clear view on how your manufacturing business is performing.

Both small, medium and large manufacturers should be investing in digital transformation if they expect to ride out the volatility and disruption impacting the industry. Flexible, niche and made-to-order manufacturing businesses can thrive with the right digital solutions on their side.

Could MYOB Advanced be the solution your make-to-order manufacturing business needs to become digitally ready? Contact us today.