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What is your real item valuation in MISys if you are on FIFO?

If you use FIFO as your costing method, you might be confused as to which valuation report you should use to reconcile your inventory balance with the accounting software after a period end post.

MISys has TWO item valuation reports and these reports yield somewhat different results.

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Manufacturing Improvement – MISys and Kanban’s

In many manufacturing environments, the replenishment of Bulk items to a Work Center is triggered by a Kanban signal that goes to the stock room. This is common with visual replenishment methods such as ‘Two-Bin’ or ‘Kanban Cards’.

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Updating BOM’s with a new component item

Have you ever created a new item to replace an old part, or required for a lot of assembled parts only to find out that you now have the daunting task of updating the long list of BOM’s with that new part number?

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Manufacturing Improvement – Keeping it Simple.

Making process outcomes more predictable is a primary objective of manufacturing improvement. In fact, predictability and the elimination of variance is so important that the engineering toolbox of Lean/Six Sigma emerged to help deal with it. As an example of the impact of variance in manufacturing, a production planner running a tight schedule would likely prefer that a purchased item quoted with 10-day lead time, reliably ships in 9 to 11 days, rather than somewhere in a range of 2 to 18 days, with price and all other factors being equal.

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Manufacturing Improvement – Value: What Customers Pay For

Like the removal of excessive packaging found on many purchased items, manufacturing value can often take some effort to isolate and get at. To help identify production value, establishing operational standards and comparing the output against those standards is an important first step.

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Currencies in MISys Manufacturing Software

If you have enabled the Multi-currency features of MISys Manufacturing, the Currency Services function stores the foreign currencies you wish to associate with your Suppliers and the default exchange rate between those currencies and your home currency.

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