4 additional benefits an MRP can bring to your manufacturing business
Following some recent analysis, we’ve uncovered how Access FactoryMaster MRP is being used by small and medium-sized manufacturers across the UK to achieve some excellent outcomes, with one reporting combined savings and income opportunities of almost £1m per year.
Everyone knows that an MRP can boost productivity and yield, but there are other, often forgotten, benefits to implementing an MRP system. So, what are 4 additional benefits you can expect when you begin using an MRP?
1. Night-time and weekend productivity
Access FactoryMaster MRP has been developed to streamline and automate manufacturing processes, so production managers can be confident in the quality of their output. This means machine centres with automated 'load and unload' capabilities can run 'lights out' operations, with minimal or zero human input.
For example, with only a few minutes of time booked to the job the night before, machines which were previously idle can be set to run overnight and at weekends, being productive in what would have been downtime. The result? Your factory will be working hard for you when the lights would have once been off. Depending on the scale of your operation, this could be worth hundreds of thousands of pounds per year in new revenue.
2. Reduce rejections and waste
Consistently high-quality standards are key to reducing waste and safeguarding profits. One manufacturer was rejecting up to 22% of its output due to poor finish quality from one sub-contractor but thanks to Access FactoryMaster MRP’s traceability and audit trail, the team was able to quantify and recover the cost of parts that had to be scrapped from the sub-contractor. On top of that, the firm worked with the sub-contractor to find out what had caused the high reject rate, so it could avoid the cost of re-makes.
3. Reduce stockouts to zero
Running out of stock is a major issue with significant financial ramifications for any manufacturer. Reducing so-called stockouts to virtually zero by using the Materials Requirement Planning module can be achieved with shared data. Actionable insights speed up the time it takes to produce bespoke items by up to a quarter, improving service and enabling manufacturers to win and retain more business.
4. Claim R&D tax credits
The government has made R&D relief available for companies working on innovative projects in science and technology.
Some customers now generate all their R&D tax credit calculations via Access FactoryMaster MRP's Project Costing. The way that jobs are costed makes it easy to identify and collect costs with a robust audit trail solid enough to stand up to scrutiny by HMRC. Costs can be collected into a FactoryMaster project for the tax year, providing highly-detailed documentation for their claim.
Last year, one of our partners was able to claim back in excess of £100,000 in R&D tax credits – much of which would previously have been difficult to quantify.
Find out more
The modular solutions and centralised data management available from Access products means that you get the right fit for your business, including real-time data, tailored to the user with tabbed browsing, analytics, and KPI dashboards straight to your desktop or tablet. For years, we’ve been working with manufacturers to make the best use of evolving technology, so we’re familiar with the unique challenges you are facing. The data you need finds you, so you don’t need to go looking for it.
