Features Beyond QuickBooks Advanced Inventory Module
QuickBooks has added a lot of functionality to its Advanced Inventory module. Those features go a fair distance in meeting the needs of a retailer or distributor with multiple locations or a need to track items by serial or lot number. The Advanced Inventory module is "good enough" for many manufacturers with simple products or manufacturing processes and who don't need the precision of a true manufacturing solution. When a prospect asks us "Why do I need more than what I already have?" it all depends on what they are trying to solve. Here is a simple list of the things that MISys Manufacturing adds to QuickBooks:
- Accurately track Work in Process (WIP) inventory, including inventory with outside processors.
- Use LIFO or Standard Costing.
- Track labor expended in manufacturing and completion of job at work center locations.
- Track by Serial AND Lot number - traceabilty from raw material to finished good, up to 16 nested levels.
- Establish production schedules based on sales orders, sales history or forecasts. (Master Production Schedule)
- Automate inventory purchases based on the production schedule, incorporating lead times and the inventory on hand, on order or in production. Order WHAT you need, WHEN you need it. (Material Requirements Planning)
- Make unlimited revisions to a standard Bill of Material for optional configurations of a product.
- Link multiple suppliers/vendors to materials and track their performance regarding delivery time and cost.
- Account for variable yields for batch process manufacturing (foods, chemicals, nutraceuticals).
- Utilize "what if" scenarios to determine if a product can be made given the existing inventory, or what inventory has to be ordered to produce a certain quantity of products.
- Visually display production schedules in a GANTT chart and make changes using that chart.
- Display 16 levels of nested assemblies, including the sub-assemblies and component parts.
- Establish Production Routings, detailing the works centers, operations, instructions and shop floor travelers.
- Track byproducts and secondary outputs.
- Set accounting rules by location, project and item.
- Modify production orders on the fly. (Manufacturing Orders)
- See item where used. (BOMs, Production, Purchasing)
- Industry Standard MS SQL Database - Unlimited Capacity.
These are just some of the things that manufacturers can do with MISys Manufacturing that are not possible with QuickBooks Advanced inventory. Remember, when "good enough" is not good enough, get MISys.