CORP Blog 7 Costly Inventory Management Mistakes LP Header 2021

Cost management system

Forward-thinking manufacturers strive to be lean – but without detailed cost analysis, based on accurate and up-to-date data, it’s difficult to identify inefficiencies that could be making projects less profitable.

Stay in control of costs

Improve your cost management

With so many different processes involved, managing costs is an ongoing challenge for manufacturers. ow powerful cloud-based cost management software allows you to quickly understand the profitability of completed jobs by accurately capturing labour and materials costs. With part history for repeat jobs contained within the system, you can also provide realistic re-quotes based on the same or similar parts, and monitor both part costs and profitability trends.


Increase profitability of in-progress jobs

Cost management software allows you to track the profitability of every in-progress job, instead of waiting until it’s complete. Real-time visibility of operations makes it easy for managers to share information about capacity, inventory and equipment downtime with shop floor teams, or rapidly compare estimate-to-actual job costs and understand profitability by customer or job.

Benefits of cost management software

Increase efficiency

With real-time operational visibility, shop floor teams can manage resources more effectively to reduce downtime and ensure production stays on track.

Cost savings

Cost analysis and reporting tools help you understand the costs for work-in-progress and completed jobs, so you can determine the impact on profit margins.

Reduce risk

Understand actuals and estimates of every job and address any issues while it’s in progress, and avoid them in the future.

Get rid of clunky spreadsheets

Eliminate spreadsheets by bringing all your data together in a single cloud-based system – saving time and reducing the risk of error.

Standardise processes

Accurate data capture, automation and custom configuration allows you to standardise key processes, improving quality control and giving you confidence in your decision-making.

Improve customer satisfaction

Real-time data, with complete departmental integration, communication, and traceability – helping to ensure on-time, in full (OTIF) delivery and a high standard of customer service.


FULLY INTEGRATED COST MANAGEMENT SOFTWARE

Easy-to-use manufacturing ERP software to help your business grow

Job costing 2

Integrated cost management software

M1. Get business visibility that powers your growth. Specifically built for small and medium-sized businesses, M1® software integrates critical business processes within a single, robust ERP system.

Find out more
Job BOSS New Feature

Flexible cost control

JobBOSS². A complete solution that puts you in control. JobBOSS² software is a shop management system with a range of business-boosting features. Get the flexibility and visibility you need to meet production demands and increase profitability on every job.

Find out more

Features of ECI’s Cost Management Software

Cost management system Features
Real time operational visibility to help maximise production efficiency

Use M1 to easily share information about every job with shop floor teams, helping to increase production efficiency and track progress – all in real-time. Data-driven insights allow you to manage capacity, inventory, and equipment downtime.

Managers can keep a close eye on labour and resource allocation, and easily compare a job’s estimate-to-actual costs and understand how profitable every job or customer is.

Generate quick quotes

Save time and increase customer satisfaction with the JobBOSS quick quote function. With complete access to labour and materials costs, you’re able to price every job accurately helping to manage customer expectations and protect your margins.

Since all costs are documented, estimators can be confident they have the most up-to-date numbers to hand, rather than having to make assumptions. JobBOSS Quote Processing enables you to keep quotes competitive, while maintaining profitability.

Other benefits include:

  • Parts costing to understand profit margins.
  • Ability to check inventory of parts, materials and purchase history as part of the quoting process.
  • Fast, detailed, multiple quotes.
  • Insights into win rates to drive sales.
Seamless order tracking

With real-time visibility of the manufacturing process, staff, suppliers and customers are able to track the progress of every job and plan their operations accordingly. Greater efficiency leads to cost savings, higher productivity and increased satisfaction.

Key benefits of JobBOSS include:

  • Streamline the quote to order process.
  • Flexibility everything from quick-run jobs to complex assemblies, blanket orders with releases, and time and material jobs.
  • Make adjustments to quantities and due dates even when a job’s in progress.
  • Manage jobs with different routing options e.g. different run time methods, overlapping operations, and efficiency projections.
  • Standard operations file with default set-up and run times to create routings to manage repetitive manufacturing.
  • Parts shortage alerts.
  • A range of format options to print the shop traveler.
  • Support unlimited text at the job level, individual routing level, and bill of material level.
Purchasing power

Gain real-time insights to help you make informed decisions on what, how much and when to buy from each supplier using M1’s purchasing features. Improve efficiency by ordering materials directly to each job or stock and automatically create backorders. You can also use the Open PO report to keep a record of all outstanding orders.

The software allows you to accurately report on the value of all goods received and easily manage PO receipts for individual, partial, or multiple deliveries.

Integrated finance system

Manage accounts payable, accounts receivable, payroll, fixed assets register, and credit card processing with the highly-secure, integrated M1 ERP. There’s also the option to add the M1 General Ledger for managing and reporting financial activities. All transactions for production, shipping, receiving, receivables, and payables can be captured and posted.

Automated Shipping

Ensure OTIF delivery, and drive up customer satisfaction, with automated shipping. M1 ERP gives you full visibility of your shipping activities, with analytics to understand performance. It also integrates with a number of global shipping companies for maximum efficiency.

The software gives you the option to ship various product types from inventory, work orders, and purchase orders, while data-driven insights help you track OTIF performance and make improvements.

Get a demo

Get a personalised demo of our Inventory Management Software

eci solutions logo

Let's work together to transform your business.

g2 tracking pixel