20 August 2018

Gain real-time visibility of your costs (and stock) with Dynamics Food

Dropped in Food Industry

Pondered by Natasha

Undoubtedly, one of the most crucial aspects and challenges of managing a business within the Food industry is having control of your costs. 

Having visibility of how you use your stock is an essential part of your cost management. You need to maintain a record of what you use, how long it takes to produce and visibility of the transportation and delivery to your retailers.

You also need to manage the added complexities of the Food industry such as: sell-by dates, shelf-life and catch weight which all add to the challenge of setting the right stock levels.

All too often businesses within the Food industry with poor stock management often over-order. By ordering more than you need, you’re likely to find the excess negatively impacting your storage costs, inviting theft, or even seeing the food (and your money!) going to complete waste.

The benefits of employing costing methods

Without employing costing methods there is no way that you can define the value of your stock, set sales prices, measure your gross margin or safely make key business decisions.

Within Dynamics Food, you can create ‘Standard Costs’ which consist of elements such as: material, capacity, transport and direct and overhead subcontractor costs. Ultimately with Dynamics Food, you can establish a standard cost that your sales team can work to and measure your actual costs in production and the variance to your standard costs.

Dynamics Food also provides real-time visibility of stock availability and movements (with sell-by dates, shelf life and catchweight all taken into account - check out our previous blog), to enable your team and users to make reliable decisions as well as confidently advise customers of a more accurate delivery time.

Effective cost management & reporting, with all the complications of the Food Industry built-in, will give you the information and control you need to boost operational efficiency, drive up production without increasing headcount and grow your profit margin.

With confidence in your costing methods, you can begin to plan the future growth of your business. With Dynamics Food, you will be able to confidently set revenue targets as well as objectives to reduce your operational expenditure and ultimately facilitate the growth of your company. 

Wouldn't it be easier to just learn more in-person? Go ahead, and register your ticket to the Food & Drink IT Summit at the Ricoh Arena on Tuesday 2nd October! We will be exhibiting on Stand J07 and it would be brilliant to learn more about you and your system. 

To learn more about how Dynamics Food can help you control your costs and your stock, please visit: https://www.tecman.co.uk/food

Technology Management helps manufacturing, and distribution business transform their processes and operations with Microsoft Dynamics. Dynamics Food is our offer of Microsoft Dynamics 365 Business Central/Dynamics 365 to provide a complete end-to-end ERP software for food companies.

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