Improving Inventory Management and Profit Margin: A Case Study of North Texas Pressure Vessels, Inc.
Technology Category
- Functional Applications - Inventory Management Systems
- Functional Applications - Warehouse Management Systems (WMS)
Applicable Industries
- Education
- Life Sciences
Applicable Functions
- Procurement
- Warehouse & Inventory Management
Use Cases
- Inventory Management
- Picking, Sorting & Positioning
Services
- System Integration
- Training
The Challenge
North Texas Pressure Vessels, Inc. faced numerous challenges related to inventory management. They had no inventory management system in place, resulting in inaccurate values and quantities of inventory. They lacked item numbers, relied on multiple spreadsheets for inventory tracking, and had inaccurate and outdated inventory costs. This made it difficult to price jobs accurately and affected their overall costing of inventory. Additionally, the cost of processing purchase orders was high.
The Customer
North Texas Pressure Vessels, Inc.
About The Customer
North Texas Pressure Vessels, Inc. is a Texas-based manufacturer. They faced challenges related to inventory management and needed a solution to accurately track inventory, improve production management, and enhance their gross profit margin.
The Solution
To address these challenges, North Texas Pressure Vessels, Inc. implemented MISys Manufacturing Software. The team at NTPV had experience with other MRP systems and found that MISys had the necessary functionality for an effective MRP system. They worked with a SureStart coach to properly set up and train their personnel. Excel templates provided by the coach made it easy to organize data for uploading into MISys. They loaded 19,000 inventory items into the system and took the time to involve all players in the implementation process. They also received custom reports and conducted system training before going live.
Quantitative Benefit
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