Maintaining a consistent cash flow is difficult. It's hard enough to track assets and materials, while human involvement is even more problematic. Supplier, customer and employee performance all play a part in financial management. Many manufacturers should search for data tools to create consistent solutions to human problems.
CRM software is a great source for consumer insight, while ERP solutions are necessary for modern enterprise challenges. Microsoft Dynamics NAV tracks supply shipments, manufacturing processes and employee performance. Additional NAV modules are available to monitor the finances involved with workers' daily activities and prepare companies for any payroll changes.
Solutions for changing practices
A company may have a payroll system that is dependable, but every manufacturer must be ready to adjust in response to customer demand, new technology or changing regulations.
In recent news, the U.S. Department of Labor proposed a change to overtime standards. Manufacturing.net reported the Obama administration introduced new legislation that would make more American employees eligible for overtime pay. Currently, companies only have to provide workers who make $24,000 or less a year with overtime compensation. The new rules would raise the limit to $50,000 dollars.
If the government approves the new overtime rules, managers and supervisors will have to receive payment for the extra hours they put into production projects. Many companies will need to reevaluate their manufacturing schedules and payroll systems. Flexible technology like NAV time collection is necessary to simplify procedure adaptations.
Data collection for improved efficiency
The Manufacturing.net article suggested the solution to the new regulation is for companies to look for ways to eliminate the need for overtime. Instead of fighting the rules, manufacturers should find methods to streamline processes to avoid wasted time and additional cost.
Dynamics NAV time collection provides opportunities for real-time data collection. Workers who use the module on mobile devices while performing operations on the production line can create an accurate picture of schedule performance. Reliable Plant, a manufacturing resource, said many manufacturer waste resources on unplanned downtime, minor stops and reduced speed. When problems occur, data reporting provides visibility to managers of what factors caused the incident.
Employees who report accurate schedules instantly approved by supervisors can indicate exactly how many workers contributed to a project and how long it took. Information that's visible in a centralized platform will demonstrate redundancies or other opportunities for streamlining processes.
Consistent solutions for employee and managers
The new overtime rules create standard payment procedures for different employee levels. If a company uses software that facilitates routine timecard reporting for all workers, regardless of their position, payroll finances are visible on a single platform.
Forcing different workers to meet unique standards creates a complicated system, which may find itself open for mistakes or communication errors. An integrated approach, where all employees use the same mobile software tools to record performance, is simpler and faster. Microsoft Dynamics NAV creates an easier time card system that is flexible and displays a clear picture of performance.
Managers who want more information on tech solutions to timecard changes should download the Time Collection Dynamics Data Sheet.