in High 90th Percentile with Customized Inventory System Located in Illinois, MIFAB Inc. is a plumbing and drainage products supplier. They inventory, sell and distribute over 30,000 items from more than 65 warehouses. MIFAB’s previous inventory management and accounting system took up to a week to ship orders. Their inventory accuracy was well below 50%. This resulted in low fill rates and difficulty in planning stock replenishment. Maintaining the stock in so many warehouses was incredibly problematic. They needed a solution that would provide real-time accurate inventory across their complete network of warehouses. Dwight O’Brien from MIFAB explained that the company’s management “wanted to improve inventory accuracy to above 95%” and to process the information immediately.” What added to the complexity of getting this inventory managed was that MIFAB had very specific pricing requirements. Their customer pricing for each item varied as the market dictated throughout the United States. They wanted to achieve exemplary inventory handling plus improve communication with their customers. MIFAB contacted Executive Concepts Inc. (ECI) a highly experienced accounting and warehouse management software consultant to resolve their issues and improve their operations. After careful analysis, Sharlene Pearl of ECI determined that MIFAB would need several integrated and customized systems in order to meet their unique needs. Her recommendation was to employ AccountMate software as the foundation to manage their accounting and inventory requirements in conjunction with two integrated ECI products (ACCU-DART which is a radiofrequency bar-code data collection and DRP that provides a Distribution Requirements Planning system). With the additional implementation of Appfinity’s WebSalesForce Web Ordering System, MIFAB’s remote offices would be able to process transactions immediately. Each of these products provided the extra benefit of being customized to fit MIFAB’s specific requirements. AccountMate has an excellent reputation as real-time, customizable financial and business management software. It was the ideal solution for MIFAB as it could dynamically manage the inventory tracking, bin tracking, invoicing and other accounting transactions. And since AccountMate is a sourcecode solution, it provided ECI the flexibility to modify the system to conform to MIFAB’s requirements. These modifications met stringent pricing requirements to allow for the automatic sending of emails to customers with information regarding statement, invoice and order confirmations. The system also provided internal email alerting for inventory issues such as notification to the warehouse manager when specific bins would go negative. The ACCU-DART inventory management solution integrates directly into AccountMate. Using radio-frequency scanners, the warehouse staff can instantly update inventory in the accounting system. For MIFAB, this functionality is integral for maintaining inventory accuracy. It is used to complete inventory transactions, picking sales orders, shipping orders to customers and receiving purchase orders. Of equal importance is the fact that it ensures that all users throughout the organization have the most up-tothe- minute information. This gives employees the advantage to quickly answer inquiries without having to wait for information to be provided by anyone else in the organization. This accounts in large part for MIFAB employees being able to meet deadlines and to exceed customer expectations. The Distribution Requirements Planning provides MIFAB with the assurance that they have the right inventory at the right time. This DRP provides a more effective way of managing inventory levels based on sales forecast, safety stock and AccountMate’s Purchase Order, Sales Order and Inventory Control data. This planning system provides the option for MIFAB to create purchase orders or quotes based on the required calculations. And since this DRP is also a source-code modifiable solution, it was customized specifically for MIFAB to include “Transfer Requirements Planning”. In the past, the MIFAB satellite warehouses used to place orders when they were low on stock just to ensure their warehouses were fully stocked. Now with the Transfer Requirement Planning functionality, warehouse managers can accurately forecast what stock to transfer based on past sales and accurate stock levels. The WebSalesForce web ordering system integration has given MIFAB’s network of rep agents the capability to quote prices, place orders and check the status on their transactions over the Internet. Order status, inventory availability and customer’s account information are automatically updated at all times. This secure web ordering system assures that only an authorized MIFAB rep can log in to the web site and bring up information pertaining to their customers. After working with ECI to implement these customized solutions, MIFAB’s operations have significantly improved. Dwight O’Brien explains: “All inventory transactions are now in real-time, and inventory accuracy is now in the high 90th percentile”. Accounting procedures have improved by incorporating AccountMate, while ACCU-DART ensures that transactions are processed in the warehouse quickly and accurately. DRP allows MIFAB to coordinate purchase orders and on-hand inventory over their many warehouses. About AccountMate Since 1984, AccountMate Software Corporation has provided customers with powerful and flexible accounting and business management software. AccountMate provides the most stable and technologically innovative modifiable accounting solutions for the mid-market. The accounting systems are sold by the module which enables customers to acquire the software they initially need and add modules as their business needs increase. The availability of source code makes this software highly modifiable so that it can be adapted to any changing business environment. |
