Manufacturers transform goods, i.e., they mainly manufacture their own goods, but they also repair and install industrial equipment, as well as subcontract operations for other firms.
Nevertheless, with the growing number of breakthrough inventions and technologies, we have studied some of the major challenges faced by the manufacturing industry and have attempted to overcome them.
It is one of the most critical conundrums faced by manufacturers. Industries like railways, Substation, Electrical, HDVC, etc. are some industries that have a colossal amount of raw materials that need to be stored and taken proper care of. Manually investigating the stocks is more prone to fallacies, leading to a high amount of inaccuracies, shortage or overflow of stocks, and pilferage. Organizations are under constant
Automated software and contemporary technology have made the manufacturer’s work much easier, but one needs human assistance as well to run those machines and software. Hiring skilled employees, especially blue-collared ones, processing payrolls, and abiding by labor law compliance is an arduous task to perform. Additionally, maintaining their labor costs, overtime charges, daily wages, etc. are too complex to handle.
We all know that the manufacturing industry involves a gigantic range of equipment and machinery. For that purpose, it requires rigorous monitoring and tracking of assets so that chances of damage, ghost assets, and pilferage become less, meanwhile maintaining its operational proficiency. It demands an experienced team who responsibly takes charge of it.
As a manufacturing industry, the stocks are in a continuous state of flux and is mostly noticed that the vendor’s invoices and the physical stock doesn’t match with its high accuracy rate. Hence, one needs the assistance of vendor reconcile method in order to get rid of discrepancies, accounting errors and stock’s pilferage.
We comprehend the challenges faced by manufacturing industries. Thus, we provide solutions that help our clients deal with it effortlessly.
- Implementation of Internal controls
- Internal Audit/ Process Audit/Transaction Audit– Periodic, Concurrent
- Process outsourcing – AP / AR
- Stores & Warehouse Outsourcing
- RM & FG Stores Outsourcing
- Taxation support – Compliance, Audits, Deptt. Liaison
- HR Services – Placement, payroll, compliance
- Facility Management
- Fixed Assets – Capitalization, Numbering & Verification
- Inventory Verification – Periodic / Perpetual
- Reconciliation – Vendors / Customers / Statutory