Manufacturers in the print and packaging industry face constant challenges in keeping track of inventory, reducing waste, and ensuring seamless production. Without an efficient system, stock discrepancies and supply chain disruptions can slow down operations and increase costs. Read the full blog to know more!

Why Inventory Management is Crucial for Print & Packaging Manufacturers

Manufacturing inventory management ERP is designed to oversee the movement of physical assets throughout the production process. Effective inventory management encompasses, or works in tandem with, the following functions:

• Inventory tracking and auditing
• Inventory optimization
• Cash flow management
• Order management
• Vendor management and procurement
• Warehouse management
• Transportation and logistics

Why Inventory Management Is Different for Print & Packaging Manufacturers

Inventory management ERP is arguably more complex for manufacturers than it is for the retailers and distributors that follow them in the supply chain. This is because print and packaging manufacturers must manage not only the universal concerns of inventory management—such as demand forecasting, cash conversion cycles, warehousing, and logistics—but also the intricacies of managing different classes of production inventory.

Print and packaging manufacturers must carefully track and manage supply chain dependencies and relationships with raw material and component vendors to ensure that any disruptions in the availability of raw materials won’t cascade across the entire production lifecycle. For example, manufacturers may need to build up a reserve of safety stock to protect themselves from fluctuations in supply chain availability or customer demand. As a result, inventory management is intricately tied up with operational efficiency and cost management.

3 Production Inventories Under Manufacturing Inventory Management

Manufacturing inventory management tracks and optimizes three main categories of inventory: raw materials, works in process, and finished goods. Some organizations may manage a fourth category, known as maintenance, repair, and overhaul (MRO), which includes safety equipment and supplies for maintaining machinery on the factory floor.

Raw Materials Inventory

Raw materials inventory includes components a manufacturer uses to create its finished products. For example, ink, paper, adhesives, and packaging materials would be raw materials for a print and packaging manufacturer.

WIP Inventory

Work-in-process (WIP) inventory includes partially completed items that have been worked on beyond the raw materials stage and are on their way to becoming finished products. For a packaging manufacturer, WIP could be semi-assembled packaging boxes, cut and printed labels, or molded plastic containers that are yet to be assembled.

Finished Goods Inventory

Finished goods inventory is the final product, ready to be distributed and sold to retailers and customers. These include fully printed labels, completed packaging materials, and ready-to-ship cartons and containers for businesses.

The Role of ERP in Reducing Inventory Costs

Inventory mismanagement can lead to overstocking, stockouts, increased holding costs, and supply chain inefficiencies. An advanced Manufacturing Inventory Management ERP helps businesses reduce costs by:

• Automating inventory tracking to prevent stock discrepancies.
• Enhancing demand forecasting for optimized stock levels.
• Streamlining procurement processes to avoid excess or inadequate stock.
• Improving warehouse management for better space utilization.
• Reducing manual errors with real-time updates and AI-driven insights.

Best ERP Solutions for Inventory Management in Print & Packaging Manufacturing

For manufacturers looking to optimize inventory management, ERP solutions with strong inventory tracking, warehouse ERP, and supply chain integration are essential. The top Manufacturing ERP solutions include:

• Microsoft Dynamics 365 Business Central – A scalable ERP for manufacturers needing real-time insights and automation.

Why Choose Samadhan for Manufacturing Inventory ERP?

If you’re searching for the best Manufacturing Inventory management ERP for the print and packaging industry, Samadhan provides industry-specific solutions to help manufacturers streamline inventory management, optimize stock levels, and reduce operational costs. Our ERP solutions integrate inventory tracking, warehouse ERP, and supply chain management, ensuring seamless operations.

Boost Your Manufacturing Efficiency with Samadhan ERP – Contact Us Today!