Food manufacturing machine.

Food and beverage businesses: Manage cash flow to increase profits

By | ERP, Food and Beverage, Sage X3 | No Comments
Food manufacturing machine.

You can take steps now to assist with smoother cash flow later.

Are you looking for ways to increase profits for your food and beverage business? Need a proven food enterprise resource planning software (ERP) solution? Cash flow is a crucial part of any organization.

A lack of money can cause a business to fail. Taking the right steps to manage cash flow can reduce issues. These include:

  • Manage credit control
  • Sales forecasting
  • Negotiate credit terms with suppliers
  • Manage stock levels

Small business cash flow is a concern of company owners everywhere. More than half of U.S. small business owners (52%) have lost at least $10,000 when passing up a project or sales due to insufficient cash flow. Fortunately, these solutions can help you get ahead before it really becomes a problem.

Manage credit control

Credit is a convenient way to increase inventory and take care of business expenses when you need it. Learning how to manage credit early on will keep you out of trouble in the future.

That being said, never rely on credit. Credit adds up over time and will eventually run out.

Sales forecasting

Sales forecasting is about predicting what will happen in the future so you can plan for cash flow peaks and valleys. Once you have a little sales experience, you can forecast cash flow.

Use market knowledge, competition, pricing, the economy and anything else that influences the amount you make and spend. It’s better to be too cautious than overly optimistic.

Though you may find it challenging to manage your cash flow, you’ll eventually turn those concerns into smart money management. This will remove you from the 90% of business owners whose companies failed due to cash flow problems.

Excel spreadsheet with sum formula.

Excellent sales forecasting can help you smooth out cash flow hiccups.

Negotiate credit terms with suppliers

One way to manage your cash flow is to negotiate credit terms with suppliers. Extending the payment terms gives you more time to pay without being penalized.

Holding onto your money for a little longer allows you to regulate cash flow in your business. For example, if you are expected to pay a supplier in 30 days, ask if you can extend it to 60 or 90 days instead.

Negotiate payment plans for sizable orders so you won’t need to pay large sums all at once. You can then make regular smaller payments that are easier to manage over time.

Manage stock levels

Monitor your stock closely so you’ll always know what you need and exactly when you need it. Only order those items that are running low and the exact amount that you need in order to avoid unnecessary spending and waste.

Figure out what sells quickly and will be most profitable. This results in a steady income and keeps you from holding onto items that are slow-moving or don’t shift easily. This keeps you from tying up funds you could use somewhere else.

Manage cash flow with Sage X3

Sage X3 is an enterprise resource planning software solution that helps you manage your cash flow:

  • Accurately calculate profits
  • Strike a balance between supply and demand
  • Attract new customers digitally
  • Improve your profit margins through savings

Sage X3 is easy to use. It can be accessed from anywhere, offers exponential opportunities for growth and keeps you in the loop.

Want to know more about the food ERP for managing your cash flow today? As a Sage X3 partner, NexTec ensures the fastest ROI on your ERP investment.

See how NexTec can tailor your Sage X3 to your needs. Give Sage X3 a try.

Sage Platinum Reseller

Thank you! – Achieving Operational Excellence in Food and Beverage Manufacturing eBook

By | Food and Beverage, Manufacturing | No Comments

Thanks for getting in touch

Here’s your copy of the eBook, “Achieving Operational Excellence in Food and Beverage Manufacturing”.

Download now
Achieving operational excellence in food and beverage manufacturing

About NexTec Group

NexTec Group is a national consulting firm, specializing in technology to help you manage your business. This includes Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Business Intelligence (BI), Cloud and On-premise solutions for mid-sized businesses.

We started the company because, as consultants, we saw software sellers that had never walked a mile in the customers shoes. We had, and knew that we could offer something different. A company made up of consultants that had experience working in the industries that they were now advising.

In the 20+ years that NexTec has been in business, we’ve developed close working relationships with our customers, partners and each other.

Customers choose NexTec because…

  • Our consultants have an average of 25 years’ experience in both consulting and industry.
  • We understand the software, customer challenges, value teamwork, and are passionate about doing great work
  • We provide clear information that helps customers make informed buying decisions
  • We stand by our customers to make sure the technology works, is used, and produces great results
  • We deliver our services with a sense of friendliness, fun, individual pride, and company spirit

If you see the possibilities, let’s meet for lunch, coffee or a drink.

Sage Authorized Partner

Thank you! – Brookside Flavors Case Study

By | Case Studies, Food and Beverage, Manufacturing, Sage X3 | No Comments

Thanks for getting in touch

Here’s your copy of the Brookside Flavors case study.

Download now
Brookside Flavors and Ingredients

About NexTec Group

NexTec Group is a national consulting firm, specializing in technology to help you manage your business. This includes Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Business Intelligence (BI), Cloud and On-premise solutions for mid-sized businesses.

We started the company because, as consultants, we saw software sellers that had never walked a mile in the customers shoes. We had, and knew that we could offer something different. A company made up of consultants that had experience working in the industries that they were now advising.

In the 20+ years that NexTec has been in business, we’ve developed close working relationships with our customers, partners and each other.

Customers choose NexTec because…

  • Our consultants have an average of 25 years’ experience in both consulting and industry.
  • We understand the software, customer challenges, value teamwork, and are passionate about doing great work
  • We provide clear information that helps customers make informed buying decisions
  • We stand by our customers to make sure the technology works, is used, and produces great results
  • We deliver our services with a sense of friendliness, fun, individual pride, and company spirit

If you see the possibilities, let’s meet for lunch, coffee or a drink.

Sage Authorized Partner

Webinar: Streamline compliance with modern ERP

By | Chemicals, Events, Food and Beverage, Pharmaceutical / Nutraceutical, Sage X3, Upcoming Webcasts | No Comments

Staying current with complex mandates and regulations is one of the biggest challenges faced by food manufacturers. During this webcast as we join the independent advisors from Ultra Consultants for an educational webinar that puts the focus on this important topic.

We know that staying educated on the best way to meet ever-increasing rules and regulations keeps your organization operating at peak performance. That’s why this session is so important. See how modern ERP plays a critical role in supporting compliance and automating required documentation and processes.

We’ll demonstrate the key features needed to improve functions such as:

  • Lot attributes
  • Traceability
  • Recall
  • Quality checkpoints
  • Complaint management

Helpful resources

Food manufacturing machinery.

Food and beverage industry embraces automation: Is your ERP ready?

By | ERP, Food and Beverage | No Comments

A 2019 poll by Food Engineering Magazine reported that 22% of respondents had installed advanced automation capabilities.

Food manufacturing machinery.

Thin profit margins make automation increasingly important in the food and beverage industry.

Automation makes sense in the food and beverage industry, where margins are slim and requirements for consistency and regulatory compliance are exacting.

But automation doesn’t mean pushing a button and watching magic happen. Automation in the food and beverage industry requires precise orchestration so that quality is never compromised, and so that businesses can operate profitably while adhering to all regulations. Enterprise resource planning (ERP) software is the key to this meticulous choreography of supply chains, inventory, data gathering, and reporting.

Automation in finance

Because of its slender profit margins, successfully operating a food and beverage company requires that finance be managed with precision. The right food and beverage ERP software sharply reduces manual data entry, so that data entry errors are less likely to enter the system and propagate, causing further problems.

Tight management of supplies and inventory levels also requires exceptional financial management. Keeping inventory and supplies at optimal levels requires understanding purchase cycles and ensuring resources are bought strategically and in the right quantities. An outstanding food and beverage ERP system, like Sage X3, empowers businesses to not only take control of finance but to generate valuable and insightful data from every financial process.

Automation for safety and quality assurance

Few industries are more beholden to safety and quality assurance standards than the food and beverage industry. Enterprise resource planning includes gathering safety and QA data and monitoring it at all times so that raw materials are used properly and so that waste is kept to an absolute minimum.

Bottling plant.

Enterprise resource planning means prioritizing safety and quality while minimizing waste.

The right food and beverage ERP is also audit-ready – something that is non-negotiable when it comes to the products people consume. Compliance audits and customer audits are part of the food and beverage business, and when an ERP does the heavy lifting of audit compliance, companies are freer to focus on core business activities.

Automation in operations

Automated operations depend on a well-managed supply chain. Supply chain transparency is aided by an outstanding ERP system like Sage X3. Materials requirement planning must be done with the utmost attention to detail so that all points in the supply chain can be optimized. The right ERP software not only assists with this, it also collects valuable data that informs future decision-making.

Many food and beverage corporations are automating production lines to improve flexibility as well, allowing them to retool and meet changing needs quickly. For this to work, these businesses need an ERP system that can keep up.

The right ERP system orchestrates it all

Sage X3 addresses financial, supply chain, and production management, helping food and beverage businesses minimize waste while reducing risk and improving regulatory compliance. Additionally, Sage X3 offers users focused insights on quality and cost, so businesses can fill orders efficiently, plan production optimally, and ensure the highest quality products.

The right Sage X3 implementation partner makes all the difference. NexTec works closely with food and beverage manufacturers and has a keen understanding of their particular challenges. With NexTec as a strategic partner and Sage X3 as the ERP solution, food and beverage businesses have the tools they need to make an increasingly automated industry operate efficiently and exceed customer expectations.

If you’d like to learn more, we invite you to read our recent study on the food industry.

Sage Platinum Reseller

Webinar: Software to overcome challenges in the cannabis edibles and infused beverages market

By | Cannabis, Events, Food and Beverage, Recorded webcasts, Sage X3 | No Comments

Watch as our cannabis and food and beverage industry experts discuss the current edibles and infused beverages market and the marketing, operational and distribution challenges companies face. Learn how our CannaBusiness ERP solution, built on Sage X3, can help you overcome these challenges.

Webcast Agenda:

  • Market overview
  • Marketing Challenges
  • Operational Challenges
  • Distribution Challenges
  • Demo

Helpful resources

Thank you! – ARA Food Corp Case Study

By | Case Studies, Food and Beverage, Manufacturing | No Comments

Thanks for getting in touch

Here’s your copy of the ARA Food Corp case study.

Download now
ARA Food Corp

About NexTec Group

NexTec Group is a national consulting firm, specializing in technology to help you manage your business. This includes Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Business Intelligence (BI), Cloud and On-premise solutions for mid-sized businesses.

We started the company because, as consultants, we saw software sellers that had never walked a mile in the customers shoes. We had, and knew that we could offer something different. A company made up of consultants that had experience working in the industries that they were now advising.

In the 20+ years that NexTec has been in business, we’ve developed close working relationships with our customers, partners and each other.

Customers choose NexTec because…

  • Our consultants have an average of 25 years’ experience in both consulting and industry.
  • We understand the software, customer challenges, value teamwork, and are passionate about doing great work
  • We provide clear information that helps customers make informed buying decisions
  • We stand by our customers to make sure the technology works, is used, and produces great results
  • We deliver our services with a sense of friendliness, fun, individual pride, and company spirit

If you see the possibilities, let’s meet for lunch, coffee or a drink.

Sage Authorized Partner
Food shop with sign labeled food allergies and intolerances.

How food ERPs assist with traceability of potential food allergens

By | ERP, Food and Beverage | No Comments
Food shop with a sign labeled Food allergies and intolerances.

The alarming increase in food allergies means manufacturers need to be ever-vigilant in maintaining food safety.

With the prevalence of food allergies growing, it’s more important than ever for food and beverage companies to have systems that protect their customers from cross-contamination.

That means having tracking capabilities throughout the production process, along with robust traceability and transparency features. Having the right enterprise resource planning (ERP) software in place lets your business prevent errors and be prepared in the event of a product recall.

Let’s take a closer look at how food ERPs assist with traceability of potential food allergens.

Food allergies on the rise

A recent study of more than 40,000 U.S. adults found that 10.8 percent had a food allergy. Of those with an allergy, nearly half reported the allergy manifesting itself in adulthood while 38 percent had made at least one allergy-related emergency department visit. In the U.K., peanut allergies have increased five-fold between 1995 and 2016.

Researchers are still unclear as to why the number of allergies has risen so rapidly, especially in the West. Environmental causes such as pollution, dietary changes and lack of exposure to microbes are all suspected reasons.

Person holding their stomach and styrofoam food container.

Cross-contamination is a major factor contributing to products inadvertently containing allergens.

Allergy impact on food and beverage makers

Manufacturers face several challenges when it comes to allergies.

Cross-contamination is one of the most common issues, often from improper cleaning of production lines and equipment, leaving product residue which is then picked up by the next product.

Tracking must be in place at every stage of the process, recording the lots, batches, recipes, amounts and sources of every ingredient used in every product. That’s essential because if there is a food issue, your company needs to be able to trace back any issues throughout the supply chain.

Labeling is also critical. Despite labels that indicate a product “may contain” an allergen or was manufactured on shared equipment, such labels are often misinterpreted by consumers.

Traceability processes also must be in place if, in the event of a recall, it’s necessary to track the sources of contamination. In such cases, transparency and speed are critical.

Maintaining safety with a food ERP

The importance of food safety means having the right business software to track, manage and report on key production elements.

Sage X3 offers an ERP solution developed specifically for the food and beverage industry. The product provides functionality to prevent cross-contamination and prepare for food recalls.

Among the features:

  • Inventory Management. Real-time monitoring of inventory, location management, stock movements and product data tracking help keep you aware of what’s where.
  • Quality Control. With proactive monitoring and product traceability, you can be prepared and proactive. Features include number management (batch, sub-batch and serial number), use-by and expiration date management, stock status (accepted, rejected, inspected), and quality control records, procedures and analyses. The module also allows for upstream and downstream traceability management.

Sage X3 offers exceptional functionality and traceability. With NexTec as your strategic partner, your business can select the right ERP for your needs. NexTec helps companies select the right business software and manage installation and optimization. Take a free tour of Sage X3 to learn more.

Sage Platinum Reseller

Webinar: Streamline compliance with modern ERP

By | Chemicals, Events, Food and Beverage, Pharmaceutical / Nutraceutical, Sage X3, Upcoming Webcasts | No Comments

Staying current with complex mandates and regulations is one of the biggest challenges faced by food manufacturers. During this webcast as we join the independent advisors from Ultra Consultants for an educational webinar that puts the focus on this important topic.

We know that staying educated on the best way to meet ever-increasing rules and regulations keeps your organization operating at peak performance. That’s why this session is so important. See how modern ERP plays a critical role in supporting compliance and automating required documentation and processes.

We’ll demonstrate the key features needed to improve functions such as:

  • Lot attributes
  • Traceability
  • Recall
  • Quality checkpoints
  • Complaint management

Helpful resources

Food ERP

How your ERP helps your preparedness in the event of a product recall

By | ERP, Food and Beverage | No Comments
Woman pouring a glass of wine from a barrel.

Food ERP software gives you more accuracy in and access to quality control information.

No food manufacturer wants to face the harsh reality of a product recall. However, your company can minimize the sting and uncertainty of a recall event by having the tools and plans in place.

One of the most effective tools is enterprise resource planning software (ERP), which can provide you with the processes, tracking and reporting mechanisms and information you need in a moment of crisis. See how your ERP helps your preparedness in the event of a product recall.

Heightened awareness and regulations

Food manufacturers no longer need to simply wait to respond to a recall. With an ERP in place that supports traceability and recall, you are better equipped to prepare, prevent and minimize recalls.

Customers today are more aware of the sourcing of, ingredients in and processes used to make their food. Couple that awareness with increased regulatory mandates, including the Food Safety Modernization Act, and you have more reasons than ever to focus on preparedness.

Person cutting up a yellow bell pepper and placing in a glass dish.

A food ERP helps to trace ingredients and byproducts throughout the supply chain.

What an ERP offers

With an ERP at the core of your recall management strategy, you’ll already be prepared, during and after a recall event. Here’s how.

Risk mitigation. The FSMA mandates that manufacturers identify risks, implement solutions and document the entire process. These controls are required from farm to fork, necessitating an ERP that can track details throughout the supply chain.

Process controls. With documented processes and tracking, you can identify critical control points where problems can surface.

Quality control. Automated tools help you conduct inspections and record the results, alerting you to non-compliant products and ingredients, preventing them from entering the food chain.

Inventory management. A single source of truth for warehouse operations helps to manage ingredients and sources.

Emergency readiness. With a food ERP like Sage X3 in place, you can be ready for any recall issue, with the following features available:

  • Recipe management that records attributes for every ingredient, the lot numbers, batches, dates and amounts used for every product
  • Byproduct tracking to provide more traceability
  • Capacity scheduling that manages equipment and machines to prevent cross-contamination
  • Notification management that issues recall letters, creates call lists for sales reps and customer relations staff

In the event of a recall, time is of the essence. With the right food ERP, you can gain access to the data you need, the scope of the recall and the details that customers, officials and regulators will expect.

Preparing with mock recalls

An actual recall is not the first time your business should be putting in place your recall management plan. A mock recall program helps your business in myriad ways:

  • Test traceability details by evaluating the product journey through your supply chain
  • Confirm that communications plans give you accurate contact information for suppliers, customers and partners
  • Refine your plans based on the mock recall results

By identifying a product to be traced and retrieved, assembling a recall team, creating a recall plan, and conducting and evaluating the mock recall, your business will be better prepared.

At NexTec, we help businesses identify, install and optimize business management software. We offer a solution that enhances your ERP product recall functions with advanced features that enhance your solution.

Learn more about NexTec’s Product Recall module for Sage X3.

Additional food resources

NexTec 2019 food & beverage manufacturing industry study overview

Add Sage to your food and beverage ERP recipe

How the right ERP solution reduces food waste

Sage Platinum Reseller