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Sage X3

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! – 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
Technician filling glass vials with liquid.

Chemicals in 2020 and beyond: Challenges and solutions

By | Chemicals, ERP, Sage X3 | No Comments
Technician filling glass vials with liquid.

The chemical industry faces new challenges each year.

As we begin a new year, the challenges and complexities that chemical companies face will continue to shape the future of the industry. It’s important for companies to be forward-thinking in identifying the issues that may impact their business in 2020 in order to stay ahead of tough challenges — and their competitors — while identifying opportunities and solutions.

Here’s a closer look at some of the expectations for the chemical industry this year and how companies can start preparing:

China’s chemical industry will remain a powerhouse

China’s previous growth rate of 8%-10% is predicted to drop to 6% by 2022, a slowdown which not only impacts the Chinese economy, but also other Asian countries that trade with China.

However, the slowdown still leaves China at a greater growth rate than the rest of the world. China is currently the world’s largest consumer of specialty chemicals, which are used in everything from detergents to food to technology.

Plastics and waste recycling will become even more important

Recycling bins.

Single-use plastics have become an environmental target.

Communities and establishments around the world are banning single-use plastics, a move which will create new challenges and opportunities for chemical companies. As the war on plastics continues to rage, recycling and finding greener practices will become top priorities. Chemical companies can join sustainability conversations by developing plastics that are easier to recycle, consume fewer resources, and are manufactured using greener forms of energy.

Customer expectations will increase

In the age of digital communication, customer preferences and expectations across industries are shifting to adapt. Today’s customers expect real-time updates, fast response times, and seamless experiences across devices.

Chemical companies will need to examine ways to improve their existing systems and practices to cater to the customer journey. According to a report by Deloitte, one trend that’s already gaining steam among chemical companies is the introduction of self-service web-based platforms to manage end-to-end customer interactions.

Companies will seek better ways for maintaining regulatory compliance

Compliance.

Chemical companies need an easy way to track compliance activities.

Compliance requirements and regulations continue to evolve in the chemical industry, and companies are continually facing new expectations. In response, businesses should examine new opportunities to better track industry changes and monitor compliance, particularly with digital technology and automation.

Turning to ERP to manage and improve chemical assets

Never has it been more critical for chemical companies to do more with their assets, which is why many companies are turning to the advantages of Sage X3. And since companies are having to adapt rapidly to changing regulations and customer expectations, it’s even more critical to find an ERP partner that can help them implement ERP technology, deliver a smooth deployment, and encourage widespread adoption of a new management tool.

NexTec is a leading provider of ERP implementation and deployment for chemical companies, offering a wealth of industry expertise that can help you get the most potential from your system and position your company for success in 2020. Contact us to learn more about Sage X3 chemical ERP and the results you can expect for your company.

Learn More about ERP

Sage Platinum Reseller

Webcast: 2019 Year-End Closing for Sage X3 (recorded webcast)

By | Recorded webcasts, Sage X3 | No Comments
Sage Enterprise Management

How to create 2020 costs in Sage X3

By | ERP, Sage X3 | No Comments

It’s that time of year! As the new year rolls around, it is time to create your 2020 costs. If you use the Manufacturing Module in Sage X3, you must create standard costs for the new year. You may accomplish this in a number of ways. It can be as simple as copying your costs to the new year or you may wish to go through the exercise of recreating new standards from the lowest level on up. Listed below are a couple of quick examples of how to proceed.

Cost Transfer

Figure 1

  • Navigate to the Cost Transfer function (COPYCOUT) (See Figure 1)

Figure 2

  1. Select All
  2. Select the Company and Site you wish to transfer the costs FROM (See Figure 2)
  3. Select the Cost type
  4. Select the Fiscal Year
  5. Select the Company and Site where you wish to transfer the costs TO
  6. Select the Cost type – Standard
  7. Select the New Fiscal Year
  8. Click OK
  9. Sage returns a log file with all of the copied costs

Cost Calculation

Figure 3

  • Navigate to the Standard Cost Calculation Function (CALCSTSTD) (See Figure 3)

Figure 4

  1. Select your Site
  2. Select All for updating all of your costs for 2020 (See Figure 4)
  3. Select the Date – if you create your standard costs ahead of time – you will “future date” this field. If you are running this after the new year – simply accept the default date.
  4. Select the Routing Code – usually Primary or 1
  5. Select the BOM Code – usually Primary or 1
  6. Select the Material Cost you wish to use to update your Standard Material Costs
  • Standard Cost (2019)
  • Revised Standard
  • Budgeted Cost
  • Simulated Cost
  • Last Cost
  • Average Cost
  • Last Purchased Price
  • List Price
  1. Select “Deferred” if you are running this for a future date (see step 3) -or- Select “Immediate” if you wish the costs to be immediately created
  2. Sage returns a Log File with all of the newly calculated costs

Caution: Changing your standard costs may revalue your inventory and only carries forward on new transactions. Existing transactions will carry the old cost.

If you need additional assistance, please use the form on the right to contact us.

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

Man wearing a hardhat in a chemical plant.

Embracing digital transformation in chemicals: Your ERP is the key

By | Chemicals, ERP, Sage X3 | No Comments
Person wearing a hardhat in a chemical plant.

Chemical companies face increasingly complex compliance demands and customer expectations, all of which can be managed better with ERP software.

The chemical industry continues to embrace digital transformation, albeit at a slower pace than seen in other sectors. Companies in the chemical industry looking to leverage the advantages of digital transformation recognize that an ERP system is key.

Enterprise resource planning (ERP) software helps chemical companies break down silos, drive collaboration and provide visibility throughout the supply chain. Take a closer look at how ERP software can enhance your company’s digital transformation, unleash more potential and solve your greatest challenges.

Facing the complexities of business today

The challenges facing your chemicals business are likely similar to those throughout the industry:

  • Diversification. Global reach means new customers in new regions. Can your company compete with local competitors that despite providing fewer offerings can often react quickly, charge less and operate on a lower cost basis?
  • Global Supply Chain. Global operations means a larger, more complex supply chain. Your business needs visibility across the supply chain to manage quality, availability and accuracy.
  • Demand for Innovation. Your business needs deep intelligence to develop new solutions, capabilities and revenue opportunities. Digital disruption can and must drive this innovation.
  • Regulatory Pressures. Chemical companies are subject to multiple regulatory requirements across multiple regions and countries. You need systems to measure, track and report accurately on all these regulatory obligations. The costs of non-compliance are high.
  • Consistency. Customers demand more variations and specific formulations, meaning you need to provide quality assurance, quality control and efficacy across more categories, more products and more customers.
  • Environmental Responsibility. Customers and consumers expect producers to abide by sustainability and environmental responsibility. This means it’s important to have responsible sourcing and production capabilities.

These challenges are exacerbated by the reluctance to fully embrace digital transformation for many chemical companies. At a recent ARC Industry Forum, ARC’s Mike Williams noted that while most companies have started embracing Industry 4.0, there are some common barriers slowing adaptation:

  • No value proposition
  • Information islands within an existing infrastructure
  • Conflicting organizational design
  • Cybersecurity issues
Person wearing a red hardhat writing on a document.

ERP software can transform your chemical company with deeper supply chain visibility and integrated data that automates processes that have been done manually.

Embracing digital transformation with Sage X3

Chemical companies need an ERP solution that’s designed for their unique needs. With Sage X3, you have an ERP platform that provides full integration, transparency, security and intuitive interfaces across all aspects of your operation. Instead of operating across multiple systems, Sage X3 brings together key functional areas in one platform from your laboratories, manufacturing, supply chain and financial operations including:

  • Inventory
  • Sales
  • Customer service
  • Financial management
  • Purchasing
  • Manufacturing

Sage X3 for chemical companies breaks down the organizational silos that can plague efficiency and collaboration, resulting in operational inefficiency and more data errors. Among the improvements you gain are:

  • Measurement conversion
  • Create GHS-compliant data sheets
  • Track batch yields
  • Track labor by customer
  • Mobility functionality that gives your field teams what they need, including:
    • Real-time inventory updates
    • Faster communication and approvals
    • Access to limited-time offers and promotions
  • Integration across currencies, languages, sites, countries, and regulations

Sage X3 accelerates your digital transformation in significant ways. At NexTec, we help companies solve complex business software challenges at each stage, from selection to installation to optimization. With NexTec and Sage X3, you have the best of both worlds – exceptional ERP solutions and expert consultation and insights.

Take a free tour of Sage X3.

Farmer sitting in a green house typing on a laptop.

Enterprise resource planning and sustainability in agriculture

By | Agriculture, ERP, Sage X3 | No Comments
Farmer in a large greenhouse typing on a laptop computer.

Agricultural businesses need the right ERP to fully commit to sustainability efforts.

While sustainability is an important issue in many industries, it’s critically important in agriculture. Technology, including enterprise resource planning (ERP) solutions, can play an important role in sustainability for agribusinesses.

When it comes to enterprise resource planning and sustainability in agriculture, Sage X3 has the functionality and industry-specific features that help companies thrive.

Defining sustainable agriculture

Sustainable agriculture is a focus on practices that provide for society’s current food needs without jeopardizing future generations’ ability to meet their needs. Sustainability in agribusiness means maintaining a healthy environment while continuing to be profitable.

The challenge is that for many big agribusinesses, sustainability has not always been a top priority. A recent Medium article notes that at big farms “ideas around environmental sustainability are not only a low priority, they’re simply not discussed.” At smaller farms, while there is more discussion of sustainability, it’s sometimes just used for marketing purposes.

“Many of the farmers who care the most about sustainability can’t afford to put it into practice,” the article notes. “Raising plants and animals in a way that benefits (or at least doesn’t harm) the earth, the farmworkers, the animals, and the consumers is incredibly expensive. And Americans don’t like to pay a lot for food.”

Two farmers walking in their field.

Retailers and consumers alike are demanding more commitment to sustainability.

Why technology will make a difference

The reality is that the importance of sustainability is growing, driven by both corporations and customers.

On the corporate side, retailers are looking to their suppliers to demonstrate a commitment to and actions that drive sustainability across the board. Walmart, for example, has implemented a Sustainability Index program. The index collects and analyzes data on each product’s lifecycle, working with suppliers to improve sustainability efforts. Walmart provides suppliers with their scores, how they rank in comparison with other suppliers in the same field, and insights on how to improve sustainability.

At a more granular level, the Roundtable on Sustainable Palm Oil requires companies to comply with environmental and social criteria to be certified as a sustainable product.

Consumers are driving some of the corporate work, while the use of social media allows for consumer voices to be amplified and connected on sustainability issues.

For agribusinesses, having an ERP that tracks and demonstrates sustainability is critical. In many cases, these issues relate to inefficiencies in supply chain management. Here are some of the ways the right ERP solution can help:

  • Resource Efficiency. Supply chain optimization can reduce transportation mileage at each stage, reducing emissions and environmental impact.
  • Shipment Management. When suppliers and partners are not communicating well or have inadequate, incorrect or different information, shipments, ingredients, and products suffer.
  • Inventory Management. Agile supply chain management means a responsive, flexible and quick approach to day-to-day operations. This approach may have the greatest impact on inventory management, with real-time data on existing stock and expiration dates to ensure that the right ingredients and products are used in the right order.
  • Wastage Management. When you have better systems for predicting usage and tracking your supply chain, you can reduce the amount of waste, a powerful measure that can be used internally and externally.

Sage X3 provides agribusinesses with integrated functions designed to serve the industry. NexTec provides guidance on the selection, implementation, and optimization of agriculture ERP solutions.

Learn more about how Sage and NexTec can help your agribusiness improve its commitment to sustainability. Take a free tour of Sage X3 to learn more.

 

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

Man in a hard hat pointing to pipes.

Ask these 6 questions before choosing your chemical industry ERP

By | Chemicals, ERP, Sage X3 | No Comments
Man in a hardhat pointing to pipes.

Chemical companies looking for an ERP should make sure to ask questions about key functions and capabilities.

There’s no question chemical companies need a powerful enterprise resource planning (ERP) software. Faced with more regulations than ever and increasingly complex supply chains, companies need to choose an ERP that’s designed to address specific industry challenges.

Before choosing a chemical ERP, it’s important to get the right information. Ask these 6 questions before choosing your chemical industry ERP.

1. Can your ERP track and display inventory in multiple units of measure?

Different measurement units for weights and volume are necessary in the chemical industry, and your ERP should be able to support and convert measures for use in receiving, storing, making and selling products. Static conversions are inadequate when there are density variances, for example, in lots or batches. Conversions and flexibility are necessary when multiple packaging sizes are used for the same product.

2. Can actual costs be tracked and compared to estimated costs?

Tracking actuals compared to estimated costs is an important consideration for chemical companies. Understanding inventory valuations and accurate production costs gives you powerful insights. They allow comparisons against industry or historical standards, input error reductions and inclusion of non-production costs to provide more accurate overall costs of goods.

3. Is your ERP agile?

Customer expectations and demands are changing rapidly. That’s why you need an ERP that can respond to changing customer needs and wants. You want to be sure that the ERP you select can anticipate and react quickly to rapidly changing customer requests, products, partners and suppliers. Your ERP needs to be able to adapt and add classifications, formulas, specifications, byproducts and business rules to accommodate the ever-evolving customer needs.

Man in a hard hat working on a tablet.

Chemical companies need an ERP that can optimize new and emerging technologies.

4. Can your ERP incorporate emerging technologies?

Big data and data analytics give chemical companies extraordinary opportunities for more efficient operations and deeper insights. Make sure your chemical ERP uses or easily integrates with these technologies to collect, use and distribute data to those who need it. Your ERP should provide greater transparency both internally and throughout the supply chain.

5. How does your ERP keep data secure?

Data is increasingly an asset for use both within your business and, unfortunately, by hackers. Keeping data protected while in transit and at rest is critically important, especially for regulatory compliance. While your ERP cannot be the sole source of your company’s data security solution, it should have functionality and intersectionality with your security mechanisms.

6. What mobile functionality is available?

Executives need access to dashboards, reports and data no matter where they are or what device they are using. Ask about the functionality and access to information across mobile devices. The same information accessible on a desktop computer should be available on a tablet or smartphone.

Sage X3 offers your chemical company:

  • Supply optimization to respond to customer demands and frequent changes to purchasing, production and shipping
  • Process and product consistency to ensure quality, consistency, safety and efficacy
  • Global compliance across currencies, regions and regulations
  • Inventory control to deliver accurate production forecasting, material needs and inventory optimization
  • Anytime/anywhere access with web-based interfaces

NexTec is a Sage Platinum Reseller, offering chemical companies the expertise to deploy and optimize your Sage X3 solution and provide swift ROI. Learn more about how NexTec and Sage X3 can improve efficacy and efficiency for your chemical company. Give Sage X3 a try.

Sage Platinum Reseller