The end of the year is a critical time for manufacturers to assess their operations, optimize their business software and procedural systems, and set a clear path for success in the new year. With so many moving parts in manufacturing, having a structured checklist ensures nothing is overlooked. Here’s a comprehensive guide to help you close out 2024 and start 2025 on the right foot.
1. Review Inventory and Optimize Stock Levels
Inventory management is crucial as you head into a new year.
Conduct a physical inventory check: Ensure actual counts match your system data.
Review slow-moving or obsolete inventory: Consider selling off or repurposing items to free up space and capital.
Update inventory data in your ERP system: Accurate data ensures smoother operations in 2025.
2. Update and Cleanse ERP and Software Data
Your ERP and software systems are only as good as the data it holds and the training of your staff. SYSPRO can consolidate this into one place and add best practices that are proven to work in your industry.
Verify customer and vendor records: Ensure all contact details, terms, and payment statuses are accurate.
Check for data discrepancies: Identify and fix issues like duplicate records or outdated entries.
Back up your system: Secure your data to prevent loss during year-end transitions.
3. Analyze Key Performance Indicators (KPIs)
Year-end is the perfect time to review your performance metrics and refine your goals.
Review KPIs for 2024: Assess metrics like production efficiency, order fulfillment rates, and cost management.
Set benchmarks for 2025: Use this year’s insights to set realistic, growth-oriented goals.
Leverage ERP and software analytics tools: Embedded dashboards can provide valuable real-time insights to guide decision-making.
4. Prepare Financial Reports and Reconcile Accounts
Financial accuracy is essential for compliance and planning.
Reconcile accounts: Ensure all transactions are accounted for and match your software system(s).
Prepare tax documents: Use your ERP’s financial modules to organize data for year-end reporting.
Review cash flow: Identify trends and areas to optimize in 2025.
5. Plan for System Upgrades and Training
Ensure your team and technology are ready to take on the challenges of a new year.
Review your ERP and software system(s): Identify potential updates or add-ons that can enhance functionality.
Schedule employee training: Ensure your team is equipped to maximize features.
Evaluate cybersecurity measures: Protect your operations from increasing cyber threats.
Conclusion
A thorough year-end review and checklist can set your manufacturing operations up for success in 2025. From inventory management to financial reporting, every step ensures your business is primed for growth and efficiency. Take the time now to prepare, and you’ll thank yourself when the new year starts smoothly.
Ready to maximize your ERP system in 2025? Contact MepApps today to learn how we can help streamline your workflows and optimize your operations. If you need help with these processes please reach out to Kim Prevost @MepApps, 832.832.0988 talk or txt or email Kim.P@MepApps.com.
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