Are you ready to uncover the potential of your MYOB Advanced Manufacturing software? MYOB recently revealed exciting Advanced Manufacturing updates in the Q2 2023 product showcase. These improvements are tailor-made for MYOB Advanced Manufacturer users. They aim to address your current challenges. Expect a significant boost in your operational efficiency and productivity.
Join us as we examine these notable changes. We’ll discuss their implications. Discover how they can lift your manufacturing prowess.
New features on MYOB Advanced Manufacturing
Here are the key highlights of the new features:
1. Multi Base Currency – MYOB Advanced Manufacturing can now be deployed to allow multiple companies within the same tenant to have different base currencies.
2. Exceeding Quantity Reporting – Additional preference to Production Order Types that controls if the system should ‘Allow’, ‘Warn’ or ‘Do Not Allow’ reporting quantity exceeding the production order quantity to produce on any or all operations
3. New Clock Entry Screen – Ability for users to clock on to multiple production orders at once.
We’ll provide a deep dive into these new features within this blog so make sure to read up to the last part.
Exploring Multi Base Currency Changes
One significant change in the autumn release is the introduction of multi-base currency changes. Previously, MYOB Advanced Manufacturing didn’t support multi-company transactions within one tenant. This posed a challenge for multinational manufacturers in different regions.
Now, with substantial modifications, the manufacturing edition supports organisations having multiple companies within the same tenant, each with a different base currency.
This change enables these companies to transact with a shared list of stock items, facilitating scaling of operations internationally and capturing new markets and opportunities.
Whether you’re viewing costs in US dollars or Australian dollars, the system ensures that costs are maintained accurately in the appropriate base currency. This extends to Bill of Materials (BoM) which can now also be shared across multiple companies, regardless of their base currency.
Managing Excess Quantity Reporting
In any manufacturing process, precise control over quantities is crucial for accurate costings and minimising waste. To this end, the Q2 2023 Advanced Manufacturing updates introduce a control feature for managing excess quantities reported during production.
Prior to this update, if a shop floor employee mistakenly entered excessive quantities during a move transaction or labour transaction against a production order, the system did not prevent or warn against over completions. The result was potential inaccuracies in production order costings.
Now, MYOB Advanced Manufacturing includes a preference in the production order types that control if the system should warn or not allow reporting of quantities exceeding the production order quantity.
This new feature helps eliminate mistakes during production feedback events and helps control costs through ensuring data integrity at the time of capture.
Streamlining Clock Entry Process
For shop floor personnel, the new multiple production clock entry screen is a game-changer. Traditionally, apportioning time equally across multiple production orders was a manual and time-consuming process.
The new form, called “Multiple Production Clock Entry,” allows shop floor staff to clock on and off multiple production orders at various times. This enables the capturing of labour across operations pertaining to different productions, streamlining the clock entry process and enhancing productivity.
For instance, a user can now clock into two production orders at once. The system will evenly split their time between both orders. This upgrade simplifies time capture for shop floor staff. It also enhances efficiency in busy production environments by removing manual time allocation.
The Q2 2023 MYOB Advanced Manufacturing updates bring you significant improvements to address the unique needs of advanced manufacturing.
With the ability to support multiple base currencies, prevent over completions, and streamline clock entry processes, you’re better equipped to elevate your manufacturing operations, control costs, and increase productivity.
Always stay tuned to our product showcases to ensure you are leveraging the maximum potential of your MYOB Advanced Manufacturing software. Embrace these updates, and let’s move towards a more efficient and prosperous manufacturing future.
Need Help Navigating the Updates?
These MYOB Advanced Manufacturing updates hold the potential to take your operations to the next level. But we understand that navigating new updates can be challenging. That is why we’ve got your back.
Our expert MYOB Advanced consultants are on hand to guide you through these changes, ensuring you extract maximum benefit. We’re committed to helping you improve efficiency, control costs, and streamline production.
Don’t let these updates pass you by – contact us today and let’s unlock the potential of these innovative features together.