Product innovation, continual improvement of operational performance, and steadily growing profit margins are essential to the success of competitive manufacturers today. These organizations face intense pressure to increase margins while working with unpredictable global supply chains, ensure compliance in an aggressive and complicated regulatory environment, and mitigate all types of risks from labor shortages to IT security.
With CaseWare IDEA® data analytics software, manufacturers can transform their raw data into a true competitive advantage. Audimation helps forward-thinking manufacturers leverage their immense quantities of data, unlocking a wealth of valuable insight. Supporting more informed forecasting, demand planning, sourcing, production and distribution, this new understanding empowers organizations to clearly see and intelligently respond to their opportunities and challenges.
Success Story
Lehigh Hanson Uses IDEA Server to Support Global Auditors & Directors
With CaseWare IDEA data analytics software, Audimation enables manufacturers to:
Gather raw data from disparate systems and source types and import it into a single platform
Gain greater understanding of all available data, while ensuring data accuracy and security
More efficiently manage workload, time and resources
Analyze financial records, statements, transactions and expenditures, operations information and internal controls from the beginning to end of the manufacturing process
Apply analytic techniques to predict and identify fraud, waste and abuse in the supply chain
Ensure accurate purchasing practices by setting up tests to monitor critical data fields
Track and analyze sales, warranty and inventory data to ensure accuracy, track trends and identify anomalies
Use data visualization to depict important information about key findings
Automate repeatable processes to increase efficiency, streamline processes and flag unusual transactions
Ensure accountability and regulatory compliance
Analyses
Age stock by date of receipt. Compute the number of months of stock for each item held based on either sales or purchases. Produce a summary of this information.
Stratify balances by value bands
Analyze usage and ordering to improve turnover
Summarize products by group, location, and type
Create a report of products in order of profitability
Reconcile physical counts to computed amounts
Calculations
Cast (or total) the file, providing sub-totals of the categories of inventory
Re-perform any calculations involved in arriving at the final stock quantities and values
Re-perform material and labor cost calculations on assembled items
Gaps and Duplicates
Test for missing stock ticket numbers
Test for missing transaction numbers
Identify duplicate stock items
Exception Tests
Identify and total stock held in excess of maximum and minimum stock levels
Identify and total obsolete or damaged stock
Identify any items with excessive or negligible selling or cost prices
Identify differences arising from physical stock counts
Test for movements with dates or reference numbers not in the correct period (cut off)
Identify balances which include unusual items (e.g., adjustments)
Identify work in progress which has been open for an unreasonable period
Identify stocks acquired from group companies
Isolate products with costs greater than retail price, with zero quantities, or with zero prices
Matching and Comparing
Compare files at two dates to identify new or deleted stock lines or to identify significant fluctuations in cost or selling price
Compare cost and selling price and identify items where cost exceeds net realizable value
Compare the value of physical counts to General Ledger amounts
Check work orders for accuracy against original sales orders
Cash Disbursements
Reconcile inter-company transfers
Summarize cash disbursements by account, bank, group, and vendor
Generate vendor cash activity summaries for contract negotiations
Works-in-Progress
Merge products on work orders and sale as orders for new demand analysis
Use net demand analysis against inventory and purchase orders to generate a quick material requirement planning report
Check work orders by size, priority, and for lease to shop floor
Produce shop floor activity reports by any item
Generate comparison of planned versus actual labor, materials, and time
Reconcile job tickets or time cards to work order line items
