Get a full overview of real cost prices in production, to ensure goods are sold at the right price
Extended Manufacturing Registration is a tool that lets you control your organization’s production professionally, because you can register production costs subsequently.
With Extended Manufacturing Registration, you and your employees can subsequently register costs related to otherwise closed production orders, as well as make any corrections to the order. It gives you a full overview of real cost prices, meaning items are sold at the right price.
Overview of real cost prices in production
The key to success and earnings is often knowing exactly what your goods cost to produce. Without that information, it is difficult to price the items correctly. This can result in products being more expensive to produce than estimated, sellers receiving a bonus for earnings never made, and goods simply being sold too cheap. In the standard Microsoft Dynamics 365 Business Central and Dynamics NAV setup, you can only post-register costs for goods you have purchased. But what about goods your organization has produced? We have resolved this for you with Extended Manufacturing Registration.
Key benefits of Extended Manufacturing Registration
- Access to correct errors, even if a production order has been closed
- Better control of cost prices and thus giving you a better handle on pricing
- You can register if a wrong lot number was stated. This is very important when you need to know exactly what went into the production
- If something needs to be recalled on a production order, you can be sure you only recall the “right” goods
How does it work?
With Extended Manufacturing Registration, you can record costs, even if a production order has been closed. This could be an adjustment of time and goods consumption for the actual production order, or a subsequent adjustment of, e.g., freight and fees. This way you can impute the full production price for the product to establish the real sales price. It also means the tool lets you make corrections, including changing or adding consumption of components that are tracked. For organizations that are subject to item tracking legislation, it is critical that the consumed material is complete and accurate. In other cases, it can result in larger than necessary product recalls if you are not in control of what has been used in the production.
Who can use Extended Manufacturing Registration?
All production companies with small margins in production and those who want full control of their cost prices can benefit from using Extended Manufacturing Registration. We also have customers who are subject to goods tracking requirements, for instance in the medical and food industry.
Learn more about Extended Manufacturing Registration
“Extended Manufacturing Registration helps you run a professional production company that knows precisely what it costs to produce the goods”
Thomas Stryhn, CEO
ProFacto A/S
