An efficient transition to a new inventory management system

BACKGROUND

Paneltec supplies high quality, decorative laminated panels for building facades and interiors to installers throughout New Zealand. The panels are manufactured at Paneltec’s factories overseas, and are warehoused at the company headquarters in Dargaville, Northland, for cladding on commercial buildings and high-end homes and apartments.

THE PROBLEM

Paneltec was made a separate entity from its parent company at the beginning of the tax year. This provided Paneltec with the opportunity to install a new system to manage its sales orders, stock purchases, and inventory. To date, Paneltec had been using the parent company’s system, but found it to be complicated, lacking in reporting functionality, and not user friendly.

Company Director, Judah Simpkin, was keen to use the change in business structure as an opportunity to move away from the legacy system, to software that better suited its needs.

Paneltec also needed a solution that would be cost-effective for a small business consisting of a team of three people. Additionally, the software needed to interface with Xero, and support multiple currencies as Paneltec imports its products from its overseas factories. Accurate inventory management, reordering, cost management, and pricing were key areas that the software solution needed to address.

THE SOLUTION

Judah Simpkin researched available software options, and identified that Unleashed provided the functionality that was needed, and at a cost-effective price.

To make the transition to the new software, Judah Simpkin required an Unleashed Implementation Partner to manage and implement the new system. Empower Business & Accounting Solutions was selected, due to a recommendation from a local business, as being competent, easy to work with, and with good communication.

The work completed by Empower Business involved the following tasks, completed at a fixed price:

• Data on customers, suppliers and products was converted from the existing system to Unleashed.
• Customised form layouts and other set up tasks were completed.
• Two full-day sessions onsite at the Paneltec office in Dargaville for additional setup plus training.

OUTCOMES

Paneltec has a cost-effective inventory management system that suits its needs. The software was implemented efficiently and with good communication and support from Empower Business.

Paneltec is now able to undertake:

• Accurate purchasing and product costing.
• Accurate and complete stock valuation, including batch control.
• Full sales management, from quote, to order, to dispatch and invoice.
• Accurate accounting and financial reports in Xero.