Features
The Datatex Costing Module is a core component of the NOW ERP for Textile and Apparel Industry, designed to handle complex cost calculations and provide accurate financial insights in a constantly evolving textile and garment industry.
Fully integrated with all other NOW ERP modules, the Datatex Costing Module can transform your cost management strategy by ensuring data-driven decisions and optimizing production costs prior to accepting the order or starting its production.
Key Features:
• Multi-Scenario Costing: Supports Multi-Plant, Multi-Bill of Materials (BoM), and Multi-Routing scenarios for comprehensive product costing.
• Flexible Costing Methods: Manages Price Simulation, Standard, Budgeted, and Actual Costing, tailored to your organization’s needs.
• Dynamic Cost Calculation: Calculates both standard and real costs dynamically for various production alternatives.
• Granular Cost Analysis: Analyzes costs at multiple levels, including:
· Article, Production Unit, and Lot (Order/Demand) Level
· Cost Element, Cost Group, and Cost Center/Work Center Level
• Plan vs. Actual Cost Comparisons: Real-time cost tracking enables comparisons between standard, planned, and actual costs throughout the production process.
• Full Costing Approach: Ensures a complete overview of all direct and indirect costs, allocating them appropriately for better financial control.
• Internal Price List Integration: Uses historical data and market trends to estimate and assign costs dynamically.
• Simulation and Forecasting: Conducts parallel calculations based on alternative production scenarios, helping businesses optimize their pricing strategies.
Benefits
• Accurate Cost Estimation: Gain a clear understanding of product costs based on variations in production plants, order sizes, and processes.
• Cost and margin driven order acceptance.
• Customizable Costing Strategies: Implement cost-plus pricing or target pricing to align with market conditions and business goals.
• Multiple Cost Versions & Simulations: Create and compare different cost versions and simulation groups for better decision-making.
• Enhanced Profitability and margin Analysis: Define production plans by period to determine contribution margins and optimize resource allocation.
• Automated Cost Calculations: Automatically calculate standard costs per item, Bill of Materials, and work cycles with real-time updates.
• Improved Cost Control & Transparency: Assign direct and indirect costs efficiently, ensuring precise financial reporting and budgeting.
• Optimized Pricing & Profitability Analysis: Simulate pricing scenarios using the Pricing Simulation function to align with business targets.
