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Jenny Nielson Christensen is Vice President of Marketing for BinMaster, located in Lincoln, Nebraska, USA. Since 2008, her mission has been to help people and plants all over the world get a better understanding of their inventory, and the sensors and software that help make their jobs safer and easier. She is a 40-year multi-disciplinary veteran of B2B and B2C marketing in the technology, industrial manufacturing, consumer packaged goods, and government/military industries.
Accounting professionals and bulk operators grapple with inventory accuracy challenges that impact financial statements and operations planning. Traditional measurement (tapes and spreadsheets) often result in substantial discrepancies.
Precise inventory data plays a pivotal role in several key areas. It ensures financial reports, including balance sheets and income statements, accurately reflect the company’s position.
This accuracy is crucial for tax planning, helping avoid overstated profits that could lead to overpayment of estimated taxes. Correct inventory levels are essential for optimizing working capital management and cash flow, preventing unnecessary purchases. In cost accounting, accurate data provides a clearer understanding of the true costs of goods sold. Learn how BinCloud® provides this valuable accuracy to operators worldwide.
Food, consumer products, packaging…nearly everything…involves the use of bulk solids at some point during their manufacture. In the retail world, inventory record accuracy costs an average of 1.75% loss of revenue. Their suppliers also suffer up to 0.73% loss of revenue. In a world of Industry 4.0 and block chain practices, a discrepancy with inventory measurements undermines inventory control, makes ordering decisions ineffective and results in poor delivery and higher inventory costs.
While manufacturing managers were implementing the Industry 4.0 philosophy, COVID-19 hit. The pandemic brought worker and supply chain shortages and accelerated the effort to boost technology in manufacturing. BinMastersensors and software fit perfectly into Industry 4.0 goals.
The grain industry faces many challenges in managing inventory in large bins where a single vessel may hold a million bushels, making "binventory" crucial to the profitability of an operation. This white paper discusses how continuous-level sensors can be sued for accurate inventory management for local or company-wide monitoring. The are various options available for data reporting, including cloud-based applications, software, consoles, and automated text and email alerts. Learn about matching the right type of sensor for your operation for bins large and small, plus how point-level indicators can be applied for affordable high and low-level alert conditions.
Point-level sensors are inexpensive, easy to use, and durable, but you gotta choose the right one for the right situation. Proper level measurements, alarms, and inventory control should involve more than eny, meeny, miny, mo, and BinMaster representatives can help.
Many feed mills, grain storage facilities, and pet food plants are big in size and small on staff. Making bin inventory management available anywhere anytime enables people to be more efficient in their jobs. Today, a simple log into a website using an app or Software as a Service program puts real-time data in front of people who need it to make timely decisions. Improvements in processing efficiency, ordering, and delivery schedules, eliminating material shortages, and reducing carrying costs are just a few of the benefits of monitoring bin levels while on-site or off-premises. Automated alerts via text or email allow for proactive actions that can add to a mill’s bottom line.
For improved inventory accuracy in silos, tanks, and bins, multiple-point measurement is always better when compared to single-point measurement. Acoustical-based technology includes multiple-point measurement and uses 3D mapping software that shows the bin’s topography to provide volume precision that is better than single-point measurement devices.
Poultry operations require a variety of bulk materials with everything from liquified fat to lime and grains. A Midwest-based poultry feed mill faced a very tedious and manual inventory process before BinMaster brought solutions. Raising livestock requires tight control of what materials are ordered, how long feed is stored, and when feed is running out and needs to be restocked.
Ethanol operations face plenty of challenges including bulk inventory measurement. Dust, accuracy, and reliability all must be considered with raw material storage. Our case study looks at extreme amounts of dust - especially during fill rates of up to 580 tons per hour - which made it extremely difficult to track the filling and emptying processes. Using just a single measurement did not account for the topography of material in bins. Multiple points created an average-level measurement.
Accounting professionals and bulk operators grapple with inventory accuracy challenges that impact financial statements and operations planning. Traditional measurement (tapes and spreadsheets) often result in substantial discrepancies. Precise inventory data plays a pivotal role in several key...
Food, consumer products, packaging…nearly everything…involves the use of bulk solids at some point during their manufacture. In the retail world, inventory record accuracy costs an average of 1.75% loss of revenue. Their suppliers also suffer up to 0.73% loss of revenue. In a world of Industry 4.0...