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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.
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.
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.
Food manufacturers find non-contact level sensors attractive for a number of reasons. Of course, since nothing comes into contact with the material, there’s no risk of equipment interfering with the process or rogue parts breaking off and getting stuck in equipment or contaminating ingredients intended for human consumption. Plus, they provide continuous level measurement for optimizing inventory and preventing silos from running empty. No food manufacturer wants to risk tagging a bad batch due to a missing ingredient. Today’s most popular non-contact technologies are laser, radar, and 3D scanners.
The only sensor to measure and map the material surface, BinMaster’s 3DLevelScanner sends pulses in a 70° beam angle, taking multiple level measurements and accounting for uneven surface topography in bins, tanks, and silos when calculating volume. Each sensor comes with 3DVision software that reports the lowest and highest points detected and the average level based upon a weighted average of all measurements in the bin.
The Baking Industry knows that every pound of ingredient counts towards the bottom line. Changing production lines cannot take long. Cleanups and start-ups all pull production from the bottom line. Product shortages cannot be tolerated and BinMaster 3DLevelScanner can continuously monitor ingredient inventory in silos so managers aren't caught off guard. Inventory levels can be sent to a cloud report to maximize ordering and ingredient reloading practices.
Quarries, cement plants, construction suppliers, and building contractors who rely on trucks to move goods have not been immune to the chaos COVID-19 has placed on the supply chain. Both level sensors and CementView. Cloud-based software, designed for the cement industry with a specialized ‘truckloads’ feature, is helping cement plants manage dispatch, drivers, orders, and deliveries.
Inventory management can be complicated, but it certainly doesn't need to be! In the transition to Industry 5.0, operators are seeking smart systems to give their team real-time visibility into bulk inventory, helping them anticipate future needs and prevent costly downtime due to outages, dry...
