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Inventory Management Transformation at North Texas Pressure Vessels, Inc.
North Texas Pressure Vessels, Inc. (NTPV) was facing a significant challenge with their inventory management. The company had no inventory management system in place, leading to inaccurate values and quantities of inventory. There were no item numbers, and purchasing relied on multiple spreadsheets to determine if there was enough inventory on hand for the production schedule. Inventory costs were not accurate and not up to date, which led to difficulties in pricing jobs accurately due to the lack of true costing of the inventory. The company's existing system, Sage 50, did not have the necessary functionality. Furthermore, the cost of processing Purchase Orders was extremely high, indicating inefficiencies in the purchasing activities.
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