The footwear industry is a huge business spread globally. Providing a variety of footwear designs to men, women, and children, this industry has a lot to supply. To manage the manufacturing of footwear, a centralized ERP is required with MPS.
MPS (Master Production Schedule) is the backbone of a manufacturing company. This feature is available in Odoo ERP only in the enterprise edition. Generally, manufacturers produce items in large quantities.MPS in Odoo thus be used to effectively plan production.
MPS acts as a link between the manufacturing and sales divisions. It helps in outlining the items that must be produced in a specified amount and time. The MPS in Odoo ERP will compute demand based on predicted demand. Moreover, if the estimation falls below or above the real demand, it can be modified easily.
Every manufacturing industry looks for the software that can manage production units, give a quick overview of the inventory, and manage demands. Using the Odoo MPS feature for the footwear manufacturing industry will help in the following:
- Helps manage stockouts.
- Adapting to changes in the supply chain.
- Cost-cutting measures are being implemented.
- Improving the efficiency of manufacturing.
Let’s see how to enable MPS in Odoo 15 and understand its usage.
Enabling Master Production Schedule in Odoo 15
Go to the Manufacturing Module in Odoo 15 or any version that you are using. Go to Configuration>Settings>enable Master Production Schedule as shown below:
According to your production requirements, you can select the time range and number of columns. In the further sections, we will talk about the usage of MPS in the manufacturing industry.
Use of The Master Production Schedule
Odoo’s Master Production Schedule is divided into three sections:
- Forecasting, and
Let’s uncover the potential of each part and learn how it can be beneficial for Footwear Manufacturing ERP.
Estimating Production Demand in Odoo MPS
To estimate the production schedule, you may choose the data to display in the Odoo Master Production Schedule (MPS) view.
Go to Planning>Select Master Production Schedule
In the ‘Rows’ section, you will find 10 options that will be displayed on the screen when selected.
Now add a product:
Click on the ‘Add a Product’ button, and add product details as per your requirements.
Safety Stock Target: The quantity of stock that should be on hand as a safety stock at the conclusion of the term.
Minimum to Replenish: This field refers to the minimum number of stocks to replenish.
Maximum to Replenish: The maximum quantity of stock that can be replenished.
Once you enter all the required values, click on the ‘Save’ button. You will find your product to be listed in the table given below:
Forecasted Demand is the stock’s projected demand for the current month. This value must be manually inputted.
The quantity to be replaced via purchase order or manufacture order is known as the Suggested Replenishment.
Next, Forecasted Stock is the amount of merchandise that we expect to have in stock at the end of each month. This anticipated stock will be the beginning stock for the following period or month.
Forecasting Production Scheduler in Odoo MPS
Forecasting is an important step in the footwear industry. The Footwear Manufacturing ERP allows users to predict the actual demand based on the estimated demand for the product.
The production amount to refill for different times will be determined after the forecasted demand has been estimated and specified.
The replenishments that should be launched based on the vendor lead time or production lead time are then highlighted in green.
MPS in the Manufacturing industry allows a company to invest its resources in what is necessary.
You may now start the restocking (replenishing) process by clicking the ‘Replenish’ button.
→ Note: Requests for quotations or production orders will be generated depending on the product configuration (purchase vs. manufacture).
Managing Production Schedule in Odoo MPS
Odoo ERP for the footwear industry is beneficial in many ways. It can help predict stock, and allow business owners to take further steps accordingly.
In order to calculate the forecast stock, MPS ERP plays an important role. Forecasted Stock is the amount of merchandise that we expect to have in stock at the month’s end. This forecasted stock will now be the launching stock for the following period or month.
The formula to calculate Forecast Stock is:
Forecast Stock=Starting Inventory-Forecast Demand-Indirect Demand Forecast+Suggested Replenishment
The Safety stock Target, Minimum to Replenish, and Maximum to Replenish quantities can be modified using the given button marked with a red arrow:
Once done, apply the above formula to find the forecasted stock.
Here it is,
Therefore, the Forecast Stock is 50 for the particular month.
MPS Cell Color Significance
There are specific cell colors that represent specific meanings. Read further to know what different cell colors stand for:
Grey: a replenishment order has been generated, and the quantity still corresponds to current data.
Green: the number of items that need to be renewed to reach the predicted safety stock, taking into account the demand prediction and the indirect demand projection.
Orange: a replacement order has already been generated, but its quantity was insufficient based on current data.
Red: a replenishment order has already been created, and the quantity was excessively large in comparison to the present data.
If you require Odoo Development Services, connect with our expert team. We are available 24X7 for your assistance.
The Odoo 15 Manufacturing Module is no doubt an effective solution for the footwear industry or more. In order to increase the efficiency of this module and Odoo ERP, Ksolves Odoo applications are helping businesses to grow.
Odoo Products That Depicts Business Growth
BI Dashboard improves productivity, efficiency, and performance of the business. The Odoo Dashboard Ninja app assists in the creation of appealing, personalized, and strong dashboards for your various departments.
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Gantt View Manufacturing can help you stay on top of your manufacturing order timelines and achieve deadlines. It displays all of your manufacturing orders on a graphic timeline, including deadlines, resources, dependent tasks, orders, and more, allowing managers to make responsible choices.
Odoo MPS for Manufacturing Planning is effective as we have discussed above. Moreover, installing Odoo Gantt View Manufacturing in your ERP will help you speed up your footwear manufacturing process.
You can monitor the tasks and set priorities as per the business requirement.
With the ML (Machine Learning) algorithms in Odoo ERP, it is now simple to analyze your company’s past data and predict the trajectory of your upcoming sales based on the data obtained. Sales forecasting assists in the methodical management of your company operations by forecasting the availability and sales of your items in accordance with demand and reducing wasteful spending.
This app will help you predict future sales based on your current or past sales data.
To know how this application works for your manufacturing business, connect with us!
Footwear is the most stylish accessory on the market. The footwear manufacturing industry has to go through multiple processes before producing a product. In order to manage and monitor all the manufacturing processes in one go, Odoo MPS is vital.
With that being said, the outstanding Odoo ERP products as mentioned in the write-up improve business by 5X.
Get the latest updates on what’s new for the manufacturing industry in the market with us! Connect with us for more information at the given credentials:
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Frequently Asked Questions
1. What is MPS in Odoo ERP?
MPS stands for Master Production Schedule, and it is an important tool for planning production based on demand forecasts.
2. Can I get a consultation service on the Odoo products?
Yes, Ksolves offer consultation services on Odoo products based on business requirements. Connect with us and tell us your query. Our team will shortly connect with you.
3. Where can I purchase Ksolves Odoo products?
You can purchase our products from Ksolves Store and Odoo App Store.