Metal Trading Solutions have become indispensable for steel fabrication companies, offering many benefits that help optimize operations, improve resource management, and improve overall efficiency. By leveraging ERP, steel fabricators can streamline production planning and control, efficiently manage inventory, integrate their supply chain, and provide reporting and asset management. Adopting ERP technology enables steel fabricators to stay competitive, achieve operational excellence, and drive business growth in a rapidly changing industry.
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A presentation given by Gustav Rosén, CEO & Integration Architect, Entiros Integrations, and Rickard Jacobsson, IT Integrations Manager, GANT, at our 2023 Platform Summit, October 17-18, 2023.
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Read our latest Whitepaper to know the top 10 critical steps that Small & Medium manufacturers should undertake immediately. These 10 critical steps will help them to automate their workflows, improve their day to day operations, control operational and overhead costs, increase machine, material and manpower utilization, improve supplier and customer relationships, and increase profitability.
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Adopting Axolon ERP software UAE for inventory management as technology develops becomes not only a best practice but a strategic need in the changing world of metal manufacturing. https://axolonerp.com/
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
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ERP Advantages for the Steel Manufacturing Industry.pdf
1. ERP Advantages for the Steel Manufacturing
Industry
Efficient inventory management:
Effective inventory management is vital in the steel industry to ensure smooth
operations, minimize stock outs and control costs. The ERP system provides powerful
inventory management functionality tailored to the specific needs of the steel industry.
Manufacturers can track raw materials, semi-finished products and finished products
and monitor inventory levels in real time. By integrating an ERP system with barcodes
or RFID technology, steel fabricators can automate the process of accurately collecting
inventory data. This automation eliminates manual data entry errors and provides a
comprehensive view of inventory across multiple sites. With accurate, real-time
inventory information, manufacturers can optimize inventory levels, reduce cost of
ownership, and improve production planning.
Seamless supply chain integration:
The steel industry relies heavily on complex supply chains, including suppliers,
distributors and customers. ERP systems facilitate seamless supply chain integration by
providing modules for supplier management, purchasing, and logistics. Manufacturers
can streamline supplier relationships, track supplier performance, and manage the
procurement process more efficiently. With real-time data on supplier delivery times,
prices and quality, manufacturers can make informed sourcing decisions and negotiate
2. profitable contracts. In addition, logistics management integrated into the ERP system
enables efficient coordination of transportation, warehousing and delivery operations.
This seamless supply chain integration improves overall supply chain visibility, reduces
delivery times, and improves stakeholder collaboration.
Accurate financial management and reporting:
Financial management is an essential aspect of running a successful steel business. The
ERP system provides powerful financial management modules that automate core
financial processes, such as accounts receivable, accounts payable, general ledger, and
cost accounting. Steel fabricators can accurately track costs, overheads and revenues
associated with different projects or product lines. By integrating financial data with
other modules, such as manufacturing and procurement, manufacturers can gain
insight into the profitability of specific products or customers. ERP systems generate
real-time financial analyses and reports, providing management with the information it
needs to make informed financial decisions and comply with regulatory requirements.
Accurate financial management and reporting lead to better cost control, increased
profits, and improved financial transparency.
Conclusion:
Metal Trading Solutions have become indispensable for steel fabrication companies,
offering many benefits that help optimize operations, improve resource management,
and improve overall efficiency. By leveraging ERP, steel fabricators can streamline
production planning and control, efficiently manage inventory, integrate their supply
chain, and provide reporting and asset management. Adopting ERP technology enables
steel fabricators to stay competitive, achieve operational excellence, and drive business
growth in a rapidly changing industry.