FINS Cloud ERP Feature Tour – Monitoring Orders Production


FINS is the 1st web-based ERP solution for the watch industry supporting Just-In-Time manufacturing. The system uses lean inventory practices, micro-manufacturing and merchandising with end-to-end traceability managed by an online portal customized for your watch brand. 

One of the key benefits of using an online ERP such as FINS for the watch industry is the ability to quickly check on the status of an order and follow it throughout the entire production process from factory to finish.

 

With FINS, orders can be easily monitored from the client dashboard and as a cloud-based system, is accessible online for any authorized team member.

Wollow the watch production

 

FINS improves order monitoring with powerful features

Online access for all team members, regardless of location, creates efficiencies, cuts down on unnecessary email communications and streamlines information sharing. 

Pending, current and past orders are all accessible from a dashboard for easy reference of previous customer orders or to check on the production and delivery date of current orders. 

Three levels of order monitoring: by order, by SKU or by individual watch using a unique identifier assigned by FINS to every unit. 

Full end-to-end traceability for each order, SKU and watch from production facility to individual.

 

Generic vs. Industry Specific Cloud ERP Systems


cloud based ERP

If there is one takeaway from the 2016 business year it’s that a volatile consumer marketplace, increasingly fierce competition and growing customer demands in the watch and luxury goods industry is driving brands to find every advantage to survive and thrive. The luxury and fashion segments especially have witnessed the necessity of a flexible and agile business model to compete in this fast-changing market. 

One way that brands are increasing efficiency, lower operating costs and streamlining supply chains is by adopting flexible cloud ERP systems that give them more robust features and benefits over native systems. Naturally, the market for software manufacturing has responded and there are many solutions available. The question is, with so many off the shelf choices, is there an advantage to using an industry specific ERP over a generic one?

 

Understanding Requirements

Both generic and industry-specific ERP systems provide essential business functions. Off the shelf systems can look like an appealing option for brands that wish to upgrade from a native system quickly to add functionalities that an existing system doesn’t provide. The key for brands looking for an upgrade, is to have a clear understanding of the company’s operational processes. Identifying the pain points in a system will help determine which ERP functions are necessary. 

 

Generic ERP

An off the shelf ERP isn’t turnkey. For virtually all companies, a generic ERP system will require specialized customization to meet the needs of an individual organization. Because the product attempts to remain industry agnostic, most generic ERP systems skew toward the most common functionalities such as order processing and sales at the expense of other considerations, such as inventory and manufacturing. 

Customization to answer these shortcomings can add important efficiencies but this is a time consuming and expensive process that usually requires other software add-ons and the help of outside experts. Even so, a generic system will often still be saddled with non-utilized features that are included for industries different than that of the enterprise. These unutilized components can complicate implementation and create dashboards and interfaces that are needlessly complex.

 

Industry Specific ERP

In contrast, industry-specific systems are developed based on the unique needs of a specific business vertical. Because of this, industry specific systems can fun leaner and more efficient than a one-size-fits-all option. These systems add key functionalities over generic systems that serve specific company functions and options to fit a brand’s individual industry needs. The requirements of different verticals vary greatly and having industry specific features in an organization’s ERP delivers profitable advantages over their competition in speed, efficiency and relevancy. 

Further, a cloud ERP solution that has been designed for a specific industry will be immediately applicable to an organizations manufacturing process with minimal customization. This results in faster (and cheaper) implementation and little or no on-going maintenance. 

 

Industry Know How

Perhaps the greatest advantage of industryspecific cloud ERP is that the vendor team will have a deep understanding of an organization’s needs and can offer pointed advice to satisfy unique industry requirements. 

For brands to survive in today’s tricky marketplace, it is vital to be flexible and adept with tech solutions that can give an organization the edge over competitors. Investing in a cloud ERP forms the basis for an efficient and agile company ecosystem. Smart companies understand that every business is unique and that one-size-fits all solutions mean that no one gets a perfect fit. Industry Specific ERPs are proving that as the marketplace niches down, so do business solutions. 

Industry Specific Cloud ERPs offer an organization powerful functionality, organizational customization and better implementation as well as vendors that possess the industry experience to have a deep understanding of their clients’ needs. 

 

An important place to begin with an ERP upgrade begins with a consultation. A quick email can get the process started. If your brand luxury, fashion or watch brand is ready for a profitable upgrade to a modern, flexible cloud ERP, Contact Montrichard today.

Ready to see how FINS can help grow your Watch Business?

Get Free Personalized Demonstration With a FINS Specialist!

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FINS Just-In-Time Manufacturing in 4 Easy Steps


FINS Just-In-Time Manufacturing in 4 Easy Steps

FINS is the 1st web-based ERP solution for the watch industry supporting Just-In-Time manufacturing. The system uses lean inventory practices, micro-manufacturing and merchandising and end-to-end traceability managed by an online portal customized for your company. 

It allows your brand to optimize its supply chain, free up cash flow and create and sell new watch collections fast.

 

FINS Overview

Watch_Manufacturing

Getting started with Just-in-time manufacturing powered by FINS is easy – benefits start from day one and implementation can be completed in only a few months. Our FINS specialists will audit your supply chain, identify problems and help you to optimize the entire process.

 

FINS Implementation In 4 Steps

FIN_ERP_implementation

The first step in transforming your supply chain into the fast FINS solution begins with a comprehensive audit of the current supply chain by our manufacturing and logistics specialists. Inventory is adjusted based on past sales and performance and optimized with parts standardization where possible. 

Optimizing inventory and going lean is a key component of FINS and has immediate benefits by greatly reducing inventory carrying costs, to free up valuable cash flow. The process begins immediately and typically, inventories can be reduced from existing levels by as much as 4x or as low as one month’s supply of completed watches.

A full logistics review is done and a customized client distribution network is established from brand to distributors and to retail level as desired. Powerful, time-saving improvements can be implemented during this stage such as dropshipping directly from factory, linking manufacturing to web sales and adding online personalization options for customers.  

 

Select The Team

Fins_implementation_Montrichard

Team selection is step 2 and is coordinated with FINS and client organization. Team size is dependent on number of FINS features and functions desired. The team is defined based on your companies needs and can begin with as few as one team member. The FINS online system is intuitive, flexible and agile and can grow with your organization. 

Our team specialists will provide guidance and instruction on the web-based FINS portal and integration with any company ERP that is necessary. 

 

Define The Product Line

Define_watch_product_line

Defining your brands unique product line is step 3 and is an integral part of inventory and manufacturing optimization. When possible, parts standardization is used to further reduce inventory costs and simplify production.

For clients that take advantage of the powerful online micro-merchandising opportunities afforded by FINS, parts standardization allows for cost-efficient personalization for a better consumer experience and brand relationship.  

 

Select The IT Integration Level

Select the IT level of integration

The final step in FINS setup is selection of the IT integration level. FINS is accessed through an easy online dashboard customized for your brand. All functions including ordering, catalog creation, production monitoring and product traceability are at your fingertips.  

Orders created locally automatically trigger a Just-In-Time production order, inventory adjustment and reorder, and invoicing. There are multiple levels of integration available to work with any client system, streamlining the entire logistics process. 

 

3 Methods To Place an Order

Getting powered by the FINS Just-In-Time manufacturing and merchandising system for the watch industry puts your brand on the path to profitability fast.

The first steps immediately correct many of the common limitations of traditional supply chains and begin the lean inventory process. Over the following months, the system continues to optimize and improve based on careful sales indicators and results. Non-turning inventory is eliminated, stock volumes are reduced to minimum levels and efficiency and quality control is improved. 

 

Main Dashboard

Just in Time Manufacturing

Each month on the FINS system continues to improve sales turnover and cash flow. This is achieved primarily through smart merchandising of watch collections segmented by distributor or country to match demands and by using direct dropshipping to speed delivery to as little as 14 days, further reducing costs.

Once the system is in place, the micro-merchandising opportunities of FINS can be realized such as adding limited editions or exclusive collections for different distributor networks or retailers or creating online points of purchase with value added personalization options for customers.

At every step of the way, FINS experts are with you to make sure that you get the most out of the system. 

 

Ready to see how FINS can help grow your Watch Business?

Register to try out our fully functional online live demo to see exactly what you get with the FINS manufacturing software solution for the watch industry!

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Increases profitability with FINS Cloud Based ERP


Increases profitability with FINS Cloud Based ERP

The FINS cloud based ERP solution is an end to end manufacturing and merchandising tool that completely transforms a traditional supply chain into a lean, agile and fast machine for watch brands. 

One of the most important features of FINS is robust inventory management that supports Just-In-Time manufacturing.

The changing nature of the market and increasing demands from consumers are making fast, agile production an absolute necessity and to achieve this, strict inventory control is critical. Brands can no longer afford to stock large amounts of completed watches or rarely used components. Inventory control is integral to FINS, it continually analyses component stock, makes automatic forecasts of components needed for current and future orders, and automatically re-orders components as they are needed.

Supply Chain Management

Just-in-time-management

Because FINS is integrated with a sales and order generation dashboard, creating an order can automatically adjust inventory value and stock so that perfect inventory levels are always maintained. FINS is dynamic too, it learns more over time, constantly optimizing component levels to stay lean and free up cash flow.

A fully optimized lean inventory can reduce stock by up to 4x and with the FINS system able to deliver completed watches in only 14 days, as low as one month’s supply of stock can be maintained. This means more cash flow for operations, marketing, sales and promotion.

A good cloud based ERP must have the ability to analyze and track every component and analyze trends and forecasts for further optimization. FINS makes managing orders easy, it can be accessed by staff anywhere online for real-time, accurate information. Having the system in the cloud means that local staff as well as distributed teams can instantly share the same information for better coordination and streamlined operations.

Manage Your Orders

Orders_management_watch_industry

See the video below for more information about how the FINS Cloud ERP Solution supports lean inventories and Just-In-Time manufacturing.

Ready to see how FINS can help grow your Watch Business?

Get Free Personalized Demonstration With a FINS Specialist!

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Connected Future uses Just-in-Time manufacturing to put any brand into the smartwatch market in record time


Connected_future_partner_fins

Connected Future – the new partnership between TCL and Montrichard announced today that they are implementing the FINS Lean Manufacturing System to power their smartwatch enterprise to improve quality, increase efficiency and avoid issues of obsolescence for their turnkey smartwatch solutions – improvements that will allow any brand to enter the smartwatch market fast.

 

As evidenced by recent products struggling to maintain relevance in the fast-moving smartwatch market, the issue of obsolesce for wearables is one of the main factors limiting the industry. The problem is twofold – from a technical standpoint, new features require frequent firmware upgrades and from a marketing standpoint, users prefer to update their devices and accessories often faster than traditional supply chains can accommodate.

Connected Future’s partners are uniquely aware of this obstacle. To overcome it they have implemented the FINS Solution – an end to end micro-manufacturing and micro-merchandising system that neatly solves the problems both on the hardware side and on the consumer demand side.

The FINS solution will allow Connected Future B2B clients to take full advantage of the only lean manufacturing and marketing system designed especially for the watch industry allowing their brands to become future proof. The Just-in-Time system has immediate and unique benefits for smartwatch clients:

  • Every order will be pre-loaded with the latest Firmware version avoiding watch inventories that are not compatible with the latest mobile phone operating systems.
  • Due to the micro-manufacturing flexibility of the FINS supply chain, each production batch has the newest electronic components and batteries which extend first cycle usage by at least 15%.
  • Clients can specify orders by country of destination to have specific marking or labeling done to satisfy any local regulation or requirements.

Connected Future powered by FINS offers the most cost-effective B2B smartwatch manufacturing program for the watch industry. It allows any brand to enter the smartwatch and wearables market quickly and successfully. The Connected Future ecosystem is tailored to keep initial investments low so that brands can design, iterate, market and test quickly and economically:

  • As a fully web-based system, any brand can work with the FINS development team to establish an exclusive online portal within Connected Future for customized catalogs and exclusive components using a visual real-time watch builder for different models.
  • Eliminate the 3000 MOQ typical of other smartwatch manufacturers by using Connected Future turnkey components as a starting point and adding branded dials and cases. Clients would only have to finance the components they wish to be exclusive.
  • This method reduces average cost by a factor of 10 and puts exclusive brand collections on the market faster than any other manufacturer.
  • Brands can take advantage of the small batch orders and FINS online merchandising power to provide customization, multiple collections by distributor, country or retail outlet or even create collections for third party or affiliated brands and partners.

VISIT CONNECTED FUTURE   

 

Full implementation of the FINS software solution will be driving deliveries by July of 2017. A full demo of the Connected Future Smartwatch Ecosystem will be presented at Baselworld 2017. To attend the demo and learn how your brand can be profiting in the smartwatch market this year, click here:

ATTEND OUR SEMINAR   

 

Please visit Connected Future at: www.connectedfuture.tech

Please visit FINS at: www.montrichardwatch.com/finssolutions/

Smartwatches & Wearables – A Bright Future


Sales forecasts smartwatches

A few short years ago smartwatches and wearables arrived with much fanfare. Touted as the ‘next big thing’ consumers were soon assaulted with a dizzying array of choices and functionalities. Features often took priority over design or fashion and the industry had its share of stumbles as it tried to find its feet, looking for the perfect mix of form and function that would satisfy tech-hungry shoppers and fashion conscious consumers. 

Some early winners hit the scene spectacularly only to find themselves disappearing quietly into obscurity just a few years later (I’m looking at you Pebble). While other feature-lean devices with excellent functional practicality such as Fitbit and other activity trackers stayed the course.

Beyond the wrist, a multitude of wearables powered by the new low-energy version of Bluetooth finally freed the hardware from battery issues while seemingly endless choices in personal data apps engendered a new class of products that made everything ‘smart’ from eyewear to underwear.

Now that the dust has cleared, the recent success of the Apple watch and high-end hybrid watches from traditional makers Tag Heuer and Swatch are showing massive growth potential and demonstrate the fact that the future of wearables remains securely on the wrist – utilitarian activity and fitness trackers, full function digital watches with phone integrations and most interestingly, hybrid watches that combine the style of analogue with the convenience of essential digital information.

As expected, the majority of wearables will remain on the wrist and by 2019 will outpace other wearable devices by a factor of 10.

Smartwatch manufacturer forecast

One thing is clear, smartwatches and wearables are here to stay and even if the industry is still experiencing growing pains while working itself through an awkward adolescence, the future is very bright. Early adopters are still enthusiastic while regular consumers are warning to the 2nd generation of wearables with more seamless connections and better functionalities. Conservative outlooks show wearables revenue estimated at over $22 Billion USD by 2020. 

  

Health and fitness remain a dominant segment of smart wearables with activity tracking and personal health data the main benefit.But as sensor capabilities advance fast, huge opportunities are on the horizon for these devices to have real value in professional health and medical care. 

Apple is expected to continue to drive the industry with robust new features that appeal to the tech-inclined while Swiss traditional watchmakers are taking a different approach, creating mid-priced hybrid watches that retain traditional analogue timekeeping while adding selected digital integrations such as activity tracking and call alerts. This development is a key indicator as it addresses a segment of the market that wishes to keep the tech on the backend and wear a watch that better blends with personal fashion and lifestyles. 

In spite of a rough start, the smartwatch and wearables industry is gaining momentum at an encouraging rate. It’s certain that a profound opportunity exists for brands to begin exploring and evolving into the smartwatch market to gain a head start against competitors and build for an inevitable digital future.

Just-In-Time manufacturing for the watch industry is poised to disrupt traditional supply chains (video)


Watch_Manufacturer_Just-in-time_manufacturing

With the FINS Solution, any watch brand can transform its traditional supply chain with an online-based end to end supply chain and ERP system especially designed for watches. It helps any watch brand optimize its supply chain, free up cash flow and enable just-in-time manufacturing.

Take a closer look at how FINS can work for you

 

Ready to see how FINS can help grow your Watch Business?

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Montrichard and TCL announce a strategic partnership for a new smartwatch ecosystem


Smartwatch Manuufacturer

China’s biggest mobile device company and a respected Swiss watchmaker provide any watch brand with smartwatch capabilities.

 

Hong Kong, March 7th, 2017

An exciting strategic alliance has been announced between a traditional watchmaker – Montrichard and TCL a worldwide leader in mobile phone manufacturing.

Recognizing that meteoric rise of smartwatches as the fastest growing segment of the watch industry, two respected companies have formed a partnership that will help any watch brand overcome the technological barriers necessary to enter the smartwatch market quickly and successfully.

Combining the Montrichard Group’s 25 years of watch design and manufacturing experience with the software and mobile phone expertise of TCL, the strategic partnership signed in March of 2017 creates a number of high-end turnkey smartwatch solutions for the watch industry.

Complicated supply chains, costly research and development and complex tech integrations have created significant barriers for traditional watchmakers and new brands to enter the smartwatch market. The Connected Future smartwatch solutions solve all these issues and allow any brand to enter the market with an end-to-end supply chain for software and hardware-ready watches based on trusted TCL technologies and proven Montrichard manufacturing.

Connected Future, the name of the new entity will offer the first multi-device ecosystem able to operate with a single App. (Dec, 2017). The Connected Future device ecosystem includes all smartwatch interfaces: Analog-digital with connected hands control, integrated LED, full OLED display, smart strap technologies and more.

Montrichard will support manufacturing options for Swiss made or China made watches while TCL will support the software and module manufacturing. This unique solution backed by the best manufacturers in the industry will help any brand implement a clear manufacturing strategy for smartwatches.

 
About Montrichard

MONTRICHARD is a leader of watch manufacturing in Switzerland and China.

With sales Offices in USA, Europe and Hong Kong, Montrichard is a key innovator in the watch industry with a perfect track record of operating Just-In-Time manufacturing for more than 14 years and is a trusted supplier to many worldwide brands.Montrichard is the exclusive distributor of FINS – The First Lean Manufacturing Solution for the watch industry. For more information about Montrichard: www.montrichardwatch.com

 
About TCL

TCL is a global leader of mobile device and consumer goods and one of China’s largest tech companies.TCL Communication, incorporated in Hong Kong is committed to providing customers with smart devices and ultimate experiences with mobile phones, tablets, smart and wearable devices. TCL is a global manufacturer and internet service provider with over 75,000 employees worldwide. It provides globally a rich portfolio of products and services under three key brands – TCL, Alcatel and Blackberry.

 
About Connected Future

Connected Future is a strategic partnership between Montrichard and TCL with creates a number of high-end turnkey smartwatch solutions for the watch industry. Connected Future products lets any watch brand enter the smartwatch industry fast. For more information about Connected Future: www.connectedfuture.tech

 

Press contact: 

Connected Future: press@connectedfuture.tech

Montrichard Group: contact@montrichardwatch.com

 

The largest kids e-commerce website


Disney's Licence

How the largest e-commerce site for kids watches uses FINS to capitalize on its most popular movies

 

One of the most valuable features of FINS is that it provides an effective method for watch brands of any size to take advantage of micro-merchandising. Imagine, your company no longer overproducing and storing inventory based on complex and risky sales forecasts or guesswork about market demands.

What if your brand had a system in place that minimized inventory value while accurately creating manufacturing orders based only on real-time sales performance? What if this system was so efficient that it could take advantage of market demands in real-time?

This is exactly how the largest kids e-commerce website is using FINS on their website to launch new watches based on their most popular movies at no risk.

 

The Challenge

The challenge for the largest kids e-commerce website was in facing the uncertainty of consumer demands for watches marketed for their new movie releases. Some movies are blockbusters and some less so, and they found it impossible to predict the demand for certain merchandising products such as watches.

As their official licensee and supplier of watches, EwatchFactory had a complex challenge: purchasing inventory, manufacturing branded watches and storing them was a costly and risky proposition for each movie release. Not only was over-producing fiscally costly but discounting overstock to recover costs would be damaging to their brand image and to the value of their products.

The solution was a full FINS integration, from inventory control at the factory level to consumer customization on their online webshop.

 

Inventory Optimization

Leaning inventory is essential to cost-savings and efficiency at the factory level. Not only does it reduce stock and free up cash flow, it also reduces necessary square footage and streamlines production. For the largest kids e-commerce website, careful component standardization also greatly reduces inventory size.

By standardizing watch cases and movements, customization for different movies could be achieved with the simple addition of printed straps, watch faces and custom hands. For each new movie, a small investment in only these components greatly minimized risk in contrast to pre-producing complete watches.

By reducing customization costs by 95% and only re-stocking based on real-time orders, the largest kids e-commerce website is able to take advantage of any new market opportunities at virtually no risk.

 

Micro-merchandising

The largest kids e-commerce website prides itself on customer experience and that extends to their micro-merchandising efforts. When their latest movie is released, customers can visit their online shop and buy a watch based on the movie or characters.

Additionally, using a FINS-powered online store they can also personalize their watch before they buy it. Not only can they select a popular character or movie as a theme but they can choose additional personalization for straps, hands and more. Each watch can even have a name or message engraved on it. This fully personalized watch order is then automatically generated by the system and created under the FINS automated system with production beginning immediately.

Watch_manufacturer_america

Fast Fashion Watches

Using a full FINS integration from factory floor to delivery, each personalized the largest kids e-commerce website watch can be produced and delivered in less than 14 days from factory to consumer. This unprecedented level of personalization, ease of purchase and quick delivery creates an effective Fast Fashion model for the watch industry powered by the FINS solution. As Fast Fashion has changed the apparel industry by speeding new collection releases and allowing levels of personalization for consumers, so too is it driving the watch industry.

 

Results of adopting FINS

The largest kids e-commerce website, as a titan in merchandising and marketing, has recognized the Fast Fashion trend in other industries and felt the challenges faced by its own merchandising and sales operations. They needed a low-risk method of transforming to a Fast Fashion model for their branded watches and they are an early adopter of the FINS system.

The largest kids e-commerce website recognized that the greatest effect and profit would be realized with a full supply chain integration and this unique B2B2C system has allowed them to greatly expand their collection and offer an enhanced customer personalization experience while simultaneously reducing inventory value, streamlining order generation, automating restocking and delivering products to their customers faster.

With the FINS Fast Fashion Solution for the watch industry EwatchFactory was able to support the largest kids e-commerce website to remain above and beyond their competitors in both product offerings and customer service. 

Ready to see how FINS can help grow your Watch Business?

Get Free Personalized Demonstration With a FINS Specialist!

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The FINS Solution: A New Vision of Watch Manufacturing (Video)


Fins Montrichard video
FINS is a web-based ERP solution for the watch industry

Lean inventories and fast fashion isn’t just for the apparel industry. Watch brands can take advantage of cost savings and reduced delivery times using the first lean manufacturing system designed especially for the watch industry. Take a look and see what FINS can do for you.

Ready to see how FINS can help grow your Watch Business?

Get Free Personalized Demonstration With a FINS Specialist!

REGISTER NOW