Mexico-based garment manufacturer to utilise GSDCostV5 from Coats Digital, harnessing internationally recognised method-time benchmarks to drive costing optimisation, manufacturing excellence and business profitability.
The Digitization Journey
A long-time Coats Digital customer, IndustriasMyR already utilises FastReactPlan, Coats Digital’s production planning solution, and is continuing its digitisation journey with Coats Digital by adopting the market leading time-cost benchmarking solution, GSDCostV5. The solution will help IndustriasMyR to utilise accurate standard minute values (SMVs) and provide a strong foundation for increased efficiency through better planning, balanced production lines and optimised capacity predictions, while concurrently delivering on CSR commitments.
The team at IndustriasMyR recognised that a lack of manufacturing method standardisation was leading to subjective costing and inaccurate planning. As a result, it was difficult for the team to accurately calculate labour costs or gain complete visibility into the realistic manufacturing costs. Ultimately, this had a detrimental impact on profitability. Committed to innovation and continuous improvement on their digitisation journey, IndustriasMyR was looking for a fact-based approach to quantify and optimise manufacturing methods and costs.
With GSDCostV5 from Coats Digital, IndustriasMyR will be able to use international standard motion codes and pre-determined times, to establish and communicate open, fact-based garment costs based on sustainable method standards. This will allow MyR to eliminate over or under costing, and ensure that accurate, fair and sustainable labour costs are considered at an early stage of the product development cycle.
“As we continue to grow, we need to keep innovating and digitising our business to improve our bottom line results, but also our employee well-being. Implementing GSDCostV5 will allow us to accurately calculate fair labour costs, standardise our working methods and further improve our productivity.” Commented Edgar Peña, Operations Manager at IndustriasManufacturerasMyR
The latest version of GSDCost will allow the IndustriasMyR team to leverage an intuitive SaaS based platform, incorporating the latest capabilities, to provide fast access and high performance from anywhere in the world. The cloud-based solution will facilitate easy upgrades, reduce upfront costs, and enable better scalability and data security.
“We are delighted to continue our partnership with MyR with the implementation of GSDCostV5. Building on our market-leading heritage as the international time-cost benchmark, this new browser-based version of our solution delivers a highly intuitive experience that will facilitate rapid user adoption and accelerated business benefits.” says Eva Rivadeneyra,Sales Director of Coats Digital for Latin America
GSDCostV5 supports a more collaborative, transparent, efficient and sustainable apparel supply chain, taking time-cost benchmarking, costing optimisation and method improvement to a new level and placing people and fair wages at the heart of the recovery from the global pandemic.