Mexico-based garment manufacturer to utilize GSDCostV5 from Coats Digital, harnessing internationally recognized method-time benchmarks to drive costing optimization, manufacturing excellence and business profitability.
TW Special Report
A long-time Coats Digital customer, Industrias MyR already utilizes FastReactPlan, Coats Digital’s production planning solution, and is continuing its digitization journey with Coats Digital by adopting the market leading time-cost benchmarking solution, GSDCostV5. The solution will help Industrias MyR to utilize accurate standard minute values (SMVs) and provide a strong foundation for increased efficiency through better planning, balanced production lines and optimized capacity predictions, while concurrently delivering on CSR commitments.
The team at Industrias MyR recognised that a lack of manufacturing method standardization was leading to subjective costing and inaccurate planning. As a result, it was difficult for the team to accurately calculate labor 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 digitization journey, Industrias MyR was looking for a fact-based approach to quantify and optimize manufacturing methods and costs.
With GSDCostV5 from Coats Digital, Industrias MyR 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 labor costs are considered at an early stage of the product development cycle.
Edgar Peña, operations manager at Industrias Manufactureras MyR commented:
“As we continue to grow, we need to keep innovating and digitizing our business to improve our bottom line results, but also our employee well-being. Implementing GSDCostV5 will allow us to accurately calculate fair labor costs, standardize our working methods and further improve our productivity.”
The latest version of GSDCost will allow the Industrias MyR 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.
Eva Rivadeneyra, sales director of Coats Digital for Latin America commented.
“We are delighted to continue our partnership with MyR with the implementation of GSDCostV5,” Rivadeneyra said. “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.”
GSDCostV5 supports a more collaborative, transparent, efficient and sustainable apparel supply chain, taking time-cost benchmarking, costing optimization and method improvement to a new level and placing people and fair wages at the heart of the recovery from the global pandemic.
August 13, 2021