SCHMIDT SCIENTIFIC TAIWAN

SCHMIDT SCIENTIFIC TAIWAN
Schmidt Scientific Taiwan Co., Ltd. (SST): Enhancing Competitiveness with ArgoERP
Established in 1981 in Taipei, Schmidt Scientific Taiwan Co., Ltd. (SST) specializes in the distribution and after-sales services of optoelectronics, semiconductors, and industrial consumables for technology and medical applications. SST’s business spans industries such as semiconductors, optoelectronics, healthcare, solar energy, and scientific research. The company represents manufacturers from the United States, the UK, Germany, Japan, Korea, Israel, and other regions. SST implemented ArgoERP to strengthen organizational efficiency and boost its competitive edge.
Challenges
- Adapting to changes in International Financial Reporting Standards (IFRS).
- Resolving limitations of the legacy system that could not meet operational demands.
- Reducing maintenance costs.
Benefits
- Enhanced Inventory Tracking: ArgoERP enables real-time inventory status tracking, reducing costs and increasing profitability.
- Daily Cost Calculation: The system employs a weighted moving average method to calculate daily inventory costs accurately.
- Automated Financial Reports: ArgoERP automates accounting reports for managerial analysis, eliminating the need for manual preparation.
- Reduced Redundancy: Significantly decreases duplicate data entry and employee workload.
- Optimized Business Processes: Integrated financial reports improve workflow efficiency and elevate global competitiveness.
- Compliance with IFRS: Users can customize report formats to comply with IFRS requirements and accommodate evolving standards.
Customer Insights
Key Business Needs:
SST highlights the critical need for real-time tracking of orders and inventory by lot numbers. Using ArgoERP's lot management and weighted average costing method, every stock movement in the warehouse automatically updates the weighted average cost per lot. This precision is vital in an era where even minimal profit margins demand highly accurate cost calculations.
System Impact:
The weighted moving average costing method allows SST to calculate inventory costs daily and instantaneously upon any stock movement. This capability ensures precise profit margin monitoring, a cornerstone of success in the competitive tech industry.
ArgoERP’s Versatility in Financial Reporting:
ArgoERP’s reporting capabilities are tailored to meet dual accounting standards during transitional periods, such as ROC GAAP and IFRS. The system reduces the workload and minimizes errors associated with switching standards, providing consolidated and detailed financial reports for managerial decision-making. It allows for profit and loss analysis by department or business line, aiding in strategic planning without manual intervention.
ArgoERP's Comprehensive Features:
ArgoERP aligns with global ERP requirements, supporting:
- Multi-company, multi-factory, and multi-currency operations.
- Profit center and project-based management.
- Integration of business processes to maximize resource utilization.
Future Plans:
SST is currently pursuing system certification in Shanghai, China, to capitalize on market opportunities, ensuring its readiness for international competition.
By leveraging ArgoERP, SST continues to drive operational excellence, enhance cost efficiency, and maintain its leadership in the high-tech industry.
Contact us
For a demo, please contact us at Contact Us or for further inquiries:
Phone: 0633253640 or 02-6863000 ext. 3042
Email: support@aresth.co.th