Making Your Best Margins

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The best inventory managers know when they’ve got a great product at a great value, and they make the best margins on it. If you’d like to average 10% margins through the year on a particular product, it means you better make 15% margin on the factory-fresh models, to make up for the older units you will inevitably sell for 5%. Have discipline around your pricing systems, so that the newest and best units (the most valuable) are priced accordingly.

SIMMS’ Multi-Currency Features

 

 

 

 

 

 

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Amongst SIMMS 2014′s many features are its wide-ranging capabilities with multi-currency. For example:

Multi-Currency in Inventory Control
• Assign a default currency for any inventory item.
• Conduct Business using different buy and sell rates.
• Associate unique vendor pricing and indicate specific currencies to
be used for vendors.

Multi-Currency in Purchase Orders and Receipt of Goods
• Vendor’s currency identified and reflected in transactions.
• The ability to over-ride the default vendor currency at the transaction stage.

Multi-Currency in Order Entry
• Integrated in sales order processing, invoicing and quoting — the
customer’s currency is identified and reflected in transactions.

Multi-Currency in Accounts Payable
• Assign a default currency for each vendor and change defaults
at any time.
• Assign currencies to individual checking accounts and print checks
in that currency.
• Display your customer transactions in the currency assigned to
them or your base currency.
• Print your customer statements to reflect your base currency or the
sale currency.

Multi-Currency in Accounts Receivable
• Assign a default currency for each customer and change defaults
at any time.
• Your customer can now pay in whatever currency you have pre-configured in SIMMS. This enables you to process payment for part of a customer sale in one currency and select an alternate currency.

For more information on your multi-currency needs, visit us at www.simmssoftware.com.

SIMMS 2014 Manages Replenishment

The SIMMS 2014 Replenishment module allows for calculation of this delicate balance so you always have the stock you need but never have warehouses sitting idle with stock.

This combined versatility allows proper inventory management – the
very goal of the SIMMS Inventory System. Automatic creation of purchase orders, and streamlining your cost savings and employee time management allows you to physically administer your stock so that it’s where it needs to be when you need it to be there.

Lead times for vendors and the cost of overheads are taken into
consideration, and other items often received from those same
vendors allow you to maximize your ordering and re-ordering
process.

You can view your kit demand and have SIMMS suggest the order
quantities for just the main level of components or sub-levels as well (if required).

Shortages can be sent directly to RFQ for vendor bidding in order to
assure that you get the best cost for your required components.

The SIMMS 2014 Replenishment Module shows you in one simple-to-use window the sales order demand, kit build demand, minimum
re-order point status, stock quantity and order status, then gives you
the ability to generate purchase orders or send to RFQ for bidding,
thus simplifying the complicated task of item replenishment.

To learn more about replenishment in SIMMS, visit www.simmssoftware.com.

SIMMS 2014 Barcoding

simms_barcoding2With SIMMS 2014 barcoding, you can print serialized barcodes from our easy-to-use barcode interface, including items’ manufacturer’s lot numbers. You can also:

• Easily print apparel item barcodes for every item on a receipt of goods on-the-fly and generate apparel item tags.

• Print barcodes for all items from a receipt of goods and/or print barcodes for an entire category of items.

• Print location barcode labels, either one location at a time or add all locations in your system. Location labels enable the scanning of location codes during transactions. A hand-held data collector can make inventory management much easier by eliminating the possibility of user error.

• Several barcode formats are supported, and labels can be exported to an external Crystal Report for easy adjustments and/or layout changes. 2D barcoding is supported, providing the ability to select what information should be included in the 2D barcode, e.g. item number, item description, UPC, quantity and manufacturer’s lot. The 2D barcode escape code parameters can be set using the Advanced Barcode Printer Setup.

• With barcoding as part of your solution, you have the freedom to utilize scanners in order to reduce data entry errors. Remote data collectors with the SIMMS Windows Mobile program can also be used in order to unchain yourself from your desk so you can inventory your warehouse then synch with SIMMS 2014.

Sales with SIMMS 2014

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When a customer calls to request a quote or place an order, information must be at hand. With SIMMS 2014 Inventory Management software, the customer’s contact information, the availability of specific units in inventory, (or alternate items if those being ordered are out of stock) all such data is immediate. Additionally, item pricing, quantity pricing, specific customer pricing, costing will be easily accessible.

Recall all Original Quote and/or Sales Order Information:
As customer orders are filled and completed, you need to invoice the orders and properly ship them. All original quote and/or sales order information can be recalled, allowing entry of exact quantities shipped and backordered.

Invoices will automatically adjust inventory quantities and produce a Back Order Fill Record if there are backordered items. With the implementation of SIMMS, you will be able to make more informed sales decisions, and all of your sales information will be readily available at all times.

Sales Quotes:

SIMMS offers a powerful yet easy to use Quoting gives your sales team the tools they need to close the sale. You can see the cost and increase the quoted price by a percentage over the cost.

Sales Orders:

Sales orders enable you to complete a sale for your customer but instead of depleting stock it reserves the stock, enabling you to invoice or ship against the initial order either partially or fully.

Sales Order Authorization:

With the Sales Order Authorization Staging Capabilities found in SIMMS you have the added security of having to have Sales orders approved, and authorized prior to Issue.

Sales Order and Quote Cloning:

Easily clone pre-existing sales orders or quotes into new sales orders or quotes for the same or different customer, thus saving you valuable time in sales repeat orders.

Sales Orders for Purchase Orders:

Advanced functionality such as creating sales orders for purchase orders and having the purchase orders created automatically on-the-fly from the related SO is made simple. SIMMS’ Sales enables you to create new purchase orders on-the-fly as well as adding the sales order related items to an existing purchase order.

Fulfillment Manager:

With the Fulfillment Manager you can review your sales demand and quickly fill mass amounts of sales orders at once, generate purchase orders for shortages and even transfer items from alternate locations to fulfill the requirements.

SIMMS 2014 Accounting

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  • Accounts Payable: Our SIMMS Accounts Payable module provides a comprehensive solution for managing expenditures.
  • Accounts Receivable: The SIMMS Accounts Receivable Module tracks receivables, plans cash flow and provides extensive information and reporting features to give you vital business insights to plan for the future.
  • Banking: With SIMMS you can edit and add credit card and bank accounts, and easily enter deposits, transfer funds, enter cash, cheque or credit card transactions as well as reconciling cash and credit cards via bank reconciliation.
  • Budgets: Maintain and enforce budgets with ease and transfer budget amounts from one account to another.
  • Financial Reporting: SIMMS Software offers virtually unlimited financial reporting capabilities.
  • Flexible Chart of Account Structure: Create account structure to fit your business needs using up to 30 characters and 10 segments.
  • General Ledger: The SIMMS General Ledger module has many powerful features to help you efficiently manage your accounting.
  • Multi-Currency: Process payments and invoices in multiple currencies.
  • Sales Commissions: Calculating sales commissions due has never been easier. SIMMS can auto-calculate commissions based on either the Accounts Receivable or the Transactional method.

Stock-Keeping Checklist

simms_functionsWhen deciding to implement a detail-conscious system of stock tracking, every business has a minimum priority in its design.

The features of all stock-keeping must contain some version or form of the following:

Area Transfers – records created when goods are re-assigned to a different building or warehouse

Discrepancy Report – the final reference document produced that provides the comparison with the results of the previous inventory

Finished Goods Stock Take – the physical count of manufactured/assembled materials (conducted no less than once per month)

Finished Stock Return – receipt of sold items as individual quantity

In Process Stock Take – the physical count of items committed to incompletely manufactured/assembled materials (conducted no less than once per month)

Inter-Site Transfers – records created when goods are re-assigned to a different location within the same building or warehouse

Issuing – transactions that deficit the stock quantities on-hand

Item Voids – items removed from inventory due to breakage, expiration or recall

Label Reprint – once stock has been re-located its status in its new site is labeled ASAP

Pallet Summary – physical count of large-block storage containers

Raw Stock Return – receipt of sold items as individual quantity

Receipt – transactions that surplus the stock quantities on-hand

Remainders – stock that has been left over from other projects, including those stripped from sub-assemblies

Stock Take – the physical count of raw materials (conducted no less than once per month)

All comparative systems for inventory management shall consider and record accurately the above details, and maintain them in history for the system to be of any lasting value to your business.

For further details of a complete design for the management of inventory, visit www.simmssoftware.com or email sales@kcsi.ca for more information.

SIMMS Inventory is Top-Line

SIMMS_logoAs a company grows, it is also expected that extra effort should be invested toward inventory control. In the past, companies only relied on manual inventory systems before computers came along. There are two types of inventory system: perpetual and periodic. Periodic uses physical count with intervals to be able to monitor inventory at a lesser time consumed. Every business whether large or small needs a complete list of merchandise or stocked goods. For a business that has a pile of papers anywhere does not only indicate a non-friendly working space but should also be a threat to the owner if they can still keep track of the meritorious records of the company. A piece of paper for some is worthless but for company owners, every piece of paper inside the office has its value more than anyone can imagine.

Perpetual inventory features updates to the manual record on a daily basis. This is done to strictly see the count of items on the inventory list and work closely on it to avoid any delay in replenishment. Today, inventory management requires a computerized system for a better safekeeping of records and avoiding any deterioration that might occur through the aging of documents. This is where SIMMS Inventory Management software comes in.

To learn more about how SIMMS can benefit your inventory process, visit www.simmssoftware.com.

SIMMS 2014 Windows Mobile

simms_mobileSIMMS Windows Mobile Module is compatible with almost any Windows Mobile 5 or Pocket PC 2003 device and offers a wireless-based inventory software Solution…

SIMMS 2014 Mobile is a powerful bar coding solution, beginning with the implementation of the SIMMS Windows Mobile Module, streamlines your entire business process.

KCSI offers our customers kitted total solutions by combining software with the appropriate hardware for your application. With the SIMMS Windows Mobile module you can automate the essential functions of your organization to maximize your staff’s time. Connect quickly with customer and vendor data, track your fixed assets, stockroom inventory, complete physical count adjustments, receive purchase orders and issue sales orders all remotely and effortlessly.

Analyzing Inventory

simms_pickingAn inventory analyst recommends any necessary changes to management. He partners with his employer’s accounts payable department to ensure that all transactions are accounted for. He or she resolves any discrepancies in a timely manner.In concert with the operations department, he or she monitors the accuracy of all inventory levels, resolving any errors as required. Developing and implementing an inventory management system, he or she sees that product movement flows seamlessly. Additionally, he or she maintains inventory control records, reporting them to management on a regular basis.

An inventory analyst, also called an inventory control analyst, is usually employed by a company to develop and implement all best practices, policies, procedures, systems and with regard to inventory, for the purpose of maintaining accurate financial information. Following a thorough analysis of a company’s current inventory policies, he or she identifies any deficiencies and inefficiencies, making correctional recommendations. Once those recommendations have been approved by management, he or she oversees their implementation.