Year-End Inventory: From Pieces to PEACES

With every annual close, companies need to reflect on what their previous 12 months have revealed. Much the same way that individuals do to assess their own progresses and successes, a useful business analysis can be reduced to a simple acronym: PEACES, the letters of which stand for Projects, Equipment, Abilities, Connections, Errors and Surpluses.

Projects – List the projects you worked on over the previous year and then list what techniques you either used or learned from the project. Encapsulate your most effective task of the year, and summarize the tasks that didn’t meet with any success. Look for a pattern you can use for future projects and keep an eye on the stumbling blocks that blocked your effectiveness.

Equipment – List the procedures and actual gadgetry, both large and small, that played a part in your successes and failures. Determine if you need to re-tool your habits to increase your production level or eliminate steps that waste time and power.

Abilities – List the skills you acquired or improved over the last year. Discover what gaps in your skills contributed to the losses you experienced, and make a plan to acquire or polish what you find to be lacking.

Connections – List your working relationships from over the past year and note the qualities that produced the best work and spot the things that showed no development. Every relationship needs to be worked on, and appreciation of those various partners must be made known to them. The more you learn to build together, the quicker and the better the work will be.

Errors – After having completed the notes or lists under the previous headings, amalgamate all the unsuccessful results and compile the categories that need work, from easiest to achieve to the most difficult. Now make a plan to remedy all those weaknesses over the next 12 months.

Surplus – Most people having completed the previous step will immediately let the list of their challenges echo around in their heads to the extent that they begin to dwell upon their negatives. Howefver, whether the year has resulted in a plus or a minus, we end the assessment with a stock-taking of only the positives. What growth has been experienced, what things have been improved &#emdash; no matter how slightly &#emdash;, what blessings have you acquired, and note the little balls and whistles in your material life made by technology, the sciences and the arts. Whether we ARE our business, or are simply one cog in an entire wheel, our personal lives have a great effect on our readiness to do our jobs. Celebrate successes as they happen, and reinforce your strengths because they are your very best friends. Rejoice and meet the New Year in stride. Always remember that part of every horizon you see belongs to you.

Talking About: The SIMMS Servicing Module

SIMMS Inventory Management software features a Service and Returns module that enables users to prioritize and master repairs for customers. In concert with the Service & Repairs module, Servicing conglomerates the creation of repair orders, estimations, materials assignment, labor and time management and all transactions (purchase orders and receipts of goods) for each created repair order in the system. Naming versatility, assigned completion dates, miscellaneous costs and work scheduling are all available tools within this module, making repair orders easy to monitor and process.

From within the Operations Manager, users can check and update each repair order quickly and completely. Specific times can be assigned in advance, while variations and additions are easily processed. Users are free to assign any Work In Progress (WIP) locations they wish, and have the added detail of assigning a customizable user-defined field to the repair order, enabling the entry of an additional detail or option to each order.

Supplies, charges and miscellaneous items can be ordered and received so they can be dedicated to the process, keeping their respective stock items separate and reserved for the repair orders. Easy-to-use and self-contained, SIMMS’ Servicing module makes the conduct of repairs efficient and the satisfaction of customers in the forefront of every business’ performance.

Talking About: SIMMS Development

In today’s market customers are concerned about change and diversification and its effects on how they will need to do business. SIMMS’ Inventory Management software was begun to help businesses grow and change with the times, and SIMMS has improved and evolved into a robust and comprehensive solution package that keeps par with its users’ needs. Based on an evolving and expanding foundation that provides a stable structure, it is growing into one of the most desirable applications in the world.

As new questions arise, new solutions must be produced. SIMMS processes the new challenges and adopts features and modules to meet these new needs. Its development — unlike that of the pricier and the established applications — incorporates all of the needs of its users, as well as being customizable, which opens up wide vistas for growth and success.

Modules and features are constantly improving, more types of business are having specific features added to suit their requirements and more success is produced because of this increased versatility. With updates that are released throughout each year as well as at least one new full release each year, SIMMS Inventory Management software keeps its users’ needs in the forefront of its development. Check often and see how much more SIMMS does next and join the growing list of SIMMS users who already know that your business growth moves hand-in-hand with your ability to adapt. Gain the lead and advantage you need by implementing SIMMS today.

Contact KCSI today to learn more.

What is ‘Negative Stock’?

SIMMS Inventory Management software incorporates the concept of negative stock, which can be one of the most useful concepts for many businesses to coordinate their stock orders. When making up sales orders, sometimes users may want to create them while not having the necessary quantitiy on hand. Negative stock enables users to create those sales orders, save them, and then enventually through the use of backordering, to receive the stock into their warehouses and replace the negative stock with actual items at some future date.

The need for order flow keeps those involved in warehouse management aware of precisely how many orders have been created and how many units of inventory stock items they will need. In such cases, the purchase orders placed with their company’s various vendors. This streamlines the process by reducing the number of purchase orders created in the system, and enables the items placed on negative stock to be added to existing purchase orders before they go out.

While companies should always fear the over-investment in stock that just sits in the warehouse that will eventually be used one day, a larger concern is that stock that is required immediately has yet to be ordered for projects with medium-length deadlines for completion. If the stock is there when it is needed, this leads to greater customer satisfaction and less interruptions to throughput — choose SIMMS Inventory Management software to help you stay ahead of what is needed.

Inventory Terminology: The Use of Service Levels

A Service Level is the desired guarantee that stock will be on-hand (usually expressed as a percentage) and calculated further into a z-value (expressed as a factor).

The following chart shows the z-values for the respective percentile service levels:
Level        Z-Value (Service Factor)
99.99% = 3.72
99.50% = 2.58
99.00% = 2.33
95.00% = 1.64
90.00% = 1.28
85.00% = 1.04
80.00% = 0.84
75.00% = 0.67
70.00% = 0.52
65.00% = 0.39
60.00% = 0.25
55.00% = 0.13
50.00% = 0

Companies are free to choose the service level that they wish to apply, and thus their calculation of reorder points will be effected accordingly.

ToolTip: Transferring Inventory to Fill Sales Orders

Today’s ToolTip comes from KCSI Technical Writer Marc Kondylis:
Transfer Inventory to Fill a Sales Order
From the Fulfillment Manager, you can transfer items from one location to another. This is useful when there is insufficient inventory of an item in its original location on the sales order, and there is available inventory in another location.
1. On the Modules menu, point to Sales Orders, and then click Fulfillment Manager.

The Fulfillment Manager window opens.

2. Under Filter Options, click Query Data.

Your search results are listed in the Fulfillment Manager’s grid.

3. Under Recalculation, click the Recalculate Fill Quantity button.

The Recalculation report opens.

This report lists any items that have insufficient inventory to fill their sales order. In addition, the report lists any location that has available stock to fill the sales order.

4. A dialog box opens asking if you want to create a transfer, click Yes.

SIMMS creates a draft transfer for all eligible items on your sales orders, and opens the Transfer window.

5. Click the Edit icon in the toolbar.

If required, edit your transfer. For example you can change the quantity of the item being transferred or the location from which it is transferred.

6. Click the Save icon in the toolbar.

To view any transfer you have previously created for an item, select the item in the grid, and then under Actions, click the Show Transfer button.

Global Business: When Multi-Currencies Become Necessary

SIMMS' Multi-Currency Module delivers powerful and comprehensive multi-currency accounting functions. Sophisticated currency management and the ability to process transactions in any currency provides your business with a global competitive edge. User-defined exchange rates, as well as full EMU accreditation, and the ability to override currencies and exchange rate definitions at the transaction level make SIMMS' Multi-Currency Module for a robust and practical solution for your multi-currency needs.

Importance of Item Locations in SIMMS

Unlimited locations can be created by users of the SIMMS Inventory Management System. Locations can be assigned for transfers, receipts of goods or issues of goods. Warehouses, show rooms, freezers, cabinets, storerooms, vehicles and areas of any size or description can be incorporated easily into SIMMS, and stock reports can display accurate and current item counts throughout a user’s entire system.

Create locations for kit building (BOM), assign locations to stocks of consigned items belonging to customers, and manage your entire stock smoothly to make sure that the stock needed is where it needs to be. Reorder points for item can be unique to every location in which they are stored. Additionally, the versatile naming scheme for the locations in SIMMS enables users to easily confirm which locations are for which purpose. Specific capacities and affiliations of locations to employees allow for complete tracking capabilities.

Remote access allows for users anywhere to check stock counts in all locations everywhere, making Item Locations in SIMMS the standard model for precision inventory management.

A Stitch in Time: Managing Apparel with SIMMS

The SIMMS Apparel Inventory module allows implementation and entry of your matrixes of color, size and style. This makes apparel management easy and thorough. Multiple colors, sizes and styles are managed on a wide variety of labels to suit your needs. Remain competitive and allow your business to grow, and achieve an edge over your competitors with timely and accurate information and comprehensive reporting capabilities.

The SIMMS Apparel/Embroidery Module offers comprehensive reporting capabilities to keep you on top of inventory status. It will easily generate reports on item pricing, stock status, detailed sales history, backorder information, style, color, size, reorder points and recommendation, valuation, turnover, sales analysis and much more. The software can further help you discover new or improved purchasing policies, sales policies, pricing methods, and enhanced customer service policies.

Color and size labels may include National Retail Foundation (NRF) codes. Once defined, color and size labels may be grouped to form color cards and size charts that, in turn, may be used to create matrix templates. Templates, groups and labels may then be assigned and tailored to meet individual inventory items, after which all quantities associated with that item will be tracked by color/size/style. This feature combined with several others makes the SIMMS Apparel Module the best fit for any apparel-related industry.