Improvements of Your Cash Flow

Several adjustments can be made to any business that will positively effect their inventory concerns and their cash flow.

First, you find the optimal level of working capital by comparing your current working capital with your current profitability. Adjustments to these amounts can swing the ratio more in your favor.

Next, track your creditors and debtors to quantify the term of your cash conversion. You can establish or revise terms of the frequency of the payments made to your suppliers against the payments you receive from your customers. Squiggle and adjust these terms to benefit the cash flow in your favor.

Third, examine the liquidity levels of your industry, taking special notice of the seasonal and campaign plus/minus you are currently using. Your system should be jockeyed to emphasize your benefits and lessen your detriments.

In addition, assess your company’s overall financial process in comparison with your capital requirements. This ratio is integral to your overall success. Such analysis will lay before you the particulars of your financial system and will indicate what aspects can be re-structured in your favor.

Lastly, you should establish a schedule that can help you eliminate that eliminates your company’s need for debt financing. This ideal state of self-sufficiency will increase the marquee value of your business’ reputation. Structured consolidation of debt and taking advantage of every interest rate loophole will see your future benefit from every superior level you can achieve.

These five listed avenues of improvement are only a handful of ways you can improve the cash flow status of your company. but are all practical and basic  ways to take first steps toward cash fluidity and future solvency.

SIMMS’ Financial Reporting

SIMMS 2012 provides a comprehensive selection of reports that you can customize for their content and layout, so your business can get the information it needs.

Your accounting details can be viewed in an all-inclusive or hand-picked format that both provide information that can be analyzed both historically or at a per-customer basis. You can organize your information in summary form or on a per-transaction basis to provide the data in one place that you need most.

The financial data that can make quicker and better-informed decisions, enabling you to establish the report content that is germane to each department in your business. Further, you can trace the integration of information to bring focus to your various departmental structures, such as kitting (BOM), WIPs, General Inventory,  Receivables, Payables, General Ledger, Sales Orders and Purchase Orders (both processed and pending), and many others.

Ultimately, SIMMS 2012 lets you delineate the data that is important to you and your company as well as providing built-in tools to analyze your financial history and current revenue and expense flow.

To learn more about how SIMMS 2012 can aid in the improvement of your fiscal concerns, visit www.simmssoftware.com or email sales@kcsi.ca today.


Inventory Turnover

Stock turnover is important not only to your business’ bottom line, but also adds to your company’s reputation as a source of customer satisfaction.

Your holding costs increase for items that remain on your shelves for extended periods of time, i.e. that do not turnover. Items that “turn over” twice per year, or three times or more (in that time) are the goal you should have in mind. Stock turnover, thus, is a great litmus test of how well your business is doing. Increasing your inventory turns can be achieved through the application of three particular methods:

1) Comparison must be kept within the type of business that you have. You can’t compare the sales of music CDs with businesses that shampoo carpets. Otherwise, distorted comparisons will occur. Knowing what your direct competitors are doing for volume turnovers is the best guide for improvement of your bottom line.

2) In regard to items that haven’t sold, and others that have become obsolete, your action must be to make plans for offloading the eldest stock as well as pre-investment in replacement of all those items with the newer and more in-demand pieces.

3) As mentioned before, the increase of inventory turns helps to countermand your holding expenses. Spending less resources toward on costs such as insurance, utilities,  rent, theft and other costs needed to maintain stock ready for sale. You’ll see an increase in your profitability and net income. Revenue from sales is the constant requirement in this phase.

To learn more about inventory turnover and how you can make changes to benefit your business, visit www.simmssoftware.com or email sales@kcsi.ca for more information.

How Small Items Hold Big Importance

One of the stock details most often processed but rarely thought about in detail is size. Inventory items are of numerous sizes and with SIMMS 2012 Inventory Maintenance software, you can coordinate your stock from the tiniest rivet to the largest pallet in your entire warehouse, regardless of whether you require tweezers or tongs.

Every one of your locations. shelves, rooms or bins are specifically labeled, regardless of their square footage or volume capacity. Accurate inventory tracking must manage all sizes  of materials, as well as handling the accurate dispersal of item already received into them in advance to the most recently received pieces. With SIMMS 2012, you can also coordinate vehiclesand other moving containers; they can be monitored, and subsequently make transfers into and out of locations with ease and speed.

For all the simple and complex tasks involved in the management of inventory locations, learn more today about SIMMS 2012 by visiting www.simmssoftware.com or email sales @kcsi.ca today for more information.

Stock Item Aliases in SIMMS 2012

It is common that your customers have names or numbers that are unique for stock pieces that they require for them to do what they do. Similarly, your own vendors have an in-house reference for items that they sell to you. In both cases, these names and references are often different than the ones you use.

SIMMS 2012 Inventory management softwaremakes room for all of these by allowing you to assign aliases to the pieces you stock and stipulate that these aliases “belong” to specific vendors and/or customers. Thus when your order arrives at a vendor, they see not only your names and numbers, but they also can see their own, which leads to greater accuracy from their shipping department.

In a likewise fashion, your shipments to your customers arrive with invoices and packing slips bearing item references instantly familiar to their receiving departments.

For more information about “aliases” and their use, visit www.simmssoftware.com or email sales@kcsi.ca. Aliases can contribute to greater accuracy and satisfaction at all steps of your stock management and can be a useful tool for your use today.

Manufacturer’s Lots in SIMMS 2012

The ability to track serialized and lot-related parts to a customer is important for warranty and service management. SIMMS 2012 Inventory management software enables you to create serial numbers and manufacturer lots at any time during the manufacturing process.

Finished products are assigned to the serial numbers and/or manufacturer lots and when shipped to the customer the serial number and manufacturer lot utilized are saved to history to provide serial and manufacturer lot traceability against the original customer order.

Whether in a manufacturing companyor while performing simple assemblies in-house for sale to your customers, you need to also be able to track your own products. With SIMMS 2012, you can assign domestic or user serial numbers to your items, but also when creating WIPs or BOMs, you can assign unique Production Lot numbers to each of the kits. This way both components and kits can be tracked once they are made all the way through their respective saleand afterward (in the case of those to which you have assigned warranties).

Visit www.simmssoftware.com or email sales@kcsi.ca for more information.

Criteria for Stock Systems

When 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 2012 Banking Features

With  SIMMS 2012 Inventory Management software can reconcile cash, credit cards, and checking information, manage bank accounts and deposits and transferal of funds smoothly and easily. Accounting requirements can be a challenge to those who are not trained accountants, but SIMMS makes those structured and necessary steps easy to create, edit and manage using intuitive and easy-to-understand screens.

Whether it is in the management of the user’s various accounts, or the tracking of balances due and payment history from customers or to vendors, their details are easily entered or amended within the program. This seamless combination of top-level stock management and leading-edge accounting practices make SIMMS 2012’s banking features the best choice available today.

While other software packages require users to master complex accounting procedures and manually implement them, SIMMS has been created using the input of accountants, whose suggestions and focus on the most important information have contributed to the easy and practical steps included in the initial setup of SIMMS. This way, none of the most important settings are missed and none of the data requested during the setup is left as something confusing to the user. Addition of secondary data takes place during the secondary steps of setup, enabling SIMMS users to realize which information is the most important.

Visit www.simmssoftware.com or email sales@kcsi.ca for more information.

SIMMS 2012’s Sales Commissions

SIMMS 2012 Inventory Management software features a robust Sales Commissions module that keeps track of your sales staff’s share of the net profits made through retail or wholesale revenue. The module is simple to implement and allows you to track and monitor this important process that relies on thew utmost accuracy.

Businesses can have their departmental managers and accountants provided with the amounts owed to the various sales agents within the company. Access to this particular and specialist information is limited to those personnel whose security settings meet the correct criteria. Both requirements are handled easily by SIMMS.

Groupings can be applied to clusters of items within sales commissions. Commissions can also contain the purchase volume rates that your company has, correspondingly, with particular customers — the “deals” you’ve set up to sell your products are pulled directly into the commissions accurately and completely.  In addition, both royalty payouts and schedules for maximum value can be applied to each specific sales agent.

Whether the commissions are to be tracked on an Accounts Receivables basis or by each single transaction, you have the capability to apply percent-specific commissions which can also include item quantity ranges, categories of items, and/or groups created for different echelons of commissions (starting sales personnel, sales team leaders, foreign sales personnel, wholesalers, and so on). Once the commissions templates have been created, they can be applied to whichever agents that the managers or department heads want.

The feature-rich Sales Commissions module is linked accurately with SIMMS 2012’s accounting foundations for the most precise results you will find available in any other inventory management solution. For more information, visit www.simmssoftware.com or email sales@kcsi.ca.

Enhancement of SIMMS 2012

When making your investigations into which stock management system you want for your business, one of the deciding factors should be “how often will it change?”. In the same vein, the question “will it continue to be without ‘this’ feature or ‘that’ one forever, no matter how often I message the manufacturer?”

SIMMS 2012 Inventory Management software provides the advantage over other packages in that it is designed, amended, augmented, improved, expanded and altered on a regular basis (at least three times per year) — and always has been.

Flexibility and willingness to change is not common with other software. Most of it you buy “as is” (or ‘out of the box’ as is commonly referred). Such limitations that you find in the software may possibly be changed or improved someday, but your own protestations and requests are most often ignored. The software manufacturers have got your money now and they most often don’t care about you getting any bells or whistles beyond what they offer in their stock package.

With SIMMS 2012 (and every other version produced) enhancement requests are free and will be added to upcoming releases of the software. For free. If you, however, need a modification immediately, KCSI can tailor the software to your specific requirements with very little extra cost, thus providing you with immediate results. Visit www.simmssoftware.com or email sales@kcsi.ca for more information about how SIMMS is interested in becoming even more of an inventory solution that will grow with you and your company’s needs.