Performing Stock Counts with SIMMS

A worker counting the ready products stacked on the shelves in a factory storeroom.

SIMMS Inventory Management provides you the features you require to perform and streamline physical inventory counts. Integrating numerous Stock Count features with our stock management system with data collectors help your stock-counters gain efficiency and speed by scanning barcodes instead of hand-writing quantity details on a clipboard. SIMMS compares its quantities with the details from your data collector to determine any variance that may have occurred. Then review discrepancies prior to finalizing your Stock Count to see if you need to conduct a re-count.

SIMMS Stock Counting features include:

– Create adjustment documents can be created from the stock counts and are recorded and linked to the stock counts for a comprehensive audit trail.

– Decide if you want your physical count to match the theoretical stock at the beginning of an adjustment or you can decide to “zero out” your stock for all items prior to beginning the count.

– Freeze stock from being used while the count is taking place or opt to do a “snapshot” (in order to reduce the interruption to operations).

– Import physical quantity details using data collectors or enter them manually.

– Item quantity details and system costs can be hidden from your stock-counters to help you ensure more accurate counts. Inventory values can be displayed at any time to managers who need this information.

– Print a Variance Report for viewing the discrepancies in the physical and system quantities in terms of percentages, units of measure, and/or values.

– Produce Stock Count documents easily and quickly created for specific items and stock bins making it possible for you to instantly compare physically-counted item quantities to the “system quantity” at that moment in SIMMS.

– Track stock counts in stages that match your current workflow. Stock-counters can enter the data, have it reviewed by managers and then accounting staff can make the final adjustments.

Let SIMMS manage your stock counting concerns today with its built-in speed and accuracy. Give it a free trial here: http://simmssoftware.com/inventory-software/Download-Trial.aspx

Making the Right Choices

simms_decisions

Inventory consumption, items that sell least or sell most, items that depreciate as they sit unsold on the warehouse shelves, or pieces that seem to require more repairs or replacements than do others — all these concerns can lead to much-needed changes imparted by managers and department heads. Complete information is the answer to the challenge for those whose jobs require swift and easy adjustments to make profits maximized and overhead costs limited. Making decisions remains both complete and easy with SIMMS Inventory software.

When systems compile information from a database, they merely grab values that are needed for time-worn formulas. With SIMMS, built-in reports can be customized to link to information that may not be included in those standard formulas. These customized views often produce the best and most useful data. SIMMS also enables you to choose your own preferred versions of the standard screens you use most, and familiarity with them adds to the speed and accuracy you can establish and maintain with the software.

Give SIMMS 2017 a free trial today by clicking here: http://simmssoftware.com/inventory-software/Download-Trial.aspx

Track Your Key Inventory Metrics

simms_jit

An industrial engineering axiom states that what isn’t measured can’t be improved. From an inventory perspective, the metrics are the same for online sales as for catalogs, although the forecasting systems requirements for Internet promotions may be different from those for catalog inventory. The metrics include:

  1. Age of inventory
  2. Cost of backorders
  3. Final fill rate/returns/cancellations
  4. Gross margin return on investment (GMROI)
  5. Initial customer order fill rate
  6. Maintained gross margin
  7. Measures of overstock
  8. Top-line and bottom-line growth
  9. Turnover
  10. Write-downs as a percentage of costs.

Key metrics for stores would include:

  1. Top-line and bottom-line growth
  2. Comparable-store sales (year over year)
  3. Maintained gross margin
  4. Turnover
  5. GMROI
  6. Weeks of supply
  7. Markdowns/margin loss from write-downs
  8. Age of inventory
  9. Sell-through percent
  10. Stock-to-sales ratios.