The greatest single asset any business can have regarding its inventory management is nothing more technical than a human being dedicated to the tasks required by inventory. Many businesses rely on machines from data collectors to security cameras but somewhere in the system must be an individual whose thorough understanding and adherence to sound inventory management standards. Armed with the most complete and easy-to-use tools – such as SIMMS Inventory Management software – this devoted employee can make all the difference to a company’s stock accuracy and customer satisfaction.
Someone must thoroughly understand the importance of supply chain science as well as be the versatile and reliable coordinator of physical ins and outs of the business. Inventory Lead Hands are a saving grace and few others have more knowledge of specifics of what you need.
Contact KCSI today to learn more about how a single person can use SIMMS to keep on top of your stock requirements.
The inventory turnover ratio (ITR) gauges the number of times stock has been turned over (replaced and sold) in a year. ITR is a sound indicator of stock management, accurate buying practices and consistent stock quality (whether the items are obsolete or not). It is assessed by dividing total purchases by average stock in a given period.
Measuring your stock turnover is important because gross profit is earned each time such turnover occurs. This ratio can enable you to see where you might improve your purchasing practices and stock management. For example, you could analyze your buying patterns as well as those of your clients to determine ways to reduce the amount of stock on hand. You may wish to turn some of your obsolete items into cash by selling it at a discount. The ITR also will indicate if your stock levels are too low and if you’re missing out on sales opportunities.
The formula is:
COST OF GOODS SOLD
ITR = ——————————–
At KCSI, our experience with, and knowledge of, stock management grows daily by leaps and bounds. Our in-house experts can advise you on precisely what you need to stay on top of your business, keep ahead of your competitors, and optimize your profit margin.
Contact us at firstname.lastname@example.org for the best advice you can get about inventory management practices.
When doing business in the modern commercial strata, companies often have one application to handle one task, a second package to deal with another concern, and possibly others all specialized in their field of mastery. However, getting disparate systems or applications to link together and share information is difficult. The solution to this is to get customized software developed that includes all of your business needs under one umbrella.
If you are an established business or a start-up, KCSI is here to assist you for every step of your software development. We work from concept to analysis to prototype, and then continue through development and, ultimately, deployment of the solution you need. Almost two decades of expertise enable us to understand and build the solution for your needs.
The success of your product requires diversity and versatile technology expertise to develop the custom product that will answer your requirements, improving your real-time data access, streamline your maintenance of the system, and optimize your business processes.
At its base, custom software must be easy to navigate, intuitive and straightforward. It also must function on your devices of choice from mobile to desktop, with the prototype being instantly familiar and the necessary testing being both quick and easy. We also take advantage of automating the tasks that you perform the most often. At the finish, you’ll have what you need in a world-class product.
Contact email@example.com to let us help you devise and achieve the inclusive, sophisticated software you need.