Your company exists in a huge sea of competition. Industry comparisons take metrics, such as your turnover rate or cycle time, and compare them with other businesses in your industry. Determining how your metrics compare to your competitors’ gives you a way to judge whether your inventory control meets the industry norm, falls short or surpasses it.
The Item Fill Rate is the percentage of items a customer ordered that your company was able to ship. The lower the ratio, the poorer your inventory performance. You should track not only the fill rate for each individual order but the fill rate for all orders – what percentage of orders go out completely filled, and what percentage have items missing.
The Lost Sales metric indicated the number of your potential customers that ask for an item and then go elsewhere because you do not stock it. Companies that use this metric usually track back orders – reserving part of the next scheduled shipment for the customer to purchase – as well as lost sales. Using both metrics will give you an idea of the gap between your inventory and your customers’ needs.
Several metrical considerations are of paramount importance to how well your stock management is handled. Your best system should take into consideration a wide array of avenues for improvement, considering the best metrics in a variety of areas.
Along with accurate stock counts, inventory turnover tracking and accurate cycle times the above metrics will help you gain control of your comprehensive inventory management. SIMMS Inventory Management software provides all the tools that you will need to hold the lead over your competitors. Visit www.simmssoftware.com or email firstname.lastname@example.org today to find out how.
Or for a free trial version of SIMMS 2018, click here: http://simmssoftware.com/inventory-software/Download-Trial.aspx
SIMMS Inventory Management software remains the best Cloud-based software of its kind in the world today. One of the many features that give it that distinction is its built-in security for your data. It is secure not only because the data remains safe from those outside your secure login, but also because your date remains accessible to only those authorized to see it within your company. While other software requires intensive amounts of time from your IT Support Department, the management of SIMMS can easily be established by power users within departments of your choice. Backups can be scheduled and conducted automatically by SIMMS Admins themselves, saving both time and money for your IT expenses.
Whatever the level of support you need, we at SIMMS provide you with what you need. SIMMS is easy to learn, easy to use and easy to upgrade and improve. Few of the maintenance tasks require any technical expertise at all, and we work with you in real time if some problem does occur. Our promise to you is that we will always be dedicated to speed, cost effectiveness, and high quality – all while maintaining the highest standards of security.
We stand in front of SIMMS software so that you can stand behind it.
For a free trial of SIMMS 2018, click here: http://simmssoftware.com/inventory-software/Download-Trial.aspx
A Japanese soap manufacturing company received a complaint that a consumer had bought a box of soap that was empty.
Management tasked its engineers to solve the problem permanently to avoid any recurrence. The engineers worked hard to devise an X-ray machine with high-resolution monitors manned by two people to watch all the soapboxes that passed through the line to make sure they were not empty. No doubt, they worked hard and they worked fast.
A rank-and-file employee that was posed the same problem came out with another solution. He bought a strong industrial electric fan and pointed it at the assembly line. He switched the fan on, and as each soapbox passed the fan, it simply blew the empty boxes out of the line.
SIMMS 2018 has all the features to make your inventory/accounting management just as easy as that fan. Give it a free trial today here: http://simmssoftware.com/inventory-software/Download-Trial.aspx
At KCSI we combine our expensive range of technical expertise with a concerted dedication to our customers’ satisfaction. Our software development services supplement in-house resources to bring you the features you need, using the latest technology within a standardized infrastructure to create interaction, multimedia, and room for improvement.
We produce precise, clean, economical software, easy to use and maintain, that strives for precision, consistency and quality.
Visit www.kcsi.ca to see the extent of our creations, and email email@example.com for information on how your company can benefit from software customized to your exact needs.