Tag Archives: analytics

Accounting with SIMMS 2015

accounting

SIMMS 2015’s Accounting Software solution is the smart solution for organizations looking to replace a stand-alone Accounting program with a comprehensive business management solution with built-in integrated accounting functionality. SIMM

SIMMS’ Accounting is particularly structured for medium- to large-sized mid-market businesses with 10 to 1,000+ personnel. It contains advanced financial management, which serves as the core for the entire suite of applications.

Beyond the solution’s central accounting functionality, SIMMS 2015 also includes advanced budgeting, advanced allocations, multi-currency management, currency trader management, advanced banking, budgeting, fixed asset management and cash management capabilities. It’s all you’ll need for accounting – and more.

• Accounts Payable: Our SIMMS Accounts Payable module provides a comprehensive solution for managing expenditures.

• Accounts Receivable: The SIMMS Accounts Receivable Module tracks receivables, plans cash flow and provides extensive information and reporting features to give you vital business insights to plan for the future.

• Banking: With SIMMS you can edit and add credit card and bank accounts, and easily enter deposits, transfer funds, enter cash, cheque or credit card transactions as well as reconciling cash and credit cards via bank reconciliation.

• Budgets: Maintain and enforce budgets with ease and transfer budget amounts from one account to another.

• Financial Reporting: SIMMS offers virtually unlimited financial reporting capabilities.

• Flexible Chart of Account Structure: Create account structure to fit your business needs using up to 30 characters and 10 segments.

• General Ledger: The SIMMS General Ledger module has many powerful features to help you efficiently manage your accounting.

• Multi-Currency: Process payments and invoices in multiple currencies.

• Sales Commissions: Calculating sales commissions due has never been easier. SIMMS can auto-calculate commissions based on either the AR receivable or the Transactional method.

For more information on how SIMMS 2015 can provide for your accounting needs, click here

SKUs and SIMMS 2015

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The (Stock Keeping Unit) SKU Configurator can be used to determine the composition of the SKU (Item) number. Selection of some characters from the item’s category, subcategory, vendor’s part number, manufacturer or vendor will add them to the SKU number’s format. Users can instead choose that an auto-generated number becomes part of the SKU.

In addition, you can designate how many items have been created under a category and assign that particular item an incremented number anywhere within the SKU configuration. If required, SIMMS 2015 has a manual SKU override where you can manually assign an item your own item code outside of the SKU generation automation.
SIMMS has the capability to assign a particular SKU item number to each inventory item configured in the Inventory Manager, enabling users to automatically assign a particular product’s item number based on an SKU formula that can be devised using the SKU Configurator.

This can be done upon the creation of an item, with the result that once the selection of either the item category, subcategory, brand (sub-sub category), model (sub-sub-sub category) or manufacturer has been made and the Save button has been clicked, the Item code SKU will be automatically created based on the selected options.

Examples of the available SKU choices listed are as follows:
• the first two characters of a category
• a 5-character item incremented number
• the first three characters of a subcategory
• the first four characters of a manufacturer
• A 4-character automatically-generated number for a vendor
• A specific example of an SKU could thus be as follows:
the category of a computer: SU (for SUPER COMPUTERS)
the 40th item configured under the category: 00040
the sub-category: FAN (for FANS)
the manufacturer: PHILL (for PHILLIPS)
the vendor: Ingram Micro (with an automatically generated code of 0009)
Subsequently, the resultant SKU would be SU00040FANPHILL0009.

Visit here to learn more about how SIMMS 2015 can help you with your SKU requirements.

Point of Sale with SIMMS 2013

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SIMMS 2013’s POS (Point of Sale) process makes cash register automation a new high standard. You can track administration, manage charge account information, customer habits, purchases, administration, and printing included in a simple and seamless integrated solution.

You gain powerful accounting capabilities and expansive inventory control management within a single system.

SIMMS’ featured point of sale software solution that combines data and function to produce more effective asset and cash management. In a familiar Windows format, it is flexible and efficient, providing your retail business with cutting edge technology and instant comprehensive control to help your business grow.

SIMMS 2013 POS is a breeze to setup and empowers you process sales transactions for any retail company. You gain back the time to enhance your customer’s shopping experience and gives you the tools necessary to analyze and increase your sales and improve profitability. SIMMS is an ideal match for both single stores and multiple retail outlets and will automate your company simply and quickly, handling the tasks of daily inventory of your stock and managing your vendors and customers.

If your future emphasizes precision and growth, SIMMS’ POS will lead you there. For more information on POS, visit www.simmssoftware.com or email sales@kcsi.ca today.

Tracking Your Manufacturer’s Lots

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The ability to track serialized and lot-related parts to a customer is important for warranty and service management. SIMMS Inventory Management software provides the ability to create serial numbers and manufacturer lots at any time during manufacturing. Finished products are assigned serial numbers and/or manufacturing lots and when shipped to the customer, the serial numbers and manufacturing lots used are saved to history, providing their traceability against the original customer order.

The ability to track component lots from raw material to finished product shipped to customers is a key requirement for many companies. SIMMS 2013 provides this functionality for either stocked parts. Upon receipt of lots from a vendor or from manufacturing, lot traceability provides where-used and lots-used visibility. An optional feature is the ability to designate a group of attributes that can be collected and tracked for each lot. These attributes follow the lot for the history of the lot record in the system, providing for historical quality references even after shipment.

SIMMS empowers you to use Manufacturer’s Lots to:

  • Build kits using items with assigned lots
  • Issue your lots manually or have SIMMS automatically issue from lots with the oldest expiration dates first or by earliest lots created/received
  • Produce a comprehensive lot activity history
  • Quickly generate Production Lot Reports
  • Receipt of multiple lots for the same item, or multiple items in one transaction
  • Serial number tracking (organized by serial number or lot), including user-defined serial numbers (in place of, or in addition to, original serials)
  • Traceability of lots on every level, from vendor through to customer

For more information about manufacturer’s lots in SIMMS, visit www.simmssoftware.com or email sales@kcsi.ca.

Sales Analysis with SIMMS 2013

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A Sales Analysis report shows the trends that happen in a business’ sales volume over a block of time. In its most basic form, it shows whether sales increase or decline. At any time that suits them, sales managers analyze the trends showing in the report and then decide the best course(s) of action. Managers will employ Sales Analysis reports to identify market opportunities and areas where they could increase sales. In such cases, customers may show a history of increased sales over certain periods; such information can be used to ask for additional business during these peak periods.

In some industries, the Sales Analysis report is often used to estimate market prices. Details or features of an item may determine its market value, based on what the market has paid in the past. In certain lines of business, this same principle can be applied to a item’s brand name, reputation or raw materials.

Vendors often design sales reports for other companies to illustrate the repeat sales of new items versus established ones. This kind of sales analysis can contain the percentage of revenue coming from different customer groups, and this type of breakdown is useful for managers who want to know if they’re retaining business as well as in the measurement of the effectiveness of new advertising, new products and the deliberate targeting of new customers.

A particular detail that a Sales Analysis report can reveal is the condition of product demand. A steady (or eventual) decline in sales of a single item may suggest numerous problems. A long-term decline may mean that the time has come to discontinue the sales of an item or to select another. A decline can partially reveal that customers’ needs are changing. The managers’ choice may be to repackage or re-brand the item for a new purpose or a new target market.

Some Sales Analysis reports show a business’ actual sales for a specified period — a quarter, a year, or any time frame that managers recognize as significant. Such reports may contain data for only divisions, regions or subsidiaries if the company is large, or only locations and/or items when the company is small. Other Sales Analysis reports compare Projected sales to Actual sales.

Comparisons are made all the time — last quarter versus this quarter, bulk sales versus top list sales, averages versus highs and lows. With SIMMS Inventory Management software, scores of analytical reports keep your most significant figures at your fingertips. Whether it is trends in purchasing or sales, top-selling items or inventory turnover rates, SIMMS can show the numbers you need most, both for current day or over a selected time period.

Contact KCSI today by visiting www.simmssoftware.com or emailing sales@kcsi.ca to learn more.

Using SIMMS in Business Planning

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When computer software systems coordinate information from a database, most often they just grab values that are needed for time-worm formulas and display them into anachronistic formats or forms. With SIMMS Inventory Management software, built-in reports are customizable to create links to information that may not be included in standard reports or long-time formulas. These customized views usually produce the best and most useful data.

In regard to stock consumption, items that sell least or sell most, items that depreciate as they sit unsold on the warehouse shelves, and pieces that seem to need more repairs or replacements than do others — all these developments can lead to much-needed changes to be imparted in the system by managers and department heads. Complete information is the answer to the challenge for those whose jobs require swift and easy adjustments to maximize profits and limit operating expenses. Decision making becomes simple and complete when using SIMMS Inventory Management software.

With SIMMS, you also have numerous tools and analytical data from various reports and displays that provide you with the material needed to make the most sound business decisions. Often as vendors change, and prices are adjusted either higher or lower, inventory and accounting personnel need to adjust the details of doing business. Perhaps more profits can be made by introducing an entirely new plan, or often a subtle adjustment can make all the difference. Such new plans require the data to be current and accurate.

To learn more about SIMMS, visit www.simmssoftware.com or email sales@kcsi.ca today.

Stock Counts Needed in Future

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Anticipation inventory is inventory held or stacked by a firm to meet unexpected need or demand for a product that cannot be satisfied by the current production team. In other words, if the production unit suddenly goes on a strike, finished goods will not roll out of the factory. In such circumstances, the company’s sales might get affected. However, a proactive firm with an anticipation inventory would be able to meet such unlikely crisis and ensure that the sales do not get affected. Anticipation inventory is only a temporary solution and can meet the sales demands until the inventory units get exhausted.

Often the purchase of stock items may seem to require some sort of clairvoyance to know the quantities that customers will want. SIMMS Inventory Management software will enable users to set up blocks of time — known as stages — during which such transitive items can be bought in advance of the systematic ‘rushes’ that occur throughout a financial quarter or term. Analytical reports on usage and inventory turnover can help the pattern be spotted long before the rush comes.

Contact KCSI today or visit www.simmssoftware.com to learn more.

Tracking Your Key Inventory Metrics

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An old 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 system requirements for Internet promotions may be different from those for catalog inventory.

The metrics include:

  1. Top-line and bottom-line growth
  2. Maintained Gross Margin
  3. Initial customer order fill rate
  4. Final fill rate/returns/cancellations
  5. Gross Margin Return On Investment (GMROI)
  6. Turnover
  7. Cost of Backorders
  8. Age of Inventory
  9. Measures of Overstock
  10. Write-Downs as a percentage of costs

Key metrics for your 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

Tracking the above metrics should help you gain a foothold of your market, provided you make adjustments that reduce overhead and expand revenue simultaneously. Coordinating such concerns requires a comprehensive accounting and inventory management solution; your best choice for both price and features is SIMMS 2013.

Visit www.simmssoftware.com or email sales@kcsic.a today for more information.

Expenses from Ordering Inventory

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When orders are placed by a company for stock replenishment, certain costs are involved, and for most practical purposes, it can be assumed that the cost per order is constant. Ordering costs will often vary, depending upon the type of items; raw material such as iron against production components such as casting. You can, however, calculate an estimate of the costs for a particular group of items.

Included in these costs are the following:

– Paperwork costs, typing and dispatching each order
– Subsequent costs needed to insure timely supplies (including travel
costs for purchase follow-ups, telephone, telex and postage)
– Receiving costs (including checking, inspection, handling in-store)
– Setup costs of equipment (if charged by the supplier, either directly
indicated in quotes or assessed through quotes for varying amounts)
– Salary/Wage costs within the purchasing department

Ordering costs usually fall within a set range, but the cost can vary significantly depending upon the efficiency of the purchasing department. If dealing with staggered deliveries, the amounts must often be adjusted to acquire an “economic receipt quantity” instead of an “economic order quantity.”

Whichever plan you put in place to handle and understand your ordering processes, you will need a comprehensive software package to help you analyze sales and calculate the proper order quantities that do not inhibit profits or delay sales being made. SIMMS Inventory Management software is a feature-rich amalgam of tools and reports that will help you manage your business with complete confidence.

Visit www.simmssoftware.com or email sales@kcsi.ca today to learn more.

The Buildup Chart

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One of the great tools in inventory analysis is the Buildup Chart. It uses the recognized x-y coordinate chart, and on it you plot cost build-ups over time (usually organized by product group) with Cost on the vertical “y” axis and Time on the horizontal “x” axis.

Most often, costs of raw materials accumulate first over time, soon to be followed by labor and overhead costs. In the design you must allow for safety stock, lot size inventory, transit stock, defects/rework/scrap, and finished goods and distribution pipeline stocking. It ultimately also reveals the affect of consignment arrangements. Various analysts also treat accounts receivable as a type of de facto inventory, until it is paid for.

Once the chart is completed, show it around for shock value. Created correctly, it will cause much thought about the effect of constraints and decisions on inventory. It will help inventory managers realize where the weaknesses in the current stock management system and will help devise the changes that need to be made.

Two examples of how Buildup Charts can indicate areas to be improved are as follows:

– One company had a 14-month buildup curve, which was reduced to 4 months.

– Another company discovered that the longest lead time material item accounted for only 20% of the product cost, so stocking only that item — instead of finished goods or instead of only reacting to orders — enabled them to radically reduce the response time for orders by 70%. It also added the flexibility of being able to use that raw material to make a number of different end items.

SIMMS 2013 Inventory Management software has a wide variety of analytic tools to help you gain the most important information about how many aspects of your business are doing. Visit www.simmssoftware.com or email sales@kcsi.ca to learn more.