Supply and demand is the central anchor of inventory management, and making sure you have enough stock on hand to meet order requests can be challenging, especially if you have variable peaks in your industry. By using the Moving Average Inventory Method, you can use historical inventory levels to predict future demand, thus empowering you to better plan financial and physical resources.
With the Moving Average Inventory Method, you re-calculate the average cost of each inventory item in stock after every inventory purchase. The calculation is the total cost of the items purchased divided by the number of items in stock. The Cost of Ending Inventory and the Cost of Goods Sold are then set at this average cost.
To use this method, you need to employ a perpetual inventory tracking system because the moving average cost changes whenever there is a new purchase. Up-to-date records of inventory balances are necessary to produce results in this method. The moving average method yields inventory valuations and cost of goods sold results that are in-between those derived under the first in, first out (FIFO) method and the last in, first out (LIFO) method. It is challenging to employ the moving average method when inventory records are recorded manually, and the additional clerical staff would be overworked by the number of required calculations. However, when the inventory valuations are calculated by a computerized system, the continual adjustments to valuations are always current and always accurate.
One such computerized package is SIMMS 2013, a feature-rich and fully-modern inventory and accounting management package. Visit www.simmssoftware.com or email firstname.lastname@example.org for more information.
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.
Most companies that have not adapted over to specialty software for the control of their inventory management have “blind spots” occur in the accuracy of their counting procedures. If businesses are not careful, stock can go into a virtual void wherein personnel think that items are today exactly where they were two weeks before. Much can happen in two weeks and stock can be moved to an adjoining shelf to make room for newer arrivals and can thus cause counts to be inaccurate.
With a capability to “freeze” the stock during a scheduled stock count, SIMMS Inventory Management software isolates the discovery of these inexactitudes, and their adjustment so that the physical stock is re-placed to where it is supposed to be. Most tracking software treats inventory stock in a vague fashion. This form of physical count combined with a location-by-location checklist of all items down to the exactness of bins, shelves and drawers. SIMMS brings the precision and accuracy that you need for your business while providing physical transfer capability that allows a record any shelf-to-shelf “bumps” so counting becomes easier than ever before.
Visit the SIMMS website today or email email@example.com to learn more about how SIMMS can truly keep you on top of all your items all the time.
Check out this video to learn more about how SIMMS 2012 is the best choice for your apparel business:
SIMMS 2012 is a comprehensive manufacturing, accounting and advanced inventory management system, that allows for growth within your company as it expands to incorporate more functionality. Customizable and easy-to-use, SIMMS prepares you to expand your business into its most productive and financially optimized state. Evolving and energized companies, small or large, can benefit from the productivity that cutting edge manufacturing and accounting features provide toward greater profitability and efficiency.
Phantom kitting, versatile reporting, point of sale support, customizable windows and transaction forms, integration with handheld devices, payroll, E-commerce, and customer relationship management (CRM) capability make SIMMS 2012 a robust choice right out of the box. Drop-shipping ability, single entries to increase speed and reduce manpower on data entry, and stock-on-hand notifications for ease and accuracy of reordering are just a few more additions to an inventory and accounting software package that offers much more than its competitors.
Give SIMMS 2012 a look by clicking here or book a demonstration here.
Growing from the Apparel Matrix established in previous versions, SIMMS 2012 has enhanced and new apparel features, including:
– A date filter has been added to the Apparel Stock Report.
– All styles for a specific item can be viewed as a group;
– All items that possess a particular style can be viewed as a group;
– All items of all styles within the system can be viewed as a group.
– Transactions are not just dedicated to apparel items; non-apparel items can now be included on the same invoice as apparel items;
– Purchase and Sales Orders, Quotes, Invoices, Receipts, Transfers, and Service & Return processes (RMAs and RTVs) all have the apparel matrix available and more robust in its application.
SIMMS 2012 Apparel features have brought it to the forefront of the clothing inventory market. Check out other features here to convince you that SIMMS is your choice for your apparel stock management.
Did you know?
The transportation and logistics industry is fast paced and involves complicated tasks that require 100% accuracy, while maintaining costs. Thus it is very important to employ the most sophisticated technology and software to be successful.
SIMMS Item Barcoding Software is extensively used in this sector because of its ability to eliminate human errors and expedite the work flow process.
Want to learn more about products & solutions for transportation & Logistics? find out more at www.kornyk.com
SIMMS Inventory Software Version 8.0 has been released
Abbotsford, BC Apr 29, 2011
KCSI today is pleased to announce the release of SIMMS Inventory Software Version 8.0, a widely anticipated update to its popular Inventory Software Application. SIMMS Software turns your computer into an advanced inventory management and accounting software tool, giving you the ability to setup inventory items, transfer your inventory from location to location, complete sales and purchasing transactions, track serial numbers with manufacturer lot control, expiration date management, Accounts Receivable, Accounts Payable, General Ledger, Order Fulfillment and Replenishment, Order Picking, Remote Data collection, Barcode printing and more.
The new SIMMS Inventory Software version now includes a brand new smarter look and feel to the user interface along with customizable grids, easier to use order entry screens, enhanced item cost tracking, improved faster loading screens, new modules such as the order picking module with 2D barcode scanning capabilities, 2D barcode printing and more.
Kornyk Computer Solutions International, Inc. (KCSI) is located in the Vancouver suburb of Abbotsford in British Columbia, Canada. Since 1996 we have evolved into a global Software solution provider and programming house that develops and integrates business inventory management and accounting applications.
SIMMS Inventory Software Website
KCSI Canadian Website – Canadian Site.
Inventory Management is simple using SIMMS Inventory Software, feel free to watch our video illustrating some of the key areas we have enhanced SIMMS Inventory control software.
Register for an online presentation of SIMMS version 8.0.
Download a trial version of SIMMS Inventory Software Version 8.0
SIMMS Sales features let you customize each quote you give whilst knowing all the costing details.
Sales orders can be issued as complete or for only the partial status, and generate invoices for each stage. Users can even add items related to sales orders to purchase orders already in the system. Utilize security settings to allow sales orders to be approved and authorized prior to the issuing of stock. Sales orders can be placed on hold to control their issue and/or directly issue stock at the sales order level. Clone sales orders from saved sales orders or easily convert existing quotes into a new quote to streamline repeat orders.
Keep the rotation of your stock by monitoring and controlling items’ expiration dates. Select and maintain serial number and manufacturer’s lot information for your stock. Quickly choose select alternate Ship To and Bill To addresses are easily selected. Users can apply quick payments towards invoices all on one screen.
All these requirements are seamlessly handled through SIMMS’ Sales features intuitive General Ledger Module to complete any necessary processes.
KCSI, the world manufacturer of SIMMS Inventory Management software, are leaders in inventory software for small to medium-sized businesses. Contact them today to learn more about the importance of managing your stock accurately and thoroughly.
Web authors everywhere — and in this day-and-age they really seem to exist EVERYWHERE — always want something. Perhaps it’s attention to fuel their tiny egos. Perhaps it’s because they want you to pay them money for some useless but pretty bauble. It just might be that they are some sort of genius and just like to have a web presence for their fans to bask in their glory. But on occasion, and only just occasionally, they might have something to say of value. They might just raise a point or two that settles an argument or provides a service. One such company is Kornyk Computer Solutions International. If you’re seeking an inventory management software solution, visit www.kornyk.com and spend a minute having a look at the SIMMS system. You’ll be glad you did.