Tag Archives: nimble planning

Inventory Reconciliation with SIMMS 2012

Inventory reconciliation is the process of resolving all inventory discrepancies between the actual count of material and the stock record balances. The inventory reconciliation process depends on the type of material being inventoried, the cost of the material, and the circumstances responsible for the discrepancy.

Here is a list of primary steps to take upon the discovery of a necessary stock reconciliation:

1) Perform a full inventory count of all stock at all locations, including damaged stock. Damaged as well as undamaged stock should be recorded. Make sure to also record any stock that is in transit. More than one counter avoids will avoid any miscounts.

2) Obtain a stock allocation plan, with notes being made about the volume measurements of each separate stock area

3) Control any movement of undamaged stock, and isolate each area that is examined

4) Confer with staff as to any stock movements made that are out of the ordinary

5) Confirm the maintained stock records compare with the physical count

6) Examine any items (if any) that have been salvaged from projects/WIPs (these are the most often forgotten items in stock, owing to imprecise transitions wherein the items are not moved from their original allotment to back into available stock).

7) Obtain the latest audited accounts and compare count results with those established on the date of the last physical stock count, noting particularly any items classified as overages or underages (such as where you ordered 20 widgets and received either 25 or 15, respectively)

8) Protect both damaged and undamaged stock and note its salvage value

These and other various areas for reconciliation are easily planned and scheduled using a comprehensive inventory management software such as SIMMS 2012. Visit www.simmssoftware.com or email sales@kcsi.ca for more information.

Stage Fright

Often the purchase of stock items requires 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 to learn more.

Tab A Into Slot B

Methods of physical management can save loads of time for any inventory worker. SIMMS Inventory Management software can help in the restructure of any location. Smooth supply to the shipping department can be a cluttered affair if attention is not given to established practices and techniques set to improve the service to both your customers and your bottom line. Contact KCSI today to learn how SIMMS can help you achieve your business goals.