Tag Archives: stock coordination

Improving Stock Tracking with SIMMS 2013

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Quite often, stock items that are brought into the warehouse or stock room get conveniently put wherever there is room for them — in a drawer or bin, on the corner of a shelf, under a bench beside an established location, into a bin with other items whose packaging looks similar, and so forth. Inventory that is missing or misplaced must become a situation of the past. You need a stable and versatile stock recording system to do what your company needs and a dedicated individual (or department) that will be responsible and have full control and understanding of the stock system you have implemented.

SIMMS 2013 Inventory Management software lets its users do their jobs, whether they use a data collector on their belt, a wireless laptop tucked under their arm or a desktop computer functioning at the receiving desk. SIMMS will help your business optimize your control of your stock with accuracy and accountability with every item traceable to not only its supplier but also to who received and warehoused it. SIMMS is precise without being imposing or all-consuming.

Electronic data interchange (EDI) and bar code scanning help you to eliminate data entry errors. A system of “cycle counting” – wherein a few items a day are physically counted and their totals are compared to their recorded to the actual count. Highest-selling – and highest-priced items – should be counted more often. SIMMS can help you achieve these goals, and can also aid your efforts to counteract the following challenges:

  • Blocked aisles
  • Damaged equipment
  • Damaged inventory
  • General clutter and disorder
  • Inability to ship on time
  • Inaccurate inventory
  • Lost inventory
  • Low morale
  • Low productivity
  • Shipping errors
  • Work injuries

For more information on how SIMMS 2013 can help you add more precision and control to your stock management, visit www.simmssoftware.com or email sales@kcsi.ca.

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.

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.

Aggregate Stock

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Aggregate Stock is the total volume of multiple classifications of goods contained within a storage facility. The inventory may contain finished goods, raw materials and components. It is also called aggregate inventory. The purpose of aggregate stock is to establish overall levels of inventory that you desire and then applying controls to guarantee that decisions are made so that materials replenishment achieves the goals of the company.

The following goals must be in effect when Aggregate Stock methods are to be used:

• Assess investment levels of the whole company and set targets for improvement

• Develop accountability and link aggregate inventory management controls

• Employ specific techniques like ABC analysis, control parameters and input-output controls

• Measure performance against your own record and against that of your competition

• Pinpoint the drivers of inventory investment levels and then control them.

Most managers have employees making stock that has no immediate demand, they need to produce materials that will earn profits. They may use resources that could better be used for more immediate and profitable needs. Proper deployment of stock can create liabilities. Excess of goods in one place usually means that other places experience a drought. All of these challenges can be overcome by accurate analysis and proper practical planning.

Stock management must establish the lowest level of inventory consistent in balance with achieving the company’s objectives. An excess of stock reduces your Return on Investment and Return on Assets, causing a lower profit margin. Concurrently, it also increases expenses from damage, handling, insurance, interest payments, loss, management, obsolescence, storage tracking and taxes. Aggregate Stock Analysis can maximize inventory levels within the parameters defined by costs, investment objectives, logistics, processes and services.

Whether you use Aggregate Stock in your business or rely on older and slower methods, SIMMS Inventory Management software can help you master your accounting and inventory management needs. Visit www.simmssoftware.com or email sales@kcsi.ca for more information.

Handling Internal Office Supplies with SIMMS

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Detailed inventory control and order processing in your business can be a simple and straight-forward task in consideration of office supplies. SIMMS 2013’s Office Supply Inventory Software can be used as a standalone system complete with multiple locations, inventory tracking, order processing and reporting.

Best Used For:

– Direct Resellers and Suppliers

– Internal Supply Organizations

– Office Supplies Storage/Disbursement

– Wholesale Distributors

With SIMMS 2013’s Office Supply Inventory Software you can:

– Allocate inventory to multiple orders and check status.

– Create a work-group connecting multiple workstations.

– Handle quarantine items and stock returns more efficiently.

– Import Purchase Orders and Pending Invoices for processing.

– Monitor the process of Inventory Items, Purchase Orders and Invoice information.

– Print Pick sheets with bin locations in logical walking sequence.

– Product Inquiries display quantities: On-hand, On-Order, Committed, and Allocated.

– Scan items coming into and going out of inventory.

– Set up multiple warehouses and storage areas to fit your order fulfillment process. – Use detailed reporting.

– View detailed stock and order status screens and set up detailed reporting capabilities.

For more information, email sales@kcsi.ca or visit www.simmssoftware.com.

Management of Transportation

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With outsourced transportation you seek flexibility and ability to combine different carriers or services. Here you need efficient and certified integration and collaboration with carriers, ability to follow up their performance and to automate freight costing and payment.

Owning or contracting a fleet enables you to build increased internal competence around route and load planning to increase vehicle utilization and customer service. Here you need dynamic route and load planning of vehicles, with real-time links to order management for prompt delivery promising, warehouse execution for wave planning and dock door allocation as well as last minute changes.

Concepts that need to be controlled are as follows:

  • Performance measurements & standards
  • Transportation cost totals (optimized)
  • Product movement by efficiencies, rates and traffic lanes
  • Allocation (modal)
  • Outsourcing – 3PL/4PL Partner assessments
  • Tactical cost improvements

Volumes:

  • Truckload
  • Less Than Truckload (LTL)
  • Private Fleet
  • Rail
  • Intermodal
  • Air
  • Express/Small Parcel

For more information on how SIMMS 2013 can help you with your transport management needs, visit www.simmssoftware.com or email sales@kcsi.ca.

How Small Items Hold Big Importance

One of the stock details most often processed but rarely thought about in detail is size. Inventory items are of numerous sizes and with SIMMS 2012 Inventory Maintenance software, you can coordinate your stock from the tiniest rivet to the largest pallet in your entire warehouse, regardless of whether you require tweezers or tongs.

Every one of your locations. shelves, rooms or bins are specifically labeled, regardless of their square footage or volume capacity. Accurate inventory tracking must manage all sizes  of materials, as well as handling the accurate dispersal of item already received into them in advance to the most recently received pieces. With SIMMS 2012, you can also coordinate vehiclesand other moving containers; they can be monitored, and subsequently make transfers into and out of locations with ease and speed.

For all the simple and complex tasks involved in the management of inventory locations, learn more today about SIMMS 2012 by visiting www.simmssoftware.com or email sales @kcsi.ca today for more information.

Criteria for Stock Systems

When deciding to implement a detail-conscious system of stock tracking, every business has a minimum priority in its design.

The features of all stock-keeping must contain some version or form of the following:

Area Transfers – records created when goods are re-assigned to a different building or warehouse

Discrepancy Report – the final reference document produced that provides the comparison with the results of the previous inventory

Finished Goods Stock Take – the physical count of manufactured/assembled materials (conducted no less than once per month)

Finished Stock Return – receipt of sold items as individual quantity

In Process Stock Take – the physical count of items committed to incompletely manufactured/assembled materials (conducted no less than once per month)

Inter-Site Transfers – records created when goods are re-assigned to a different location within the same building or warehouse

Issuing – transactions that deficit the stock quantities on-hand

Item Voids – items removed from inventory due to breakage, expiration or recall

Label Reprint – once stock has been re-located its status in its new site is labeled ASAP

Pallet Summary – physical count of large-block storage containers

Raw Stock Return – receipt of sold items as individual quantity

Receipt – transactions that surplus the stock quantities on-hand

Remainders – stock that has been left over from other projects, including those stripped from sub-assemblies

Stock Take – the physical count of raw materials (conducted no less than once per month)

All comparative systems for inventory management shall consider and record accurately the above details, and maintain them in history for the system to be of any lasting value to your business.

For further details of a complete design for the management of inventory, visit www.simmssoftware.com or email sales@kcsi.ca for more information.

Features Required for Inventory Accuracy

When you have decided to implement a software system to make your inventory management a priority, the many details you have to consider to select the correct one. Before you arrive at the decision, you must know the features that will be the bare minimum requirements. The following is a checklist of the most important features you must possess to gain complete control over the inventory process of your company:

  • ‘Find’ and ‘Filter’ tools to aid in item location
  • ‘Where used’ feature for parts usage
  • Accept partial and over-deliveries
  • All data contained in industry-standard relational database
  • Alternative suppliers for parts
  • Automatic fulfillment of production shortfalls from non-production orders
  • Automatically determines shortages for mix of products
  • Automatically replenish minimum stock levels
  • Bills of Materials and Stores picking lists
  • Configurable user interface
  • Context sensitive on-line help
  • Control of display and order of fields in forms
  • Create product costings (including labour costs)
  • Display and printout of product structure
  • Export parts lists, stock, suppliers and categories in CSV format
  • Fractional quantities with user-defined precision
  • Full ‘referential integrity’ of cross-references within the database
  • Full multi-user networking with user names and passwords
  • Import parts lists, stock, suppliers and categories in CSV format
  • Integral backup and restore
  • Paper and electronic Users Guide including tutorial
  • Partial ordering available for accurate scheduling
  • Point and click creation of multi-level part lists
  • Print bin labels
  • Print Requests for Quotations and Orders
  • Produce customizable reports using Report Builder
  • Produce Production and Non-Production orders
  • Produce scheduled orders
  • Product items fully traceable back to originating orders (for ISO audits)
  • Release individual products from jobs to production
  • Reports include ‘filters’ allowing selective reporting
  • Re-use previous production jobs as template for new ones
  • Select a variety of products for a production job and allocate stock
  • Show outstanding orders
  • Standard Windows® editing throughout
  • Store orders and assembly lists for future reference
  • Track Works-in-Progress (WIPs)
  • Trial kitting allows ‘what if’ analysis (phantom kitting)
  • Undo stock allocation and ‘return to shelf’ capability
  • User-definable item units
  • User-defined currency and precision (decimal places)
  • User-defined fields on stock items
  • User-defined shortcut keys

For a robust and comprehensive package that includes all of the above features and more, visit www.simmssoftware.com or email sales@kcsi.ca to learn more about SIMMS 2012 Inventory Management software.

 

Physical Count Scheduling with SIMMS 2012

Every company planning for regular inventory checks needs to establish that schedule formally within the operations parameters of the business. These checks should be as regular as possible, and staggered so as they are not something anyone can pencil in as would be done with other recurring events like paydays and statutory holidays. At the outside, they should occur no further apart than five weeks, and no more often than every fifteen days. A Monday, then a Saturday, then a last day of the month — the more often the business turns over its stock, the more recent the physical counts should occur.

The schedule should outline materials, zones or sections that are planned for counting, and should be prepared by the designated Supply Officer before the start of the fiscal, with the concept of random-but-regular kept in mind. Each department head knows their rate of stock replenishment and this should be considered as the schedule is being put together. The schedule must stipulate the number of items to be counted, which storage areas and/or storerooms to be examined, and which dates they will be conducted. The tracking software being used must contain at least one column for recording the accuracy rate of the stock records for each completed inventory.Your Supply Officer must demand supreme control to guarantee that schedule is followed to the letter.All storage and stock control personnel and supervisors must coordinate the scheduling of inventories for their respective areas to make sure they can be conducted at a time when transactions can be locked out — or “frozen” — (except for emergency issues), and so that issues and receipts already underway can be completed before the counting session begins.

An important detail is that a Formal Notice of the scheduled physical count session should be posted physically (and electronically, if possible) at least one week in advance. The official notice should include the segment of stock that will be counted and the inclusive date(s) that it will take place. Also included in the notice is the declaration that while the prospective count is underway, only emergency requirements of stock can be allowed to take place.

The “freeze” option is just one of the features of SIMMS 2012 Inventory management software, which can put all the analytical and documentary tools in your hands for accurate and easy stock taking. Visit www.simmssoftware.com or email sales@kcsi.ca today for more information.