SIMMS 2013’s Inventory Management software’s Item Valuation features empower users to implement within the system the valuation method that best suits their company’s needs. A choice of six leading-edge valuation methods makes SIMMS the most comprehensive package on the market today. Whether your business is in the service industry, providing products or goods, or wanting to be a greater competitor in your local or national economy, valuation is an important decision to help you keep on top of your market.
Overall FIFO (First-in, First-Out), Local FIFO, LIFO (Last-In, First-Out), Average, Weighted Average and Standard Valuation provide different advantages, depending on the needs of your company. The first principal of inventory management is to stock only the goods that you have a demand for. The second principal is convert stock items back into cash as soon as possible. SIMMS can help you achieve those two important goals.
In today’s economy, inventory turnover is of utmost importance. While dealing with rising prices for raw materials and a demand for a wide array of goods required by your customers, the wise choice is to plan for tax savings and the avoidance of debt — companies need to invest money only in stock that is selling, and not base their payments for stock on future sales: they win by owning the items in their warehouse outright, and organizing themselves to most efficiently move the stock out the door. Maximizing your cash flow and minimizing your tax burden and debt load should be the goal, and SIMMS 2013’s Item Valuation features allow you to select the best method to help you succeed.