SIMMS Inventory Management software contains the landed costing features required to make this important process easy. All cost elements for purchased items are identified, while concurrently the progress of orders and their shipments are tracked in real-time. Both lot and serial numbers allow users to track stock in the system and allow their easy assignment to sales projects or orders, while building a shipment and sales history. Warehouse costs can be updated automatically, allowing smooth and simple posting of all landed cost prices. In addition, several orders can be combined into single shipments, saving you time and money on orders made through your decided vendors.
Other available features include the ablity to use FIFO (First-In, First-Out) allocation of goods to track your costs. Generally, items are “pre-costed” before the shipment arrives, and their separate costs are allotted based on several criteria such as weights, value, quantities and/or volume, depending on your needs. When combined with SIMMS’ General Ledger module, your actual expenses and revenue can be pinpointed, allowing your best decisions to be made quickly and soundly, down to the level of separate bills of costs for a single item.
To see more on the SIMMS’ Landed Costing features, read more by clicking here, or gain access to a video illustrating the features here.
