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FINANCE: Use of Electronic Bank Statements

OPERATIONS: What is Statistical Inventory Control (SIC) and How Does It Work?

TECHNOLOGY: Archiving Data from tipcs300 and ticst300 Tables

1. Archiving tipcs300

• Using Session tipcs2260m000:
  • When archiving PCS projects, selecting the "Archive Financial data" option ensures that:
    • Records in tipcs300 are archived to the archiving company.
    • Records are deleted from the original company.
  • If records remain in tipcs300:
    • They may belong to projects that have not been archived.
    • The project may have been archived without selecting "Archive Financial data."
  • Verify there are no errors during the archiving process.
• Using Session tipcs3500m001:
  • The session "Delete Financial Transactions by Project" can delete records from tipcs300.
  • Note: This session is not for archiving; it removes records without copying them to the archiving company.

2. Archiving ticst300

• Using Session ticst0250m000:
  • The session "Archive Production Orders" allows:
    • Archiving and deleting records from the original company.
    • Only deleting records from the original company.
  • When executed:
    • Records in ticst300 associated with archived orders are removed.
    • Remaining records belong to unarchived orders.

Statistical Inventory Control (SIC) is an inventory-controlled order system designed to maintain stock levels based on predefined thresholds, rather than being demand-driven like EP (Enterprise Planning). Since SIC relies on inventory levels, it may lead to higher stock levels. To minimize financial risks, SIC is best suited for:

• Low-cost items.
• Items with predictable demand or short lead times.

Applications of SIC

• Low-Cost Items: Particularly effective for inexpensive goods.
• Predictable Demand or Short Lead Time: Suitable when demand patterns are stable or lead times are minimal.
• Warehouse-Specific Planning: Useful for planning by warehouse rather than across the supply chain.
• Trading Industries: Commonly employed in sectors like supermarkets.
• Immediate Demands: Effective for items required immediately by customers.
• Ease of Use: Simple to implement and manage.

Limitations of SIC

Transitioning away from customizations can indeed pose challenges, but it's not insurmountable with the right approach. Here’s a look at the real issues and solutions that can pave the way for a streamlined, up-to-date ERP.

Common Challenges:

1. Dependency on Custom Processes
   Custom processes become ingrained, and removing them disrupts established workflows. However, business processes often evolve over time, as do best practices incorporated into modern ERP systems.

2. Cost and Time Constraints
   Testing, retraining, and hiring consultants for an upgrade are valid concerns. Yet, consider the efficiency gains and reduced maintenance costs over time by utilizing standard ERP features.

3. User Resistance
   Change management is critical, as employees can be skeptical of losing tools they’re familiar with. Effective communication about the benefits of standardized, future-ready tools can help ease the transition.

The Reality Check: Has Your Organization Changed?

Evaluate how much your business needs have shifted, how user expectations have evolved, and if any workarounds or interim solutions are now adding unnecessary complexity. Many companies discover that industry-standard ERP features can replace outdated customizations.

Did You Know?