you’ve decided to implement an inventory management system. You are already one step closer to optimizing your supply chain and boosting your bottom line. But like any new system, inventory management does require companies to follow a few structured steps in order to work properly.
Here are some best practices for inventory management, on how you can maximize your ROI and make your supply chain better
- Labeling all your inventory.
- Associate Labeling racks locations.
Labeling racks and locations is essential in taking inventory and helps you better associate your products to their locations.
- This keeps your inventory organized and saves your staff time when searching for an item.
Organize your stock
- Which items perform well and which sit longer in your warehouse
- Move popular items to the front of your storeroom to make it easier for your employees to access them.
this action will keep up with today’s fast-paced market by quickly getting items out for shipment.
Group by like items or even by item popularity to maximize your time and locate your stock quicker!
- Grouping similar items to a designated location on your warehouse floor.
- Labeling racks and locations come in handy. This not only makes it easier for your pickers to access it, but it also consolidates your cycle counts.
Your employees can easily locate your products and better prioritize where they should conduct their cycle counts first, especially when counting top selling items.
Automate Inventory with Barcode or RFID data capture
- It is known that, Taking inventory by hand is an efficiency killer. It burns through time and opens your business up for costly mistakes.
- Automated data capture like Barcodes or RFID, you can achieve at least 99% accuracy on your inventory count, and in less than half the time!
- This enables your workers to continue on to other tasks sooner.
Automated inventory tracking not only provides accurate inventory but also, It even enables you to take inventory more frequently, giving you an even greater oversight into your products.