5 Steps to Effective Warehouse Inventory Management

warehouse

Warehouse inventory management is a process that can easily be overlooked. However, there is much more to the process than just keeping the space organised; effective warehouse inventory management focuses on maximising productivity whilst saving time and money. If you are unsure how to ensure that your procedures are effective, keep reading.

 

Understand Your Fixed and Movable Tracking

Many businesses focus on moveable tracking options and forget about fixed warehouse assets. This means that the pallets and units that get moved up the supply chain are the primary concern, however by considering the fixed assets you will find it much easier to make strategy decisions. It can become confusing as fixed and movable options are so different. A great way of making it easier to deal with both aspects of tracking is by thinking of fixed and movable parts as separate entities. This will allow you to keep on top of each aspect of tracking, without getting the two mixed up. Staying on top of both of your fixed and movable tracking will really help when it comes to the overall warehouse inventory management processes you have in place.

 

Get Real- Time Information

One huge problem with older warehouse inventory management applications revolved around the delay in product movement and the software. This lag caused major issues as it was difficult to keep track of where stock was and where it needed to be. However, the systems of today are much faster, and update immediately. This will allow you to get real time updates regarding the movement of items, meaning you know where everything is at all times. By ensuring you have updated software, efficiency will increase and mistakes will decrease. Furthermore, the ability to check on stock at any time will make it easier to make decisions and remove confusion.

 

Floor Plan Reorganization Can be a Good Thing

Many stockroom managers are afraid to change the floor plan of the space. This is often down to them worrying that this will slow procedures such as pick packing because employees will have to relearn where everything is placed. However, demand changes, meaning popular products and best sellers will change, so don’t be afraid to move things around to make it easier to access the new best sellers. Instead of slowing down processes, this will actually speed them up. This is a great, free, warehouse inventory management technique that will prevent you from getting into a rut and therefore, will help you to continue to improve.

 

Track High Sellers

Many warehouse inventory management applications will have the ability to keep track of orders and sales per customer and per product. This is the information you should be using to help reorganize your floor plan. The aim is to use this information to make picking and delivery as easy as possible for the most bought items, the quicker you are able to get these products to the customer, the happier they will be and the more money you will make. Don’t let these helpful aspects of your software go to waste!

 

Tidy as you go

In a busy stockroom it can be easy for things to get out of control and for the entire space to get messy. This mess will cause major problems for all of your employees if you don’t deal with it. Instead of allowing the space to get to this point, allocate time to tidying up each day. If you keep on top of it, you wont have to waste hours tidying. Instill a tidy as you go mentality in staff, and your profits will show the benefits.