If your business has a warehouse, you are aware that this facility is an important part of the supply chain. A poorly managed warehouse is much more than a weak link in the chain, as inefficient warehouse management can negatively impact your sales and profits.
Maintain optimum stock levels
Having excess stock in your warehouse increases costs, while not being able to fulfill your order obligations due to stock shortages can reduce your profitability. Keeping stock and returns error-free and efficient improves warehouse management and ensures that you are prepared for all possibilities. By using the warehouse management system, you can easily optimize your stock level at any time and prevent human-induced errors.
Rearrange the floor plan of your warehouse space
Changing the warehouse layout according to needs and making the operation more effective is a proven strategy. Because product supply and demand are constantly changing, it may be more efficient to try storage plans that fit your business model. All warehouse-related arrangements must be made efficiently for the supply chain as a whole to function well.
What You Need to Know and Pay Attention to About Stock Tracking
Inventory tracking, which expresses the retrospective and future evaluation of the available data, is one of the most important business items in terms of sustainability for every business. In this guide, we examine the points you should pay attention to in stock tracking. One of the most important details for the successful growth of a business is to establish the order of the business within itself. The ability of the business to provide its flow smoothly and […]
Control the movement and storage of assets
Accurate detailing of stock levels and accurate fulfillment of orders can only happen when both storage and movement are tightly controlled. With the use of an effective warehouse management system, you can increase your profit margins significantly.
Leverage automation wherever possible
In addition to good warehouse management software, barcode, radio frequency identification (RFID), near field communication (NFC) etc. you can use systems. Automation technology, which is most suitable for your inventory structure, will enable you to access the counting and location information of assets more accurately.
Plan your cycles
To be successful in inventory management, you must implement a cycle counting program. To do this, let’s first go over some factors:
Count frequency: How many counts can your employees do per year? What are the effects of cycle counting on the production, receiving and delivery processes?
Counting strategy: Once you know your counting frequency, you can plan which parts you can count by dividing the inventory. By location or category of assets, or by product or value?
Enumerator: Find a reliable employee who will be responsible for running the cycle counting system.