Managing inventory operations can make all the difference to productivity within your supply chain. By organizing your warehouse operations effectively, you can get benefit such as
• Maximize the use of storage space
• Save time
• Keep the record of stocks
• Fewer Overheads and increased cost-benefit
You can get all these benefits by implementing some very simple steps within your workflow. Let’s take a look at some of the best ways of achieving a more managed warehouse inventory.
• Arrange the warehouse properly
There are certain stocks which used more frequently than other stock, plan your warehouse space with these stock in mind. Always put the most commonly used items in an easy to access location. By making all these necessary arrangements, you can save the time it takes to load and unload such items.
• Demand forecasting
Some times of year will be busier than other times, especially the peak season, so plan ahead and accordingly for your business seasonal demands. Forecast the demand based on past sale records and ensure that you have enough stock for that time period to avoid any delay.
• Be Flexible to the change
Business demand change over time, what may have worked for your business earlier may not work in later years. Examine how your warehouse operations carry out every year, check your stock records and new changes in your business throughout the past few years. Evaluate every area very carefully to make the necessary changes to run it more effectively.
• Implement Cross Docking
Cross-docking is a form of supply chain management process in which the products from a supplier or manufacturing unit are shipped directly to a customer or retail chain without any requirement for the storage of goods in the warehouse in between. That means a quick turnaround for your business, saving time and money. It is not ideal for all needs, but it saves cost and time for a certain stock.
• Give the right training to your staff
A staff that understands warehouse inventory operations will keep it better and manage the business more efficiently. By having knowledgeable staff, you can ensure that your workforce maintains a properly organized warehouse inventory.
• Label your items
Put SKU(stock keeping unit) numbers on every item in your stock in the warehouse. It clear labels ensures that it’s easy to identify products, before moving or transporting them. A barcode system can also be used, depending on the needs and size of your business. Whatever you use, ensure it’s up to date and that no numbers are re-used inappropriately.