Controlling Inventory Flow – Why It Is So Important
An ideal inventory flow and warehouse efficiency are essential for organizations to maintain their supply chain efficiency. This facilitates timely shipping of the appropriate supply – an important facet of customer experience done right. According to a study, 66% of retailers made significant investments in Warehouse and Inventory Management technology in 2018.
Let’s explore some ways warehouse managers can enhance their operations’ efficiency.
6 Ways To Improve Warehouse Operations By Controlling Inventory Flow
Implement Ongoing Reviews For Reorders
Any product that has been previously ordered should be thoroughly examined to see whether there is a likelihood that it will be in demand before being reordered. This will assist in guaranteeing optimal inventory levels and minimize the reordering of slow-moving goods.
Slotting optimization procedures should be reviewed before restocking any product. Considering this is essential to ensure the best possible use of space in a warehouse, particularly during the sales seasons of the year. Make sure you always have an inventory process checklist.
Ensure Systems-Directed Resupply
The slots will progressively fill as orders are processed through order fulfillment and picking. The WMS should send an order to the manufacturer if a particular slot drops below acceptable values. However, this created order must consider whether a specific product would be in great demand in the upcoming weeks. The WMS should generate a reorder of items before the product hits minimum levels. This will assist in accounting for seasonal changes in consumer demand and inventory flow.
Ditch Wave Picking
For many years, wave picking was the norm for order picking and warehouse management. Sadly, wave picking causes periods of increased activity and times of complete inactivity. While this can be advantageous for small enterprises, it could harm the development of e-commerce in the retail industry.
Audit Your Warehouse
Audits are essential for eliminating warehouse issues and enhancing inventory movement. It is crucial to audit every transaction to check for correctness and any problems. As a result, more warehouses outsource audits to other firms, enabling facilities to improve constantly. Of course, if coupled with current warehouse management and order management systems, automatic auditing methods may be effective.
Take Help of Third Party Software
There will be times when the current warehouse management system cannot handle abrupt increases in demand. Given the growth of e-commerce during the recent shopping seasons, warehouse managers should think about working with outside businesses to manage warehouse efficiency, integrate systems, or handle transportation requirements. By providing your business access to cutting-edge supply chain technologies, third-party integrators (3PIs) and third-party logistics providers (3PLs) may assist your business in increasing inventory flow.
Track All Arrivals
It is crucial to keep track of each inventory shift, from arrival to slot placement. The tracking creates transactions, which improves warehouse efficiency. These transactions enable tracking of products and offer accurate order status updates. So make sure your warehouse has an inbound load record powered by a warehouse management mobile app that helps keep a comprehensive record of everything that enters in there.
Summary on Controlling Inventory Flow
These suggestions will help improve warehouse efficiency and control of inventory movement, coupled with the contribution of technology. A cloud database will make it easier for warehouse staff to access information from any location and conduct operations efficiently.
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