3 Tips for Improving Your Warehouse Inventory Management System
In theory, keeping track of inventory seems like a simple task. However, in reality, it's a very complex process that relies on multiple processes being carried out simultaneously. Just one error or miscommunication can cause delayed or missed shipments or inaccurate forecasting that could result in the loss of a valuable customer. A basic warehouse inventory management system is efficient but there is always room for improvement when it comes to optimizing your processes. Here are 3 helpful tips to successfully execute risk mitigation and increase efficiency from your warehouse professionals here at Siggins.
The Siggins Process
1. Access Your Information Quickly
When it comes to forecasting, managing production and other important aspects of your business it's necessary to know how much inventory you have on hand. The rise of e-commerce and the evolution of technology has made it nearly impossible to track inventory levels accurately without continuously updated data. Typically, the information older or outdated warehouse management systems provide is obsolete because it does not have the capabilities to relay current data. Instead, there can be a lag in time which allows material and inventory levels to change significantly before the next update. This can cause problems and you could end up out of stock on an item for an important customer.
Siggins offers inventory systems that provide updated data rapidly, allowing you access information as changes occur. Data can be synchronized or transmitted to the central database wirelessly, with a constant flow of up-to-date visibility. This is made possible with RFID and AIDC technology. When you check on a particular product, you will know just how many you have on hand.
2. Prioritize Your Products
Knowing how well your products are selling in different markets is essential when it comes to optimizing revenue. This kind of information can change quickly which is why it's important to know where your inventory levels are at on a store level. For example, if your product is selling really well in Florida but not in Minnesota, the ability to realize this trend and relocate your inventory can avoid stock outs and loss of revenue opportunity.
Is the way you currently track trends and manage your inventory accurate and efficient? You could carefully go over your inventory and sales records on a daily, weekly, or quarterly basis—or you could leverage a high tech warehouse inventory management system from Siggins. When you have the right system in place, managing a warehouse is much simpler.
3. Check Out Your Floor Plans
Even the best inventory or operation system can be improved. Maybe a different conveyor system will increase efficiencies? Adding more space with a mezzanine could make tracking much easier. Siggins provides a wide range of warehouse management services designed to increase efficiency and make your life easier. To find out more, call us toll free at 1-(816) 281-8044 or respond to our convenient online contact form.
