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Accurate warehouse inventory management requires physical counting of merchandise, reconciling inventory records, and using an inventory management software program. A balance between computer and human management is also important for effective inventory tracking.
Accurately managing inventory in a warehouse can make or break the success of a business. Some of the best tips for managing warehouse inventory involve establishing a system to physically count merchandise, establishing a schedule for recounting, and establishing an inventory management software program that allows staff to easily respond. for the entry and exit of goods or products. Following some of these tips ensures that a company’s inventory management is as accurate as possible.
The first step in setting up accurate warehouse inventory management is to have one or more employees physically count products or merchandise. Physical counting should take place at least two to three times a year. For example, a physical count of the merchandise or products must take place when it arrives at the warehouse. A second physical count may occur mid-year, such as during the summer months of June or July of the year.
Proper warehouse inventory management also requires reconciliation of inventory records. This implies a physical recount of the products or goods. Printing inventory records can show what the inventory management system says is available. This list can be reconciled with a physical count of the number of items that are actually in stock. Updates to the inventory management system can be made to reflect inventory records.
One of the best ways to manage inventory in a warehouse is to find the right balance between a computer inventory system and human inventory management. An inventory computer system helps automate the inventory process because it records incoming and outgoing goods from processing customer invoices or shipments and tracks the number of each item that must still be on the warehouse shelves. The human aspect of the system is a check and balance system that ensures accurate inventory tracking and management.
The automated inventory system can also alert a business owner or employee when it’s time to reorder specific items. This helps ensure that there is never too much or too little merchandise available. Overall, effective inventory management helps ensure high quality customer service because products are available when orders arrive. Incorporating these top tips into a warehouse inventory management system helps keep your business running as efficiently as possible.
Asset Smart.
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