Establish clear inventory control policies and involve staff in regular audits to avoid common issues like misplaced or stolen items. Consider working with an inventory management company or investing in inventory management software to strengthen control processes and simplify updates.
Common inventory issues range from misplaced supplies in a warehouse to products stolen from the showroom floor. The first step to protecting your inventory is establishing clear and repeatable inventory control policies. Another way to avoid common inventory issues is to involve your staff in regular inventory audits. An inventory management company can help you avoid common inventory problems by strengthening control processes. You can also invest in inventory management software that integrates inventory room information with the cash register.
Your business needs inventory control policies to avoid common inventory problems. Your sales team must enter the correct numbers and barcodes into their computers to update inventory listings. Returned merchandise must be labeled with the correct product information to avoid losing these items in your inventory. Another common inventory problem is the free flow of samples and supplies from your stock room. Check-in and check-out sheets for each sample or supply keep your inventory lists accurate.
A quarterly or annual staff audit of your company’s inventory can reduce supply chain issues. You can subtract items sold by product number from the total units in a product category to create inventory sheets. All employees, from sales staff to managers, can review their inventory to assess whether their calculations are correct. This rudimentary approach to inventory can lead to significant disparities in your existing inventory control system.
The process of updating your inventory control system can be simplified when you work with an inventory management company. These companies hire contractors and temporary workers to perform inventory audits in a specific region. The audit results allow an account manager to assess his future inventory control needs. These companies often sell proprietary software and hardware that allow for future internal audits. You can arrange monthly or quarterly audits across the business to avoid significant inventory issues without investing in expensive proprietary products.
Your preferred office vendor may carry inventory management software that is cheaper than the software offered by inventory management companies. You can install this software on every computer in your facility to ensure inventory is tracked from arrival through sale. Warehouse staff can scan barcodes on products to check these items against your inventory. Sales representatives can remove products and supplies from the cash register’s inventory list. Inventory management software updates your inventory listings instantly, allowing for quick audits of all items in your showroom and warehouse.
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