4 Inventory Management Mistakes and How the Right Software Can Help

4 Inventory Management Mistakes and How the Right Software Can Help

Mistakes happen. In all walks of life, things are going to go wrong, the unexpected will arise. It’s in the way that we deal with them and, even more importantly, the way we ensure that they don’t happen in the first place, that helps us improve and move forward. These same truths exist in the world of inventory management. Let’s take a look at four common inventory management mistakes and how the right software and solutions can help you prevent them.

 

1. Overwhelmed by Overhead

Every efficient operation’s worst nightmare is inflated operational overhead. We’ve all been there and it can happen quite easily. The slightest change in inventory can result in having too much, or too little, of what you and the customer need. The most minor lack of information or data at your disposal can lead to major operational slowdowns, cause huge efficiency hurdles, and seriously harm customer relations.

Knowing absolutely everything you can about your inventory can go a long way to fixing this most common of problems. A good inventory management and tracking solution will help you make informed decisions that allow you to find the perfect balance between demand management and inventory optimization. Through real-time data, exact inventory counts, and detailed reporting, you can gameplan well into the future to cut back on dreaded overhead.

 

2. Put a Process Around It

The people that run your warehouse are the lifeblood of the organization. They are the ones putting in the work that makes everything run smoothly in the end. But, they are also people, and people make mistakes. If your inventory management system is heavily reliant on people and pen and paper processes, mistakes won’t just be an inevitability, but they’ll happen frequently, too. This can all be addressed by putting a proper process in place

Placing the power of inventory tracking into the hands of your employees serves two major purposes. First, it will cut down on these errors by streamlining the process and taking the guesswork out through real-time data and information that’s designed the work with accuracy and efficiency that no human can match. Second, it clears the logjam of pen and paper by working in real-time to ensure that tasks don’t get stacked up and helps provide a true process for having accurate, up-to-date information that people using pen and paper approaches simply cannot keep up with.

 

3. Who Checked That Out?

We’re guessing this is a question you’ve probably heard, or asked, before. Inventory tracking isn’t just about keeping tabs on the things that will find their way into the hands of your customer, it’s also about keeping an eye on internal assets, too.

Turn the check in and check out process of your rotational assets into something far more manageable through the right software. Gain real-time visibility into your equipment with information on everything from who checked it out, to where it is and when it’s scheduled to be returned. Increase overall accountability while also giving yourself more data into these rotational assets with things like maintenance reports and more.

 

4. Mail Room Madness

Just like the issue above, it’s not always on the warehouse floor that you find the most common, and avoidable, inventory management mistakes. Sometimes, these issues spring up in the mailroom. Though not as big as the warehouse, many mailrooms suffer from the same obstacles and hurdles on a slightly smaller scale.

Slow down the madness of the mailroom through better tracking. Give your mailroom the power to track incoming packages and documents so that they’re given every advantage to make their job easier, while making your operations more efficient. From corporations and government agencies, to hospitals and universities, a true package tracking solution can deliver serious loss prevention and improve workflow through real-time information.

The truth is, mistakes are always going to happen within any organization’s inventory management system. However, there are ways to greatly reduce and in many cases, completely eliminate these mistakes. Ensuring that you’re giving yourself, your employees, and your organization at large the best possible information, tools, and resources available today is the best place to start.