Meeting the challenges posed by the pressure to supply products across multiple channels on time requires sound inventory management processes. Here is a look at some tips for optimizing your inventory management.
Consider a New Floor Plan
Many warehouse managers initially balk at the prospect of restructuring their floor plan. After all, this can be a huge undertaking and it requires everyone involved in the process to get used to the new layout. However, there is often room for modifications that can boost efficiency. Product supply and demand are constantly evolving, which means storage changes are often in order to keep things running as smoothly as possible.
Pay Attention to Top Sellers
The top-selling items need to be placed in strategic locations in the warehouse where they can be found and followed easily. This has a number of benefits, including faster shipping.
Look into Cross Docking and Wave Picking
Cross-docking can be a great way to reduce storage and handling time. It enables firms to manage their warehouse inventory seamlessly and facilitates storage. Those with complex shipping systems might want to make use of wave picking or even a combination of the two approaches.
Take Advantage of Inventory Management Software
The right software can help warehouse managers to obtain real-time product updates. This can be used in conjunction with RFID tagging to help keep accurate inventories. The result is better decision-making and less confusion.
Decide Between Fixed and Movable Tracking Options
Movable tracking enables you to see the location of a product, how it can be accessed, and whether or not it is ready to be shipped at all times. Fixed tracking, on the other hand, can also be a good option because it allows you to assign destinations precisely. Both options can even be used together in order to maximize results.
Getting inventory management processes just right can take a bit of trial and error, but it’s an effort worth making as it can pay off for years to come.
This blog post was based off of an article from Newcastle Systems. View the original here.