Does your warehouse resemble something from Oscar Madison’s mess of a bedroom or is it a neat, clean, orderly, well-run, and efficient system akin to Felix Unger’s? Is your warehouse an Oscar or a Felix?
Inventory control – the activity of checking a shop’s stock. That was the old way; the era of The Odd Couple, spreadsheets and transaction processing. Today, inventory control, is viewed as a complete operations management structure using logistics and supply chain management through an integrated technological system. With programmed software used specifically for managing inventory, a company of any size can successfully manage incoming inventory, move inventory within or between facilities and quickly push outgoing inventory. Sadly, many organizations function with inventory chaos, aka Oscar Madison. That is the activity of not knowing what you have, where it is, or how to find it. Not very efficient, not very profitable. Felix or Oscar…Which best describes your warehouse?
The goal of most organizations is to reduce overhead costs without hurting or impacting sales. Knowing when, where and how much inventory to plan for and ensuring it is all accounted for at any given time is the main objective to achieving Warehouse nirvana. Using a stock control system to determine the amount of stock on the shelves and in the warehouse is the first step in achieving a warehouse champion status would make Felix Ungar green with envy. Employing a software package that is adaptable, customizable and fast is the groundwork for an orderly, coordinated and logical approach to successful warehouse management.
What options are available to you to improve your warehouse functions and stabilize your inventory control?
- Ensuring that the correct quantity of products are on the self or available for shipping when needed.
- Recognizing when a customer has purchased a product.
- Automatically signaling when more products need to be moved from storeroom to shelf.
- Automatically reordering the correct stock at the appropriate time.
- Automatically producing quality and useful management information reports.
In the new age of inventory control, utilizing inventory optimization as a method of balancing capital investment constraints and service level goals over a large assortment of SKU’s (stock keeping units) while taking demand and supply volatility into account can be a company’s best option to achieve complete inventory control. For successful businesses, gone are the days of letting Oscar run the back-room. Today, inventory management software is a computer-based system for tracking inventory levels, orders, sales and deliveries. Felix would be so thrilled! Adaptable software can be used to create work orders, bill of materials, and production-related documents. A complete inventory management software module can be used to avoid product overstocks and outages. It is your tool for organizing inventory data, replacing those old-school spreadsheets with quality reports, and producing documents and dashboards that enable you to be in control and alleviate chaos.
With customizable inventory control software, there is no need to live with an Oscar of a warehouse. Using next generation technology you can upgrade your warehouse functionality to an efficient, fast, reliable system that will help you to satisfy your customers and improve your bottom line. Go Felix!