Is My Inventory Accurate?
Only too often the answer to this question is a resounding “No!”
Depending on your business model, the number of inventory items carried at any one time by your company and how costly each item is, it may not be worth the time to have “perfect” inventory. However, it should be 95% accurate or more. So how do you get there?
Defined Process and Trained Personnel. Without the process from receiving (either from your vendor or from your manufacturing or packing line) to storage, picking and through shipping, that is documented and clear to your warehouse personnel, it is virtually impossible to maintain an accurate inventory. Your software should have all of these steps built in.
Accurate Data Entry. It’s been documented that manual data entry causes transposition and other errors, even with the most experienced people. Moving to an automated process such as barcode scanning or voice activated data entry will increase the accuracy to 99%+.
Regular Inventory Counts. These can be complete inventory counts or cycle counts. Again, the size and value of your inventory along with your shrinkage rate will dictate how often you physically verify the inventory items.
Dynamic Systems has been helping companies improve their inventory accuracy for over 30 years. Email Us to see if we can help you.
Fresh Food Packer Needs Accurate Inventory
If you are selling fresh food, it is critical that you know what is available in your inventory and how long it’s been there. Freshness often dictates the price you can ask for your product. And there’s nothing more frustrating than closing a sale that you can’t deliver because your inventory is inaccurate.
When our SIMBA customers pack their fresh food item (whether it be a fish or an onion), the system records the lot number, the pack date, and adds that carton to inventory. SIMBA Logistics records the location of the carton in the warehouse and verifies the shipment of that carton by carton number. If this process is followed, the inventory is always accurate.
Barcode Labeling Your Inventory and Assets
We often get questions regarding how to barcode specific inventory or asset items. They may be stored in freezers where normal labels fall off. Or the item may be particularly small or difficult to label, as are many expensive tools and equipment. As barcode labeling experts we can help choose the best label. Examples are:
- All-Temp or Freezer-rated Labels
- 2D Labels for Small Areas
- Labels for Wood and Lumber
- Metal Rivet-on Tags
- Asset Tags that Destruct Upon Removal
Check out the options we offer for labeling. Labels and Asset Tags