The one crucial thing that all distribution company requires in order to expand well is getting the stock right. "How much stock do I have?", "Where is my stock located?", "Which customer have what stock?", many distribution companies are after information that are not being handled by their current system. If you are familiar with these questions, you might be after a new inventory system. Below are the basics required to improve tracking within your warehouse.
Your organisation might already have multiple warehouses or will do in due time as your company grows. You will require the ability to define locations within your inventory management tool in order to locate where is your stock sitting in order to derive whether you have enough stock or not.
For high-valued items or items that needs to be uniquely identified, serial tracking is required so that you can at any point in time find out where a particular item is - down to the serial number - in your business. In addition, once sold, it will allow you to keep track of which customer is holding which serial number which is valuable for warranty, servicing or repairs for example.
Similarly, items that have been produced at the same time (and/or produced using the same materials) can be tracked using batch numbers. This is ideal for recalls and to improve expiry dates tracking throughout your stock.
In order to optimise your reordering process, replenishment tools define any minimum, maximum and/or safety stock levels as well as the lead times for the goods to be delivered to you amongst other parameters. This allows you to make quick and easy decisions based on what item are being sold well and have to be reordered in order to fulfil all the demand.
The right reports are then required to put these information in the right way so that the administration or management team can obtain the inventory information required.
Contact us at firstname.lastname@example.org to learn more about our inventory tools and practices to optimise your warehouse efficiency.
03 9561 1449