Technology makes warehouse inventory management more effective

Inventory management technology saves companies money and makes managing inventory more efficient. (Touch Screen & Button Keypad) (Photo credit: Wikipedia)

Knowing what products you have in stock and what products have been sold and to where are two obvious functions that manufacturers have needed for centuries. Gone are the days where each item had to be counted by hand and chronicled in a paper spreadsheet.

The original methods for warehouse inventory management were time-consuming and made it easier to make a mistake. Worse, the paper records and human-centric inventory methods made it easier to steal.

We at On Time Logistics already talked about how it can save your company time and money to outsource your warehouse inventory management, but the savings are only there if the warehouse management is efficient. The inventory management technology we use allows both us and our clients to see with a few keystrokes on their computer just exactly how many (and which) items are located in our warehouses (we have warehouse space in Northwest Arkansas, Tulsa and Little Rock), and what items have been shipped out.

Here’s just a few benefits of using inventory management technology:

Repeat customers-Have you ever ordered an item and received notice that it was out of stock? How likely were you to order from that company again? By knowing that your inventory is getting low, you can make sure you never have to send that email to your customers.

Inventory turnover-Usually turnover has a negative connotation, but with inventory it’s a good thing. It’s important to know which products are being stored, especially for those items that are either perishable or timely. If the warehouse manager or your employees lose track of that information, some items might become useless because too many items were not distributed.

Employee efficiency– You can empower your employees to help you manage inventory either through their knowledge of what’s in your outsourced warehouse, or if you choose to manage the inventory yourself. Training employees to use barcode scanners and inventory management software makes them more accurate and their time more efficiently spent.

Improved cash flow/profits-By knowing what products are in inventory and what needs to be ordered, companies are better able to manage their cash flow and in turn have higher profits because they are able to more rapidly meet customer needs.

Limits abuse-Simply put, electronically tracked inventory is harder to mismanage and harder to steal because it would too easily noticed.

How do you manage your inventory? Are you in need a climate-controlled warehouse? Give us at On Time Logistics a call and we can talk about how our inventory management software