Inventory Accuracy and Your Bottom Line
When
you look at inventory sitting on your pallet rack,
you are looking at piles of money. No inventory
comes to you for free, so it is fair to say that
inventory equals money. Therefore, inventory accuracy
is as important as balancing your bank account.
You wouldn’t want to be unaware of money
in your account; likewise, you don’t want
to be unaware of inventory sitting on your pallet
rack.
There
are many devices to assist you with inventory
accuracy and inventory
tracking, but these devices cannot do the
entire job by themselves. You also need employees
who are committed to inventory accuracy and high
expectations for inventory accuracy in your warehouse.
Here are some inventory accuracy basics to start
you on the road to success:
-
No matter what their position in the company,
let your employees know that inventory accuracy
is extremely important. Poor inventory management
will take money away from bonuses and other
perks, and your employees should know that they
have a vested interest in inventory accuracy.
- Have
an inventory accuracy team in place. Do not
rely on all of your employees to take care of
inventory accuracy as a secondary part of their
jobs. Hire a trained group of employees who
will be responsible for inventory accuracy.
- Count
all inventory regularly (more than once a year)
so that you can ensure your inventory accuracy
goals are being met and that you are not wasting
space with dead warehouse
stock.
In addition to the above advice, Ace Industrial
Equipment has many tools available to assist you
with inventory accuracy. Please call our inventory
specialists today to learn more about bar code
systems, pallet rack tags, pouches, and many more
items that can make your inventory accuracy faster
and easier.
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