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to harness the
information efficiently.
In order to better your work and progress further you can
conduct a survey by asking supply chain executives to name
the five most important area for improvement in operations
support systems. The outcome of
your survey will reflect better inventory planning as one of
the target areas. You must pay special heed to establish an
effective way to maintain inventory data integrity or
setting up higher productivity and capacity utilization.
Lack of efficient inventory data integrity can lead to large
amount of non-productive labor, underutilized distribution
center capacity and diminished customer service levels due
to incomplete or late orders.
From past few years distributors were looking forward for a
device that can help them control and manage their largest
asset, inventory. As a result several computer software
companies have developed comprehensive inventory management
modules and systems. These fresh packages enable the
distributor to effectively manage his warehouse stock.
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Tough the software technique is a beneficial aid yet it
cannot provide solutions to inventory management problems.
In order for the inventory management system to live upto
its potential and perform its best, make sure that you
follow quite a few basic and extremely significant ways of
good inventory management.
To begin with, ensure that your company is protected against
theft. There should be no pilferage problem at your
place. While ordering, order only the amount of
non-stock or special order items that your
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customer has
approved of. If you wish to add an inventory, you must
get a purchase commitment from your customer. Make sure
that you assign and use bin sites. |
Establishment and
usage of proper bin sites make order picking a hassle
free job in your warehouse. Don't ever forget to make an
entry of the material leaving your warehouse. Try to get
rid of the no charge/no paperwork material swaps. You
should charge the product samples to a salesperson
account until they are either returned to stock or
charged to the customer.
Effective inventory management also requires paper work
(picking documents to be filled by the end of the day, entry
of every single stock receipt in computer etc.) that is upto
the mark, determination of the most beneficial replenishment
strategy for each item in each warehouse, setting up some
lucrative offers and awards for the buyers, specifying
guidelines for setting the reorder method and setting up of
an on-going dead stock and excess inventory control program. |
