Keeping track of your inventory with a spreadsheet and using a small space in your house might work at first, but your business may soon outgrow your small space. By then, inventory will be harder to keep track of. So, as a small business startup owner, you should already be looking into how to accommodate business growth.
Here are some tips you can follow to simplify your inventory management needs.
Outline Existing Operation
Check your current warehousing operation to see if it still works for you. You can start by looking at your facilities and coming up with a strategic plan that can help maintain the accuracy of your warehouse function. If that doesn’t work anymore, then change it up. If the space you’re using to warehouse your products is no longer enough, then find somewhere else to store your products. Of course, buying a building to serve as your warehouse may seem excessive at this point for a small business. In this case, you may want to look into companies that offer outsourced warehousing operations.
Identify Warehouse Inventory and Storage Needs
After determining what improvements can be done with your existing warehouse operation, you are now ready to move on to looking at your inventory and stock requirements. Aside from checking how many stocks you have left, it also involves predicting and planning the amount of stock you will need and identifying where they will be stored.
Use a Warehouse Management System (WMS)
The right WMS software is vital for the success of most warehousing operations, as it serves as the bridge that links production and scheduling systems, as well as shipment planning and order fulfillment systems. A WMS software helps manage warehouse resources, such as space, equipment, labor, material flow, and tasks. Additionally, it can significantly reduce warehouse downtime by alerting warehouse workers and managers of tasks that can be done in rapid succession or even simultaneously.
Hire Outside Help
You can’t use a spreadsheet and the back of your house or office forever. So as your business grows, you need to have a contingency plan regarding your storage and inventory needs. Hire a third party if that’s what it takes to keep things organized. This will also help give you more free time to focus on other equally important things about your business.
At American Western Distribution, we can take care of all your Phoenix warehousing and distribution needs for you so that you can focus on the core competency of your business. Don’t worry. Our climate controlled, up-to-date, and state-of-the-art warehouse facility makes sure that your products are safe at all times. Contact us for more information.
