Disorganized inventory can lead to lost sales and clients. It can lead to your own business losing money if you’re storing products that aren’t performing well. Here’s how you can take control of your inventory.
Barcoding
Every warehouse needs to know their most popular stocked items. That’s why bar codes are a life saver. Bar codes reduce receiving errors, offer real-time data, and keep very accurate records. If your warehouse is still using hand-written or manually keyed purchase reports, it’s time to make the upgrade.
Liquidation
When your inventory goes through an overall, you’ll soon realize how much unnecessary stock you have. Liquidating unwanted stock is always recommended, even if you do not get back what you originally paid for. Your warehouse can:
- Transfer the excess
- Return material to the vendor
- Reduce prices
- Offer sales incentives
- Inform other suppliers of surplus stock
You’re going to be tempted to keep unneeded stock because you can’t get a good price for it. Don’t. It’s only getting in the way of finding your popular stock.
Organization
The layout of your warehouse is just as valuable as your products. A warehouse with a functional design saves you time, and therefore, money. Take grocery and retail stores for example. They’re organized by aisles and/or departments. You can walk into almost any store and know exactly where the item you need is and what items will be nearby.
Document Returns
Every time you accept a return, document why the product came back. Keep track of trends. This work may seem tedious, but it saves your business much more time in the future when you’re able to eliminate the reason for these returns.
American Western Distribution is recognized as one of the leaders in warehousing, distribution, and interior installation. Contact us to learn how we can help your business today.
