Every warehouse owner works tirelessly to help their warehouse operations be more efficient which increases productivity. These 9 practices will surely help in guiding you in your operations.
1. Computerize Your Data
Make use of automated systems such as RFID & Barcode Tags to avoid human errors. This will also help in sorting things while also being easily accessible for later use. 2. Update Inventory Information
Track all warehouse activities from receiving to shipping of products. This can only be possible by keeping data updated accordingly. This will benefit the owner if something goes wrong with transportation.
3. Data Syncronization Keep the warehouse manager and supplier on the same page to improve the inventory visibility for warehouse operations. Updates between both parties must be consistant and secure.
4. Keep in mind the Safety Measures Store safety products at approachable places as accidents can happen anywhere and anytime leading to huge loss of life and money. By using this practice one can save valuable time if an accident occurs.
5. Do Cycle Counts
Perform quality check of inventory while inventory balances are being checked. The purpose of cycle counting is to have an accurate reflection of inventory throughout the year. If, and if your brand is manually counting, chances are it’s not accurate if you’re counting annually. By counting inventory in smaller chunks, your brand is able to more easily keep track of numbers more accurately, so your retail reporting and inventory accounting information remain accurate by year’s end.
6. Check Outdated Inventory
Track the date of manufacturing and expiry of all products, especially for the products that have dust settled over time. This will helps limiting the amount of inventory that is not fit for use and also helps you make use of it before its expiry date.
7. Do an ABC Analysis
ABC analysis is an inventory management technique that determines the value of inventory items based on their importance to the business. ABC ranks items on demand, cost and risk data, and inventory mangers group items into classes based on those criteria. This helps business leaders understand which products or services are most critical to the financial success of their organization.
8. Utilize the Space
Use all the space present in the warehouse in a proper way. Don't limit yourself to horizontal space only. Use vertical space (floor to ceiling) using shelves. This will help you maximize your available space which results in having more space for other inventory.
9. Train Your Staff
Make the staff well-versed with the processes of warehouse management provide them with apt training to polish their skills and internal coordination. If all your staff is up to date with the processes it will increase productivity as well as safety.