Our top tips for effective inventory management
The more organised your warehouse or stockroom, the more productive your business. FACT. Effective inventory management will not only save you time, and increase productivity, but will have a positive effect on your overall profitability.
As a designer and manufacturer of a variety of shelving and racking solutions, effective inventory management and productive working is key to our success. Our ability to offer our products and storage solutions at trade prices is dependent on our effective and successful inventory organisation, so here are just a few of our tips to ensure you have the most effective and organised system possible...
1. Carry out an assessment of your storage area to highlight which areas you need to change. If you find that you don’t have enough shelving to store everything, or loose parts often get lost or roll to the back of shelves, it’s time to invest in some medium or heavy duty shelving (depending on the weight of products you need to store) and a range of storage solutions such as boxes, stackable containers, pick bins etc.
Remember – don’t just look at wall space, ceiling height can unlock even more space which can be utilised. We can offer totally bespoke shelving and racking solutions to ensure that every inch of your space is used to effectively manage your inventory.
2. Create a system where stock is stored by product number or product type. Whatever system you choose, ensure that it allows you to store heavier items on lower shelves so that they are safe to reach.
Keep like for like products, or those that tend to be picked together, close to each other so personnel don’t have to keep walking up and down between shelving. If you’re really serious about reducing wasted time, look at the principles of Lean Manufacturing. By analysing the flow of how your products reach your customers you may be able to make a number of small changes which could have significant impact on your bottom line.
3. Label your shelving and storage boxes clearly. It’s much easier for those who visit the stock room less often to find what they are looking for quickly.
4. An organised stockroom enables you to take inventory of your stock easily and quickly. When running low on stock, order immediately rather than waiting until you run out. Set a minimum stock level by looking at how long the lead time is from ordering to delivery. When you reach that level, re-order straight away.
5. Think safety. A badly lit area or stock left lying about on the floor can be a hazard to those who visit the stockroom. Ensure that all lights are working and are fit for purpose. Place bins around the room so that rubbish can be disposed of rather than being strewn over the floor, ready for someone to trip over. Put new stock away as soon as it is delivered – don’t leave boxes around for people to bump into. Lastly, provide steps to reach higher shelves and any other support tools to ensure your staff can access all products safely.
ShelvingDirect® make it easy for companies to organise their warehouses and stockrooms by providing high quality shelving, racking and storage solutions in a range of sizes to fit any facility. Browse our website to see our vast range of stock.