Post by account_disabled on Jan 21, 2024 23:38:03 GMT -5
Companies and retail stores have radically changed their approach to inventory management over the past 5-7 years. If previously everything was done manually and the company could afford write-offs, today, due to lower margins, increased competition and centralized management, it is important to carefully monitor inventory and minimize the risks of the human factor. Inventory management systems help automate these processes. They help reduce costs, rationalize warehouse space and optimize company operations. Inventory management: what is it? Inventory management is a set of methods that should solve the following problems: provide the highest possible level of customer service and at the same time minimize costs associated with storing goods; calculate the enterprise's needs for certain inventories; determine the minimum and maximum stock levels that should be stored at the enterprise; control existing inventory - track their location, quantity, expiration date, etc.; develop an efficient replenishment method. To solve these issues, you need, in particular, to have high-quality software that provides effective inventory management tools. Classification of reserves Inventories are the assets of an enterprise in the form of all kinds of products, household and other goods at different stages of production and sale.
Assets are in a “frozen” state, mainly in warehouses, and are awaiting their turn to enter the production process or sale to customers. There are several classifications of inventory: depending on the type and purpose; based on logistics; by function; by placement. Classification of reserves depending on type and purpose: Raw materials are products used to manufacture a specific product or its components. Work-in-process inventory is products that have been produced but are not ready for sale (for example, unwrapped candy). Goods for mai B2B Email List ntenance, repair and operation - these supplies are used by the enterprise to promptly repair broken equipment or use them in the production of goods (for example, molds for making candy). Classification of inventories taking into account logistics : Inventory - products intended for production (raw materials). Inventories are finished products for sale, stored by the manufacturer, intermediary, or in store warehouses. Classification of inventories by function : Current – production and inventory inventories necessary to ensure continuous production or sales. Reserve - material resources that are created taking into account the possibility of a sharp demand for them.
Classification of reserves by location : in stock; transit (transitional) - moving from one warehouse to another. What are the dangers of ineffective inventory management? The quantity of products in the warehouse is constantly changing, which depends on various reasons (demand, shipment/loading of goods), so without quality management and software this process is difficult to control. With only tables in hand, managers cannot objectively see the situation, so they can make erroneous decisions on replenishing supplies. Ineffective management of inventory and movement of goods leads to the following consequences: A shortage of goods in stock, which makes it impossible to sell, sends the buyer to competitors. There is an excess of products in the warehouse, which is also not good. Assets have been “frozen” for a long time, so you need to look for additional space to place products, which means additional costs and restrictions on new purchases. If products spoil quickly, then the inability to sell them quickly will cause significant losses to the business. Theft, loss - unmarked goods are easy to lose because their location cannot be traced, which is why such assets have to be written off.
Assets are in a “frozen” state, mainly in warehouses, and are awaiting their turn to enter the production process or sale to customers. There are several classifications of inventory: depending on the type and purpose; based on logistics; by function; by placement. Classification of reserves depending on type and purpose: Raw materials are products used to manufacture a specific product or its components. Work-in-process inventory is products that have been produced but are not ready for sale (for example, unwrapped candy). Goods for mai B2B Email List ntenance, repair and operation - these supplies are used by the enterprise to promptly repair broken equipment or use them in the production of goods (for example, molds for making candy). Classification of inventories taking into account logistics : Inventory - products intended for production (raw materials). Inventories are finished products for sale, stored by the manufacturer, intermediary, or in store warehouses. Classification of inventories by function : Current – production and inventory inventories necessary to ensure continuous production or sales. Reserve - material resources that are created taking into account the possibility of a sharp demand for them.
Classification of reserves by location : in stock; transit (transitional) - moving from one warehouse to another. What are the dangers of ineffective inventory management? The quantity of products in the warehouse is constantly changing, which depends on various reasons (demand, shipment/loading of goods), so without quality management and software this process is difficult to control. With only tables in hand, managers cannot objectively see the situation, so they can make erroneous decisions on replenishing supplies. Ineffective management of inventory and movement of goods leads to the following consequences: A shortage of goods in stock, which makes it impossible to sell, sends the buyer to competitors. There is an excess of products in the warehouse, which is also not good. Assets have been “frozen” for a long time, so you need to look for additional space to place products, which means additional costs and restrictions on new purchases. If products spoil quickly, then the inability to sell them quickly will cause significant losses to the business. Theft, loss - unmarked goods are easy to lose because their location cannot be traced, which is why such assets have to be written off.