Fight Inventory Pain Points

We have all experienced inventory pains. The most common pain points cited by businesses include: inaccurate inventory counts that cause mishaps; delays because of inaccuracy, resulting in dissatisfied customers; costly end of the year write offs; and wasted time spent looking for lost inventory.

"There is a way around these annoying mishaps, which result in wasted money and time spent searching for lost items," said a company spokesperson. Below are three tips to consider when fighting inventory pain points:

• Inaccurate inventory counts: There is nothing worse than finding out after the fact that someone miscalculated the inventory. Not only is it necessary to start all over, but one also must figure out a way to prevent this from happening in the future. Keeping track of inventory by hand is extremely tedious and time consuming. There are inventory management machines that not only calculate accurate inventory numbers but that can also calculate precise sell by date and location on products.
• Costly end of year write offs: Find a management system that allows for easy organization of all budget expenses. This will allow for less stress at the end of the year and more time to reflect on all the positives. Business owners may not consider the value realized from an integrated accounting and inventory management system. Inventory management is about knowing exactly where and how many of an item is available. To reduce needless spending, an inventory management system may be needed.
• Time spent looking for lost inventory: There are tracking systems available that will log and keep track of every single item that has been shipped. To err is human nature, but using a management system will eliminate errors. There is an increased chance of error if businesses are using spreadsheets and keeping track of products manually. Many inventory reports include date purchased (or manufactured), sell by date, location and more. Recording all the necessary information by hand can be a challenge, inevitably resulting in over purchasing or lack of inventory. One way businesses are combating human error is to implement an inventory management system. These systems can help keep track of necessary information, like sell-by date, and automatically upload the correct information into one central database in real time. This helps companies stay on top of the amount of inventory they currently have available, in turn helping them to order/manufacture more products if needed.

Manually tacking inventory is a way of the past. Consider upgrading your business' software. Doing so will result in saved time and money, improved record keeping and easily locatable inventory.

Authored by Brian Sutter, Wasp Barcode Technologies

For more information contact:

Wasp Barcode Technologies

1400 10th Street

Plano, TX 75074

866-547-9277

sales@waspbarcode.com

www.waspbarcode.com