As the year-end rush begins, advanced stock control becomes more important than ever. Not only will it allow businesses better control of their assets, but it will also give decision makers a better understanding of where the business stands financially. Here are our top tips for advanced stock control:

Efficient, effective expiry management

To ensure you have enough stock without wasting expired items, the inventory flow should be smooth and seamless. The key to efficient, effective expiry management is advanced analysis and automation principles. By using specialist software, such as an ERP solution, this advanced analysis becomes straightforward and the automated rules to keep it smooth and seamless become standard.

Manage your shelf space

Effective shelf space management is about more than just the physical space needed to store your inventory, it also includes receiving, picking, put-away, pick, ship, dynamic move, physical inventory counts and quality. The key to successful shelf space management lies in logistics and planning. It can be tricky as there are lots of pieces of information to remember, but an ERP solution can help out by removing the mathematical heavy lifting.

Traceability

Knowing exactly what is where, where it came from, and the duration of its remaining shelf life is absolutely essential to effectively managing your stock. Moreover, batch traceability allows for efficient processing in recalls, expiry tracking and reduces the risk of errors.

Real-time cycle counts

Obviously it’s far less disruptive to have a rolling cycle count than to complete a physical count which is much more achievable if employees are able to access and record count data remotely. With remotely accessible count data, employees can efficiently and effectively manage expiries, shelf space and traceability.

One way of providing this remote access to the central system is through the Cloud. By making your ERP software available in the Cloud, data can be accessed from any device at any location, making inventory management quicker, easier and more effective all round. For more information, contact us TODAY