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Inventory Management: You’re Doing It Right

It’s nice to be validated for performing a task well. Inventory management can be a thankless job, so get ready to pat yourself on the back. If you already do the following things, you’ll know that you’re doing something right in the way you manage your inventory. If that’s not the case, then you’ll know how to get on the right path.

You have an inventory management system in place

If you have an inventory management system in place, you know where everything goes and how to find items when the time comes to fulfill orders. Bonus points if you use software and barcode scanners to automate as many processes as possible.

Your employees know how to use the system

A solid inventory management system is wasted if people don’t know how to use it. If your employees have well-defined job roles and they make use of all of the available tools, you’re in good shape. You can even assign user permissions if you have software that includes that functionality.

Your system has an audit trail

If a mistake was made somewhere along the line when information was being added to your inventory file, can you easily track it down to the source? An audit trail lets you see which users made changes at specific times. That way, you know if someone needs additional training or other actions to take when things don’t go as planned.

You have stock alerts on your items

Why should you always have to do all of the work to find out when item quantities are getting low? Let them come to you and tell you when they need to be reordered and in what quantities. This is only possible if you use an inventory management solution.

You’ve integrated multiple business solutions together

Have you already found a way to eliminate double data entry? If so, that is wonderful because you don’t have to spend extra time on tasks, and you also don’t have to wonder whether or not your inventory and accounting records will match up. Shippers, merchant services, and e-commerce platforms can all connect with your inventory management solution to keep them in sync.

You perform regular cycle counts

Even the best inventory management system’s records will need to be tweaked from time to time to keep them up to date. You are wise to perform regular cycle counts to make sure the number of goods on the shelves in your warehouse is consistent with what you have on the books.

Conclusion

This is hardly an exhaustive list of all of the inventory management tasks you are doing well. You know you’re doing something right when you see positive results. There’s always room for improvement, but it’s nice to be recognized for your efforts. Try Boxstorm today to help you put the above points into action. If you’re already doing many or all of these things, Boxstorm can still help you do them even better and at a low price.

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