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5 Easy Tips for Managing Stock in Warehouses

5 Easy Tips for Managing Stock in Warehouses

Managing stock in warehouses is the biggest challenge for companies with many branches that don't use warehouse stock applications. Why is that? It isn't easy to control the goods in different units or warehouses, especially if you don't have only one branch.

The importance of skills in managing warehouses is also significant if you run a retail business with many items with items up to thousands. 

A warehouse is part of the company's logistics system that serves to store products and provide information about the status of goods. 

Therefore, Warehouse Management becomes crucial. Warehouse Management can be defined as a system for managing the warehousing and distribution of goods. 

The goal is that the stored goods remain in good condition when distributed to customers or stockholders at the right time and quantity.

The following are some ways to manage stock in the warehouse:

1. Separate Old Stock with New Stock

This method is essential when you manage stock in the warehouse. Before the item enters the warehouse, you must separate the old product from the new product. 

Move the old stock product to the front and the new product to the back.

Why is it important? 

Separating stocks will make it easier for you to see the value of old stock products that have already been sold and have not been sold.

2. Use the FIFO (First In, First Out) System

FIFO is a method of inventory management. FIFO is an acronym for First In First Out. That is, the goods that enter first should go out first. Companies engaged in food and medicine usually use this method.

FIFO codes are straightforward to execute when you also use product identifiers. By looking at the identification date, it will be known which produced goods early and which interests will expire immediately, so must sell them directly.

3. Do Checks Before Storing Items

5 Easy Tips for Managing Stock in Warehouses

The next step is to make sure that you always check items before putting them on the shelf. Can do this check before giving the code to find out whether or not there are items recorded in the stockpile.

This check can also help determine which items have defects, manufacturing errors, and other errors before deciding to keep them. Especially for defective items, you can collect them in another place. Don't also forget to give a sign or a small note regarding the description of the defect.

4. Monitoring Inventory Level

Excessive inventory and piling up in the warehouse can expire before being sent. Still, it must also avoid shortages or even out-of-stock. Why? You must always keep your inventory level at optimal numbers.

Why? Because it can disappoint customers and certainly hamper the company's revenue, especially in the long run, 

The inventory level is the minimum stock level for each item. The stock is used as a benchmark for replenishment. Continuously monitor your inventory level to avoid the above problems.

5. Routine Stock Taking

The fifth way is to do a regular stocktaking of every item in stock. Stocktaking is a way to check the goods and inventory in the warehouse physically. 

You can do a stock take, either once a week or once a month. Adjusts the result of stocktaking to the inventory records and the records of the number of items that came out.

6. Keeping Safe Your Warehouse

Keeping a safe environment is essential to maintaining peace of mind. In addition to maintaining stock security, you must also ensure employee safety. 

Instead of hiring someone at a low cost, you should choose a warehousing professional who can maintain the warehouse and ensure your warehouse is operating correctly.

4. Training for Staff

Because business processes are constantly changing from time to time, employees must have up-to-date knowledge.

You can do regular training or cross-training so that your employees have the skills to handle more than one job in the warehouse.

5. Use the Right Stock Software

The warehousing system is undoubtedly not only run by humans but also by computers. A wide selection of software can be used to handle materials and assist warehouse management. 

Many software providers usually provide free trials of their products. Don't forget to take the time to try out which software is most suitable for your business.

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