Mountain View Industrial Park

Practicing Good Inventory Management

Part of running a successful company is practicing good inventory management at the warehouse. In fact, because so much of a company’s success hinges on whether it can process and ship orders quickly, it can be said that warehouse inventory management is one of the most important things a company needs to master.

In this guide, you’ll learn how to organize inventory, minimize errors and improve efficiency. The result will ultimately be a better functioning warehouse and a greater return on your investment in warehouse space.

Organizing Your Warehouse and Warehouse Inventory

When you’re dealing with a wide variety of inventory, it’s easy to become disorganized. Containers get misplaced, products get damaged and inventory seems to disappear into thin air. Keeping things organized, accounted for and in their proper places helps keep minimize problems.

With this in mind, some easy ways to organize your warehouse inventory include:

  • Storing each SKU on a different shelf instead of mixing items together
  • Minimizing unauthorized access to the warehouse
  • Labeling your inventory and warehouse locations
  • Documenting shipments using digital photos
  • Investing in technology to help improve communications and inventory tracking

Know the Ins and Outs of Your Inventory

Knowing where your inventory is located is another key to successful inventory management because it provides the insight needed to access the most commonly sold items quickly. For example, when setting up your warehouse floor plan, store the most in-demand inventory closest to the packaging and shipping zone to save time when processing orders.

Taking advantage of Advanced Shipping Notifications (ASN) is another good way to stay on top of inventory because you’ll always know details about the timing, contents and packaging of upcoming deliveries. This gives you time to plan and prepare for an upcoming shipment, so there’s warehouse space available upon arrival. 

Technology and Automation

There’s a lot of new technology and automation resources available for warehouses, but they’re not all ideal for every type of facility or business. Researching equipment and services is important to determine what will serve your company best.

From dimensioning systems to calculate package dimensions and determine DIM weight to IoT (Internet of Things) technologies, such as hands-free wearables to autonomous robotics, there are many options to make your warehouse more efficient, productive and easier to manage. Selecting the right scanners, software, apps and other related equipment will improve every aspect of your warehouse—and help you save money along the way.

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Learn how Prologis can assist with your inventory and global supply chain management.

   

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