Inventory tracking systems for product cataloging
Inventory control has gone far beyond the simple pen-and-paper ticking these days. In fact, a business owner or warehouse manager might wonder how anyone managed to conduct inventory control without computer software. Paperless inventory control management systems are all but universal now, and except for maybe the smallest of enterprises, there is no turning back. This is a good thing, as modern inventory control is generally much more accurate – and the more accurate your system, the smaller your shrink percentage, which is good news for any business.
What does inventory tracking do?
An effective inventory tracking system will provide immediate access to product information, pricing and especially last-minute changes. With the concept of just-in-time shipment and delivery continuing to grow, there is no time and no room for errors in inventory control management. Everyone in the operation needs to be on the same page.
Inventory tracking begins as an item – say, for example, a cherry wood kitchen table – is still being manufactured. This business storage tracking system continues as the item is packed into a carton, shipped to a warehouse, and forwarded to the store or to the individual mail-order buyer. If a failure in the inventory control system produces an oak wood chair instead of that cherry wood kitchen table, the retailer, not to mention the customer, certainly won't be happy. Thus, proper control and counting of inventory is essential to many businesses.
The fastest and surest way to encounter trouble with inventory control is to adopt a hodge-podge inventory tracking system with various software elements. It's better to look for a single system of inventory control management which can do it all. Some inventory control technology may seem complex and sophisticated, but with the right focus you can keep things simple.
Inventory Control for Damaged Items
Another thing to consider is inventory tracking of damaged items. Your inventory control system will first need to take note of the damaged items and track whether they will be disposed, returned to the manufacturer for repair or sold at a discount. The system should also account for items that may be substituted for the damaged items, and for warehouse transfers that occur as a result.
A solid inventory control system will track all items at all price points, including items that are being sold for less. After all, inventory control is all about reducing loss, and the best way to do that is to maintain as accurate a record as possible of the products being bought and sold by your business.
Written by Michael Thompson