Warehouse and inventory management is an integral part of your overall procurement operations. Without a good warehouse and inventory management, you can’t run your procurement and supply chain like a well-oiled machine. In this post, we will discuss some basics you need to get right for good warehouse and inventory management.
Make the Most of Given Square Footage
You need to use every inch of your warehouse to offset its operational costs. When you start using a warehouse, ensure you have the authority to renovate in line with your requirements. Get warehouse experts on board that can guide you on how to turn it into a space-efficient facility for your procurement operations.
Use SKU Labeling
Even if you spearhead a small enterprise, you should properly label your stock. Stock Keeping Unit (SKU) is an industry standard for labeling inventory. You should also use SKU for your stored items. It will make it identifying products before moving and shipping them easier. Using SKUs will also help you make the most of procurement management systems.
Implement Bin Location Mapping
If you don’t want your moving and loading team to get lost in the warehouse, you should divide it through bin location mapping. This method creates a predefined coordinated system to locate items within the storage room promptly. By implementing bin location mapping, your staff doesn’t have to sift throw all shelves and rows to locate and pick or drop an item. All they need is bin location coordinate to precisely reach the given location in the warehouse.
Cross-docking is an effective logistical process where items coming from vendors are provided to the retail or customer chain directly. This results in marginal or even no handling and storage time. By implementing cross-docking where possible, you can reduce the load on the warehouse and the relevant staffers.
Educate Your Staff Accordingly
Your warehouse and inventory staff should be trained for the labeling, bin coordination, and other logistical tools and technologies you use. The lack of training can render all the measures useless discussed in this post.
To supplement your good warehouse and inventory management with impeccable sourcing practices, you should power your procurement division with SimplyPurchasing. This robust procurement management software works on many fronts to improve organizational performance. It improves the procurement process and helps you get a better hold of sourcing, vendor, and contract management.