Warehouse and inventory management can often feel like a nightmare. Failing to clear out those inventory cobwebs can impact your busy season. Below are some of the most common inventory management errors that may be lurking in the shadows of your warehouse.
1. Warehouse Maze – Does your warehouse resemble a Halloween corn maze filled with twists, turns and dead ends? Your warehouse layout can make or break the efficiency of your entire operation. Look at your layout and ask yourself does it maximize available space? Allow for a smooth workflow? Does it provide easy access to your most commonly rented items? And does it create a safe work environment for your staff? If you find yourself answering no to any of these questions then it is time to rethink your layout to create a more efficient warehouse.
2. Ghost Assets – Ghost assets are assets your inventory says you have that cannot be accounted for. The best way to eliminate these spooky items is to take a full inventory at the end of every year to confirm which assets you do and do not have. While this may seem like a daunting task depending on the size of your stock there are technology solutions available to help with the process. RFID is a great way to tag all of your items so you can easily keep track and do a complete warehouse inventory in hours instead of days.
3. Zombie Workers – If your warehouse is not operating efficiently your employees can fall prey to a zombie-like workflow. Consider automating some of your processes to increase productivity and reduce waste.
4. Dead Stock – Dead stock sounds scary and it is! Dead stock are assets that have not rented in the last 12 months. For whatever reason, these products just have not moved off the shelf. The best way to deal with dead stock is to eliminate it. If assets are gathering dust and just taking up valuable space in your warehouse it is time to part ways. Consider donating these items or selling them off, either way just make sure to get them out of your warehouse!
With proper planning you can tackle the terrors of inventory management and set yourself up for a thrilling busy season.