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This is done for each individual SKU since some products will be hot sellers and others will rarely sell. Automating this process means less manual monitoring and more timely ordering. Quality control helps you stay on top of suppliers, monitor each batch of inventory, make better decisions around future purchase orders, keep customers happy, and meet any regulatory requirements.
Inventory control makes quality control a lot easier. When you know exactly how many units you have and where each unite of inventory is located, you can react in the event of a product recall.
You can also cross-reference that your records match up to actuals. Whether you run a seasonal business or a high-growth brand , your inventory needs will change throughout the year. However, some clothing items will need to be stocked year round like jeans or t-shirts. Non-stocked items, or those that will be sold on an inconsistent basis, will require a different process of inventory control.
You may even find you should discontinue certain SKUs that are costing you a lot of money throughout the supply chain but bringing in very little revenue. For businesses that have a high SKU count and diverse product catalog, zoning can be critical to keeping your products organized and easy-to-find. How you store items, the layout of the warehouse, and the proximity of certain items will impact operations, picking lists , and productivity. Zoning helps designated spaces for specific areas, such as those requiring refrigeration, storing dangerous goods, separating out the same product by lot number or expiration date, or simply keeping SKUs that are bundled or ordered often close to one another.
Inventory control provides the ability to audit inventory in a streamlined way, so you can discover potential issues quicker or before they arise. With a well-organized space, stringent record-keeping, and inventory management software, you can regularly audit and automate stock levels for better inventory control. ShipBob is a third-party logistics 3PL company that provides integrated inventory management software in addition to a network of fulfillment centers where ecommerce brands can connect their online store s and send their inventory for ShipBob to store, pick, pack, and ship orders.
As an end-to-end fulfillment provider, ShipBob handles every step of the ecommerce fulfillment process. Request a quote from ShipBob. Inventory control is no easy task.
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Too much inventory and you lack funds to invest in other areas of the business or risk dead stock; Too little inventory and you lose potential sales, cause massive delays, and customer satisfaction levels plummet. Inventory control requires input and output from operations that lines up with demand, promotions, and finances. To be more efficient, you need to invest in the processes and tools that improve inventory control.
Kristina is the Content Marketing Manager at ShipBob, where she drives content strategy and writes various articles, case studies, and white papers to help e-commerce merchants grow their business.
What is Inventory Control?
The ShipBob Blog. What is inventory control? Inventory control vs. Keeps counts accurate Inventory control provides an accurate reflection of all units on hand. Helps you make the right inventory management decisions Inventory control is more than just tracking inventory. Eliminates write-offs Inventory control directly affects inventory accounting , which measures the changes in the value of inventory and costs of goods sold over time.
Ensures you have enough units to fulfill orders Proper inventory control aims to let you hold the least amount of inventory in your warehouse s , yet enough to keep up with demand. Real-time inventory tracking Inventory tracking refers to monitoring stock levels and knowing where individual products are stored in a warehouse. Reorder points Reorder points establish the stock level at which you need to order more inventory to prevent stockouts.
What is inventory control?
Quality control Quality control helps you stay on top of suppliers, monitor each batch of inventory, make better decisions around future purchase orders, keep customers happy, and meet any regulatory requirements. What features do you foresee you will need in the coming years as your company expands? These are the kinds of things you need to know and factor into your decision of which solution best meets your current and future needs.
You need to establish how much you can afford to pay for inventory control software. Write down the cost of each solution you investigate, including training and software expenses, and then match up those costs to the time and monetary savings you will enjoy by putting them into practice. Calculate your return on investment ROI to estimate how long it will take for the software to pay for itself and continue saving you in reduced man-hours, carrying costs, and more far into the future.
The higher the ROI, the better the value. After you have done all of this work answering these questions, the answer should become clear. Fishbowl Manufacturing and Fishbowl Warehouse are inventory solutions that track virtually any type of inventory, and they offer extensive inventory control features at a price you can actually afford. Fishbowl is an affordable inventory solution that lets you track tens of thousands of parts and products in multiple warehouses.
8 Inventory Management Techniques to Save You Money
It is the best choice for small and midsize businesses because of its seamless integration with QuickBooks and dozens of other solutions, plus its flexible feature set and enormous library of training and support resources. Sign up for a free trial today to get control of your inventory with the help of Fishbowl, the 1 QuickBooks inventory control solution! Inventory control is the process of ensuring you get the right quantities of products flowing into your warehouse.
When choosing an inventory solution, ask yourself:. Technology Ave. Search Fishbowl:. What Is Inventory Control?
Home Solutions Inventory Control. What features do I need to manage my inventory? What am I willing to pay for inventory software? When choosing an inventory solution, ask yourself: What types of parts and products you work with. What features you need in the solution.