A comprehensive inventory tracking system is an essential tool for any warehouse that wants to operate efficiently. An effective system will let you track your inventory across its entire supply chain, from the moment it arrives in your warehouse to when it gets sent to your customers. Accurate and easily accessible data regarding your supply chain will aid your warehouse business in seeing increased profits and productivity. In addition, an effective system will help you avoid errors, provide you with a variety of inventory alerts, help you optimize warehouse space, and more.
At eoStar, we have customizable software that can be tailored to suit your needs. Our inventory tracking systems let you monitor your supply chain and ensure your operation is productive. Read on for a variety of elements that are essential to effective inventory tracking software, and what you should look for if you are considering replacing or upgrading your system.
With the constant changes in American economics, there will be continuous change in warehouse processes. As your warehouse grows to satisfy demand, you will want to stay on top of tracking your inventory as it fluctuates. Failure or errors that arise during tracking can lead to compounded issues that surface later on. This will require backtracking and trying to fix all of the issues.
Instead of worrying about problems that arise from increased growth, you should consider implementing software that will scale with your business. This does not just apply to inventory tracking; scalability is applicable to all aspects of your warehouse business.
Having inventory tracking that will scale with your business also means you can avoid having to replace or upgrade software multiple times in the future. Instead of searching for new products, you can transition into the increased productivity and responsibilities that come with increased growth.
We recognize that your employees must have quick access to easily understandable data. Our inventory tracking system utilizes an intuitive system that will be easy to train new employees on. This will allow less time to be spent training or trying to decipher information. Our user-friendly dashboards will improve productivity and reduce the likelihood of human error or misunderstandings.
Trends and Metrics
The inherent nature of any warehouse business is to get goods from one location to another. However, in order to do this effectively in our modern economy, analyzing trends and metrics of your inventory from retrieval to delivery is essential.
Inventory tracking will allow you to understand the degrees of demand for certain products and when that demand happens during the year. For example, there may be products that sell more frequently during the cold season, and your inventory tracking system can help prepare you for that. As the year progresses, your trends and metrics dashboard can prepare reports that will advise you to increase your supply of certain products that you have historically shipped a lot of during the winter season.
A good inventory tracking system will also contain an alert system. These alerts can advise you on low or depleted inventory levels. As a result of being better prepared for low inventory levels, you can replenish your supply faster. This will reduce the lag time between getting products and then getting them to your customers. This benefit can also keep you apprised of future inventory levels so that you may be better prepared; as a result, you will not have to rely on an alarm system and instead can have the correct supply beforehand.
Inventory forecasting will also nicely complement the trends, metrics, and alarm systems present in an inventory tracking system. Like trends, inventory forecasting is analysis that can be performed on trending data and metrics. This takes the data and turns it into an actionable insight.
Our inventory tracking system has Electronic Data Interchange (EDI) integration to help your systems operate more efficiently. EDI integration allows users to exchange data electronically instead of through traditional means such as paper. While it is expected that you will likely use paper in some aspects of your business, it is still more efficient to use EDI in locations where it can be integrated.
EDI integration will reduce the likelihood of errors, increase the speed of communication, and expedite processing.
When it comes to getting your orders out the warehouse doors, an effective inventory tracking system can help ensure your orders are accurate. When your inventory tracking software has EDI integration and an easy-to-understand dashboard, drivers will have an easier time doing their job. With these additional elements, drivers will have clearer instructions on their destination so they may acquire their orders. Clearer instructions lead to decreased likelihood of human error.
Additionally, the workers in the warehouse will have a better understanding of what inventory they need to prepare for shipment. This will create a more effective synergy between preparing inventory for shipping and getting the inventory onto the fleet vehicles for transportation.
Inventory tracking also allows you to keep an eye on inventory when it is on its way to your warehouse. This can sync with your supplier’s data and allow you to be better prepared. As a result, warehouse workers can better prepare inventory space. This allotted time to prepare for inventory space can allow for your supplier’s transportation to more quickly and efficiently dock at your warehouse, deliver their goods, and be on their way. This reduces time spent trying to find space for new inventory, and also reduces congestion at the warehouse.
At eoStar, we are happy to work with you to develop a customized inventory tracking system that will suit your needs. The warehouse industry is constantly developing and overcoming challenges, and eoStar stands ready to work alongside you. Our years of experience mean we have helped both small and large warehouse enterprises be set up for future success. Contact us today for a consultation.