Batch records are documents that detail the journey of raw materials becoming batches of finished goods. Even though the term is mostly associated with process manufacturing, especially the pharma industry, every company that manufactures its products in batches or series can benefit from keeping batch records. Here is how to do it.
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Even with an ERP/MRP system in place, it might be difficult to keep tabs on inventory requirements, production plans, and other important areas of the business. This is where low stock alerts and other manufacturing and inventory notifications come to your aid.
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Determining which products to continue selling and which ones to discontinue is a challenge most businesses need to face at some point. Because there are many aspects to consider before cutting your product catalog, the process of SKU rationalization is here to help you find a balance between too many and too few SKUs.
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Lean warehouse management is a methodology that takes the lean principles widely used in manufacturing environments and applies them to warehousing. Putting an emphasis on removing waste, lean warehouse management helps companies optimize and continuously improve their inventory processes.
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A stocktake is the act of counting and recording the quantities of goods in stock to compare the results with available inventory data and find discrepancies. It is a crucial part of any business that holds inventory and that is why the process of performing a stocktake needs to be rigorously organized.
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Inventory costs make up a substantial part of any manufacturing or distributing company’s total expenses. To ensure the good financial health of your business, it is necessary to know how to make sense of these expenses and how to balance them.
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Cycle inventory is the stock that is used to respond to regular sales and demand forecasts, as opposed to the safety stock used when there are fluctuations in demand or supply. Properly managing cycle stock is therefore a crucial part of any well-functioning business.
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The bullwhip effect is a supply chain phenomenon related to sudden changes in demand signals, when a slight movement in demand can cause large swings throughout the supply chain. To avoid a destructive “whip crack” at the end, companies need to be prepared to mitigate the effect.
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Inventory tracking means monitoring stock movements to increase visibility in the company’s supply chain. This added transparency helps businesses improve their ordering and overall inventory management practices, ensure traceability, and make sure that goods reach the production floor and the customer at the right time.
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Dead stock consists of inventory items that your business cannot use according to their original purpose. There are many different types of dead stock and various ways to either eliminate it or avoid it in the first place.
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The simple, one-dimensional barcode has proven a reliable tool in helping to organize inventories for decades. Thanks to key advantages, however, QR codes are becoming the new industry standard in inventory tracking.
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Implementing a barcode inventory system is one of the best ways of increasing the efficiency of your stock management process. Affordable and easy to implement, barcodes can dramatically save time, reduce worker overhead, and eliminate data-entry errors for both manufacturing and distribution businesses. In this post, we take a look at barcode systems and how […]
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