While people often simply refer to inventory management tools as an umbrella term, there are actually a number of different types of these tools, each of which serves it own unique purpose. If you are in the process of revamping your inventory to be more compliant with government inventory regulations, then it is important that you understand how these different tools can help your warehouse function.
This guide is designed to show you how all three different tools work, and they way they help protect your company from accidental or intentional product loss or violations of any regulations.
- Inventory Tracking Software
Of all three, this is perhaps the most important for many businesses. This software allows you to keep an up to date record, not only of how many products you have total, but also how much of each item you have, where they are located, and when it is time to purchase a resupply. For small organizations, this could be as simple as a spreadsheet, but for many, the added benefit of being able to have your inventory with a user-friendly interface can greatly increase accuracy and productivity.
Hardware is a wide ranging group. It can include your computers and terminals as well as more specialized equipment like identified tags or bar code printers, scanners, and specialized point of sales devices. It is important that despite whatever level of technology you have, each piece is in sync with the other. For example, say you print out a barcode for a bottle of wine you are storing. You should then be able to scan that code and have it automatically update to your software. And then, should someone ring that bottle of wine in on a point of sale device, you should automatically get a notification to remove it from its location and spreadsheet.
- Audit related software
There are a number of different types of audit software, including audit automation software and audit management software. The purpose of these systems, however, is to ensure that your employees and your process remain sound. Additionally, many types of audit software can help you integrate your own accounting, updating any losses that might be accounted for.
Even if you are not worried about you readiness for government audit, warehouse and inventory management tools are very important. In fact, it can help reduce your operating expenses by as much a 35%.
If you have any questions about how to implement these tools into your warehouse, don’t hesitate to contact our experts today.