Stock turnover or how to avoid losses

Écrit par Patrick Julien

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9 April 2020

When managing perishable inventory or with expiry, inventory turnover becomes a key issue to the profitability of your storage operations.

Several inventory management methods tend to prevent losses associated with inventory turnover
(FIFO, for example), but this is only one method, it is in the application of the method that problems arise. More so, in a multi-location environment, the oldest stock can be found on multiple pallets at various locations of your warehouse.

Let’s think further, if your software managed your receivings by batches with their specific expiration dates. If it managed, at the receiving again, every location where the stock is moved to, pallet by pallet. Furthermore, if your warehouse employees had a mobile device that told them each time which pallets should be moved to the picking location…

That would be nice already… But let’s go on a little bit more…

If your stock managers had a table that automatically refreshes (Widget) on their personalized menu that listed the products that will expire in 2-3-6 months (weeks or days) depending on your needs in order to be able to act before having to react (specific promotion, approaches to the supplier).

If these same employees could access an interface listing products for which the quantities in hand are too large for future sales of the next 2- 3 – 6 months…

Finally, if your procurement staff had a purchasing order interface that would suggest quantities to order to cover for future sales while taking into account the fluctuation in sales of the last few months of the listed products, so as to order less of products with declining sales and more of those whose sales are increasing.

What if I told you that it exists… and that this software does even more!!

Contact us about Evolution- Distribution

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