While a strong stock - both deep and wide - can certainly be a competitive advantage, are smart business people Pay attention to the amount of equity they are willing to undertake this critical asset to limit. No company, not IBM, not Wal-Mart, Home Depot does not, and certainly not in your company enough capital to ignore the stock.
Manage inventory and receivables for approximately 80% of total assets in most companies and 100% of assets,always on both every company with much needed capital to expand and treat.
In this article I would like to share with you several inventory management ideas that will minimize to optimize inventory turns and out-of-stocks are:
• Set clear goals to make the buyer that the buyer can understand how to measure their work. The inventory turnover by category, gross margin and out-of stock (or occurrence of backorders) are good places to start keeping score.
•Conducting regular cycle counts - at least once a month. Make a census count calendar, which sets the day of the month on certain products. Adjust quantities in your computer system are detected as deviations, this method will prevent major surprises at the end of the year. Implementation cycle rates in the schedule should be a prerequisite for anyone in employment for this critical task.
• Discuss with your software vendor, the effects on the population counts in the processing of inventorySku receipts that negative quantities are shown. Avoid asking your software provider for advice on procedures for compounding problems.
• Make sure your inventory receiver is not only those who currently have a new shipment comes happened. Sages you receive the accountability to one or more persons designated range.
Then train.
Then check what you expect.
Assume that the suppliers ship never too much. It's not that you do not trust your supplier,it's just good business practice, the actual quantities on the amount that you receive orders to compare.
• Adopt a policy that demands that the driver of incoming delivery vehicles to sell its shipping documents in the office or on the guard gate, before the court or hall. Assign get staff to the appointment as the receiving document.
When you entrust the implementation of this idea, your forms supplier "blackout" the quantity in thereceive a copy of the "PO", said staff will receive no attempt to take over the accuracy.
• Instruct the buyer to the yard and warehouse on a daily basis to walk first-hand insight into inventory levels, product quality and the way specific sku's stacked and stored to win.
• Educate employees with stock management, has contributed to the dollars and cents impact inventory accuracy, on the profitability of the company.
• Clearly label stacks, racks and shelves to reduce theErrors, mainly by seasonal or part-time employees.
• Document all inventory procedures.
• Each month, you have someone who is attentive to detail, carefully review all computerized inventory reports.
• spot check the accuracy of the annual physical inventory counts.
• review periodically, what do you expect from staff for all asset-related tasks assigned.
Inventory control requires periodic review to ensure that staff at the front will not developbad habits. Take the above list of recommended inventory process and spot checks how well your employees are following the rules that have found you. If you have some aspects of inventory management in your organization who are not documented, have, have a responsible employee who is good in the design of systems to create the documentation.
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