Warehouse inventory tracking & stock take
Simplify Inventory Tracking and Accuracy in Warehouses
Achieve up to 99% inventory accuracy in locating & identifying warehouse inventory management, which allows you to be a leading provider in the supply chain logistics space. In normal conditions, a large workforce is needed to track, record, and identify anomalies in stock checks regularly, which is done daily, weekly monthly, and quarterly basis, and would depend on the needs of the end customer. Our inventory tracking solutions reduced the need to have a dedicated workforce for inventory count activities using partially automated systems, for areas covering up to 200,000 sq meters and 100,000 pallets which would contain, cartons, drums, and other objects. Implementing FiFo becomes easier using warehouse inventory management software
Trucks, trailers, shipment cargo – theft, short shipment and misplacement, and unbilled usage costs transport logistics & freight forwarding organizations worldwide billions of dollars. Indoor positioning solutions for warehouse inventory tracking accuracy. Freight logistics industries can help reduce theft and misuse of expensive cargo & equipment in a transport logistics & supply chain order fulfillment environment
Warehouse Inventory Tracking : Improve Accuracy Up to 99%
Implement a robust warehouse inventory tracking solution that can track inventory levels in real-time with an inventory accuracy of up to 99%, automate data entry, ease inventory counting, stock take and generate accurate reports. This system will integrate with other warehouse systems like barcode scanners, point-of-sale systems, and order management systems.
Barcode and BLE Technology: Use barcodes or BLE (Bluetooth Low Energy) tags to label each product and location in the warehouse. Barcode scanners or BLE tags can quickly and accurately update inventory levels as items move in and out or within designated zones of the warehouse. This reduces human intervention, and manual error and increases efficiency to to reduce the cost of warehouse management
Why Is Inventory Accuracy Important? inventory accuracy challenges
Regular Cycle Counts: Conduct regular cycle counts to verify the accuracy of inventory levels. A cycle count involves counting a small portion of the inventory frequently, rotating through different products and locations over time. By comparing the cycle count results with the system’s recorded inventory, you can identify discrepancies and take corrective actions promptly. The use of a panic button helps in eliminating wastage through breakage and spillage.
Standard Operating Procedures (SOPs): Establish clear SOPs for receiving, picking, packing, and shipping processes. Train warehouse staff on these procedures to ensure consistent and accurate inventory tracking practices. Regularly review and update SOPs to reflect any changes in the workflow or product handling.
Warehouse inventory tracking solutions and how to improve inventory accuracy
How to Improve Inventory Accuracy. Cargo theft worldwide remains a severe issue, primarily related to high-value warehouse inventory management. One piece of the good news of late is that theft levels in Europe have declined in recent years. But that changed in 2013, according to a new report from Freightwatch, a provider of cargo security services that monitors events worldwide. Thefts in Europe were up more than 60% last year, the company says, and much of that is due to the activities of organized cargo theft gangs. In some areas of Europe, violent hijackings are still common, something rarely seen in the US. Our warehouse management & inventory tracking solutions for supply chain logistics and fleet management with indoor positioning can help your business save millions in reduced pilferage, damages, and misplacement of cargo.
Inventory Accuracy FAQs
- Implement warehouse inventory tracking solutions for accuracy of up to 99%, improve inventory management best practices
- Reporting of supply chain fleet management at depots and warehouses using indoor tracking
- Monitoring of the environment within the truck with real-time tracking
- Tracking high-value shipments in warehouse management
- Time spent at each location, inventory trackers
- Automated inventory tracker & RTLS in logistics management
- Reduce warehouse inventory management-based calculations
- Warehouse inventory management software free integration API tools
- Improve safety in warehouses with lone worker tracking solutions.
- Cold chain monitoring and tracking dashboard with alerts and notifications.
- Intruder detection alerts, notifications on the movement of inventory items
- Forklift tracking to enhance operations efficiency and safety.
Warehouse inventory management & inventory accuracy
According to the National Insurance Crime Bureau (NICB) and National Equipment Register (NER), the annual estimates of the cost of equipment theft vary between $300 million and $1 billion annually — with most estimates panning out around $400 million. And every month, nearly 1,000 pieces of commercial equipment are reported stolen to the National Crime Information Center (NCIC). With the average value of a stolen piece of equipment estimated to be $22,300, according to the NER and NICB’s 2011 Heavy Equipment Theft Report, the costs add up quickly for fleets. Implementing digital twin warehouse inventory tracking accuracy is a matter of priority.
Warehousing inventory tracking & theft statistics
(15 September 2014 – Brussels, Belgium): The pan-European medicines verification system that EFPIA, the European Federation of Pharmaceutical Industries and Associations, is currently implementing with all supply chain stakeholders in Europe, will end the resale of stolen and counterfeit drugs in the legitimate supply chain. Remote monitoring in warehouses can help reduce theft.
Tips for Maintaining Inventory Accuracy, save time and money
Last week the Italian Medicines Agency, AIFA, reported on the latest results of its ongoing investigation into stolen medicines in Italian hospitals. According to a 2014 report from Transcrime (Joint Research Centre on Transnational Crime, Milan University), between 2006 and 2013, one hospital out of ten in Italy registered thefts of pharmaceuticals.
Contact us to know more about smart warehouse inventory tracking, warehouse monitoring solutions, warehouse cold chain monitoring and tracking, CMMS software, and warehouse inventory accuracy monitoring solutions.
