While there are several aspects to managing your organisation, running out of inventory gets pretty annoying. According to recent statistics, one-third of all businesses miss the mark on their deliveries due to inadequate inventory. That’s why keeping track of such supplies is essential. Here are the top five practices that can assist with managing your office inventory.
What Is Inventory Management?
Inventory management is part of supply chain management that aims always to have good products in the appropriate amount to supply to the customers. When done efficiently, the business reduces the costs of carrying excess inventory while maximising sales.
That’s why keeping track of office inventory and alerting the relevant staff for reorganising is essential. The following section will cover more on how you can do it efficiently.
5 Best Practices for Office Inventory Management
A few proven practices can add benefits to your office inventory management. Here are our five best picks that can apply to most scenarios.
Keep Your Warehouse Organized
Your warehouse inventory may be the lifeline of your business. If you don’t store or ship the products efficiently, all the following steps remain meaningless. Reliable inventory management software can help you do that. For instance, a cloud storage can register the items with adequate barcodes or QR code scanners.
In addition, you need a setup that matches the density of supplies on a weekly basis. That way, your employees know where to stock the required parcels and clear the visitor management system when required.
Implement Quality Control of Your Office Inventory
A single second of carelessness can halt the entire operation for hours. That’s why it’s necessary to implement quality control in the entire facility. In real-time, you can use an asset tracking system that tells you the status of all items within the inventory. It can let you know whether specific slots are available for storage or if there are errors with access control.
Keep a Modicum of Overstock Handy
Regardless of the scale of supply, there is always no harm in keeping a few extras. Sure, you need some extra space, but it can prevent a backlog of items should things get busier. In addition, you can always extend the overstock to a friendly business without hurting your bottom line.
Maintain Good Relationships With Your Office Inventory Suppliers
Whether you’re dropshipping or managing entire shipments, the relationship with your suppliers can make or break your business. That’s why it’s critical to relay the necessary information back to them. That includes the precise order specifications and the feedback from the end customers.
Adopt or Maximise the Use of Technology
Anything as complicated as supply chain logistics can get simplistic with adequate digital systems. You can use office inventory management software to mark all the relevant kits with unique IDs and trace them with a central database. Moreover, any security breaches or unauthorised use are quickly flagged for investigation without human intervention.
However, installing and maintaining the correct software can still be challenging without expert help. That is where Qbasis can help you out. We can provide solutions that suit your business model while remaining within budget.
Human civilisation has solved plenty of problems thanks to technology. It’s why we find amenities such as smartphones and cars so essential to our lifestyles. The same can go well with office inventory management. With the increasing number of digital devices, it might prob