How to get rid of inventory management mistakes once and for all

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Inventory management mistakes not only frustrate you and your employees, they can lead up to costly and time-intensive delays. If mistakes like these have been a thorn in your side for too long now, try these steps to get rid of it once and for all.

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Inventory management top mistakes
There are a number of mistakes that you may experience from time to time. Common and frustrating inventory management mistakes include: 

  • Cash management (poor cash flow)
  • Inventory management (too much or too little of inventory)
  • No warehouse management software
  • Warehouse management software that staff don't know how to use
  • Poorly organised or messy warehouse

Ways to improve inventory management 
There are many different strategies that you can use to improve your inventory management. The biggest thing that you can do by far to improve your inventory management is to use an inventory management system. When you use a system (and train your employees on how to use it so that everyone uses it day in and day out), then you will know at a glance how much of every different item you have. 

The next thing you should do is set reorder points, otherwise know as maximum and minimum inventory points for a given item. This way, you will know that when your most popular pair of hiking boots gets down to having a stock of 10, you need to reorder. 

Finally, you should spend the time organising the inventory on the warehouse so that top-selling items are located in one place, preferably close to the shipping dock. This way, your staff do not have to trek all the way across the warehouse multiple times a day to fill these orders. At the same time, you can clean cluttered areas so that their organisation is more transparent. 

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