If your business relies on the sale of goods, then you have to make sure that those goods are kept in proper order. Inventory loss can be one of the leading causes of lost profits when it’s left to go out of control. As such, here, we’re going to look at what you can and should be doing to take better care of your inventory and why it’s so important.
Don’t let things slip between the cracks
It’s very easy, especially in larger warehouses, for items to go missing without a trace. It doesn’t mean that it’s stolen, sometimes it literally simply can’t be found. However, with an inventory management system, you can make sure that the location of every piece of stock is recorded and updated every time that it’s moved. It can’t entirely prevent items from getting lost but it can make it a much less common occurrence.
Ensure your storage units are robust
You should always consider what kind of weight your storage units and their shelves are dealing with. If you overload them, you could run the very real risk of the shelves collapsing. Not only can this damage your stock but it can also be a major safety risk for your team, as well. It might be worth working with a warehouse storage supplier to make sure that you’re meeting the needs of your storage spaces effectively.
Air quality is important, too
You need to ensure that your inventory space is healthy enough for the items contained within. Having refrigerated spaces is clearly important for perishable goods, but many products might also suffer in areas where moisture and humidity are problems, to which end industrial HVAC can play an important role. Making sure it doesn’t get too cool, too hot, or too moist all comes down to your utilities, so make sure you’re installing the appropriate kind.
Be mindful of theft
You might not want to think of your own team as untrustworthy, but theft is a major cause of loss in retail businesses and it can happen anywhere, including in the warehouse. Keep your business secure and stop your goods from disappearing by investing in security measures such as CCTV. You can also ensure that the storeroom is secure and requires people to sign in, allowing you to always identify who has access to which items.
Keep it a safe place to work
Doing what you can to reduce accidents and injuries in the workplace is part of your duty as a business owner. However, accidents in the storeroom can very often lead to damage to your inventory, which should serve as double the incentive to make sure that anyone operating a vehicle does so with the appropriate training and safety precautions. Floor labeling, safety signage, and making sure that commonly trafficked walkways are clear can also help prevent those costly accidents
Letting inventory loss continue to go unchecked is an easy way to throw money down the drain. Follow the tips above and invest in proper inventory management to avoid just that from happening.
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