Best Practices – Inventory Management

CheckMate Manufacturing Suite

Picking the Right Inventory Management Software for your Small to Medium-sized Business Often smaller to mid-sized businesses try to use the inventory software that comes with their accounting system to manage their warehouse. Most accounting systems aren’t set up to handle the details required for optimum inventory management, including tracking of lots or serial numbers, [...]

Best Practices – Inventory Management – The Purchasing Function

PO

  Your purchasing processes directly affect your inventory and your company’s cash flow.  It’s a fine line between having the inventory you need to produce a product or complete a customer order and having too much inventory. Among the consequences of too little inventory are: Delayed shipments therefore slower cash flow. Unhappy customers and more [...]

Best Practices – Inventory Management – Counting Your Inventory

Warehouse

  Knowing what you have in your warehouse is the main function of inventory management.  Having an effective method of managing a count of your current inventory on hand will assure that your records are accurate.   Count Inventory Periodic Inventory Count: A periodic inventory count is one where the entire inventory is counted at [...]

Best Practices – Inventory Management – Your Process

Inventory flowchart

  Define Your Inventory Management Process You know your business better than anyone.  Now is the time to evaluate the process with which you receive, record, count, use and ship your inventory.  The most profitable companies statistically have an effective inventory management system and you want to be on that list!  One of the best [...]

Best Practices – Inventory Management – Labeling Your Warehouse

You’ve decided to take inventory management seriously, have appointed a leader for the project and have designed the best layout for your business.  What’s next? Label the Warehouse Locations: Now that you have the warehouse layout designed, you will need to put barcode labels on your locations and items.  There are options for location labeling [...]

Inventory Management for the Small to Mid-Sized Business

racking_layout

This article will begin a series on best practices in setting up and managing your inventory and your warehouse.  You don’t have to be a big business to use technology to improve your inventory management processes.  In fact, if you are a smaller company it’s that much more important that you control even minor costs.  [...]