The moment of making an inventory begins weeks and even months before the physical taking of it, especially when it comes to the ending inventory of each year.
Inventory is not impulsively counting the stock of a warehouse, but a deliberate task that requires planning and order. Below you will find some basic guidelines shared by inventory management companies to achieve a good result in the counting tasks:
Discriminate your stocks. It must have specific areas for each type of inventory: raw material, products in process and finished products. Before you continue planning your count, check that each item is in the warehouse that corresponds to it.
Organize and sort your stocks by product type. For example, in a raw material warehouse of a company that produces footwear, specific areas will be determined for leather, soles, glues, braids, etc.
It should be taken into account that the storage of volatile, combustible and/or dangerous products must be carried out by qualified personnel who guarantee their adequate treatment.
At this time, you will have to carry out two activities that are of great importance: determining which products are expired, obsolete and/or damaged and verifying that the packages actually contain what they claim to contain and are not empty boxes.
Once these tasks have been carried out, the directors and/or accounting advisers of the company must be consulted about the administrative and legal treatment that will be given to these inventory losses.
Once the merchandise is organized by type of product, we must analyze each item in particular, verifying that all the same items are grouped and that there are no products scattered in other sectors.
Continuing with our shoe company and taking the leathers as an example, we will verify that all leathers of type A and color A1 are grouped.
In the same way, in the finished products warehouse it will be checked that the X33 model is all together in the same sector, organized by size.
Establish the units and the counting method. This aspect that seems so obvious sometimes has its complications or can be seen by very different optics.
The important thing is to determine a uniform and logical measurement of counting, in order to avoid that a person counts liters and another gallon, for the same product, or that a group “uses” eight hours counting an item that does not have the greatest importance.
It must be taken into account that each product must be measured in a specific way, respecting, as far as possible, the units established by the manufacturer or creating others that are appropriate for each case.
As you can see, carrying out these tasks is a programmed and conscientious task. However, the results are very satisfactory and efficient. Apply these steps and you will see how your figures are much more reliable and physical inventory management is done much faster and more organized.
The best inventory management companies in India offers the complete service of physical inventory management in warehouses, you can obtain more information without obligation by requesting a budget for Physical Inventory Taking.