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Inventory control is one of the fundamental tasks of business, especially when it comes to franchising. Read carefully! Having different warehouses and points of sale can make this task more complex. However, when you have the necessary knowledge and technological support, you can manage this area in a practical and effective way.
For this reason, below we will mention some aspects of inventory control that you should always take into account.
Loss prevention
If there is no organization and monitoring, inventory can go from being one of the main assets of a business to generating its financial instability.
And it is that when there is a lack of control, ant losses and thefts occur that put at risk the feasibility of the company and even its operation.
As there are differences between the actual existence of the inventory and what is created, tasks and procedures begin to hinder. How to avoid these setbacks? A very good way to do this is to contact the best inventory management companies. They will allow you to track the entry and movement of merchandise, as well as the different tasks that must be completed to manage it successfully.
With their help, you can detect when there is an irregularity in the inventory or central warehouse of the franchise, as well as in each branch. This guarantees flexibility in managerial and administrative management and, at the same time, greater operational control.
Physical organization and space optimization
Today, warehouses must be physically and digitally organized. In addition to having quality technological solutions, you have to worry about optimizing the space and distributing the merchandise in the correct way.
You should always consider how to make the area occupied by the stock as small as possible, without breaking harmony and organization.
In addition, inventory control also requires care and hygiene, since the risk of the merchandise coming into contact with polluting agents or substances that can damage it must be avoided.
Integration between sales and inventories
This is an elementary point, which often makes the difference between companies that have good control and those that operate in a disorganized way. It is essential that each sale or order generates an immediate response in the inventory, so that the existence of the different products is updated.
In addition, the sales team and, also, the management can evaluate through the inventory the profitability of the business and the demand for their products.
Strategic analysis of suppliers
Inventory control is not only influenced by internal factors. For example, suppliers can positively or negatively impact the way you manage your warehouses. For this reason, you have to do a strategic analysis of your business allies and determine which ones deliver the merchandise to you on time and in the established periods.
On the other hand, suppliers that do not comply with these conditions will hinder internal control and, therefore, they are not convenient for your franchise company.
If you follow all these points with the help of inventory management companies, you will definitely see significant improvements in the short term, since organization and planning generate immediate effects.
Later, the advantages of consulting inventory management companies will also be reflected in other areas of the business, such as billing, collections and marketing flows.