What Are Common Inventory Problems?
Come on in and let’s talk about common inventory problems. Let us also offers Inventory solutions to them, which I’ll elaborate on a bit:
Problem #1: Old Products
Solution: Track inventory by expiration date and use a FIFO accounting method to make sure you cycle through products rather than let them go to waste.
Problem #2: Number Discrepancies
Solution: Integrate your inventory and accounting solutions so when you make changes to one it makes a corresponding change to the other.
Problem #3: Improper Log
Solution: Make it easier to enter information into your inventory records by using barcode scanners and ensuring employees have the right software training and access to do their jobs.
Problem #4: No One Knows
Solution: This solution is actually similar to the previous one. Make sure your employees have the tools and training they need to enter and retrieve information in your inventory management software.
Problem #5: Too Much Stuff
Solution: Use a powerful inventory solution to calculate lead times and set automatic reorder points for every all of your products to avoid overstock and shortages.
Problem #6: Over-SKU
Solution: Keep products organized and in the right places in your warehouse so you don’t accidentally scan the wrong SKU when attempting to reorder or pick products.