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Ah, inventory. The reason you get business, the reason you have a warehouse, and basically the lifeblood of your company.

 

And also one of the biggest struggles you might encounter during day-to-day operations.

 

Whatever it is you stock and however you manage it, inefficient inventory management can be one of the biggest problems a warehouse can run into. We’ve rounded up a few of the most common inventory problems, and what you can do to help prevent them:

 

Inaccurate Forecasting

The first place to start when considering how to solve inventory problems is to see how your needs are being forecasted. Inaccurate forecasting methods or faulty software can lead to under-ordered popular items, overstock of items that don’t move as fast, and more. Make sure your forecasting software is working properly, and ensure all your workers are correctly trained on its usage to prevent any sort of forecasting inaccuracy.

 

Oversells On Popular Items

An oversell occurs when you accidentally sell more of a given item than you have on hand. This generally happens when you have an inaccurate idea of how many of that item you truly have in stock. The solution is simple – make sure you always have a correct idea of your current on-hand inventory. It’s easier said than done, of course, but making sure your tracking software is correctly configured and your employees are aware of what needs to be checked is a perfect first step.

 

Not Enough Storage Space

Industrial warehouse storage is a pretty constant problem when it comes to space usage. Having too little storage space and equipment can lead to inventory mismanagement, incorrect tracking, and perhaps worst of all – lost items. If your warehouse has room to spare, buying extra shelving units and storage solutions will do much to help your work get done more effectively and make sure your items are all present and accounted for.

 

Unqualified/Untrained Staff

As busy as your staff is with day-to-day operations, training is vital in maintaining proper warehouse function and inventory levels. Make sure your workers are trained on product tracking, inventory levels, storage systems, and anything else you need to make sure your inventory tracking is accurate and correctly done at all times. If this means everyone has to take a day or two to get up to speed, you’ll quickly find it’s worth it in the end.

One Response to “Most Common Inventory Management Problems”

  1. Aldis Jagger says:

    Thanks for making such a cool post which is really very well written.

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