1. Clear out inventory garbage – Process your inventory correctly, consistently, with no exceptions
2. Regulate your inventory counts – Perform physical inventory, cycle counts on a regular basis and produce accurate numbers3. Evaluate unused inventory – Evaluate obsolete, low turnover inventory regularly, not yearly
4. Know your business’ trends – Keep inventory labeled to control it between physical inventories
5. Research your vendor’s competition – Pick up those annoying sales calls occasionally so you know what else is out there
6. Automate as much as possible – You have inventory issues if job costing becomes a full-time job
7. Record your inventory flow – As consumed or shipped, it needs to be recorded
8. Listen to your business with ERP – Manufacturers using ERP correctly are faster, smarter, and more profitable
9. Correct employee mistakes immediately – Address inventory mistakes early to reduce risk of losing money, inventory, and production
10. Always ask questions – Don’t guess how to do it, reach out to customer service for the best success
Learn more from Global Shop Solutions’ https://www.globalshopsolutions.com.
Explore the August 2021 Issue
Check out more from this issue and find your next story to read.
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- Join our editors for a look at the manufacturing industry in 2025
- Surface Roughness, Texture, and Tribology Short Course
- There’s still time to register for our January 22 additive manufacturing webinar!
