In property investment, the most important factor is: location, location, and location.
In Warehouse Inventory Control, to me, the most important function is: accuracy, accuracy, and accuracy.
It is true that without accurate inventory information, you cannot plan your inventory properly such as:-
- What to buy?
- When to buy?
- How many to buy?… and so on.
The question is, how am I going to keep an accurate inventory in my stores or warehouses? Here are some suggestions for your reference:-
- Record all inventory movements — receiving (IN), delivery (OUT), transfer, disposal, adjustments etc.
- Do Cycle Counting (stock take) frequently and randomly (by another group of staffs other than local storekeeper).
- Maintain good housekeeping at the stores or warehouses — 5S approach is the best.
- If possible, please invest in technologies such as inventory software, barcoding system and racking infrastructure to minimize operation errors.
- And finally, train your operation staffs to be more discipline.