portableworkforce.com/blog » Inventory Management » Inventory Turnover Rates: Increased With Stronger Warehouse Management

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Jan 12

Inventory Turnover Rates: Increased With Stronger Warehouse Management

Have you tried in vain to convince yourself that your manual inventory management practices are working and are actually helping you to increase your inventory turnover rates? Have you relied too heavily on excel spreadsheets and tables to manage the complexities of your supply chain? Most importantly, how often have these processes let you down and left you with inaccurate inventory counts? Few companies ever take the time to answer these questions, let alone even ask them. Instead of relying upon enterprise mobility hardware to better manage their warehouse, they instead rely upon antiquated and outdated processes, ones that can not possibly keep pace with the speed of their business. Stronger warehouse management starts by doing away with these outdated processes and instead relying upon real-time tracking through mobility management solutions. If your enterprise wants to increase its inventory turnover rates, then it must finally put an end to using manual processes. Those processes may have worked when you first started, but they can not be a part of any long-term supply chain solution. So, how can the right enterprise software help your company better manage its warehouse and increase your turnover rates?

In order to answer this aforementioned question, think of how often your manual processes have failed you. Think of how many times you’ve purchased too much, and been left with high inventory carrying costs. Think of how many times you’ve not purchased enough, and lost sales as a result. Manual processes aren’t live. They can’t track inventory in real-time and they can’t reconcile inventory counts accurately. They are only as good as the people who use them and their information is only accurate to the point whether these excel sheets are updated. However, mobility management solutions can streamline your entire supply chain in real-time. This not only improves how you manage that supply chain, but all its individual parts as well. It’s about creating a symbiotic relationship between your vendors, your warehouse, incoming shipments of materials and outgoing shipments of customer orders. None of this can be done accurately with manual processes. Do these manual processes cost your business money? Do they reduce the effectiveness of your supply chain? Finally, do they make it more difficult to increase your inventory turnover rates? The answer to each of these questions is a resounding yes!

The decision to improve how your company manages its warehouse is a simple one. While the process itself is involved, the decision to move forward with upgrading your manual processes with enterprise mobility solutions should be straightforward. It is not an exaggeration to state that ours is a global economy. The speed of today’s business calls for a mobility solution that increases the accuracy of inventory management. While your company is stuck using manual processes, your competition is making huge strides by reducing their transaction costs and reducing their inventory expenditures. With mobility solutions your competitors are better able to manager their supply chain. You can’t join this club until you do away with those manual approaches, and upgrade your warehouse management approach with the solutions provided through today’s enterprise mobility hardware.

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