When deciding to implement a detail-conscious system of stock tracking, every business has a minimum priority in its design.
The features of all stock-keeping must contain some version or form of the following:
Area Transfers – records created when goods are re-assigned to a different building or warehouse
Discrepancy Report – the final reference document produced that provides the comparison with the results of the previous inventory
Finished Goods Stock Take – the physical count of manufactured/assembled materials (conducted no less than once per month)
Finished Stock Return – receipt of sold items as individual quantity
In Process Stock Take – the physical count of items committed to incompletely manufactured/assembled materials (conducted no less than once per month)
Inter-Site Transfers – records created when goods are re-assigned to a different location within the same building or warehouse
Issuing – transactions that deficit the stock quantities on-hand
Item Voids – items removed from inventory due to breakage, expiration or recall
Label Reprint – once stock has been re-located its status in its new site is labeled ASAP
Pallet Summary – physical count of large-block storage containers
Raw Stock Return – receipt of sold items as individual quantity
Receipt – transactions that surplus the stock quantities on-hand
Remainders – stock that has been left over from other projects, including those stripped from sub-assemblies
Stock Take – the physical count of raw materials (conducted no less than once per month)
All comparative systems for inventory management shall consider and record accurately the above details, and maintain them in history for the system to be of any lasting value to your business.
For further details of a complete design for the management of inventory, visit www.simmssoftware.com or email sales@kcsi.ca for more information.