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Do³±czy³: 06 Mar 2024
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 Wys³any: Sro Mar 06, 2024 05:56 Temat postu: Balance in stock management |
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Balance in stock management is essential now that the steps to reopen stores are beginning in many places. These areas that are open to the public have returned to regular or higher demand, and some have had their busiest months as customers stock up on items that were previously unavailable. The following Slimstock Knowledge article discusses some best practices for balancing stock management and limited shelf life, now that many businesses are in the reopening phase after the unexpected pandemic. Identify problems We still have companies facing shortages in one location, however they may have a closed store with a full warehouse a few towns away. Companies also face the problem of limited shelf space in addition to inventory imbalance. Food and beverage producers and distributors are checking delivery times and expiration dates as chocolates and craft beer sit in warehouses, approaching their expiration dates.
Balance in stock management: Inventory in multiple locations If you are out of stock in one market and overstock in another, shifting stock between locations is often the cheapest option rather than buying more. However, this may seem simple to do, but it is important to understand the demand of each market and thus use stocks efficiently. Important factors to consider when seeking balance in stock management is how each market Japan Telegram Number Data has been affected by the disruption in terms of job losses and customer demographics, distance from warehouse and available supply. Your next priority is to adjust the baseline demand and safety stock strategy for the locations that are open. Previous demand for the item or similar items is a good starting point for reference demand. For safety stock, include factors such as seasonality and supplier production capacity.
If data is available, other factors may include customer demand from previous shortages/stockouts and consumer behavior in similar markets that have opened before yours (e.g. Western Europe). Reopening when stock has a limited useful life If you are working with a product that has a limited shelf life, your first concern is expiration dates. How much product do you have and when does it expire? Once your due dates have been identified, you need to make a plan for them. As already described in this article, it is generally more economical to shift stock between locations. However, shipping time for products with a limited shelf life must be taken into account. If you have a product that will expire in 60 days, but it typically takes 2 weeks to move it between locations, will the expected turnover rate justify the shipping cost? Another challenge when it comes to finding balance in stock management is that product that was ordered weeks or months ago but is only now arriving, or the product that has been shipped after a longer than usual customs hold.
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