Inventory management is one of the biggest issues that can drain your company’s time and money. 43% of businesses do not track inventory, and the few that do use poor technology for cycle counting. Improper inventory management can cause massive issues that include:
Inventory errors - If you are manually cycle counting, you are more prone to mistakes. This leads to outdated cycle counts and a deficiency in quality inventory control. This can cost your company vast amounts of time and money. The cost to fix a package shipment error can range anywhere from $10-$80. Even a 1% error margin can be super expensive in the bigger picture.
Failed Audits and Missed Compliance Codes - If your inventory isn’t accurate enough, it might not meet regulations. If regulations aren’t met, your company faces the possibility of a major shutdown.
Incorrect company balance sheets - Inability to access your inventory and storage in real-time leads to late evaluations that negatively impact your company balance sheet. Incorrect counts result in incorrect stock. This can lead customers to turn to a competitor if you promised them a certain item only to find out you don’t actually have it.
Consequently, it is crucial to have advanced inventory solutions to boost your company’s storage potential. Trek Associates optimizes inventory management with Zebra’s real-time inventory data analysis and automated RFID inventory tracking. These solutions can:
Redefine inventory accuracy by significantly minimizing cycle counting time from four weeks to just a day and a half.
Reduce downtime by having the right products in the right stores at the right time with all visible through your mobile device. Easily find where everything is in the warehouse any time.
Enhance order processes with transformed real-time trend data that predicts when products will be most needed, so you can stay ahead of demands and never run out of stock.
Further improve return on investment by tracking assets and resources throughout the workplace to prevent breakdowns and bottlenecks.
Enhance your inventory management potential with RFID inventory tracking solutions. Contact Trek Associates today to find the best answer to all your inventory needs.