When it comes to controlling your inventory there are two issues to monitor: where it is, and who put it there. That involves two processes: inventory tracking, and inventory traceability.
Inventory tracking
Inventory tracking is based on keeping accurate records. It starts when a consignment arrives and the quantity delivered is confirmed to tally with the delivery note. From there, those items will move along a generally predetermined path until they leave the premises, possibly as component parts in goods sold.
While components are under your roof, they may move as one batch from goods inward to storage. They’ll be drawn from storage either as a batch, in groups, or in single units, and records will be amended accordingly.
Inventory traceability
Inventory traceability also first comes into play when goods are received. Traceability allows you to see who checked off and signed for the consignment, and who then moved it into storage. Once in storage, a record of who drew what and when, and what they did with it, helps to control stocks.
Say one thousand widgets were received at ABC Company. Jenny checks them in and Dave takes them to storage. Both steps record one thousand widgets. Three lots of two hundred widgets are drawn from stock by Chris and taken to the production area. Production can confirm receipt and a stock check shows four hundred still in storage.
There’s a full track and trace system in place and every component received can be accounted for.
What if something goes wrong?
Say things have happened as described above, but when stock levels are checked there are only three hundred widgets remaining. Now what do you do?
Step one is to check the figures and make sure there hasn’t been a simple recording error. With manual systems, errors are easy to make but checking can be time-consuming. Depending on the value of the stock, the exercise might not be worth doing. Supposing it is worth doing, and an error in record-keeping is ruled out, your investigation now depends on how and where the widgets are stored.
If they’re stored on racking in a warehouse you can check CCTV, if you have it. That might let you see if someone took stock and didn’t record it, although you still have to find out what happened to it next. If there’s no CCTV you can question people, but that’s about the limit of your powers. In these circumstances, you might just have to accept that you’ve lost a hundred widgets and you may never know what happened to them.
If the components are stored in an automated system, things are a lot easier.
The benefits of automated storage for inventory tracking and traceability
An automated storage system has many benefits, including inventory tracking, management, security, and accountability. Built-in software can not only show what was put into storage, when, and by whom, but also what was withdrawn, when, and by whom. It’s possible to restrict access to certain components, allowing only designated personnel to have contact with them. It makes track and trace so much easier, and shrinkage is all but eliminated.
The information recorded allows checks to be made and reports to be run with ease, and all of this can be achieved in less time and with less fuss than with a manual system.
If you want to know more about the benefits offered by automated storage and retrieval systems, get in touch. Linpic offers some of the most robust solutions on the market and can help with track and trace, and much more besides.