For many small business owners, there is nothing more important than taking inventory control seriously. Inventory management is essential to the bottom line and ensures that every dollar invested in the business is used for productive purposes. The solution to inventory control software is relatively simple, if you understand how a supply chain works.
Inventory control is necessary to protect your business, and to ensure that everything goes as planned. It helps to track and manage inventory levels in order to determine how much of a product you have and how much work is needed to move it into your store. For smaller businesses, the use of inventory control software helps streamline management processes and gets things done faster. For larger businesses, it can increase profits and reduce costs.
Start by creating a basic Inventory Control Templates Excel Free file to gain an understanding of what inventory control involves. There are many different forms of inventory management software, and these forms all have a few common elements. A work list, in order to help keep track of inventory levels, should be included in all form inventory management systems.
Creating a Work List is similar to creating a supply chain report, as it will list all products being worked on, as well as the job duties that they have. When determining what product should be worked on first, create a work list based on how often the item needs to be worked on, and the level of product variation that it presents. The product needs to be at least semi-custom for it to have a significant effect on the manufacturing process.
The next item on the Inventory Control Templates Excel Free Work List is the type of product. Determine if the product is light weight or heavy weight and find out what the weight of the product actually is. Next, determine how many hours of labor are needed to move the product from the supplier to the end user.
Find out what material is being used to manufacture the product. If it is metal, then the product may require welding to be assembled and shipped to the customer. If the product is an item that requires heat treatment, then it is likely that it will need to be welded or painted before delivery.
The final component of the Work List is the quantity of the product. This will be used to determine how much of a certain product can be moved per day or per week. This also accounts for how many stock items the company has.
Once you create your inventory control work list, it is now time to begin formulating the actual inventory control process. Start with determining the customer determine the order, determine how many of each product are needed, figure out the amount of labor it will take to complete the order, and determine how many hours of labor that product will require to be delivered.