In logic, the words or definitions of inventory management strategies are widely used. Since this allows us to maintain order in our business or even in any area of our lives; since it is not a surprise that it is a tool that allows us to know in detail certain important points to maintain order.
Another favorable point is that inventory management also helps us maintain a more effective economy. And why? Well, as we mentioned earlier, inventory management allows us to be one step ahead with respect to customer demand, allowing increased liquidity.
3 inventory management strategies
Before starting with the 3 inventory management methods. It is important to emphasize that each management is different for the type of company or business to which it is going to be implemented; What is clear is that every business must seek the best way to implement management and eliminate future human errors.
Relationship management
Sure, you’ve heard a bit about relationship management by now, but you may not have understood what it has to do with inventory management. Relationship management goes beyond good treatment, in reality, its background is a bit more complex.
In this space we are going to define it as good communication, since having an indulgent or, better said, excellent communication with our suppliers; It will allow us to act in favor of our business and to obtain a more favorable inventory.
Another important point is that, if we have little space in our warehouse, suppliers can give us a hand with certain details of interest or also help us with a product that is the most sold or vice versa.
Regular audit
Today many, if not all, businesses have software that allows them to maintain a digital inventory. But it is true that we must always be cautious. And this is achieved through a regular audit of our warehouse; that is why we will mention some of these.
Physical inventory: This inventory method is the oldest, and its handling is simple. It is enough to count the products that we have in our warehouse and compare them with the data that our software gives us.
Counting cycle: This technique is used in many micros and macros companies, in order not to leave the inventory to the last minute. Now, what is it about? In reality, this method is not complicated at all, the difference is that a specific product is counted at any time, regardless of whether it is monthly or weekly or daily.
The important thing is to have the numbers for the final count that takes place at the end of the year.
Anticipate with ABC
As its name implies, it is a way in which we can be aware of products with higher, medium and low mobility. For this, it is important to know the products we handle.