Warehouse Inventory Template
If you are looking for a straightforward and hassle-free tool that can help you track products stored in your warehouse, you can never go wrong with a warehouse inventory template.
Since most warehouses have rows of shelves with various products, a warehouse inventory template is needed to ensure items brought in and out of the warehouse are all accounted for. A warehouse inventory template is also ideal if you want to keep everything inside your warehouse organized and easier to locate.
Benefits of Using a Warehouse Inventory Template
Real-time inventory of data
A warehouse inventory template can give you a clear insight into the stock you have at any given moment. This helps sales and fulfillment to always meet orders on time. It will also provide you with information on items that move quickly, items that tend to move together, and things that have been sitting on the shelves for far too long.
Overhead costs are kept to a minimum
Besides helping you know when to grow with demand, a warehouse inventory template can also help your business minimize overhead costs. For instance, if you have an accurate record of all the stocks you have in your warehouse, you won’t need to use tools to go around to look for a specific item.
Often this translates to less wear-and-tear of your tools, fewer replacement costs, and fewer maintenance needs. Undeniably, the more accurate your warehouse inventory is, the more cost-effective it is for you to run your business.
Decrease in manual tasks and paperwork
With a warehouse inventory template, you will be able to reduce paperwork significantly. Tracking metrics and audits are also way easier once you go digital. Also, since there is no paperwork involved, there is less room for human error.
Enhanced morale and productivity
When you can manage your warehouse inventory effectively, planning the workforce activity also becomes straightforward. A warehouse inventory template can also give productivity a massive boost as employees won’t have to spend countless hours looking for misplaced items.
Since it is easier for them to track where things are, any possible issues affecting their productivity are kept to a minimum. This helps them to be more efficient at work. The ease a warehouse inventory template provides can also help reduce stress as they are always on top in terms of managing the inventory.
Warehouse Inventory Management Best Practices
Reduce touch points
Keeping the physical touch points to a minimum is an effective way of removing fulfillment process steps that are unnecessary. Generally, unnecessary touch points that are removed will not only minimize any potential wear-and-tear, it can also speed up the process.
Ensure popular products are easy to find
A warehouse inventory template can help you quickly determine the most popular products, those that sell slow, and everything else in between. In line with this, it would be a great idea to make sure the most popular products are easy to get to.
While this might seem like a given, many arrange their inventory based on the vendor, which is not very efficient. Also, ensure high volume items are situated near the packing stations so you will be able to save time when filling orders.
Always track your warehouse KPIs
Your inventory and fulfillment KPIs should provide a clear snapshot of how your warehouse processes affect your operations as a whole. It is also crucial that you monitor the KPIs on a routine basis (weekly, monthly, quarterly, or annually) based on the business volume and size.
Don’t hesitate to reorganize your floor plan
With a helpful tool like the warehouse inventory template, it will be easier to determine if you need to change or reorganize the floor plan to manage the inventory better. In line with this, it would be best to identify the fastest and heaviest moving inventory and situate them at the end of the pick path.
This strategy can help ensure items won’t be crushed, and they can be moved faster. Sales volumes can change from one season to another, so don’t shy away from rotating items or changing your floor plan to save time and effort.DOWNLOAD