What are the most common inventory management challenges in perishable goods logistics?

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Perishable goods logistics is the process of transporting and storing products that have a limited shelf life, such as food, flowers, pharmaceuticals, and cosmetics. It involves careful planning, coordination, and execution to ensure the quality, safety, and profitability of these items. However, perishable goods logistics also faces many inventory management challenges that can affect the performance and reputation of import/export operations. In this article, we will discuss some of the most common inventory management challenges in perishable goods logistics and how to overcome them.

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Ibrahim Hariri, EMBA

Medical Devices Supply Chain & Procurement Management
Unathi Norobolo

Logistics and Supply chain
Fernando PENTEADO, CPSM?

Supply Chain & Logistics CSCO VP Director | International Speaker | Digital Transformation | Import & Export | Global…

1 Demand forecasting

One of the main challenges in perishable goods logistics is predicting the demand for these products, which can vary significantly depending on factors such as seasonality, consumer preferences, market trends, and external events. Demand forecasting is crucial for optimizing inventory levels, reducing waste, and meeting customer expectations. However, it is also difficult and complex, as it requires accurate and timely data, sophisticated analytical tools, and constant monitoring and adjustment. To improve demand forecasting, import/export operations should use a combination of historical data, current market conditions, and advanced algorithms to generate realistic and flexible demand scenarios.

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Ibrahim Hariri, EMBA

Medical Devices Supply Chain & Procurement Management
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Shipping & Logistics, especially for regulated items like food and medicine. Applying active refrigeration for goods will vastly increase freight cost, while using passive cooling requires quick clearance of goods before they get defected. Another challenge is the availability of proper storage facilities in ports to assure proper storage till goods reach final destination.

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Unathi Norobolo

Logistics and Supply chain
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Transportation of chilled or frozen products can be quite challenging. Often times cold chain gets broken during transportation process especially when using a 3rd party where you have limited visibility such as getting temperature alerts when there’s a breakdown and as a result goods gets spoilt

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Fernando PENTEADO, CPSM?

Supply Chain & Logistics CSCO VP Director | International Speaker | Digital Transformation | Import & Export | Global Markets | Sustainable Omnichannel Last-Mile | Fractional Manager & Interim
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Managing demand fluctuations effectively is one of the most crucial challenges for supply chain managers. It is essential to avoid stock losses and shortages in cold chain operations. Even though sales forecasting systems are not entirely accurate, there are strategies that can significantly improve demand management, such as collaborative forecast management. The deployment of this collaboration mode, where stakeholders can jointly contribute to demand and forecasting, inventory, and production planning, allows for more accurate and coordinated decision-making, improving communication and alignment across the supply chain.

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Eduardo Brand?o

Coordenador de Logística e PCP na Ubyfol Agroquímica
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I strongly believe that the factor that best favors would be the requirement for an accurate demand forecast. Creating goals and having active supply leadership with the sales team greatly favors the increase and turnover of stock.

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Jhony Ortiz

Imports Coordinator and Compliance Assistant at Jomara Seafood Inc
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The most challenging issue when working with frozen foods is delivering the products in a timely matter. Once the products leave the storage facility, many factors can affect your schedule and if your products don't get to the destination on time, it throws off the schedule at the receiving facility and increases the overhead costs for your company and your customers.

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2 Inventory control

Another challenge in perishable goods logistics is maintaining optimal inventory control, which means having the right amount of products in the right place at the right time. Inventory control is essential for minimizing inventory costs, maximizing inventory turnover, and ensuring customer satisfaction. However, it is also challenging, as it involves balancing supply and demand, managing multiple inventory locations, and tracking inventory movements and conditions. To improve inventory control, import/export operations should use a robust inventory management system that can integrate with other systems, such as order management, warehouse management, and transportation management, to provide real-time visibility and control over inventory.

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Fernando PENTEADO, CPSM?

Supply Chain & Logistics CSCO VP Director | International Speaker | Digital Transformation | Import & Export | Global Markets | Sustainable Omnichannel Last-Mile | Fractional Manager & Interim
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The best way to deliver value on Inventory management is through People, Processes and Technology all together. Through my professional experience, I have successfully executed various market-driven transformation projects. I was able to achieve this with the help of some of the best inventory management solutions available in the market, such as Slimstock, Gains, Tools Group, and Anaplan. These projects involved the integration of sales projections, procurement requests, and production schedules, with the ultimate goal of improving customer satisfaction and driving sustainable revenue growth.

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Gledson Sales

Supervisor de Logistica
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é fundamental entender que a necessidade de ter uma ferramenta isso me refiro a tecnologia, ferramentas como WMS e entre outros para se ter um estoque ideal, uma equipe engajada bem treinada com a mentalidade, pra executar suas tarefas. Já fiz alguns projetos visando otimizar erros no estoque aonde geraria um desgaste futuro.

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3 Inventory shrinkage

A third challenge in perishable goods logistics is preventing and reducing inventory shrinkage, which is the loss or damage of products due to theft, spoilage, expiration, or mishandling. Inventory shrinkage can have a significant impact on the profitability and reputation of import/export operations, as it reduces inventory availability, increases inventory costs, and lowers customer satisfaction. To prevent and reduce inventory shrinkage, import/export operations should implement strict security measures, such as locks, cameras, and alarms, to deter theft, use proper packaging, handling, and storage methods to prevent spoilage and damage, and monitor inventory expiration dates and quality indicators to avoid selling expired or defective products.

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Fernando PENTEADO, CPSM?

Supply Chain & Logistics CSCO VP Director | International Speaker | Digital Transformation | Import & Export | Global Markets | Sustainable Omnichannel Last-Mile | Fractional Manager & Interim
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Shrinkage represents a significant challenge for cold chain operations, particularly at transshipment points and during consignee transfers. Furthermore, the precarious infrastructure of ports and airports in some regions requires intensive clockwork monitoring. In my previous experiences, I was exposed to a range of control methodologies, from straightforward solutions such as data loggers to more complex approaches such as employing IoT in order to limit temperature fluctuations. Essential to the success of these methodologies is adherence to clear SOPs with logistics operators, sufficient training of the operational staff, and the use of packaged solutions where possible in order to mitigate the effects of transportation on the cargo.

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4 Inventory valuation

A fourth challenge in perishable goods logistics is determining the appropriate inventory valuation method, which is the way of assigning a monetary value to the products in inventory. Inventory valuation is important for accounting purposes, as it affects the calculation of cost of goods sold, gross profit, and net income. However, it is also complicated, as it depends on the inventory costing method, such as first-in first-out (FIFO), last-in first-out (LIFO), or weighted average cost (WAC), and the inventory accounting method, such as perpetual or periodic. To choose the best inventory valuation method, import/export operations should consider the nature of their products, the market conditions, and the tax implications.

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5 Inventory compliance

A fifth challenge in perishable goods logistics is complying with the various rules and regulations that apply to the import, export, transport, and storage of these products. Inventory compliance is essential for avoiding legal penalties, fines, and sanctions, as well as ensuring the safety and quality of the products. However, it is also complex, as it involves following the requirements of different authorities, such as customs, health, environmental, and trade agencies, in different countries and regions. To ensure inventory compliance, import/export operations should be aware of the relevant laws and standards, obtain the necessary permits and certificates, and conduct regular audits and inspections.

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6 Inventory optimization

A sixth challenge in perishable goods logistics is achieving inventory optimization, which is the process of finding the optimal balance between inventory costs and service levels. Inventory optimization is the ultimate goal of inventory management, as it enables import/export operations to maximize their profitability and competitiveness. However, it is also difficult, as it requires a holistic and dynamic approach that considers the interdependencies and trade-offs between various inventory decisions and factors. To achieve inventory optimization, import/export operations should use a combination of strategic, tactical, and operational techniques, such as inventory segmentation, inventory replenishment, and inventory performance measurement, to align their inventory policies and practices with their business objectives and customer needs.

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Laila Salih

Top Import/Export Operations Voice | shipping Execution & Planning | Logistics Management | Agro. Commodities Business Development | innovation | Customer Service Experience | General Supply Chain Management
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I think the most challenging topic in perishable logistic sector is how we could maintain the right temperature all the way up to delivery to the final consumer.. This is a serious issue for us as PICs working in the front line of operation service starting from how we prepare products up to delivery to the final destination walking through all circumstances/challenges in between.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the most common inventory management challenges in perishable goods logistics?

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2

3

4

5

6

7

1 Demand forecasting

2 Inventory control

3 Inventory shrinkage

4 Inventory valuation

5 Inventory compliance

6 Inventory optimization

7 Here’s what else to consider

Import/Export Operations

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What are the most common inventory management challenges in perishable goods logistics?

1

2

3

4

5

6

7

1 Demand forecasting

2 Inventory control

3 Inventory shrinkage

4 Inventory valuation

5 Inventory compliance

6 Inventory optimization

7 Here’s what else to consider

Import/Export Operations

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