You're drowning in inventory record inaccuracies. How can you use technology and automation to stay afloat?

1. Implement RFID or Barcode Systems: Use RFID tags or barcode scanners to automate data entry and track inventory movements in real-time, reducing human error. 2. Integrate ERP Systems: Leverage ERP software like SAP to centralize inventory data, providing real-time visibility and accurate stock levels across locations. 3. Automate Cycle Counts: Schedule automated, regular cycle counts to continuously verify inventory accuracy without disrupting operations. 4. Use AI for Demand Forecasting: Employ AI-driven analytics to predict demand, preventing overstocking and understocking errors.

Start with barcode scanning or RFID technology to automate data capture and reduce manual errors. Implement an inventory management system (IMS) that syncs real-time data across all platforms, providing instant visibility of stock levels. Integrate AI-powered demand forecasting tools to improve ordering accuracy. Use automated cycle counting to regularly check inventory without disrupting operations. Cloud-based systems allow real-time updates, enabling alerts for discrepancies. Automation not only reduces human error but also streamlines processes, keeping your records accurate and up-to-date.

As the title implies, it is possible due to wrongly entered data or information passed on, which is the root cause of many inventory-related problems. To begin using technology and automation for this purpose, follow these steps: 1. Identifying part identification codes and storage locations. 2. Work with a fulfilment partner. 3. Establish a cycle count frequency using production rate, lead time, and warehouse capacity variables. 4. If your inventory management software is subject to inaccuracies, consider upgrading and customizing the module for your organization. 5. Use a throughput and volume variety matrix to randomize inventory checks and assess inventory flow.

Understand the process first and where the points of failure are taking place. Receiving, Put-away, Replenishment or Picking? Build stronger processes. Implement cycle counting processes on a regular basis. Make sure these consistently happen. Measure performance. Measure Pick Accuracy. Make this a focus. Ensure products are barcoded and these scan/can be verified in the ERP or Receiving and Picking processes. Look at solutions in existing WMS/ERP to add Voice/RF Scanning solutions into Receiving, Put-away, Replenishment and Pick processes. Remove opportunity for human error. Implement lead measures based on full utilisation of these functions. Make these a focus for uplift. Cycle Count and Pick Accuracy performance will show health.