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How can you manage inventory for products with short shelf lives?

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Managing inventory for products with short shelf lives can be a challenge for logistics managers. Products that expire quickly, such as food, beverages, cosmetics, or pharmaceuticals, require careful planning and execution to avoid waste, spoilage, and customer dissatisfaction. In this article, you will learn some tips and strategies to optimize your inventory management for perishable products.

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Sergey Fomin

Chief Executive Officer at N Systems ?? Challenging ourselves to create the most sophisticated and cutting-edge…
Mohammad Nahidul Islam

Knowledge Partner @VCARE academy| Managing Partner @The Lean Six Sigma Company| Ex Deputy General Manager @ Evercare…

1 Know your demand patterns

The first step to manage inventory for products with short shelf lives is to understand your demand patterns. You need to know how much and when your customers buy your products, and how seasonal, promotional, or external factors affect your sales. You can use historical data, forecasting tools, and market research to estimate your demand and adjust your inventory levels accordingly. You should also monitor your demand trends regularly and update your forecasts as needed.

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2 Use FIFO and FEFO principles

The second step to manage inventory for products with short shelf lives is to use FIFO and FEFO principles. FIFO stands for first-in, first-out, and it means that you should sell or use the products that you received first before the ones that you received later. FEFO stands for first-expired, first-out, and it means that you should sell or use the products that have the earliest expiration date before the ones that have a later expiration date. These principles help you reduce the risk of spoilage and ensure that your customers receive fresh and quality products.

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Gladis Barahona

Ingeniero AgroIndustrial
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Al aplicar FIFO, aseguras que los productos más antiguos se utilicen primero, mientras que FEFO se centra en dar prioridad a aquellos que están más cerca de su fecha de vencimiento. Estos principios no solo son estrategias eficaces para reducir el riesgo de deterioro, sino que también garantizan que los clientes reciban productos frescos y de calidad. Este enfoque no solo es beneficioso para la gestión del inventario, sino que también contribuye a la satisfacción del cliente al ofrecer productos que cumplen con estándares óptimos.

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3 Implement inventory rotation and quality control

The third step to manage inventory for products with short shelf lives is to implement inventory rotation and quality control. Inventory rotation involves moving your products from the back of the shelf or warehouse to the front, so that they are more visible and accessible to your customers or staff. Quality control involves checking your products regularly for any signs of damage, deterioration, or contamination, and removing any defective or expired items from your inventory. These practices help you maintain your inventory accuracy and prevent potential health and safety issues.

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4 Optimize your storage and transportation conditions

The fourth step to manage inventory for products with short shelf lives is to optimize your storage and transportation conditions. You need to ensure that your products are stored and transported in the appropriate temperature, humidity, light, and ventilation levels, according to their specific requirements. You also need to protect your products from physical shocks, pests, or theft during storage and transportation. You can use sensors, labels, or tracking devices to monitor and control your storage and transportation conditions and alert you of any deviations or anomalies.

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5 Collaborate with your suppliers and customers

The fifth step to manage inventory for products with short shelf lives is to collaborate with your suppliers and customers. You need to communicate and coordinate with your suppliers and customers to align your inventory plans and expectations, and to share relevant information and feedback. You can use technology, such as cloud-based platforms, EDI, or RFID, to facilitate your information exchange and integration. You can also negotiate with your suppliers and customers to reduce your order lead times, batch sizes, or minimum order quantities, and to increase your delivery frequency, flexibility, or reliability.

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6 Adopt lean and agile inventory management techniques

The sixth step to manage inventory for products with short shelf lives is to adopt lean and agile inventory management techniques. Lean inventory management aims to eliminate waste and inefficiency in your inventory processes, such as overstocking, understocking, or obsolescence. Agile inventory management aims to enhance your responsiveness and adaptability to changing customer needs and market conditions, such as demand fluctuations, product innovations, or disruptions. You can use techniques such as just-in-time, kanban, or vendor-managed inventory to achieve lean and agile inventory management outcomes.

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Mohammad Nahidul Islam

Knowledge Partner @VCARE academy| Managing Partner @The Lean Six Sigma Company| Ex Deputy General Manager @ Evercare Group, Ex General Manager - Banglalink
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To pinpoint the inefficiency at production floor, cost per minute counts is indicative for addressing the variance and thereby act on that. Similarly, the lean philosophy emerged to minimize the inventory movement, holding and obsolescence. Combining with lean, agile inventory management helps to address the time to market and thereby fit the customers choice. AI and predictive analytics plays key role to achieve the positive KPI for inventory despite collaboration with suppliers and risk mitigating measures for seasonal pricing trend, exchange rate risk, and probable change in custom duty and tax regime also need to be in place for inventory management strategy. Lastly, cost of financing and

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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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Sergey Fomin

Chief Executive Officer at N Systems ?? Challenging ourselves to create the most sophisticated and cutting-edge technology
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In my opinion, while those steps are crucial, embracing advanced tech, fostering innovation within teams, prioritizing sustainability, adhering to regulations, and preparing for unforeseen disruptions are equally vital. Flexibility and forward-thinking are key in managing perishable inventory effectively. From my experience, beyond these steps, embracing technology like AI-powered predictive analytics has revolutionized how we manage short-shelf-life inventory. These tools forecast demand dynamically, minimizing waste and ensuring timely restocking.

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How can you manage inventory for products with short shelf lives?

1

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3

4

5

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1 Know your demand patterns

2 Use FIFO and FEFO principles

3 Implement inventory rotation and quality control

4 Optimize your storage and transportation conditions

5 Collaborate with your suppliers and customers

6 Adopt lean and agile inventory management techniques

7 Here’s what else to consider

Logistics Management

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How can you manage inventory for products with short shelf lives?

1

2

3

4

5

6

7

1 Know your demand patterns

2 Use FIFO and FEFO principles

3 Implement inventory rotation and quality control

4 Optimize your storage and transportation conditions

5 Collaborate with your suppliers and customers

6 Adopt lean and agile inventory management techniques

7 Here’s what else to consider

Logistics Management

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