What are the best ways to increase inventory visibility in the supply chain?

Cloud-based ERPs can act as that single source of truth, giving you real-time visibility into your orders, inventory, warehouse, purchasing and financials.

Retail's future lies in effective inventory management. The shift from manual logs to AI-powered, cloud-based systems is underway, with RFID and computer vision technologies emerging. Data analytics is crucial for inventory decisions, while human intuition remains valuable. For instance, a retailer selling red apples could miss profitable trends in green apple sales, a nuance AI might overlook but human observation could catch. The upcoming decade promises a significant shift in retail inventory management.

It depends on the company size. small size company can use RFID. Bigger companies can use cloud base technology for transparency. Training of staff is also necessary on inventory, price of non confirmance

I think however the visibility of inventory will be managed through the ERP system or by software physical controll system such as RFID ,Bar arcode. The organisation's must have strong control procedure to ensure that the all the warehouae processes recorded such as inbound and outbound,picking, stock taking . in the same time the organisation's must create stock count plan to ensure that what was recorded matched with physical stock.

Software systems and barcode scanners are now standard tools for businesses/operations management. Capabilities of using those tools to align the visibility from real customer/market demand to supply chain capacities and dynamics are key to overall inventory management.

Without a doubt, since its first patent in 1952 by Joseph Woodland and Bernard Silver, the bar-code has proven to be a true innovation to help not only with the workforce agility and productivity (avoiding typing errors), but also with data speed, which influences stock visibility real-time, but it is still a technology highly dependent on the competence of those who use it. Example, the correct addressing of the item in stock still depends on the user, even if the Bar-code is correct.

In my opinion Barcode scanning plays crucial role by providing accurate information of the items. It helps in accurate data entry, real time updates on items, also reduces chances of misplacing items. In addition, fast order fulfilment by quick scanning items during pick and packing. Reduce cost of hiring labor for data entry thus enhancing cost efficiency.

Coletor de dados e crucial para opera??es, uma vez que com ele você ganha qualidade em seus processos. Coletor captura etiqueta localiza??o, código barras de produtos e consegui também dependendo do sistema utilizado coletar até a validade de seus itens. Trazendo confiabilidade e rapidez aos seu processos.

Simple, time and space! Implementation of barcode scanning not only saves time, but "real estate" in your warehouse, store front, manufacturing plants etc... ordering stock to sell becomes seamless so there's no over stock taking up space with no movement. barcode scanning can be used with cloud based software creating real time numbers which means you can provide quick and accurate inventory visibility.

I have dealt with implementation of barcode scanning and although it has many pros, there are cons present as well. One of the most common cons is discipline. Getting people to adapt and adopt to the process of using scanners can be a challenge. It may sound odd but there are always a few individuals that would rather do the manual entry instead of using a scanner.

We know how agile processes are with RFID, which are basically a version of bar-code, but instead of just being read by a laser reader, they transmit information via radio frequency. However, the RFID is not as simple replacement for barcodes, but rather the coexistence between these two technologies, applying one or the other to the most convenient situation. In general, barcodes are better for collecting information in well-structured and designed processes, such as warehouses with “static” products, while RFID tags are a practical way of collecting information from more “mobile” assets, with less structured, chaotic businesses and in situations where the use of barcodes is impossible or unpractical.

I found, RFID technology has been widely adopted in various industries for tracking and identification purposes. The decision to adopt RFID technology in 2024 would depend on specific business needs and objectives. However, some potential benefits of RFID technology include improved inventory management, enhanced supply chain visibility, increased operational efficiency, and reduced errors in data collection. It is important to conduct a thorough evaluation of costs, compatibility, and implementation considerations before adopting RFID technology.

What according to experience is RFID ; active and rewritable is the best way for getting highest visibility of inventory. This is comparatively a costly system and have to be used very judicious manner without affecting the economy of inventory management. So look at 1) inventory cost 2) criticality of inventory 3) transaction value proposition etc. to decide on this ; or the Barcodes and wearable systems with IoT environment is ideal for creating higher visibility. Also don’t forgot to adopt 5s tools Roby

RFID technology is more likely an extension to the existing barcode setup instead of a replacement. Some may have concerns about a different pricing structure, other's are talking about security issues. Depending on the industry, RFID can help and make a difference, but shouldn't be the only reliable stock tracking option one has.

Barcode and RFID technology: Utilize barcode and radio-frequency identification (RFID) technology to accurately track inventory at various stages of the supply chain, from receiving at the warehouse to distribution and delivery. These technologies enable automated data capture, reducing human error and improving accuracy.

From previous experience having a standardisation for inventory protocol is incredibly helpful although not always doable. Where possible all systems and processes should talk to each other and being standardised helps that.

Conduct regular audits and cycle counts to verify physical inventory against recorded levels. This helps identify discrepancies and correct errors promptly, improving overall accuracy.

There is no doubt that this is critical in inventory management!! This allow us to improve inventory visibility but also support accurate inventory management.

Training, training, training. Supervision is a huge factor as well but training is where it starts. More so, STANDARDIZED TRAINING. Time and time again I have seen inventories fall short because not one person is doing one process the same way. Everyone has their own way of doing things but in order to optimize and standardize your inventory processes, you must standardize your training.

A padroniza??o do processo de inventário contribui muito para o progresso do mesmo. Faz com que fique fácil a execu??o dando fluidez ao andamento proporcionando maior agilidade e confiabilidade. Um processo bem definido e desenhado ajuda todas as etapas e setores de uma empresa...

When I was a deli manager I prided myself on full shelves and empty back rooms. Inventory that your customer can not reach is inventory you don't need. Get back to the basics if you have to- know how much you'll use a day, how often you receive new inventory, and crunch those numbers. Even if you think you know how much you need, you may find you've been over ordering -and over spending.

Data analytics will help to identify and solve inventory problems, such as excess inventory, obsolete inventory, inventory shrinkage, and inventory discrepancies. Various analysis and inventory dashboards can be prepared based on past data to define optimum inventory levels

Data is key for inventory allocation and reserves. Continuously reviewing on hand balances, demand, and open orders. It’s key to ensure your open orders have enough on hand to fill them, while serving on demand customers as those orders come in. Mins and max with data ensure your replenishment cycle is pulling the right demand.

I agree wholeheartedly with this when using the right data provided by the right systems. Forecasting is made easier as trends can be seen and these can be forecasted for. Over stocks eliminated and understocks( no stocks) eliminated. Cash flow is not tired up in storerooms with overstocked slow moving items.

Data is huge. If human's do everything manually, what happens when that person retires? Are they good at training the next person? Maybe not. With good data, we as managers can make decisions that will keep their plants running. Not because Jerry knows when the tank is 3/4 empty he needs to order more material.

I agree to a lot of the good points already mentioned. I would like to add two very tangible examples of approaches that will improve inventory management in general: 1. In a global organization, like FLSmidth, it is important to “speak the same language”. We have prioritised that all inventory planning personnel go through the APICS CPIM certification. 2. To ensure clarity on rules and responsibilities, we regularly update job descriptions and we have introduced cross functional RACI templates and continue to expand on those.

To obtain success and sustainable change, a business needs always to observe the tripod Process-Management System- People. It would be a huge mistake to believe that only designing and “building” a process, with a management system to control it, the success will come. It is necessary to build the competency among the users and stakeholders involved. For that is necessary to understand the level of readiness for change the team is now (Ready, Willing and Able to Change). That will help to understand where more effort will be applied to make it work and to design a proper change program.

Investing in training and development ensures our staff not only navigate current systems but also thrive amidst evolving technologies. Continuous improvement helps in achieving adaptability, boosts efficiency, and positions our inventory team as a strategic asset.

The most important tool we can work with is humans. Introducing all kinds of different systems will not be effective if our staff is not willing to learn or motivated towards a goal.

With the immediate uncertainty surrounding the car business, customers are scarce. Dealerships have to be on top of their games, which makes the training of salespeople so important. I’m referring to role playing (one on one and group), product walk-arounds, demonstrations, etc; no shortcuts like videos or dvd’s.

Before initiating inventory visibility and tracking, it's crucial to align your supply chain network with industry standards. Determining ownership dictates the relevance of inventory tracking and visibility at various nodes within the supply chain, such as customers, plants, or warehouses. Another key aspect is fostering strong supplier collaboration to monitor the movement of key raw materials and ensure effective inventory visibility. Subsequently, ERPs and RFID tags can be employed as needed to facilitate inventory visibility and management as per requirements

In my experience, it is important to measure the frequency of arrivals of goods at your doorsteps such as daily , weekly, monthly quarterly and check the reliability of their frequencies. If the reliability percentages are high over the period then one should start renegotiation with SCM partners to reduce the static stocks kept as a buffer and taken into the consideration for reorder point. Reduce the batch size based on the consumption.Always plot Demand vs consumption. The traditional approach of ABC analysis in the current dynamic and more cyclic nature of business doesn't work anymore.It's block your working capital cycle. The technologies are evolving everyday and designs are bound to change so our approach has to be dynamic.

All are great practice. The real question is why not implement all strategies into one that helps align industries using cloud base software to help flow of information but in an ethical manner. Combination of barcodes and RFID allow both visibility in real time and scanning where products still need to be physically touched. You can never have enough training but add an inclusion element that empowers employees to help constant improvement of processes and allows them to take ownership. All while leveraging and bring all of data analytics using Gen AI?

Vendor Managed Inventory (VMI) is another method by which supply chain visibility can be improved. Suppliers can monitor the demand and inventory levels of the customers. This will foster collaboration in the supply chain and increase real time data sharing. There is also a chance to improve forecasting accuracy and it can reduce the Bullwhip effect in a supply chain (or network these days). Having a VMI can ultimately optimize replenishment levels thereby helping to streamline the supply chain by reducing lead times and minimising the chances of a stock out.

# Regular physical audits # supplier performance management # Cross functional teams alignment and training # collaborate with suppliers and partners