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How can you use data management to accurately track product expiration dates?

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Tracking product expiration dates is crucial for inventory management, as it helps you avoid waste, spoilage, and customer dissatisfaction. But how can you use data management to accurately track product expiration dates and optimize your inventory performance? In this article, we will explore some data management techniques and tools that can help you achieve this goal.

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Sinisha Matikj

Contracts Manager @ GAC Group | MBA | CISCP, CISCM | Result-Oriented Dynamic Leader | Exceptional Negotiator |…

1 Understand your product types

Different products have different shelf lives, storage requirements, and demand patterns. You need to understand your product types and categorize them accordingly. For example, you can use the ABC analysis to classify your products based on their value, turnover, and profitability. You can also use the FEFO (first expiry, first out) method to prioritize products that expire sooner. By understanding your product types, you can assign appropriate data attributes, such as expiration date, batch number, location, and quantity, to each product.

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2 Collect and validate data

To track product expiration dates accurately, you need to collect and validate data from various sources, such as suppliers, warehouses, distribution centers, and point of sale systems. You can use barcode scanners, RFID tags, or IoT sensors to capture data automatically and reduce human errors. You can also use data validation tools, such as data quality software or inventory management software, to check and correct data inconsistencies, duplicates, or missing values. By collecting and validating data, you can ensure that your data is reliable and up to date.

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ALEXANDRE JOSé MOREIRA DE SOUZA Opera??es Logísticas

Operador Logístico, Almoxarifado, ESG, Controle e Inventário de Estoque, WMS.
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Valida??o de dados?é o processo que assegura a integridade das informa??es inseridas em um sistema. Em outras palavras, isso significa que os dados necessários para a presta??o de servi?os estar?o devidamente completos, seguros, assertivos e consistentes

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3 Analyze and visualize data

To use data management to track product expiration dates effectively, you need to analyze and visualize data to gain insights and make decisions. You can use data analysis tools, such as spreadsheets, databases, or business intelligence software, to perform calculations, queries, or reports on your data. You can also use data visualization tools, such as charts, graphs, or dashboards, to display your data in a clear and interactive way. By analyzing and visualizing data, you can identify trends, patterns, or anomalies in your product expiration dates and take action accordingly.

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ALEXANDRE JOSé MOREIRA DE SOUZA Opera??es Logísticas

Operador Logístico, Almoxarifado, ESG, Controle e Inventário de Estoque, WMS.
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A análise de dados?é a arte de transformar dados em conhecimentos e insights relevantes. Ou seja, comparar ou agregar as informa??es brutas para entender o que os dados nos dizem.

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4 Automate and optimize data

To use data management to track product expiration dates efficiently, you need to automate and optimize data to reduce manual work and improve inventory performance. You can use automation tools, such as inventory management software or ERP systems, to integrate data from different sources, generate alerts, or trigger workflows based on your data. You can also use optimization tools, such as inventory optimization software or machine learning algorithms, to forecast demand, replenish inventory, or adjust prices based on your data. By automating and optimizing data, you can save time, money, and resources and increase customer satisfaction.

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5 Review and update data

To use data management to track product expiration dates continuously, you need to review and update data to keep it relevant and accurate. You can use review tools, such as audits, feedback, or surveys, to evaluate your data quality, accuracy, and completeness. You can also use update tools, such as data cleansing software or inventory management software, to modify, delete, or add data as needed. By reviewing and updating data, you can maintain your data integrity and currency and adapt to changing market conditions.

Tracking product expiration dates is not only a compliance issue, but also a strategic opportunity for inventory management. By using data management techniques and tools, you can track product expiration dates accurately and use them to improve your inventory performance.

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ALEXANDRE JOSé MOREIRA DE SOUZA Opera??es Logísticas

Operador Logístico, Almoxarifado, ESG, Controle e Inventário de Estoque, WMS.
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Como funciona a revis?o de dados nas empresas? Normalmente, a?revis?o de metas?acontece durante o ciclo de avalia??o de desempenho ou no planejamento do próximo. E, a partir dessa análise de desempenho,?é?possível entender se as?metas?est?o sendo alcan?adas e realizadas como o esperado ou se precisam de altera??o.

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6 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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Sinisha Matikj

Contracts Manager @ GAC Group | MBA | CISCP, CISCM | Result-Oriented Dynamic Leader | Exceptional Negotiator | Strategic Thinker | Business Optimization | Process Improvement | LinkedIn Top Voice | 3PL | Logistics
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In data management, you can utilize a system where each product is tagged with its expiration date upon entry into the system. This information is then pulse-checked regularly and recorded in a database. For accuracy, consider pairing this with a barcode scanning system to automate the process. With this, products approaching their expiration date can be flagged for immediate consumption, sale, or disposal. Remember to be diligent in maintaining this database and perform regular audits to ensure accuracy. This strategy allows for real-time tracking, minimizes errors, and helps prevent inventory loss due to expired products.

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Galih Kusuma A.

Supply chain | Consultant | Data Analytics | Ecommerce |Operation| Technology Enthusiast
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To accurately track product expiration dates, employ a comprehensive data management system. Utilize a relational database for product information, implement barcoding or QR codes for unique identification, and set up automated alerts to notify of impending expirations. Integrate with Point-of-Sale systems for synchronized records, conduct regular audits, and employ batch tracking for traceability. Analyze historical data, collaborate with suppliers for updates, and ensure real-time updates through the supply chain. This approach enhances accuracy, minimizes waste, and optimizes inventory management within a concise framework.

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TARIQ ZAMAN

Streamline your logistics and warehouses | Optimizing Supply Chain | 3PL & Inventory Controller Nationwide | Bridging gaps in e-commerce delivery |
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To accurately track product expiration dates, implement a robust data management system. Utilize a database to store product details, including manufacturing and expiration dates. Set up regular automated reminders or notifications to prompt timely assessments and updates. Regularly audit and validate the data to minimize errors and enhance the reliability of your expiration date tracking system.

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How can you use data management to accurately track product expiration dates?

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6

1 Understand your product types

2 Collect and validate data

3 Analyze and visualize data

4 Automate and optimize data

5 Review and update data

6 Here’s what else to consider

Inventory Management

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How can you use data management to accurately track product expiration dates?

1

2

3

4

5

6

1 Understand your product types

2 Collect and validate data

3 Analyze and visualize data

4 Automate and optimize data

5 Review and update data

6 Here’s what else to consider

Inventory Management

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