Enhanced Inventory Management for Happier Customers
Suboptimal inventory management in supply chain has led to lost sales for most (77 percent!) businesses. After all, it’s hard to strike a balance between too little inventory and too much.
Too little of your wares, when and where they’re needed, can upset customers. But inventory bloat introduces its own liabilities—from storage and insurance costs to theft, damage or spoilage risks.
Toss in a wrench or two, like an unexpected change in the market caused by a recall or tariffs, and businesses are often left scrambling to meet proper handling, picking, and stocking requirements. That puts revenues—and customer satisfaction and retention—at risk.
As customer service expectations continue to rise, many businesses, large and small, are turning to third-party logistics providers like AIT to fill the gap.
What is inventory management?
Your inventory is the goods or materials you intend to sell. That makes inventory management—the supervision of those goods and/or materials from their point of origin to your customers hands—a critical juncture in the supply chain.
Effective inventory management leads to having the right product in the right place at the right time more often than not.
The basic phases of inventory management are:
This requires an understanding of how much of a required raw materials or components should be delivered to the warehouse (yours or your 3PL providers).
Inventory is stored until needed. Raw materials are moved to production facilities to be made into finished goods and returned to stock areas until ready for shipment.
The amount of product for sale is controlled. Finished goods are pulled to fulfill orders. Products are shipped to customers.
How do AIT’s inventory management services create value for organization?
AIT has more than four decades of experience optimizing inventory management in supply chain.
We’ve helped organizations of all sizes and industries—including aerospace, automotive, pharmaceuticals, entertainment and beyond—make the most of their commodities.
When you partner with AIT for inventory management, you can:
- Reduce excess inventory
Doing away with inventory bloat not only cuts carrying costs, it frees up warehouse space and shortens the time between completed picks.
- Better understand your inventory needs
A strong grasp on your inventory needs puts an end to over- or under ordering, protecting you from backorders—and irritated customers.
- Optimize picking paths
Streamlined picking paths mean increased order fulfillment, calmer employees, and improved transit times between picks.
- Enhance data visibility
Tracking technology and data integration help you know when to reorder, how much to order and where to store your inventory. And automated systems eliminate the risk of human errors that accompany outdated, paper-based systems.
How does AIT’s technology streamline inventory management?
From automatic data capture to barcode scanning and everything in between, AIT removes the complexity from inventory management for supply chain, allowing your employees, customers and vendors to effectively sort, view and manage information flow.
Thanks to automation, specifically, we can enhance accuracy in inventory management, reducing errors and creating intuitive and responsive warehouse and supply chain systems. Learn more about our technology.
Team with inventory management experts to upgrade your customer experience
When you streamline your warehouse management and enhance order accuracy your customers and bottom line will thank you. Partner with AIT for access to inventory tracking, transfer and order management, reporting and analytics and more. To learn more about our programs or start today, contact a representative.