Hiring inventory managers and employing expensive tracking software isn’t feasible for small scale businesses. However, big or small, inventory management is a crucial aspect of managing stocks and running the operations smoothly.
Thus, we at Indospace believe that improved inventory management practices are a privilege every entrepreneur should avail irrespective of size and scale of operation. So what if the pricey warehouses for rent in India fall out of your budget and well-managed logistics park are insanely big for your use. Just like one size doesn’t fits all, a remotely managed integrated warehouse service wouldn’t be viable for every business. So if you are just starting up, here are a few tips to help you manage small warehouses from the experts.
The first step towards making sense out of chaos at any inventory is to start to label all items, following a specific nomenclature. At our warehouse space in Chennai for rent, we have a dedicated staff, software and machines to take care of just that, but you can start off with sticky slips and a marker as well. The nomenclature should be standardized and contain useful information as well. For instance, you can start the code with your warehouse number (SKU1- stock keeping unit 1), followed by the product category, brand name, date of manufacturing and date of expiry. This will give you a fair idea of which items of the stock you must push through sales.
Thus, we at Indospace believe that improved inventory management practices are a privilege every entrepreneur should avail irrespective of size and scale of operation. So what if the pricey warehouses for rent in India fall out of your budget and well-managed logistics park are insanely big for your use. Just like one size doesn’t fits all, a remotely managed integrated warehouse service wouldn’t be viable for every business. So if you are just starting up, here are a few tips to help you manage small warehouses from the experts.
- Step 1
The first step towards making sense out of chaos at any inventory is to start to label all items, following a specific nomenclature. At our warehouse space in Chennai for rent, we have a dedicated staff, software and machines to take care of just that, but you can start off with sticky slips and a marker as well. The nomenclature should be standardized and contain useful information as well. For instance, you can start the code with your warehouse number (SKU1- stock keeping unit 1), followed by the product category, brand name, date of manufacturing and date of expiry. This will give you a fair idea of which items of the stock you must push through sales.
Step 2
Put same category of products arranged brand wise and date wise in the same place. This will help you finish up older stock first and remain organized. Even if your products are non-perishable or do not have substantial effect of ageing, you will know where to find what precisely. And the status of stock levels would be more visible.
Step 3
Stack your pellets horizontally instead of vertically, keeping the older batch up, as it makes it more accessible and saves space. The only exception to this is furniture and electronic appliance. Follow the storage guidelines in this case.
Thus with these tips you can keep your inventory organized.
Put same category of products arranged brand wise and date wise in the same place. This will help you finish up older stock first and remain organized. Even if your products are non-perishable or do not have substantial effect of ageing, you will know where to find what precisely. And the status of stock levels would be more visible.
Step 3
Stack your pellets horizontally instead of vertically, keeping the older batch up, as it makes it more accessible and saves space. The only exception to this is furniture and electronic appliance. Follow the storage guidelines in this case.
Thus with these tips you can keep your inventory organized.