Stock Conversions and Maintenance: How Do They Work?

November 1, 2017

If you are unfamiliar with the term 'stock conversions and maintenance', it is simply in-depth inventory control. It involves monitoring your stock in an organised fashion so that you understand what comes in and goes out of your warehouse. Also, it shows you what stock is depleted or low and that you need to order along with the overstock you may have taking up space in the warehouse that you need to push to lessen its supply to make room for additional fast-moving stock. We share with you in the following facts how to go about inventory control in the proper manner to receive maximum results.

Computerised Data Collection

Today, most companies accomplish this stock conversions and maintenance with the help of computerised data collection. With a combination of the latest computer software, you can track your incoming, outgoing and current stock on a daily basis. Also, the software keeps track of buying trends to help you understand which products are fast movers and the ones that move slowly. Another component to this tracking system is the use of barcodes on your products. The barcodes can even include the location of the products in the warehouse to facilitate stocking the racks or order fulfilment.

Track Each Order

You should also track all orders to learn which products sell quickly, in a seasonal manner or slowly. Do this by including the barcodes for the products on each order as we mentioned earlier. When you take this action, you gain tight control over your inventory so that you are always in the know of how much stock is outgoing and at what speed.

Set Software to Notify You When Stock Is Low

The computer software can be set to notify you when stock is low on any of your products. You will be able to accurately order at the precise times when it serves you best. As a result, your clients will suffer fewer backorder issues that may negatively hinder their business success.

Reorder According to Product Demand

Always reorder according to present demand unless there are items that are seasonal and that their season is approaching. This utilises your warehouse space efficiently and keeps adequate space for the fast-selling and slow-selling products, but with taking their demand into account.

For further details about how stock conversions and maintenance work, consult with Challenge Packaging and Warehousing Solutions. We are experts in providing outsource services and storage to help you manage your warehouse and order fulfilment needs, including inventory control and maintenance. Our goal is to assist our clients with their distribution efforts to increase their success.

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Vic 3026

Telephone: (03) 83609736
Fax: (03) 83609738
Email: info@cpacks.com.au

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