Logistics and warehouse operations become critical, especially near the end of each quarter, as businesses rush to stock up. This blog provides essential tips to navigate and mitigate these common pitfalls and ensure that stock replenishment and inventory processes are controlled.
INSTANT QUOTE
Understanding Common Inventory Problems and Challenges
Businesses with warehouses and distribution centers in and around the National Capital Region, being the center of 38% of the Philippinesโ e-commerce transactions, admit that keeping up with warehouse and inventory problems and avoiding stockouts tends to be even more challenging during these seasonal spikes.
These common inventory problems are not new to most of the large-scale businesses that have been competing in the market for a long time; which is the reason why theyโre still thriving. But to SMEs and new businesses, being aware of these would be very helpful for a sneak peek of whatโs coming in their stock and inventory processes during the peak demand.
Inconsistent Data Tracking
Gone are the days of relying on book-thick records for inventory, as manually tracking stock levels across various spreadsheets and software platforms is time-intensive, duplicated, and prone to oversight.
Regular Need to Optimize Warehouse Processes
Overseeing warehouse tasks like receiving, storage, order picking, and shipping in the most efficient manner possible remains labor-intensive. Businesses must perform these functions in streamlined workflows to avoid backlogs.
Maintaining Real-Time Visibility to Inventories
Without precise inventory counts at any given moment, companies risk subpar customer service and revenue leakage. While periodic full-warehouse inventory audits once sufficed, todayโs fast-paced climate demands more responsive tracking.
Reactive to Shifts in Demand
As customer interests fluctuate, keeping excessive products on hand leads to dead stock and cash flow issues. However, undersupplying prevents order fulfillment. Strategic safety stock calculation, dynamic replenishment protocols, and demand forecasting applications allow firms to align supply and demand better.
Tips to Ensure Effective Stock Replenishment For Peak Periods
Strategic Inventory Management
An advanced inventory management system is not just a luxury but is now considered necessary in a technology-driven market. Systems that provide real-time data, streamline operations, and facilitate better decision-making processes should be considered by most businesses to function effectively.
Strategic Stock Replenishment
Similar to what strategic inventory management is trying to achieve, strategic stock replenishment focuses on the specific goal of preventing stockouts and overstock situations. Having sales data and inventory level analyses, businesses can determine the best times to reorder products.
But time is not the only essence of stock replenishment. The logistics management and delivery times should be part of this strategy. Partnering with a reliable logistics provider like Transportify that can offer you a wide range of vehicles and experts in different handling methods is advantageous to all types of product to replenish.
You may review Transportifyโs different vehicle options for delivery and select what best fits your delivery needs.
| Vehicle Type | Dimensions/ Weight Limits | Base Price (Metro Manila) | Base Price (Outside Metro Manila) | Base Price (Visayas/Mindanao) |
|---|---|---|---|---|
 Wing Vanย | 32 to 40 x 7.8 x 7.8 ft 12000kg to 28000kg | 7000 PHP | 6500 PHP | 6500 PHP |
 6w Fwd Truck | 18 x 6 x 7 ft 7000kg | 4850 PHP | 4850 PHP | 4850 PHP |
 Closed Van | 10 to 14 x 6 x 6 ft 2000kg to 4000kg | 1600 PHP | 1450 PHP | 1450 PHP |
 Open Truck | 10 to 21 x 6 ft x open 2000kg and 7000kg | 2300 PHP | 1950 PHP | 1950 PHP |
 L300/Van | 8 x 4.5 x 4.5 ft 1000kg | 415 PHP | 330 PHP | 310 PHP |
 Small Pickup | 5 x 5 ft x open 1000kg | 310 PHP | 250 PHP | 220 PHP |
 Light Van | 5.5 x 3.8 x 3.8 ft 600kg | 250 PHP | 192 PHP | 225 PHP |
 MPV/SUV | 5 x 3.2 x 2.8 ft 200kg | 160 PHP | 130 PHP | 140 PHP |
 Sedan | 3.5 x 2 x 2.5 ft 200kg | 140 PHP | 110 PHP | 120 PHP |
Staff Training and Safety
As how intensive we are trying to improve the inventory processes, it should be at the same level as how businesses should improve manpower skills and capacity. Regular training sessions for staff on best practices and safety protocols cannot be overstated. Well-informed employees are vital in operating an efficient warehouse management, reducing the risk of accidents, and improving overall productivity.
Lean Inventory Techniques
Adopting lean inventory techniques can help businesses minimize waste and reduce storage costs. This approach focuses on keeping just enough inventory to meet demand without excessive overstock. Techniques such as Just-in-Time (JIT) inventory can significantly cut down costs and increase warehouse space efficiency.
Regular Audits and Quality Checks
Continuous monitoring is always the best action in the post-processing of supply chain initiatives. Conduct regular audits and quality checks to catch discrepancies and maintain quality control. This proactive approach helps identify issues early, allowing for timely corrections and adjustments to inventory records.
Tips to address common stock replenishment and inventory problems are just a guide but knowing them can be very effective for businesses to consider as it provides key insights to handle inventory. A brief guide towards strategic planning, technology, and best practices, will pave the way for more organized, efficient, and productive inventory operations of businesses of all sizes.
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