Warehouse and Distribution is an important aspect of our economy. It will not be wrong to say that the economy of any country is directly related to the distribution of its goods and services all over the world. There are countless logistic services who cater to this umpteen task of freight shipping along with warehouse on a day to day basis. It is because of these people that we can access different set of products from across the globe and also make people aware of the kinds of product we use. The enormity of distribution system is difficult to gauge considering the huge in flow and out flow of raw material as well as finished good each and every day. A well organized warehouse services include terminal management, container handling, bondage, web enablement and pallet management to name few. However, the most essential and integral part of this system of warehouse and distribution is inventory management. Whether it is a bulk consignment or break-bulk consignment, in both the cases maintaining the inventory is not only crucial but important beyond doubt.

 

The precise objective of inventory management is provide seamless and hassle free production, sales and customer service at the lowest cost. However, it is a fact that what sounds rather simple can be a huge cause of problem to the company. Since for many warehouses the inventory is huge in the current asset category, even a slight mistake or in-appropriation can result in huge loss and business failure. Thus maintaining inventory become extremely important in order to have a smooth running of the supply chain.

 

Inventory management typically includes replenishment, asset management, inventory forecasting, valuation of the inventory, costing of the inventory, physical inventory, quality management, available space for the inventory, returns, count of defective goods and demand forecasting. Balancing all these areas is what ultimately decides the optimal inventory levels and helps in a streamline and productive warehousing and distribution system.

 

The people dealing with inventory closely work with their customers in order to get a clear picture of the merchandise along with its shipping, ordering and handling of the shipment. Successful logistics and warehouse ensure that that have proper manual as well as software system set in place that can help in setting targets and provide data adequately and project the much needed inventory status. This helps in keeping in controlling the stock and the overall distribution function.

 

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