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Top Challenges of Product Warehousing

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Top Challenges of Product Warehousing

  1. 1. Sources: netsuite.com/portal/resource/articles/inventory-management/inventory-management-challenges | industryweek.com/supply-chain/ warehousing-and-distribution/article/21965137/supply-chain-logistics-top-5-warehouse-challenges-and-how-to-overcome-them | deposco.com/ blog/13-shocking-supply-chain-statistics-you-wont-believe/ TOP CHALLENGES OF PRODUCT WAREHOUSING Ineffective warehouse management Complexities in the supply chain Inventory loss and problematic stock Intensified competition Outdated software and platforms Inadequate order and inventory management Inaccurate data and inconsistent tracking Insufficient space or lack of layout utilization Erratic changes in demand/economic shifts Packaging wastefulness and design shortcomings Update to cloud-based inventory management platforms with demand forecasting tools and automated reordering systems with centralized tracking. Implement mobile productivity tools allowing remote control of inventory with cloud-based software. Utilize stock auditing processes to help provide more accurate inventory data. Go paperless with digitized documentation. Add distinctive imagery throughout the database to reduce human error. Create inventory classifications to update stock control systems for monitoring quantity and cost while improving storage. Reduce redundant processes with barcode technology and system-directed pick/put away procedures. Subcontract in-person training, experts in inventory management, etc. Consult manufacturers of custom-made packaging machinery to increase operation speed and meet rising demands. Design a more optimal warehouse space to create a streamlined workflow. A survey revealed that 34% of companies lack insight into supplier performance 46% of supply chain professionals continue to rely on Excel spreadsheets WAYS TO OVERCOME THE CHALLENGES

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