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10 Inventory Management Tips for Miami Warehousing

May 22, 2018 Courier


Warehousing is a lot easier when you have a professional team providing the storage solutions you need. But, you shouldn’t depend on their services alone, no matter how dependable they are.

It’s always best to double-check and have all your bases covered. This way, you’re prepared for any changes in your market no matter how minor or serious they are.

Here are ten things you can do to make your Miami warehousing more efficient.

1. Do Cycle Counts

You’ve heard of auditing and yearly reports. Have you ever done cycle counts, though? These break down big counts into small sections.

Instead of scheduling one day per quarter or one week a year to count everything, you count your inventory in sections. One day you may count the most valuable items, while the next you may count the most perishable or check how much you have left of an in-season item.

This is like spot-checking. Cycle counts help you catch smaller errors in overall inventory measures by taking on a certain chunk of the inventory one by one.

2. Track Who Goes in and out

While cycle counts help you track the flow of products, you also have to track the flow of people. There should be one clearly appointed person in charge of your warehouse inventory. This may be yourself or a point person from the warehousing service you’re contracted with.

Either way, some level of authority has to be established. This keeps you from having your product exposed to too many people.

3. Know Your Top Buyers

Another group of people you should be aware of are your top buyers. Think of who places the most frequent and/or largest orders with you. You have to be able to meet their needs every time they need to restock.

Always anticipate these needs. Be proactive and make sure you have more than enough to cover these orders. You shouldn’t go overboard, but having one or two extra pallets may help you make a bigger sale as customers keep coming back for more.

4. Stock up on Your Best Sellers

Maybe instead of a few large orders from the same buyers each month, you get a lot of orders for the same handful of things. These are your best sellers, which you always need to have ready to go.

Make sure you have them in good condition and get a feel for the market, too. If you work with produce or the restaurant industry, for example, you’re going to have to account for changing of seasons. If you work in entertainment or technology, you have your own set of industry changes to account for in these fast-paced environments.

5. Make Forecasts for Everything

When it comes to warehouse inventory management, you really can’t have enough forecasts. The predictions mentioned above are just the start.

There are also forecasts for everything from having enough space in the warehouse to growth rates and sales numbers to beat from the previous years. It’s a lot of numbers to keep track of and even more warehouse stock to make sure doesn’t go to waste.

6. Have a Backup Plan

As helpful as forecasts are, something is still bound to go wrong. The weather may delay your shipment plans in your local area, or an unforeseen event in the business of a major client may cause them to delay their order.

These are just a few things that throw curveballs into the world of warehouse management. Professional warehousers are used to them, but, it’s in your best interest to try and stay one step of ahead when something happens to you.

7. Categorize Your Inventory

Whether in crisis or on a normal day, you’re going to be glad you categorized your inventory. You can do this in a variety of ways.

If you work with fresh materials like flowers or raw food, for example, a FIFO warehouse inventory system is the best way to go. But, if you operate based on high and low seasons (like the holidays or certain weather-related peaks), you may have to come up with a different way of categorizing everything.

8. Stay on Top of Spoilage

Spoils are one of the worst things that can happen in your warehouse.

FIFO organizing can prevent it, but you still need to watch out for things like temperature control and timing. The longer fresh items sit in your warehouse, the smaller a client’s window of opportunity gets to make use of your product.

9. Watch out for Dead Stock

People tend to think of spoils as exclusive to produce and other fresh materials. However, dead stock is basically the “spoil” of material items.

Say you’re storing Christmas decorations or Halloween costumes. If you don’t sell those items this season, you’ve just created dead stock for yourself to get rid of next year. Even worse, you may have to try to sell such items in their off-season, which is a time it’s hard to find anyone interested.

10. Organize the Warehouse

Last but not least, always make sure the warehouse is organized. This is something you’re going to have to work with your warehouse team to improve and manage.

You may realize it’s time for an entire warehouse re-organization or that you just need to make a few tweaks in how things get done. Still, it has to be done. Without the proper management, all the tips above cannot be used to their fullest.

Miami Warehousing Made Simple

Businesses come and go in Miami, just like anywhere else in the world. But, with the strong buying power of consumers and the influence of many cultures, trends tend to rise and fall faster here.

Make sure you’re always ahead of the curve with the proper Miami warehousing to support your business. This allows you to reach your customers, track your inventory, and most importantly, have the peace of mind to plan for the future initiatives of your business.

To discover what our warehousing solutions in Miami can do for you, click here.