Did you know that over 43% of small manufacturers admit they don’t track inventory effectively, leading to delays, waste, and even customer dissatisfaction? In the manufacturing industry, where downtime can cost thousands of dollars daily, efficient inventory management is critical to success.
In this guide, we’ll share practical tips to help manufacturers improve inventory tracking, reduce errors, and streamline operations. Whether you’re struggling with overstocking, stockouts, or inefficient workflows, these strategies—backed by tools like trakr Counting—can help you take control and drive results.
Disorganization can lead to misplaced stock, production delays, and increased labour costs. A well-organized inventory system helps manufacturers locate parts and materials quickly, improving efficiency and productivity.
Implement Shelf Labels: Clearly mark shelves with product names, categories, or part numbers. This simple step can drastically reduce the time spent searching for items.
Create a Categorized Catalog: Group products based on use, size, or location. For example, keep high-demand items in easily accessible areas.
Standardize Processes: Develop a consistent workflow for stocking and retrieving inventory. Ensure all employees follow the same organizational system to avoid confusion.
Use Zones for Efficiency: Assign specific areas for raw materials, work-in-progress items, and finished goods. This zoning method keeps the warehouse organized and ensures items are stored logically.
Studies show that businesses with organized inventory systems save an average of 20-30% on operational costs annually.
Uncertainty about stock levels can lead to costly mistakes, such as overordering or running out of essential materials. Real-time visibility into inventory ensures manufacturers can plan effectively and avoid disruptions.
Cloud-Based Systems: Use tools like trakr Counting to upload inventory numbers instantly, ensuring they’re always accessible. Real-time syncing eliminates manual updates and keeps everyone informed.
On-Hand Reports: Generate detailed reports to see exactly what’s in stock. This insight helps identify trends, forecast demand, and prevent overstocking or stockouts.
Cycle Counts: Conduct regular mini-audits of specific inventory sections to maintain accuracy without needing full physical counts.
A Deloitte study found that businesses with real-time inventory tracking systems experience 63% fewer stockouts and improved supply chain efficiency.
Picking Tools: Use a mobile app like trakr Counting to create pick lists and ensure the correct parts are selected every time. This minimizes costly mistakes and saves time.
Digital Receiving Logs: Record deliveries as they arrive using a cloud-based system. This ensures new stock is accounted for immediately and updates are visible to the team.
Cross-Check Deliveries: Verify shipments against purchase orders to catch discrepancies before they impact production.
According to the National Association of Manufacturers (NAM), businesses that streamline their picking and receiving processes see a 20-40% reduction in labour costs.
Set Par Levels: Establish minimum stock levels for each item based on usage trends. Automated alerts can notify you when it’s time to reorder.
Reorder Reports: Use tools like trakr Counting to generate reorder reports. These reports simplify planning and help avoid stockouts or overstocking.
Forecast Demand: Use historical data to predict future needs. This helps plan inventory for peak production periods or seasonal fluctuations.
Research shows effective reorder management can reduce excess inventory by 15-20% and free up valuable storage space.
Detailed reports provide valuable insights into inventory trends, costs, and usage. With this data, manufacturers can make strategic decisions that improve efficiency and reduce waste.
Value Reports: Track the monetary value of your inventory to manage budgets and assess financial performance.
On-Hand Reports: Identify available items and what is running low, ensuring stock aligns with production needs.
Trend Analysis: Use historical data to spot patterns, predict future requirements, and plan purchases accordingly.
According to McKinsey & Company, manufacturers that use data-driven reporting are 2.5 times more likely to achieve operational efficiency goals.
Efficient inventory management is the backbone of successful manufacturing. From organizing stock and streamlining picking to tracking inventory in real-time and using reports to make informed decisions, these strategies can save time, reduce costs, and improve overall operations.
Looking for a tool to help you implement these tips? trakr Counting offers a cloud-based solution that transforms any mobile device into your virtual clipboard, giving you the visibility and control you need to stay ahead.
Learn how trakr Counting can help you streamline your inventory processes, reduce downtime, and stay ahead of stock issues.
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