Inventory accuracy is the most important metric for the supply chain. Without the significant level of accuracy, organizations will not be able to predict/forecast, costs will increase, and the productivity of shop floor workers will suffer. To solve these challenges, organizations use cycle counting process that aims to conduct the right number of counts to enable them to maintain accurate levels of inventory. Inventory accuracy empowers organizations to provide customers the products they want when they want it.
However, using an inefficient cycle counting process may leave you at risk of creating misplaced inventory. It causes delays in locating inventory that leads to customer dissatisfaction and missed future business opportunities. To maintain adequately accurate records, organizations should have a solution in place that enables visibility into their inventory no matter where it residesl. With the right solution, organizations can eliminate the gaps in inventory management and enable to them find answers to the following questions:
- How often has the inventory misplaced or sat idle?
- How often does work stop while a foreman runs to the depot for tools or materials?
- How often you need to buy a new inventory without knowing, weather is it available or not in your stock.
- The amount of inventory theft or waste and their real cost.
Deliver the Right Goods at the Right Time, Every time with mInventory
Innovapptive offers a solution for Inventory and Warehouse Management- mInventory that helps to break down the barriers in inventory management and supply chain. The solution enables users to perform common inventory transactions through handheld devices, smartphones, and RF scanners with ease, resulting in real-time transaction processing, improved data accuracy, and increased convenience. With mInventory, you can perform cycle counts quickly from the warehouse floor and view/tracks stock movement with precision across plants, storage locations, trucks, and bins. It helps you manage high-volume warehouses, production warehouses, manufacturing units/facilities, stockrooms and more. mInventory eliminates downstream problems by enabling you to scan/read bar codes, QR codes and avoid duplicates and chances of errors.
With mInventory, you can ensure real-time shipping and receiving operations with instant updates to your SAP system, providing immediate access to accurate and timely inventory information. It improves demand planning and reduces inventory levels while increasing working capital with deeper insight into your supply chain.
mInventory leverages the latest technologies such as IoT, Drone, Wearables. In conjunction with wearable (HMT), it enables your warehouse workers to perform transactions hands-free while providing the ability to listen and respond to voice-based directions so that they can process tasks in an efficient way. mInventory gives you enamours benefits such as improved inventory accuracy, increased productivity, identifying errors in real-time, improved customer service and higher fill rates. Your cycle counts can be more accurate and transparent. Moreover, errors that lead to warehouse shutdown are eliminated and misplaced or lost inventory/products can be found quickly.
mInventory enables you to:
- Achieve 98% accuracy of inventory levels.
- Improve inventory accuracy by 30%.
- Reduce inventory carrying costs by 5 – 10%.
- Perform physical and cycle counts quickly and accurately.
- Streamline goods receipts, issues, transfers and returns.