When taking into account several aspects in order to optimize delivery times, route planning and inventory management, much attention must be paid to the product itself that is present in the warehouses. We are talking about the stock or inventory.
Of course, not all types of stock can be treated in the same way. There are stocks that need special attention because they are more perishable, fragile or have more restrictive measures than others.
Any sector must work very well with the following types of stock, which are classified according to their functions and operational criteria.
Types of stock according to their functionality
Not all inventory in a warehouse serves the same function. These include stock that is stored in a warehouse, in transit to its destination, and stock that has yet to arrive to replenish inventories. The following are mentioned below:
These are the stocks available for sale and distribution, which move between maximum and minimum limits. Of course, they are of utmost importance as they are the type of stock that directly affects customer demands, therefore, their quantity, the detection of possible defects, among other aspects, must be well monitored.
It consists of inventory that has a regular demand and has this function: to cover it without being affected by unusual times or circumstances. As it is a matter of satisfying the number of regular orders, it is of great importance to control its stock level through the implementation of safety stock, among other measures. If this were not the case, there would be a serious case of stock out.
These are stocks designed to meet high demand at a peak of sales based on specific seasons such as the Black Friday or Christmas. First of all, you must calculate the expected number of orders based on previous years and make sure that this stock is suitable for distribution and sale.
As its name indicates, it is the type of additional stock that is intended to anticipate possible problems with the active stock, for example, factory defects, delivery delays, among other things. It is also used to cover unexpectedly high demand, excluding certain times of the year.
It is of utmost importance to have this type of inventory, especially at peak demand to avoid stock-outs.
For rather economic purposes, it is stock that is ordered more than necessary due to the benefit of price reductions and discounts. However, special care must be taken in distributing it among the active stock because an excessive quantity can cause an excess of inventory that can become inactive due to expiration dates and product obsolescence.
Not to be confused with the active stock, these are the goods that are in an internal process of the company, either delivery or distribution. It is possible to take control over these stocks thanks to route optimizer that report in real time the progress of the order.
Types of stock according to the operational organization
It consists of the type of stock that circulates and is managed on a daily basis in a warehouse. Its constant supervision is essential to detect errors and fulfill daily orders.
This is the desired stock level because it reduces maintenance costs as much as possible while meeting all demand.
However, it is not easy to reach this figure due to the multiple external factors that can occur. For this, it is necessary to study the previous inventory levels and adjust the types of stock according to their functions so as not to fall into one extreme or another.
It is relatively simple to control the physical stock, since it is inside the warehouse, but you have to take into account the orders that are pending to be shipped. For that reason, the net stock compiles the subtraction of the physical stock with the inventory already ordered.
Thanks to this type of stock, inventory problems can be avoided by regularly monitoring order requests.
It consists of the number of stock that is ready to satisfy the demand, but taking into account the inventory pending arrival and the orders already placed. It is then calculated by adding the physical stock by the stock pending to be received and subtracting by the stock pending to be served.
It is a very important data to calculate correctly on a daily basis because a small failure can result in not enough inventory to serve the entire demand. Or, on the contrary, that you are not performing optimal conversions because you are not estimating correctly the stock that has to arrive at the warehouse.
For optimal inventory management in warehouses, you need to monitor all types of stock that your warehouse may have, giving special importance to those mentioned above.
However, there are tools that help streamline operations within warehouses. At Hedyla, the Picking optimizer streamlines the productivity of product preparation, reducing both costs and time invested. Therefore, it is one more tool to have control over the types of stock circulating in the warehouse.
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