Knowing where all your stock is all the time, accurately, is a challenge for many businesses. Specifically, reconciliation of stock is a key challenge, but we are here to help! As a preferred system integration partner for aviation, working with dnata, easyJet and En Route, we automate reconciliation as part of our complete end-to-end stock management solution.
Stock reconciliation is a critical process in inventory management, ensuring that the physical stock matches the recorded quantities in an organization’s inventory system. This task, though essential, poses significant challenges: Human error, time consumption, technology limitations. Done badly it leaves an organisation open to theft and fraud.
Human error. Manual counting and data entry can lead to discrepancies, which are exacerbated by complex supply chains and large inventories. Errors in shipment, receiving, and record-keeping can accumulate, making accurate reconciliation difficult.
Time consumption. Stock reconciliation is a labor-intensive process that requires meticulous attention to detail. Regularly reconciling inventory is necessary to maintain accuracy, but it can be disruptive to daily operations, especially in businesses with high inventory turnover.
Technological limitations also pose a challenge. While RFID technology can reduce errors, they are not foolproof and require significant investment. Technical glitches, system downtimes, and integration issues with existing platforms can impede the reconciliation process.
Appropriate automation of stock reconciliation overcomes these issues by advanced technologies such as UWB (Ultra-Wideband) and BLE (Bluetooth Low Energy), QR codes, and inventory management software to streamline the process. Automated systems reduce human error by accurately tracking inventory movements in real-time and updating records instantly. These technologies can perform frequent reconciliations with minimal manual intervention, enhancing accuracy and efficiency. Additionally, integration with other business systems ensures cohesive data flow and comprehensive oversight. While initial setup costs can be high, the long-term benefits of reduced discrepancies, improved operational efficiency, and enhanced accuracy make automation a valuable investment for businesses aiming to optimize their inventory management.
Our warehouse management software automates your supply chain, as part of a complete end-to-end stock management.
Our complete end-to-end stock management system can reduce costs by forecasting and setting supplier stock order dates required to maintain minimal stock levels whilst providing stock whatever it is required in your organisation.