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Inventory Management

Inventory Management is an extremely critical function for organizations. Effective management of inventory can lead to huge financial benefits by reduction in carrying cost and products wastage due to reduced risk of obsolescence. Piece (batch) level identification & tracking also helps to monitor and hence reduction in malpractices & pilferage and avoid material mishandling.

Manual Inventory management

• Identification and tracking of each SKU is extremely difficult and time consuming. Also the manual process of cycle counting and stock reconciliation is tedious, time consuming and prone to human errors.
• Following Inventory Management principles like FIFO, JIT etc. is extremely difficult and hence it is frequent to come across problems like stock outs leading to business loss  or wastage of products due to obsolescence
• Proper MIS reports will not be available in required timeframe leading to wrong decision making.
• All above issues will have severe financial implications on the organization.

Track, trace and identify inventory throughout your storage, handling, and distribution processes

Intellicon’s Inventory Management Solutions using cutting edge ADC technologies can provide an answer to all the process bottlenecks effectively and efficiently.

On the whole, the functionality of the solution encompasses the following:

• Barcoding each SKU for piece (or batch) level identification
• Barcoding of each Location where units are stored for error free tracking of the material
• Scanning the barcodes instead of filling up reports by hand
• Tracking the material during inward from suppliers or production and outward to other departments or customers as well as during QC process
• Managing the stock levels using FIFO or any other management practice followed in the organization
• Performing “Cycle Counts” using AIDC technology rather than counting it physically and entering it manually
• Automatic re-order alerts for items nearing stock outs

Key Benefits

• Simplified task of tracking, maintaining and reordering of materials which leads to better inventory management
• Reduced loss of material due to better tracking and informed stock movement
• Elimination of manual errors
• Faster and efficient Cycle Counts
• Better MIS reporting for taking informed decisions