Learn how a typical inventory transfer works and how a mobile inventory management solution from Innovapptive:
- Improves high-level communication and collaboration among various stakeholders
- Optimizes inventory transfers across multiple plants and warehouses
Your business is growing, so is the challenge of managing your inventory prudently. A growing business needs to handle multiple inventory transfers, which can be overwhelming. Typical transfer challenges include inconsistent processes, human errors and logistical complexities.
Though overpowering, let’s break down this process to make things simpler for you. In this blog, we will address how effective inventory transfers work and introduce a software solution that helps you manage them effectively.
What is an inventory transfer?
An inventory transfer is when goods are transferred from one location to another. Location here refers to a plant, storage location, warehouse or as something as simple as a bin.
This is how a typical inventory transfer works:
- Define the inventory you want to move and its destination.
- Enter key data like SKU, quantity, type, status and more.
- Pack the items at the first storage location.
- Ship the inventory.
- Receive the inventory at the second storage location.
- Update the transfer in your records.
Though it looks simple, the real challenge occurs when you handle multiple inventory transfers back and forth.
Ensure efficient inventory transfers
Several factors play a major role in ensuring inventory efficiency. These include your storage location layout and the placement of barcodes on boxes.
Challenges you encounter during inventory transfers
Miscommunication is one of the most pressing challenges of inventory transfers. Knowing what is being transported, what is missing in transit and when goods will be delivered can be tough to track across multiple locations. Above all, if you are still relying on manual processes or lack access to a real-time picture of inventory activity, this will predictably lead to huge losses.
The need of the hour
An automated inventory management application that can sync in real-time across multiple locations guarantees consistent communication and improves accuracy. You can get a comprehensive view of what was transported, how much, when, where and other relevant information you want to incorporate. This eliminates guesswork and error-prone paper data entry.
Better manage inventory transfers across multiple plants and warehouses
Innovapptive’s mobile inventory management solution – mInventory – offers the right choice for your warehouse personnel and production managers to optimize and manage warehouse transfers.