Contactless Stocktaking – Added value in warehouses through statistical inventory sampling

 

Trying to count stock is an activity that is often correlated with a time-consuming, non-value - added process of work on the deadline of annual reports. Why think about it now? This job will keep coming up again sooner or later, because accurate inventory control helps to better plan and plan manufacturing processes, eradicate errors , and improve the percentage of on-time deliveries to consumers.

 

Why a full inventory is no longer appropriate?

In the past , in order to deal with the burden of a complete inventory, businesses also had to hire extra employees or foreign inventory personnel to count the product in a confined room in the factory. This is no longer an choice for organisations that respect existing workplace safety policies such as touch limits. In addition, it would also involve high labour costs

What is statistical inventory sampling?

This is equivalent to the weight of a part in order to measure the weight of ten equal components by multiplication. It would have been a lot more difficult to weigh the ten components separately and sum up the results. This tried-and - tested statistical techniques for inventory sampling are also much more reliable than manual counting, where many errors can occur.

Step by step- contactless stocktaking

1.      Contactless integration in the cloud: Stock sampling systems are mostly add-on systems that build on current warehouse control systems or ERP systems. This enables them to receive all the required data through frameworks that operate either in textual format with a defined record format or as an Excel file with variable column configuration. Thanks to cloud-based special systems, on-site installation is not necessary and it can be integrated in a few minutes.

2.      Contactless project management: If you are dealing with an stock sampling system for the initial time, you will either undergo simulated instruction on its application or outsource the whole operation. In this case, the software provider receives and prepares the appropriate warehouse and stock data for assessment in such a manner that it can be utilized for stock sampling optimizations.

3.      Contactless inventory sampling: It is decided which quantitative technique is appropriate for the warehouse in consideration and which products must be counted as samples. Ideally, the counting effort should be minimised to up to 31 samples at the main date using a highly effective sequential examination.

4.       Contactless evaluation: The outcome determined by the programme can be processed in a simulated way.Once the stock has been processed precisely and safely, an acquisition cost will occur