What do you do if your inventory management system isn't giving you the results you need?

Implement Key Performance Indicators (KPIs) that will help you track whether you are meeting the performance levels that optimize your inventory management. For example, you can choose to track your fill rate and inventory movement. That way you can track the number of orders, stock coming in and stock going out to fulfill these orders. Once you’ve decided on your indicators, it becomes easier for you to track metrics that show you whether your inventory management is performing as you would like it to. Utilize inventory tools with automation capabilities to optimize your operations, saving time, money, and resources. Workers can receive instant updates, and simultaneous data access—kind of like a simultaneous ring.

If your inventory management system isn't delivering desired results, identify shortcomings, consider system upgrades or enhancements, engage with IT or vendors for support, train staff, implement best practices, and monitor for ongoing improvement.

If the inventory management system falls short, reassess system functionality, user training, and data accuracy. Seek user feedback and identify pain points for improvement. Consider upgrading to a more robust system or integrating additional features to address specific needs. Conduct thorough testing and training to ensure effective implementation. Collaborate with IT support or external vendors for troubleshooting and customization. Continuously monitor performance and adjust strategies accordingly for optimal results.

1. Identify Performance Gaps: Analyze key metrics like inventory turnover ratio, stock accuracy, and order fulfillment times. Are you experiencing stockouts frequently? Is there a significant amount of excess inventory? 2. Traceability Analysis: Track inventory movement through your system. Identify bottlenecks or inefficiencies that might be causing delays or discrepancies. 3. User Feedback: Gather feedback from your inventory management team. What challenges do they face when using the system? Are there features they find cumbersome or unhelpful?

Work with your current system provider or a third-party developer to explore options for system upgrades or customization to address specific needs. Prioritize enhancements such as workflow automation, customization of reporting and analytics, or integration with other business systems. Ensure adequate training and support for users to maximize the benefits of system upgrades and drive adoption.

In community pharmacy setting, there should be a process in place to ensure accuracy while maintaining inventory & while dispensing meds. One challenge that many staff brings up about this topic is, " it's too busy" or " we don't have enough staff." Let's get together/rid errors. All staff should be trained on accuracy, & that value should be stemming from the top, "in charge" people, so every team member learns & works with the same high value(s). If we all have the same value of wanting accuracy in all aspects of dispensing Rx's/maintaining inventory, we can be together & have the "focus-on-accuracy" process implemented in all pharmacies. It will help our patients/create a healthy work environment. Humans are in charge of software.

Updating process is very important, if we will go to the dead stock problem , it is not the matter of your ERP system it is the organization process, we have to produce a flowchart for dead stock treatment , such as define the dead stock such as any item will lay in the warehouse for 5 years without any transaction and it is not an insurance item The company have to arrange for a showroom in the warehouse for department may some item will be used internally The inventory management staff have to convert all dead stock items to be Un-purchased items And to inform financial managers and procurement to start their process to sell it even as a lot

1. Inventory Management Software (IMS) Upgrade: Consider upgrading your current IMS to a more robust system with advanced features. This might include functionalities like real-time inventory tracking, barcode scanning, or integration with your e-commerce platform. 2. Warehouse Management Systems (WMS): For businesses with high-volume operations, explore implementing a WMS. This can automate tasks like picking, packing, and shipping, leading to increased efficiency and reduced errors. 3. Data Analytics Tools: Utilize data analytics tools to gain insights into inventory trends, identify slow-moving items, and optimize forecasting models.

In community pharmacy setting, updated technology is important to help with work flow, efficiency, & managing inventory. At the same time,humans are in charge of accuracy while using and maintaining technology. Technology is great, but if humans don't use it correctly or enter in wrong info, it can actually make medication dispensing processes & inventory management processes worse. If not used correctly, it can actually increase medication errors and inventory errors. It is crucial to have staff trained from the beginning to focus on accuracy, and when the entire team works with the Accuracy value, efficiency will truly increase. There should be enough /reliable staff. The ones "in charge" need to have high values to make it happen.❤️

ERP systems such as oracle or Sap or any other program to start automate your process for tracking and issue orders In our organization we are managing common items in MRO my the Min-Max module which is suggest for you a purchase request for many items in groups which is a result of monitoring demand and consumption and supply

Data in terms of Quality is most important input to make an analysis which will be useful to take important decisions If quality is best, decisions can be more effective

In community pharmacy, Data Quality is so important. Who is using the technology? Who is entering the data? Who is routinely maintaining shelves/fridge medication inventory? There should be processes in place to ensure accuracy. There should also be enough/reliable staff working in the pharmacy, so we can work together and help manage inventory together / rid medication errors at the same time in all pharmacies. When the "in charge" people on the "very top" have high values of accuracy and true care/compassion, then it will be a norm to ensure 100% accuracy while dispensing Rx's and while managing inventory. Love and Peace 💗💗

This problem may occur when your items configuration allows duplications in the same items in many codes, you have to make a strong system for codification which have a specific attributes for each item group to prevent item duplications by different descriptions You have to standardize your abbreviations for your organization

1. Performance Monitoring: Regularly monitor key inventory management metrics to track progress and identify areas that require further improvement. 2. Team Feedback: Encourage your inventory management team to continuously provide feedback on the system and suggest potential improvements. 3. Embrace New Technologies: Stay updated on the latest inventory management technologies and best practices. Be open to implementing innovative solutions that can further optimize your system.

Já teve situações no meu cotidiano que para obter uma melhor estratégia na eliminação dos riscos em que os trabalhadores estão expostos, foi necessário fazer um inventário detalhado dos riscos e seus efeitos quanto a exposição de determinado trabalhador/ função e com base nisso gerar um plano de ação na busca da melhoria continua a saúde e segurança do colaborador.

Engage consultants for fresh insights and tailored solutions eg, a retail chain struggling with stockouts sought expert advice, leading to optimized inventory levels. Collaborate with vendors for training and support. An e-commerce business improved efficiency by leveraging vendor expertise to enhance their inventory system. Adopt industry best practices for efficient inventory management. Regularly assess system performance to identify gaps. A company identified inefficiencies in their system through performance analysis, leading to streamlined operations. Embrace a culture of continuous improvement. A tech startup achieved success by constantly refining their inventory management processes based on feedback and data analysis.

Uma forma de encontrar solução para otimização de processos é fazer um benchmarking de empresas que já estão consolidadas no mercado e procurar aplicar dentro da organização.

First, pinpoint the specific issues you're facing. Are stock levels inaccurate? Is forecasting off? Are orders delayed or fulfillment slow? Understanding the exact problem areas will guide your next steps an effective inventory management system should be a dynamic tool, adapting to your business's changing needs, you can identify problem areas, optimize your current system, or explore new solutions to achieve the desired results and gain better control over your inventory