Optimize Your Inventory up-to 50% by using latest Techniques & our Expertise 6 x 2 days 12 Hrs Rs. 15,000
1 – Your inventory coding scheme should be streamline on the basis of segregation / division of inventory items into Raw material, Work in process, Finished goods, Spare parts, Tools & General items etc.
2 – Segregation of Fixed Assets from Inventory items, which are not for selling & there depreciation on Monthly / Quarterly / Yearly basis.
3 – Inventory Items should be organized into:                                                                            – Racks / Shelves / Bins                                                                                                          – Pallets                                                                                                                                    – Scrapped Items Areas                                                                                                        – Other Areas                                                                                                                          – Vendor’s Allocated Places                                                                                                  – Vessels / Tanks
4 – Avoid duplicate items on the basis of their unit of measures, Vendor’s Description & prevailing common practice names etc.
5 – For every item there can be more than one unit of measure possible and their conversation units should be defined.
6 – Classifying Inventory items into Fast-moving, Slow-moving & Nil value items.
7 – Divide Vendor’s items grouping  into two major classes:                                                                                 – Locally purchase items                                                                                                        – Imported Items
8 – Set the Planning Standards should be maintained according to your own environment.
*       Minimum Stock Qty
*       Maximum Stock Qty
*       Shelf life / Expiry Date
*       Minimum Order Qty
*       Maximum Order Qty
*       Order Multiple
*       Purchased Lead time
*       Manufacturing Lead time
9 – Physical Stock taking exercises of Fast-moving, Slow-moving & Nil value items on Daily, Weekly & Monthly basis depending on your working environment and adjust the shortage / excessive quantities.
10 – Material Requirement Planning of Inventory Items on the basis of all the above parameters and make the futuristic planed orders for Local & Imported Items against their current balances.