What is Phantom Inventory? Phantom inventory is a common issue in inventory management, where there’s a mismatch between the recorded inventory and the actual physical stock. The average U.S. retail operation has an inventory accuracy of only 63 percent. These discrepancies can stem from various sources, including data entry errors, or flaws in inventory […]
Unit and lot code systems (UALS) provide a clear, organized approach to managing and tracking inventory at all levels- from pallets to individual items and parts. UALS streamlines inventory counts, simplifies tracking, and improves inventory traceability, allowing warehouse teams to manage stock with precision. What is a Unit and Lot Code System? Unit and […]
Thinking about expanding your business? Multi-location fulfillment is a solution for scaling up your business as your customer orders grow. Incorporating multiple fulfillment centers increases your storage capacity and bridges the gap between products and customers, enhancing the overall shopping experience. However, managing multiple locations can become a logistical nightmare. You need to juggle questions […]
Efficient warehouse management is the backbone of a successful supply chain. Two essential components, unit types and lot codes, have revolutionized the way warehouses handle inventory tracking. Unit types represent standardized containers for packaging inventory, while lot codes provide crucial information about a product’s origin, processing, and manufacturing batch. Together, these systems ensure accurate inventory […]
