Companies can lose a lot of money by letting perishable inventory expire or go bad. Unfortunately, it can be hard for manufacturers, importers and retailers to keep track of all of their inventory and determine what items need to be put out first to minimize those losses. Learning more about what perishable inventory is, why it should be tracked and how to track it can help your business. Here is more information about perishable inventory.
What is Perishable Inventory?
Perishable inventory is inventory that can go bad. When people hear the term perishable inventory, they often think of food. However, food is not the only type of perishable inventory. Make-up and cosmetics can go bad if they sit on the shelf for too long. Electronics can become dated and worth less if they sit too long and don't get sold before newer models come out. And clothes can also be looked at as perishable inventory, as you want to get them out and sold in the appropriate season.
What Are the Benefits of Tracking Perishable Inventory?
Tracking perishable inventory is extremely important. You want to ensure that you track your
perishable inventory so you are able to put out items that are going to expire or need to be sold first, before you put out newer items or items that may not need to be sold right away. Unfortunately though, as a manufacturer or retailer, you are working with thousands and thousands of products. Tracking allows you to keep track of when inventory is manufactured and received, and when it expires or needs to be sold by, so you can pull and sell or ship the oldest items first. Tracking your perishable inventory also comes in handy when deciding what to order and in what quantities. You can look back to see the number of units ordered and how many went bad before they were sold, helping you to more accurately order what you need without over-ordering.
How Can You Track Perishable Inventory?
There are many ways that companies track perishable inventory. Some companies simply mark boxes or pallets with the expiration date and then look at that date when deciding what to ship off or stock the shelves with. Other companies use software. Software typically involves using barcodes to track what is in a box or pallet and when it expires. When you need to restock your shelves or send inventory out, you can pull up the software, see which items are the oldest, and then use those items to ship our or replenish your stock. Computer software helps to ensure you do not overlook inventory, and you are able to appropriately move inventory to decrease or prevent losses due to perishable inventory expiring.
Tracking perishable software can help your business minimize losses that occur when inventory goes bad before it gets distributed or sold. Here at Fresh/Byte Software, we make software that can help you with all of your inventory tracking needs, including perishable inventory tracking tools. Contact us today to learn more about our software and how it can work for your business.
