Cyclical inventory: keep a grip on reusable packaging | PackControl
Proper stock management is important: it gives you an up-to-date insight into the financial status of your business and lets you keep a grip on costs to ensure a healthy cash flow. Too often, reusable packaging makes it complicated. For how do you keep control over so many (pooling) transport items that are always on the move? There is a solution.
For accounting purposes, you used to take inventory once a year. That made it almost impossible to find out what exactly caused differences. Theft, incomplete deliveries or simply the disposal of damaged items could no longer be traced.
Nowadays, maintaining an ongoing insight in stocks through cyclical inventory is more common. Stocks are checked using inventory management software and manual counting is done upon receipt or dispatch.
Stocks of reusable packaging continue to be the exception to this rule. It is hard to keep a grip on all pallets, folding crates, containers, carts and trolleys that continuously come in and go out. The circulation speed is high, the grip on items too low, even though the value of the items is often enormous. At some companies, revenues pale compared to the value of the circulating reusable transport items.
At some companies, revenues pale in comparison with the value of the circulating reusable packaging. More grip means less cost.
The newest packaging software solutions let you plan every transfer of every single reusable packaging item. You can arrange exactly when how much is in stock of which items and can meticulously calculate costs and deposits. It gives you much more control. In a time of sharp price increases this can make a big difference for your company’s cash flow.
By directly matching received and dispatched items with customers, suppliers, pooling companies or auction houses you keep a grip on your stocks. You no longer have to estimate what is in the warehouse and no longer depend on annual inventories. Invoices can be signed off based on correct information and planning can be much more accurate, as you automatically get a better insight in actual quantities and (seasonal) fluctuations.
Complete registration also helps damage settlement. The quicker you settle claims, the easier. You know which shipment suffered the damage and who is responsible. This saves a lot of time in the settlement process and you avoid your company bearing the costs.
See for yourself how you too can make your packaging registration quicker and more complete. Let us show you how PackControl helps you reduce packaging costs and do business in a truly sustainable way. Schedule an appointment now for a free demo.