3 Ways Inventory Management Delivers Savings

Author: Paul Henriques in: Business Solutions

3 Ways Inventory Management Delivers Savings

March 9, 2023

Your business is doing well. Your orders are going out the door, mostly on time. Your supplies are usually where you have them when you need them. It seems like on occasion the part or supply you need and you are sure was in stock is gone. Or maybe it’s ruined. Either way, you’ve tried to implement a great many changes to help keep track.

But no matter what changes you make, it still seems like you are spending hours every week looking for parts, material, or tools. Perhaps it is growing pains. By having a growing shop with so many workers, if you don’t have an easy way to place or return things to their designated spot, it becomes very easy for important items to go missing.

Let’s look at the problem from a different point of view. Misplaced items cost:

  • Time spent searching for the item
  • Time and money spent purchasing a replacement if the item isn’t found
  • Warehouse space for duplicate items if a new item is purchased and the original found later

In other words, losing supplies and losing time looking for supplies will hurt your competitive edge. What you need is a better inventory system.

Better Inventory Management

At OnRamp, we have a way to standardize the location of things in a shop-wide policy that new hires are trained on and older employees regularly review.

This is OnRamp’s Inventory Management system. By implementing a standard location system for your plant, and inputting that location in OnRamp, your shop can become more efficient by having:

  • Warehouse workers know where to place inventory and scrap
  • Maintenance workers know where to find spare parts
  • Operators know where to find their work centers
  • Managers know where to find everything

This will decrease time wasted searching for items and money spent buying what you didn’t know you already have. Or course, having a location system is only useful If you have a way to track locations. While this may seem like a long and difficult process, it’s all very easy with the OnRamp Inventory module.

OnRamp’s Inventory Module Features:

  • Integrated inventory location and mapping
  • Unified location system that can be applied to all your locations
  • Lot tracing from shipment to heat numbers
  • Custom label printing
  • Integrated process/control cycle counting

Added to all this is the OnRamp App, which is designed to be used on smartphones and scanners to track picklists and inventory with real-time updates being sent back to the servers so that you know what, where, when, and how long it takes to get anything and everything. This is a piece of technology with immeasurable benefits. The OnRamp app and scanners has cut expenses and waste in all parts of the warehouse. For example:

  • By showing the location for your inventory, you can ship and receive parts faster
  • With more accurate inventory counts, purchasing is more efficient
  • Receive new picklists on the app, so operators don’t have to go to a hub to get their orders
  • Clearly defined warehouse locations with the inventory location on the part picklist mean even a rookie can quickly find what they need with minimal training
  • Management doesn’t have to spend as much time with inventory reviews

Conclusion

OnRamp ERP is constantly expanding its list of features in Inventory Management and other areas. Through our partnerships, we are constantly implementing new features to help improve the daily operations and lives of our clients, their clients, and their staff.

Inventory Management Saving Graph

After implementing OnRamp, our customers saw:

  1. Improved warehouse usage efficiency rates
  2. Decreases in time spent searching for inventory
  3. Improved inventory usage rates

This is just the easy to find numbers. If you include the unseen benefits, like a decrease in costs and an increase in on-time deliveries, what you get is improved customer satisfaction and, most importantly, growth.

Contact us today to talk to an expert on how we can help you improve your warehouse management, decrease your warehouse operator response time, and improve your bottom line.

 

Agree/ Disagree? Tell us what you think below!

Author

  • Paul Henriques

    Paul Henriques is the current Manager for the Documentation and Training team at OnRamp Solutions Inc. Paul has over 15 years of experience in writing training material and documentation for various software companies. Having had to learn OnRamp ERP to better document it’s features and write training material; Paul is constantly stunned by the amount of thought that goes into each feature and the capabilities that are within the program, with features for all the various business units of a manufactory. Paul spends most of his free time keeping up to date on all the latest news and best practices for the manufacturing sector. Paul’s favorite manufacturing quote: “There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.” – Henry Ford

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