A critical area to run smoothly that can affect many other parts of your business. First, analyse current inventory control procedures and then adjust/change where necessary. For any member of your purchasing department to order efficiently, you should have clear processes in place that they can refer to. These processes should take into account any agreements or contracts between purchasers and suppliers, for example minimum orders, box or pallet quantities, lead times etc.
Provide training to your staff in these processes so they understand the importance and benefit of inventory control. Drawings will play a critical role here: document procedures for training and future use and ensure your team know how and when to access them.
Inventory turnover, is your money in your warehouse instead of the bank? Could an inventory control consultancy help you optimise your cash flow?