Real-Time Inventory Tracking allows a company to determine their current inventory levels, and conversely, the amount of product they currently have on hand. By tracking product levels at any given moment throughout a supply chain, logistics professional is able to not only make product-specific decisions about where to place orders in the most productive possible manner, but also helps to make more economical decisions that can save a logistics professional time and money. Real-Time Inventory Tracking is a subset of Logistics Management, which is a subset of Supply Chain Management. A great deal of companies don’t realize that there are many different sub-groupings within Supply Chain Management, and only when one sub-group is brought to light – Real-Time Inventory Tracking – will the full benefits of this management concept to be fully realized.If you’re interested navigate to this website
One of the many benefits of Real-Time Inventory Tracking is that it increases the amount of time that the logistics professional, or any other business for that matter, can spend on the front lines of their organization. If you’ve ever spent any time inspecting a warehouse, or on the floor of a manufacturing facility, you may have noticed that the shelf-lives of many products can literally be measured in minutes. Real-Time Inventory Tracking allows a logistics professional to get very precise readouts on all of the products that are in their possession. In many cases, once the product is out on the shelf, the real-time inventory tracking software is programmed to shut down as soon as a product leaves the warehouse or factory floor. Because of this, if there are issues with a product before it even reaches its destination, the sooner that it is detected, the better chance it has of being resolved before a product leaves the warehouse or factory floor.
Real-Time Inventory Tracking is not only important for operational efficiency but also for reducing costs associated with warehousing and distribution. With a real-time inventory management system, a logistics professional can monitor the flow of inventory from one point in the supply chain to another, allowing him to implement corrective measures as necessary. With these types of supply chain operations, and the ability to monitor the performance of your entire supply chain, a logistics professional can make critical decisions as to the strategic direction in which your company’s resources are best invested. For smaller companies without full-time in-house logistics personnel, or for organizations that rely heavily on short lead times to meet their delivery goals, an integrated real-time inventory tracking system can provide the kind of up-to-date inventory data that can make the difference between success and failure.