How to maintain stock levels up-to-date and accurate?
With an ever-changing market environment and customer demands, it is crucial for SMB food manufacturers to keep their inventory levels up-to-date and accurate. Traditional inventory management methods, such as paper records or spreadsheets, can be inefficient and prone to human error.
Food-related products and raw materials are perishable and can have short shelf lives. This further complicates inventory management, as stock levels must be monitored constantly to avoid spoilage or waste of materials. In addition, food products often have many ingredients in their bill of materials and need to maintain different product versions.
The increasing complexity of inventory management has created challenges for small to medium-sized food manufacturers. In reality, this means that inventory levels must be monitored more closely and resources devoted to keeping track of it; otherwise, food manufacturers risk a shortage of products for customers and excess inventory, which can lead to waste and higher costs.
Without an effective system in place, food manufacturers may face significant losses due to overstocking or shortage of certain products, inaccurate forecasting, and delayed shipments.
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