THE inventory management encompasses an administration focused on storage, maintenance and accounting marketed products or raw materials of a company. The method includes all the operational part related to picking and receiving orders, strategic planning for better use of merchandise and encouraging new business opportunities. It is clear that cooperation, technology and sector integration are the essential triad for promising businesses. And, when it comes to integration between management in stock and innovation—represented here by the RFID system—there is no better recipe for success.
Intelligent inventory management
As mentioned, inventory management is the performance of administrative activities focused on the storage, maintenance and accounting of commercialized products or raw materials of a company. This method includes all the operational part related to picking and receiving orders, strategic planning for a better use of merchandise and also encouraging new promising business opportunities.
have a good asset and inventory management It is fundamental for the financial health of any company, mainly because unused assets and products left over on the shelf represent inefficiency in the use of resources and financial waste. In the case of stock, as every storage space has its own physical limitations, the allocation of each material in stock must take place as productively as possible.
At the same time, the stock must be stocked according to typical movements in demand for the services provided or products sold by the company. In low-utilization months, there is no reason to disproportionately increase inventory. Implementing follow-up strategies in shorter periods of time also facilitates precisely in the sense of drawing an overview of which months, or which periods of a month, have the greatest outputs of products.
Another key point to achieve efficient inventory management is the maximization of results through automated processes. Systems that drive the accounting of asset entries and write-offs, for example, are an excellent financial investment to streamline administrative routines. You can then determine in how much and for what period the stock should be stocked. Pay attention to seasonal demands or those that follow specific dates — such as holidays — and plan your purchases. Also standardize suppliers, which can help you to contract services at more competitive prices.
RFID and Inventory Management
Do you know the “beep” that sounds when an item is registered by the supermarket checkout? It is an optical reader, responsible for processing the barcode and signaling which object is being purchased. It is not a subject shared in casual conversations, and not even dominated by many companies, but this technology is heading towards obsolescence, because there is already a newer system on the market.
He is known as RFID tag (Radio-Frequency IDentification. In Portuguese, Radio Frequency Identification). The radio frequency identification network consists of an antenna, a transceiver — a device that decodes the signal and transmits data to the reader — and, finally, a transponder. It contains the circuit and the information to be transported.
How the RFID tag works
The system works sequentially as follows:
- The antenna transmits information by emitting the signal produced by the circuit;
- The data then arrives at the reader device, where it is converted into radio waves;
- Finally, the material is analyzed by computers and data scientists.
In the specific case of cash registers, they would be replaced by RFID technology right outside supermarkets. Automatic sensors can detect and read product labels via short-range communication, without the need for manual labor.
But the radio frequency identification system is used in other various activities and corporate sectors. In other words, it is a system that can, and should, be appropriate for better stock management. As a great example, tags to be affixed to all company assets can help with accounting and product management, eliminating the need for time-consuming periodic balances that require manual labor.
This way, products can be located in real time! Theft of payloads and security issues would be much more easily resolved and the probability of the network failing to manage the products is very low. It is never wasted time to remember the weight and meaning of these problems. RFID is, above all, synonymous with lower costs and doubled efficiency for your company.
Benefits of Intelligent Inventory Management
Thinking more in the long term, the possible dialogue between both sectors — technology and management — provides a better use of the company's productive capacities. Still, if there are any doubts about how new solutions can improve efficiency, then lowering costs is reason enough in itself. In this sense, the execution of the points listed in the program may come to emphasize the impact of inventory management and the RFID system in decision-making agility. We increasingly realize that the adoption of technology helps to streamline the use of human and material resources.
What should always be kept in mind is that the structural model advocated here can restructure paradigms consolidated in the administrative environment. It is emphatic that the revolution in customs and corporate routines represents an opening for the improvement of future development guidelines. Cooperation, technology and industry integration are the essential triad for promising businesses.
There are different types of companies. Those that convince the customer to go where he could never imagine going; others that take advantage of old and abandoned strategies over time, but still functional; companies that respond to the call of their customers; companies that transform their products or technologies into universal desire and, finally, those companies that take you where you would never imagine wanting to go.
The largest company in the field of Asset Management and Assessment in the country is CPCON. Intelligent inventory management — and the use of the RFID system to make better use of installed capacities — is at the heart of all projects and long-term perspectives. It is a result that responds to the integrated solution and innovation strategy, not least because the company holds the largest project certificates and the largest number of items ever carried out in a single inventory, not only in Brazil, but in the world.
Progress, maximizing results, asset Management and cost savings are part of the recipe for success. After all, companies that do not develop good strategies for permanence and leverage in the market are doomed to obsolete. As entrepreneur Bill Gates said, the only big companies that have achieved success are those that have considered their products in the stock obsolete, before anyone else could.