One of the greatest challenges in business is operating with the proper stock levels. Too many parts or products equates to additional costs and taxes. Lose track of your stocking levels, and your customers ultimately suffer.
Many businesses are turning to Vendor Managed Inventory or VMI. A mixture of hardware and software creates inventory control that’s nearly perfected. The latest gadgets that enhance your inventory are Smart Bins. Get familiar with these tools because they’ll probably be commonplace in your facility in no time.
The Deceptive Bin Outlook
Balancing your supply with demand is a constant struggle, states The Balance. You have neat and tidy bins that are easily accessed when parts needs arise. They can be deceptive, however, because of several reasons:
- Bin walls hide inventory levels
- Parts may be in wrong bins
Smart Bins offer solutions to these dilemmas. You know when the levels drop down too low or if a particular part ended up in the wrong bin. Resolving these issues can be cost effective for nearly any industry.
How the System Operates
Most inventory managers see their bins as static holders for continuously moving parts. With Smart Bin technology however, the containers become active members of your warehouse.
These features define Smart Bins, such as:
- Actively detecting inventory levels
- Reporting minimum levels to supervisors
- Visibility into the bins by way of angled fixtures
Set the bin levels to certain quantities. Allow the system to notify you when that minimum occurs. There’s no need to allocate employees for this time-consuming task. Your company saves countless hours with automatic counts.
A Touch of the Fingertips
Smart Bins connect into a software program that’s virtually ran on any device. As long as you have an Internet connection, you can log into your inventory with ease. In a glance, see these details about your inventory, such as:
- Last sales dates
- Current levels
- Outstanding orders for stocking purposes
Every inventory manager dreams of a system where you don’t require manual counts on a regular basis. The bin system does this work for you.
Customized For Any Industry
Every industry has unique parts. They might be as small as a washer or large enough to cover part of a vehicle. Regardless of your business’s industry, Smart Bins will serve your needs. Each bin can be either single- or double-wide in size. Mix up the sizes for those eclectic collections of parts.
The bin width gives you a better grip on parts as you pull them out. Oversize items don’t always move with ease from a single-wide bin. By diversifying your bin sizes, your staff can always move the parts without harming the items or injuring their hands.
Getting Intimate With Your Production Flow
Understanding how your parts move within a given facility tells a story. You know when busy periods peak or bottom out, for example. Use this data to anticipate stocking orders. In the past, these patterns required manual analysis. With mistakes added into this process, your inventory wasn’t nearly as accurate as it could be today.
Helping Out Your Supplier
According to North Carolina State University, Smart Bins and associated technology improve your relationship with suppliers too. Panicked calls to suppliers when parts are out of stock on your end may be too numerous to count each quarter. This practice changes because of several features, including:
- VMI software transmits low-stock numbers to supplier
- Supplier learns of patterns presented by your industry
- Proper supplies ship out well before you reach critical levels
As suppliers and businesses remain on the same page, parts levels become easier to control. Production and sales flow will continue to hum without any interruptions at those critical endpoints.
Many companies, including Motion & Flow Control Products, Inc., offer VMI standards. Discussing your supply-and-demand chain with the professionals is the best start to a more refined, inventory flow. Watch your production line expand with few hiccups in the part-and-product sectors.