Fresh food inventory management appears to be simple from a distance. After all, you just need to restock your products when you are running low. However, fresh food poses various challenges like varying freshness ranges, traceability demands and sustainability initiatives. These challenges make the matter more complicated. These challenges along with a dynamic and uncertain market become too much for an individual staff to handle.
The job of maintaining and keeping tabs on all levels in the supply chain is left to a specialized produce ERP software, created to ease your fresh food inventory management
Here we will delve into three reasons why effective inventory management is critical for fresh food and three advanced ERP tools that can improve your approach to better manage the fresh produce, to achieve better results.
Importance of Inventory Management for Fresh Produce:
At its core, inventory management is about having reliably accurate stock level figures and restocking as the need arises. However, in actual practice, it is more than mere numbers. Efforts on inventory management have a positive impact on other aspects of the organization as well.
Effective inventory management is important for the following reasons:
● Food Traceability and Safety
Regulatory bodies such as the Food Safety and Inspection Service (FSIS) as well as the consumers are demanding total traceability of foods and beverages. Therefore, you need to maintain a visible supply chain that shows the journey of your product from start to end.
Updating vital product data at every point of the supply chain is important to keep your records complete. Automating this process with the help of an ERP tool would ensure capturing of every detail along the supply chains.
Traceability also plays a role in promoting food safety. You can trace the journey of the food to ensure that it is safe from any contamination. In case of any discrepancy, traceability gives you the relevant knowledge to act quickly to resolve the problems.
● Minimizing Waste
Fresh food is perishable. By managing fresh food inventory efficiently, you will get your produce to the market before they can go bad. Doing this will save you money and your efforts won't go to waste. Cutting down on losses from bad produce will increase the profit margins and the reputability of the company.
How ERP Platforms Improve Businesses?
The inventory management modules of advanced ERP software can greatly simplify and streamline your operations. The following tools allow you to always ensure the top quality of your fresh products:
● Advanced Demand Forecasting
By analyzing the past sales data, seasonal information and general market trends, ERP software can predict the demand for certain fresh food products. This will allow your business to take the necessary measures to meet the demands of the market.
● Automatic Replenishment
With advanced software, you can input a threshold at which you want automatic reorders issued. So, when your stock gets below the threshold level, the software would know to issue a reorder with a suitable supplier.
● Integrating Devices
For accuracy and efficiency, automating and streamlining the process of data collection and maintenance is integral. An automated process cuts down on the time taken as well as the costs incurred on the process.
Whether your business has a few supply lines or a network of complex supply chains, a good inventory management system will play a significant role in the success of your business.
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