Lot or Batch tracking is an important aspect of warehouse tracking system. A ‘lot’ is nothing but a batch of items that has been produced, stored, or shipped along the entire supply chain. Lot and expiration tracking is an integral component of any business that deals with perishable or potentially harmful products. The inability to track items down the supply chain can break a company when faced with a product recall. A system that tracks lot and expiration can help your business to minimize financial and reputational losses with the clients. Industries like food and beverages, production, pharmacy, etc. are highly sophisticated with respect to a production batch and their expiration to track and maintain stocks under inventory.
Suppose you have purchased an item from multiple vendors; by understanding the fact that production time of a given item will be different against different lots. So recalling a lot or batch to handle offensive situations makes it easy to determine the affected lots against a specific production cycle. However recalling a lot can sometimes be incredibly complex in a highly matrixed supply chain environment, here an efficient inventory management system becomes your need
Goods Order Inventory with an ability to organize and track your products by their expiration dates, your control on your inventory levels and in reducing spoilage will be optimal thereby increasing business profitability and efficiency. GOIS expiration tracking helps you differentiate your stock entries by lots and batches boosting your stock keeping capability.
Moreover if you’re current system allows you to maintain lot, it’s important to understand how efficient your tracking capability is, across multi location and multi user environment.
Goods Order Inventory; a cloud based warehouse management system is integrated with lot/batch control feature which gives a dramatic impact on your business’s ability in tracking inventory spoilages and responding to issues by recalling the correct batches and lots from your inventory. System also centralizes your supply chain process and gives more visibility to a product to be traced out end-to-end, from manufacturing through supply to end customers.
GOIS’s workflow allows you to keep a track of all the customers who received specific lot with complete date-time and delivery information. A given lot# or batch# can be assigned to 1-N units of an item that are produced by specific date, and can also be tagged with an expiration date to make it more prominent.
GOIS’s batch capability helps you to distinguish product batches from their specification like size, color, pattern, etc. Also keep a track of exact location with bin information to take situation under control across large or multi-warehouse environment.
GOIS’s customizable reports helps you to get alerts on items that are about to expire or have been expired in stock to maintain the spoilage. Further to be more flexible and to have a tighter rein on your stock levels, warehouse managers can generate product movement reports to facilitate batch recalls when necessary.
Ultimately, by utilizing GOIS comprehensive warehouse management system, you will get reduce costs, instant field of vision, streamlined operations, and increase throughput with full control on your production batch and purchased lot to beat the deadline without putting much efforts. Now crush the situation immediately by getting off the specific items from shelves as quickly as possible.
If using your current methodology doesn’t gives you robust lot and expiration control flexibility, it’s the time to move to a cloud-based WMS ‘Goods Order Inventory’.
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