Fleet Management & Forklift Safety Blog

Why Improved Warehouse Inventory Tracking is Worth the Investment

Posted by Neil O'Connell, SVP Technology, Innovation, & Product Development on Oct 30, 2018 4:00:00 AM

An operation that relies on dated methods or, even worse, the memory of workers to locate and protect inventory is wasting time and money. In consumable product industries, like pharmaceuticals or food, these deficiencies can also be putting customers at risk.  needle-in-a-haystack-1752846_640

But the Internet of Things (IoT), combined with the latest monitoring technology, can facilitate full transparency of product movement and location, protecting your enterprise from liability for damaged product and reducing the time spent searching for misplaced inventory.

Consider the example of a food industry warehouse, which may have temperature-sensitive products. Food products must be tested and monitored along the supply chain journey to ensure that they remain safe for consumers. These warehouses need real-time telematic monitoring and locationing technology to track the movement of product throughout the facility and identify any risk to product integrity.

They must be certain that a cold-chain item is processed properly, swiftly, and never left sitting idle or misplaced outside of a refrigerated environment.

A similar challenge is faced by pharmaceutical warehouses. Like the food industry, the pharmaceutical industry requires monitoring devices that test temperature and environmental conditions and identify the exact location of each product as it moves through the supply chain. Track and trace is crucial for these and other industries to ensure the environmental conditions required for consumer safety remain in place.

Total connectivity with telematic inventory tracking

If you spend time chasing inventory, the productivity of your operation suffers. Telematic location capabilities solve this issue, identifying forklift and product location down to the square inch and reducing time lost searching for misplaced inventory. An article in Entrepreneur.com noted that companies realize a profitability increase of 20 to 50 percent after implementing an advanced inventory-tracking system.  

Meticulous monitoring and recording every step of the material-handling process is vital to saving an enterprise money and time. But it also protects a business by ensuring regulatory compliance.

For example, the pharmaceutical industry is required by the FDA's Drug Supply Chain Security Act (DSCSA) to electronically identify and trace specific drugs as they move through their supply chain. Telematic connectivity provides a solution for these industries and others, offering insight and control of product movement while ensuring transparency because it:

  1. Works with existing and new product installation systems seamlessly, offering software and hardware designed for specific needs of the material handling industry 
  2. Offers flexible and expandable enhanced data management, reporting, and analysis tools
  3. Delivers real-time monitoring, tracking each operator, forklift, and product down to the square inch — even while in motion
  4. Facilitates improved driver behavior and accountability and requires automated OSHA checklists
  5. Includes cloud hosting services, combined with a cellular connectivity option for faster deployment without IT approval for Wi-Fi network access

Real-time inventory tracking is a challenge for many enterprises today. One solution is a telematics platform that delivers meticulous documentation and locationing to meet transparency requirements and reduce the cost of misplaced or mishandled inventory.  

Topics: waste stream reduction, transparency, pharmaceutical supply chain, value driven strategies, Lean warehousing, routing, warehousing industry incidents & violations, loss avoidance, telematic diagnostics, CommandPulseDX, warehouse management system

Read More