In today’s challenging buying environment you need to understand what your customers needs are and make smart decisions on how to manage them through your inventory. You also need a consistent and complete view into your supply chain to allow for proper business growth based on these customer demands. Companies worldwide are challenged with finding the best way to manage inventory at the most efficient and profitable way. But why, in this digital age, are customers faced with what seems like rudimentary IT challenges?

Inventory Management is a lot more complex than it may seem to most. Let’s look at some of the biggest challenges distribution centers face when it comes to inventory management:

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Lot tracking allows product to be tracked end-to -end, from manufacturer to customer, and any activity or process in between. If your company is unable to track lots, and there is a recall from the manufacturer, it can cost your company immensely.

If you are in an industry that requires you to track product lot numbers, you need to have a robust lot tracking system that will track lot numbers wherever they go. If, for example, you are in the fastener industry, you will need to track a lot number even if it becomes part of a kit, goes to a plating process and becomes a different part number, or if it gets moved to a different warehouse. Lot tracking should be easily accessible if you need to track down the history or activity of a particular lot it should always be traceable, even if the part becomes part of something else.

[Read more…] about Lot Tracking That Is Everything That You Need It To Be