Warehousing And Inventory Management
Warehouse management is the process of handling inventory and related tasks within a warehouse. Inventory management deals with managing stock for the whole business and forecasting business trends.
What Is Warehouse Management?
Warehouse management involves managing stock storage and picking and packing activities in a warehouse. The practice uses demand trends data to place the best-selling items near packing areas to expedite shipping and dictate which items to use to fill orders, such as items with the closest expiration date.
What Is Inventory Management?
Inventory management is a method for forecasting, ordering, receiving, and allocating stock. The purchasing manager will use seasonality and historical sales trends to forecast demand. Inventory includes raw materials, parts, and finished products.
When you work with a third-party logistics company, you no longer have to go it alone. Your 3rd-party logistics partner has valuable experience with inventory management. Your account rep can apply lessons learned from working with many eCommerce companies to help you manage your stock. Reach out for advice on restocking levels, supply chain management, and ideal seasonal inventory levels.