Keeping tight control over products which will eventually expire can be a struggle for a lot of companies, particularly those trading in food, drink or pharmaceuticals on a regular basis. Businesses will often put measures in place that ensure stock levels are closely matched to expected demands and goods that are due to expire first take precedence when fulfilling orders. In other instances when goods are coming to the end of their shelf life without being sold, businesses will often reduce sale prices in order cover costs and avoid losses. However even with these strict measures in place, these products can still expire before being sold and the cost incurred directly impacts profits.
Although a business may have optimised stock levels, ensuring for example that an item with an average shelf life of 10 weeks is stocked based on volumes required to meet 4 weeks sales demand, if new stock is accepted with only 2 weeks shelf life left on it then wastage is almost guaranteed. When dealing with expiry dated products often a key course of action is to place controls at the point of goods receipt, allowing staff to easily highlight products received that fall short of required shelf life. By only permitting products with a reasonable shelf life into stock, businesses provide themselves with ample opportunity to sell these goods at a price that enables maximum profitability to be achieved and provides a high quality product to customers.
New functionality has been added to OrderWise in version 9.11 to provide businesses with enhanced control over products carrying an expiry date. Users can set what the minimum accepted shelf life is for each item, then when booking in stock of this item, either within the main OrderWise system or on a Mobile WMS Device, if the expiry date entered is below the minimum acceptable shelf life, a warning message will be displayed. The user then has the option to reject the goods or continue to book the items into stock.
With the addition of this new feature combined with existing stock level and stock usage functionality , OrderWise users are provided with tighter control over products carrying an expiry date, allowing businesses to easily set a minimum acceptable level of shelf life to ensure that losses from products starting to perish is kept well reduced and goods are sold at a profitable price.
For more information on OrderWise including Stock Control, Goods In and Mobile Warehouse Management Devices, download our brochure and watch the videos.
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