Labels make everything look organised as well as makes the process of locating things easier. Labeling especially becomes essential when there are a large number of products spread over large spaces. For example- in a warehouse, store room and also at a few retail/wholesale shops like pharmacies.
The productivity of such places highly depends on the level of efficiency at which the products are located. Would you ever re-visit a pharmacy that wastes a lot of time looking for medicines? Nobody likes to wait, especially when there are alternatives available.
Rack/bin wise management in Tally, allows you to locate an item in your warehouse/ godown. This saves your time and ensures you get to know the availability of stock within seconds. In storage places like warehouses and godowns, stock is stored across thousands of racks and /or bins.
Following is an overview of the importance and good practices during operations at godowns and warehouses or any place containing racks and bins.
Importance of rack/bin wise stock management
Every walk-in shop has a label for every rack. This is mainly for the customers to have a good experience. They can find most products without frustration. But imagine walking into a store consisting of hundreds of racks with no labels at all and zero organisation. The customer will get frustrated and might walk out of the store disappointed.
This is from a customer’s point of view. Now think about a warehouse with workers trying to locate different types of stock from among a variety of goods. This can especially be difficult if there are no labels on each rack. Other than labeling, stocks may look similar and may require detailed labeling and thus a software that can actually show you the exact location of a particular stock is required.
Tally along with Rack/bin wise stock management, will help you in solving this issue very efficiently. This reduces the overall time spent by workers in locating the stock and improves operational efficiency.
Mapping and Categorizing your Warehouse/Godown
Like every other task, planning and strategising is a must before implementation. You must have a plan about which stock will be placed where and why it should be placed at a certain place. This reasoning is a must as in the long run it benefits you as it helps in further expansion and also makes retrieving stocks easier.
You must first segment your warehouse depending upon the type and number of stocks you will store at a time in your warehouse. This segmentation could be a zone segmentation (a group of similar stock can be placed here), aisle segmentation (the name of the aisle should be put up for ex- plumbing essentials),rack/bay/bin labeling, etc.
Decide on a scheme for labelling racks/bins
You must finalise what type of naming scheme you want to use to label the rack/bins. This scheme can be numerals, words, codes, or even barcodes. This is important as Tally will need to enter that specific scheme to locate the stock. Tally will prompt exactly how much stock you have and exactly where in your warehouse it is stored.
Rack/bin wise stock management is not a new concept and labeling of racks, bins, aisles, etc. is a common practice today. Moving a step forward is to have Tally software locate your stock when needed and also track the availability of the stock. Here’s how you benefit from Tally having Rack/bin Wise Stock Management -
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Know exactly how much stock is available before accepting an order
Tally shows you not only the location but also the availability of stocks at different godowns/ warehouses. Many times, if this information is unavailable while accepting an order, it may lead to delayed order fulfillment or even worse an unsuccessful order which can affect your business.
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Optimized Inventory Management
Inventory management is a skill but with Tally it's just so easy. Reordering levels need to be set and when a stock reaches that level, you place an order for that inventory. Tally helps you in keeping a check on inventory reorder levels.
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Less chances of human error
Errors are inevitable when humans are involved. But with rack/bin wise stock management, you reduce the type of human errors that are caused during inventory management. Errors like placing an item in a wrong place and being unable to trace it when required can cause you to lose out on orders. This can be avoided by using rack management in tally and placing stock in its defined location.
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No need to memorize location of items
Earlier, before the existence of management software, workers memorized the item location and based on memory retrieved the inventory. This is still a good idea but it makes the warehouse completely dependent. Instead you can now let the software work for you. Tally will let you know the location of the stock.
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Quick Easy and Efficient
Rack and Bin wise stock management in tally is a great tool for warehouses, storage rooms, godowns and all places where racks and bins are used extensively. It definitely improves the operation process and minimises the cost, time spent and increases the efficiency of the workers.
Conclusion -
Every business strives to reduce its wastage. Rack / Bin wise Stock Management in Tally is one powerful tool that every warehouse, godown or any other type of business that makes use of thousands of racks and bins must have.
