We live in the age of tech. We use smartphones, tablets, and computers to help us with almost all of our daily needs. Steadily and swiftly, AI is coming onto the scene for businesses, and the implications are huge. Think Terminator, or the Borgs from Star Trek. Cool right? Well, what we’re talking about may not be able to travel back in time, but it can certainly help you reduce work time.
Site transfers, if you're not familiar with the term, really revolves around the movement and requesting of inventory from one location to another, typically moving it over some significant amount of distance or changing of hands between who is managing it at one location, to another group or people that are managing it at a destination location.
There can be quite a variety around how that is all accomplished. But in general, it is the tracking, monitoring, picking and receiving of all those materials from one site to another.
Sometimes that can be over the ocean, in shipping carriers or as an in-transit location from overseas as well.
Support your team.
How can you help your inventory team improve using digital technology? When it comes down to it, we should all focus on one question: How much inventory do we truly need to keep on the books to run a successful business?
An inventory team works best when it can ensure that they can find accuracy in the information and that they can adequately keep inventory that you need—in stock—when it's needed. That means we are always trying to maintain a better quality of customer service, and make sure that we have enough raw materials to meet the needs of production.
Digital technologies include everything from a back-end record-keeping system to the barcode-scanning technology that identifies products. What we’re excited about is AI and predictive analytics. When it comes to reordering points with inventory, finding the correct answer is key. Inventory truth means that no matter what, you have a full 360-view of what’s available at any given time.
If done correctly, digital technology can also reduce the cost of labor, saving you a couple of hundreds on paper throughout the process, shoring up mistakes, as well as lowering costs for materials across the board.
Use a system that’s best with both.
If it ain’t broke, don’t fix it. There’s a tool for every job. Work smarter, not harder. There’s a million and a half euphamisms about process, building, and fixing something. Today we’re here to say, they’re right. But, it’s about how you use what you’ve got, and use it well. What’s the answer to the inventory management problem? The waters are murky, but we’re here to help you find out.
Paper is easy, cheap, and universal. But, it also has shortcomings. Today, let’s dive into when paper is better, and how to use it in a system that utilizes the best parts of digital as well.
We’re all living in the real world, with real jobs. The best part of it is, this isn’t high school. If somebody else is crushing it, you can copy their crib-notes.
It comes as no surprise that the biggest 3PL in the world is Amazon. They make weird, cylindrical robots that tell you about your groceries and servers that the majority of businesses use; for the most part, they make their money off of shipping other people’s goods. Storing them, transporting them, and doing it faster than the post office.
How did they become the biggest 3PL in the world? Simply by working to be the best at it. They didn’t invent a new plane that can store more products and they certainly didn’t build new roads that only Amazon trucks can drive on. They streamlined processes and made decisions easier to make. They used the best + newest tech that was (and still is) available: Artificial Intelligence. By taking the headache of decision-making out of the picture, they’ve been able to make cross-country shipments daily, hourly, and sometimes, even by the minute--without a sweat.
If there are seven trucks and five of them need to reach a certain weight limit, the machine learning inherent in their programming can do it. And, it can pack it better than the world’s best Tetris player. Got 300,000 packages going to Minnesota? We know which trucks can make it there the quickest.
This point is that at the end of the day it’s about working smarter, not harder. There is no reason you can’t look at your classmate’s notes for this one. In fact, you’ll probably both do better on the test if you do. We know that the biggest 3PL in the world is using AI + Machine Learning to keep things moving. So, why not beat the system?
With our Inventory Platform, you can boost your functionality, save on data entry, and build a better, scan-happy system that works on the same principles as the best in the business.