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How is your mechanical workshop inventory control going?
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How is your mechanical workshop inventory control going?
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How is your mechanical workshop inventory control going?
Hello, and Welcome to Racext’s Car Magazine column, the column aimed exclusively at the world of 4-wheeled vehicles with news, insights and guides, available every day here racext.com, today in this article we will talk about “How is your mechanical workshop inventory control going?”
How is your mechanical workshop inventory control going?
Does your workshop have effective stock control? If you don’t, know that you are wasting many opportunities for expand your sales . This is because, in addition to the need to worry about the quality of deliveries and to provide a positive customer experience, you need to pay attention to internal activities, such as inventory management.
The lack of organization and management of goods translates into a waste of money and strength of work team . By ensuring efficient inventory control, you have the return of being able to find a product, the ability to see what is missing and the certainty that the various daily activities will be streamlined. In other words, there are many benefits this action offers your business.
Knowing this, in this article we will introduce you to the key information about inventory control in the auto repair shop, as well as show you how to apply this management in practice. Interested in the topic? So, follow the reading!
What is inventory control?
Any business that works with the supply of goods needs to have stock to meet the demand. The efficient control of what enters and leaves the company avoids losses caused by the loss of products or the lack of handling of the stored items. It is essential that a mechanical workshop carry out this check.
After all, inventory control is nothing more than the management of goods entering and leaving the shop. For this monitoring to have positive results, it is essentially necessary to monitor:
- the process of ordering the goods: you need to pay attention to the quantity of parts purchased, as there is a risk of over-ordering the goods that have little production or not ordering enough to meet the demand;
- the storage and organization of stocks;
- recording what goes in and out of stock: after all, having a history helps you identify which products have the highest and lowest demand and what is the average production of these items in a given period;
- count the items still available.
It should be noted that inventory control varies depending on the type of business, i.e. a physical company must adopt a different merchandise management system than a virtual store, for example. So, if your workshop uses these two models (online and physical) know that inventory management has to be done differently for each sector, okay?
Remembering that inventory management is responsible managing the acquisition of new assets, ensuring the correct and organized storage of products and reducing the number of losses.
To do all this in an efficient and practical way, you can count on the help of software that contribute to the optimization of the process. These tools allow you to do inventory mapping. Also in charge of organizing merchandise, registering products, ordering and sales history. In fact, through this data it is possible:
- calculate inventory turnover;
- the average period for stock renewal;
- the profit margin.
Therefore, we understand that maintaining control of inventory is essential to ensure the flow of sales in your business.
How important is inventory control?
We know that in order to ensure its development and stabilize itself in the segment in which it operates, a company must have a set of actions and strategies that contribute to increasing profitability. Therefore, in view of all the tasks of the manager, we must emphasize that inventory control deserves special attention.
This is because it is a management that directly affects the profit margin, the agility of the sales processes and, above all, the customer behavior towards your company.
Imagine a consumer arriving at your workshop looking for a spare part or requesting a service, but unable to satisfy this request due to a lack of product or material? In addition to losing the chance to close a deal, you throw away the opportunity to win that buyer. There is still a chance that merchandise will get stuck in stock due to low demand.
This situation has the disadvantage of losing the investment. High damage can be caused by products that contain an expiration date that is lost over time and by parts that can be damaged that compromise their functionality.
In this sense, it is clear that inventory control is an efficient way for you, together with your team, to know what enters and leaves your company. In addition to allowing you to collect important information, such as:
- the net income acquired;
- the demand for the product;
- losses resulting from the loss.
All of this data will help you keep your inventory shifts running efficiently. This means that investing in competent management ensures that commodity tracking managers know exactly how much of each product they need to purchase.
In this case, the advantage is greater control of the products, lower expenses and more -your-workshop / “> organization and productivity . These attitudes ensure the smooth functioning not only of the warehouse itself, but of all company operations, including negotiations with suppliers.
Therefore, it is clear that when investing in good inventory management, you can:
- identify the parts and products that have the highest and lowest performance;
- optimize your investment with stocks;
- plan orders with suppliers to secure goods and negotiate better payment terms;
- make sales estimates;
- create offers and evaluate products adequately;
- improve production planning.
How to perform inventory control in the workshop?
After understanding the importance of inventory control for the development of your business, find out now how to put this management into practice.
take inventory
Creating an inventory is essential to ensure the best inventory control. After all, this document is nothing more than a record of all the goods stored in the workshop. That is why it is important that all articles are cataloged with information on their characteristics and quantity.
Remembering that, as the product leaves the warehouse, it is necessary to update the system by recording the handling period. Note that this process must be done constantly so that the information does not diverge between the system and the physical stock, okay?
Automate inventory control
There are some business owners who still make use of manual resources to manage inventory. However, as well as being an outdated strategy that takes time, the chances of failure are even greater.
For this reason, the use of management tools it is no longer a simple trend to become a necessity in the business market. This is because, in addition to guaranteeing innovation in the company, it contributes with:
- optimization of internal processes;
- the elimination of rework;
- reduce the occurrence of failures;
- the agility of management processes;
- the improvement of waste management ;
- the greater efficiency of the activities carried out in the company;
- the differential competitive .
train employees
To maintain inventory control organization and efficiency, it is ideal to leave a single employee responsible for daily industry and system monitoring. However, if the whole team has access to the stock in your workshop, it is extremely important to train them so that there is order and standardization in the management.
Observe the demand for each product
By creating a sales history, you can identify which parts sell the most in your business and which ones leave the least. This tracking helps you know which products you can’t miss.
For those with low demand, you should reduce the amount of orders and develop strategies that appeal to the consumer, such as running promotions like light 3 and pay 2. These measures prevent excess or shortage of product.
Establish shopping periods
Do not wait to run out of stock to place a new order with the supplier. Leaving it at the last minute can cause more headaches, as there is a high possibility of unforeseen events that can let you down. However, it is not necessary to rush and order a huge amount of products, as it can happen that the goods are stopped and you have losses alike.
So the solution is to find a balance. For this, it is important to consult the history of stock movements to analyze the average exit time of each product. Furthermore, it is possible to identify in which periods there is greater and lesser production.
It is interesting to note that at this time it is important to define a loss margin caused by damage. Thefts and deadlines, for example, because no matter how good the inventory control is, there is the possibility of losing the goods. Whenever this happens, it is necessary to put the product in stock and leave the observation so that it is not accounted for in the profits of the workshop, okay?
Calculate storage costs
It may not seem like it, but keeping an inventory generates expense with system acquisition, staffing, space preparation, among other necessary resources. Therefore, it is important to take these costs into account to ensure greater control and increase process efficiency.
be careful with the collection
If your business offers the option to ship goods, it is important that the product preparation process has quality control. This prevents the wrong, defective or obsolete part from being sent to the customer.
What are the best inventory control practices?
Entrepreneurs know that one detail makes the difference for the success of the company. Understanding that inventory control affects various processes within the shop floor, it is important to adopt some practices to ensure management efficiency.
The first concerns the good relationship with one’s own suppliers . Keep in mind that in order to keep your machine shop stock properly stocked, it is essential to have suppliers who value good service. After all, it is through them that your workshop will not run out of parts or products.
In addition to being faithful to delivery times, the manual selection of your partners also guarantees the quality and legitimacy of the items received. It therefore appears clear the importance of creating a healthy relationship with suppliers, as in situations where a part is urgently needed, it is easier to communicate with those who already trust.
Therefore, in order to get the right choice of supplier, we recommend that you do a good research before closing a deal. Try to analyze the reputation the company has in the market, as well as the ratings and opinions of previous customers. And always remember to check if the conditions offered by the supplier are in line with the reality of your business and if the values correspond to the market average.
It is interesting to note that when it comes to parts cars , safety is a key feature. Therefore, it is extremely important to prioritize experienced suppliers who are recognized for the quality of their products.
Taking this into consideration prevents you from being seduced by proposals that look good but are misleading. Furthermore, investing in quality products improves your reputation in the market. So think about it!
Another point you should pay attention to is the arrangement of parts in your warehouse. At several points in this article we have mentioned the importance of organization. This factor not only helps to make the most of the space, but also makes it easier to find products.
As for items that have low sales volume, we suggest you choose to relocate so that they are more visible for sale.
What are the stock control errors that need to be avoided in the workshop?
While many business owners understand the importance of inventory management, few are successful. This is because there are mistakes that hinder the achievement of good results. Look what they are.
Take action without planning
Planning consists of analyzing the order history and the output record of each product. By comparing this data it is easy to determine the right amount of each item that will be purchased. It turns out that many managers do not do this mapping and, therefore, make mistakes in assembling their actions.
In this case, it is necessary to understand that the excess merchandise causes losses due to the stopped product and the possibility of suffering damage over time, as well as preventing the purchase of other items due to lack of space and financial resources .
The opposite of excess also has no advantages. This will directly affect the number of sales, not to mention that it prevents you from increasing demand due to a lack of products, resulting in loss of revenue and generation of dissatisfied customers.
For these reasons, we suggest that you regularly monitor the circulation of goods to identify the factors that influence the increase or decrease in sales .
Do not use software
While we have already mentioned the benefits of replacing paper with software systems here, we emphasize once again the importance of considering the use of technology to your advantage. This is because, in the case of inventory control, the manual process takes time and a lot of availability.
Considering that there are other activities within a company that also require time and attention, it is natural that inventory control is left out, which affects the quality of management. Not to mention that brochures or spreadsheets can be considered obsolete and insufficient resources in certain situations.
The use of a software system, in addition to adding value to your business, provides benefits that improve the growth of your business. Therefore, not adhering to the use of this tool can be considered a mistake, as it represents a setback.
Do not catalog inventory items
Registering all the items in stock specifying their characteristics is essential to maintain the organization and efficiency of operations. This is because it facilitates identification and helps to observe which of these products have a higher or lower yield.
Take a look, imagine your stock contains four types of brake pads:
- biological;
- metallic;
- semi-metallic;
- ceramic.
In this case, the model with a metal insert is in great demand, as it is a more popular part. While the ceramic tile not all consumers are aware of its advantages and therefore it is not yet among the most in demand.
Note that it is not enough to register in your system that the stock contains X brake pads. You need to specify which models are available to know which ones have the highest and lowest output. Therefore, the more information you have, the easier it will be to plan your next acquisitions.
Not considering the average storage time
During stock analysis, it is very common for the person responsible for monitoring to consider only the value of the stored product. This practice can be considered a mistake, because it hinders the understanding of inventory rotation.
To better understand how this works in practice, imagine that your inventory has two types of products: A and B. The sum of the items in the first group A has the value of R $ 3,500. Group B, on the other hand, costs R $ 2,000. But after a few days, you noticed that the merchandise of group A was already out of stock.
This happened because only the stock value was taken into account and not the average shelf life of the product. Therefore, taking into account the average storage period for each item is essential to better understand the speed of inventory rotation, in order to avoid unpleasant surprises.
What tools should be used in inventory control?
Much has been mentioned about the importance of using tools that facilitate inventory management. But what would these tools be? To answer this question, we have prepared a short list with some tips for you to check out. Check it out.
ERP – Business management system
The main feature of ERP is the ability to integrate all sectors and enhance the flow of information in a single system. Furthermore, it is a tool that the manager can buy in modules or customize the system according to the needs of the company itself.
Other advantages that we can highlight on ERP are:
- all operational and administrative processes of the company will be performed with greater efficiency and agility;
- is able to trace a better relationship between supply and demand, thus allowing a better balance between purchases of goods;
- provides access to all important inventory data;
- allows you to perform an individual analysis of each element.
& nbsp;
just in time
Just in time is an English expression meaning “right time”. Therefore, it is widely used in inventory management because it is meant to guide the manager to keep only the necessary quantity of products in stock. However, for this strategy to generate positive results, it is very important to have excellent inventory management.
These were our recommendations on how to ensure stock control in your store. Through this content, we understand that mismanagement in this industry can negatively impact your company’s profitability, as well as damage your brand reputation.
Therefore, do not overlook the occurrence of errors when checking inventory. Instead, look to invest in tools that will help strengthen this department’s monitoring.
& nbsp;
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How is your mechanical workshop inventory control going?
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