Anyone in the manufacturing business must know the importance of effective inventory management. Inventory management is the tool to maximize the efficiency of the working capital and reduces waste in the manufacturing process. Usually, for every planner, it is easy to manage the prime materials but the problem comes with the consumable items. The consumable items usually consist of the parts of the machinery or items that are consumed during the production process. These parts seem to be invisible because they are not part of the direct inventory but if not watched carefully, they can increase in inventory value plus they can consume unnecessary space. For example, if you need wash up blades or circular knives, there will be multiple options in all and usually, there are always many sizes in use. You have to maintain the inventory for each size that will increase their quantity. The same is the case with other consumable materials like chemicals, solvents etc. It becomes very important for planners to keep the tap on these items, here are a few tips that can help to control the inventory of these items.
- Forecasting: When you are dealing with inventory, you have to ensure that you must have proper forecasting in place. The forecasting helps to know the future requirement plus, you will be able to know when a certain item can be required. Without forecasting, it may not be possible to control a wide range of items.
- Just in Time: This is very effective when you are dealing with a wide range of components. Because the storage space is always limited and it is difficult to keep everything in stock. But for items like wash-up blades or circular knives, it is easy to shift to just in time delivery technique. Even you can find circular knives for sale online, so it can be easy for you to get them delivered just in time. When you have items like wash-up blades and circular knives for sale online, you can be certain that they can be delivered in a day from those suppliers. The smart way to work on just in time model.
- More suppliers: You can get many suppliers for washup blades and circular knives. As they are widely used components in production, so usually suppliers have these in their inventory. It is always better that you should have 2-3 suppliers who can provide identical items on short notice. When you will have multiple suppliers, you won’t have to be worried about the shortage of the items. Even now you can find many online platforms where wash-up blades and circular knives are for sale. You can also leverage those platforms to buy these items.