{"id":39493,"date":"2022-11-23T06:00:00","date_gmt":"2022-11-23T14:00:00","guid":{"rendered":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/?p=39493"},"modified":"2024-04-07T19:10:43","modified_gmt":"2024-04-08T02:10:43","slug":"how-to-solve-6-common-inventory-management-mistakes","status":"publish","type":"post","link":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/","title":{"rendered":"How To Solve 6 Common Inventory Management Mistakes"},"content":{"rendered":"\n

Inventory management isn\u2019t the most exciting thing in the world, but it\u2019s an essential foundation for your business<\/a>. Without it, you can\u2019t achieve operational efficiency and productivity. Most manufacturers carry out some inventory processes regularly. The problem is most of them are doing it all wrong. <\/p>\n\n\n\n

Here are six inventory management mistakes you should avoid and how to avoid them:<\/p>\n\n\n\n

\"inventory-management\"<\/figure>\n\n\n

1. Carrying out inventory checks just once per month<\/h2>\n\n\n

The process of carrying out inventory checks is simple: Check stock, make notes, reorder products for the next month, etc. However, most manufacturers carry out inventory checks only once a month (some do it even less frequently). <\/p>\n\n\n\n

Instead, manufacturers should carry out inventory checks in real-time. This way, they can gauge supply and demand on the shop floor and optimize production processes. The solution is simpler than it sounds.<\/p>\n\n\n\n

A good manufacturing execution system<\/a> (MES) automates many of the processes associated with inventory management \u2014 stock control, reordering products, you name it. As a result, you can manage inventories in real-time without any hassles.<\/p>\n\n\n

2. Not measuring performance<\/h2>\n\n\n

Research shows that 20 percent of electronics<\/a> manufacturers don\u2019t have a proper supply chain measurement system. If you don\u2019t measure supply chain performance, you’re simply doing your company a disservice. You won’t be able to solve problems on the shop floor or forecast future manufacturing trends. <\/p>\n\n\n\n

Production management software optimizes inventories and provides you with\u00a0actionable metrics\u00a0that track shop floor activity. Fusion Operations<\/a>\u2019s Global Overall Equipment Effectiveness indicator, for example, gives you shop floor updates in real-time, so you always know what\u2019s going on in your organization. You can also access aggregated reports about various elements of your manufacturing operations, including workers, products, raw materials, and machines.<\/p>\n\n\n

3. Ignoring inventory analytics<\/h2>\n\n\n

The latest software provides manufacturers with deep insights into their inventory processes to improve service, remove bottlenecks in their production processes, and save money. However, many manufacturers still don\u2019t use the latest analytics to track performance.<\/p>\n\n\n\n

A cloud-based MES generates real-time insights into inventory management \u2014 demand forecasts, fill rates, order performance, and much more \u2014 so manufacturers like you can make smarter decisions in a quicker timeframe.<\/p>\n\n\n

4. Not tracking inventory properly<\/h2>\n\n\n

If you don\u2019t track inventory properly, you\u2019re setting yourself up for failure. You’ll never know when your products expire, become damaged, or go out of stock. Perhaps unsurprisingly, research suggests that the majority of inventories are wrong. In the retail sector, for example, inventories are accurate just 63 percent of the time.<\/p>\n\n\n\n

Real-time inventory management software\u00a0increases predictive maintenance\u00a0in your organization, so you can make smarter decisions and\u00a0improve quality management. Programs like Fusion Operations let you reduce out-of-stock items, increase sales, and source intermediate products with a click of a mouse or\u00a0swipe of a finger.<\/p>\n\n\n

5. Lack of communication with suppliers<\/h2>\n\n\n

When you don\u2019t communicate with suppliers, there can be a breakdown in your manufacturing processes, which can negatively impact your organization. A lack of raw materials<\/a>, the wrong machine parts, the incorrect stock quantities \u2014 all of these events can occur due to poor supplier communication.<\/p>\n\n\n\n

Smart manufacturing software like Fusion Operations collects\u00a0information about processes such as manufacturing output, product waste, and low stock levels. You can share this data with the people who provide you with materials and parts and improve communication.<\/p>\n\n\n

6. Allowing inventory errors to pile up<\/h2>\n\n\n

Inventory errors can result in customers not receiving their products on time or lacking raw materials for production. This can have a detrimental impact on your business as a whole. Research shows that 77 percent of businesses lose sales due to poor inventory management. <\/p>\n\n\n\n

If you still use manual techniques for inventory management, it\u2019s time to digitize your methods for greater accuracy. An MES will reduce human error during inventory management and make it easier to forecast demand in your organization.<\/p>\n\n\n

Achieve better inventory management with Fusion Operations<\/h2>\n\n\n

It\u2019s time to\u00a0incorporate real-time supply chain<\/a> management software\u00a0into your organization. Ready to communicate with suppliers more effectively, track your inventory correctly, and access the latest metrics? Transform the way you\u00a0run your business with Fusion Operations!<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n


<\/p>\n","protected":false},"excerpt":{"rendered":"

Inventory management isn\u2019t the most exciting thing in the world, but it\u2019s an essential foundation for your business<\/p>\n","protected":false},"author":3128,"featured_media":39591,"menu_order":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[235,482,480],"tags":[197,481,405],"coauthors":[],"class_list":["post-39493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-machining","category-fusion-operations","category-manufacturing","tag-data-management","tag-fusion-operations","tag-manufacturing-execution-system","dhig-theme--light"],"acf":[],"yoast_head":"\nHow To Solve 6 Common Inventory Management Mistakes<\/title>\n<meta name=\"description\" content=\"Inventory management isn\u2019t the most exciting thing in the world, but it\u2019s an essential foundation for your business\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Solve 6 Common Inventory Management Mistakes\" \/>\n<meta property=\"og:description\" content=\"Inventory management isn\u2019t the most exciting thing in the world, but it\u2019s an essential foundation for your business\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/\" \/>\n<meta property=\"og:site_name\" content=\"Fusion Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-23T14:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-08T02:10:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2022\/11\/Screenshot-2022-03-29-at-11.44.25.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1914\" \/>\n\t<meta property=\"og:image:height\" content=\"940\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Pooria Sohi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Pooria Sohi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How To Solve 6 Common Inventory Management Mistakes","description":"Inventory management isn\u2019t the most exciting thing in the world, but it\u2019s an essential foundation for your business","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/","og_locale":"en_US","og_type":"article","og_title":"How To Solve 6 Common Inventory Management Mistakes","og_description":"Inventory management isn\u2019t the most exciting thing in the world, but it\u2019s an essential foundation for your business","og_url":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/","og_site_name":"Fusion Blog","article_published_time":"2022-11-23T14:00:00+00:00","article_modified_time":"2024-04-08T02:10:43+00:00","og_image":[{"width":1914,"height":940,"url":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2022\/11\/Screenshot-2022-03-29-at-11.44.25.webp","type":"image\/webp"}],"author":"Pooria Sohi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Pooria Sohi","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#article","isPartOf":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/"},"author":{"name":"Pooria Sohi","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/#\/schema\/person\/77bbdf9dbbc34063027fa75c54f7d35c"},"headline":"How To Solve 6 Common Inventory Management Mistakes","datePublished":"2022-11-23T14:00:00+00:00","dateModified":"2024-04-08T02:10:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/"},"wordCount":714,"commentCount":0,"image":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#primaryimage"},"thumbnailUrl":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2022\/11\/Screenshot-2022-03-29-at-11.44.25.webp","keywords":["Data Management","Fusion Operations","Manufacturing Execution System"],"articleSection":["Machining","Fusion Operations","Manufacturing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/","url":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/","name":"How To Solve 6 Common Inventory Management Mistakes","isPartOf":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#primaryimage"},"image":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#primaryimage"},"thumbnailUrl":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2022\/11\/Screenshot-2022-03-29-at-11.44.25.webp","datePublished":"2022-11-23T14:00:00+00:00","dateModified":"2024-04-08T02:10:43+00:00","author":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/#\/schema\/person\/77bbdf9dbbc34063027fa75c54f7d35c"},"description":"Inventory management isn\u2019t the most exciting thing in the world, but it\u2019s an essential foundation for your business","breadcrumb":{"@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#primaryimage","url":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2022\/11\/Screenshot-2022-03-29-at-11.44.25.webp","contentUrl":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2022\/11\/Screenshot-2022-03-29-at-11.44.25.webp","width":1914,"height":940},{"@type":"BreadcrumbList","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/how-to-solve-6-common-inventory-management-mistakes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/"},{"@type":"ListItem","position":2,"name":"How To Solve 6 Common Inventory Management Mistakes"}]},{"@type":"WebSite","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/#website","url":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/","name":"Fusion Blog","description":"Product updates, tips, tutorials and community news.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/#\/schema\/person\/77bbdf9dbbc34063027fa75c54f7d35c","name":"Pooria Sohi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2019\/05\/sohi-150x150.jpg6618dee10411540ad4f0dca129053ac6","url":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2019\/05\/sohi-150x150.jpg","contentUrl":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-content\/uploads\/2019\/05\/sohi-150x150.jpg","caption":"Pooria Sohi"},"description":"Pooria Sohi is an ex architect, industrial designer, and doctoral candidate for the field of additive manufacturing. Pooria has a long history of designing and manufacturing consumer products, and consulting for major companies to help them deliver products that implement bleeding edge technologies and manufacturing methods. Pooria likes to make furniture in his spare time, and is known to occasionally write about issues plaguing the design world for Core77.","url":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/author\/paulsohi\/"}]}},"_links":{"self":[{"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/posts\/39493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/users\/3128"}],"replies":[{"embeddable":true,"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/comments?post=39493"}],"version-history":[{"count":0,"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/posts\/39493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/media\/39591"}],"wp:attachment":[{"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/media?parent=39493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/categories?post=39493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/tags?post=39493"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.autodesk.com\/products\/fusion-360\/blog\/wp-json\/wp\/v2\/coauthors?post=39493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}