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Don’t have Lot Control? You may be at Risk

Having greater visibility into your warehouse business operations is no longer a “nice-to-have” in the world of business – it’s now a “must-have.” In fact, not having lot control in your warehouse could be a huge risk, leading to increased costs, lower profitability, and unexpected breakdowns in your supply chain. If your business ever faces an emergency recall situation – such as a food product that has been contaminated and needs to be recalled, you’ll be glad that you have a software-based warehouse management system to find the exact product you need at exactly the right time to avoid any serious consequences.

The core feature of any warehouse management system is lot control. Every piece of inventory that has ever passed through your warehouses comes with a unique tracking ID code that assigns it to a lot. These identifying characteristics can include ingredients or materials in the product, or factors such as color, expiration date or place of origin. The more you know about each lot, the easier it is to track down exactly what you need. If you are currently doing this manually, then you are at a real disadvantage to your competitors who have automated the entire process and can check on the status of lots within minutes.

Another example where automated lot control is an advantage is if, for example, you are working in an industry where product expiration dates matter. The last thing you want is for older items to sit in a warehouse too long. With automated software, you can mitigate this problem, ensuring that older lots make their way into your distribution chain in a timely matter before it’s too late. This will impact your bottom line immediately.

And, finally, there’s the matter of product differentiation. In certain industries, lots are differentiated not by product expiration dates, but by factors like color, shape or size. You want to make sure that you are shipping the right colors (or shade of the right colors) to the right customers. This can prevent you from sending last year’s make or model to a new customer.

In dealing with these hypothetical situations, lot control in the warehouse is key. Lot control will give you greater visibility into your business operations, lower your costs, streamline your operations, and give you the ability to increase throughput in your supply chain. And the most effective path to reach these goals is a software-based warehouse management system with built-in lot control, such as Spire. In both everyday and emergency recall situations, lot control will give you the peace of mind of knowing that any situation in your warehouse can be handled quickly and efficiently.

Are you still running your business with spreadsheets?

For small businesses, it’s only natural that the way you start out tracking your financial activity is with spreadsheets. But at a certain point, spreadsheets no longer work the way you need them to. If you recognize any of these four signs below, it could be time to ditch your spreadsheets for real accounting software.

You start to notice errors in your spreadsheets

The fundamental problem with using spreadsheets is that all information must be entered manually. And that raises the very real risk of human error. Sooner or later, a few items are going to be keyed in incorrectly, and that has the potential to throw a real wrench into your ongoing operations. With Spire, however, you can seamlessly integrate data from various sources without the need for manual entry.

You are not able to produce the reports that you need

As your company grows, so does its overall complexity. You need to file more and more reports, and as a result, it becomes more and more difficult to file everything on time. Even worse, some events – such as an unexpected audit or other compliance issue – might grind your business to a halt as it results in an “all hands on deck” mentality. But you won’t have these same problems with Spire, because not only does it come with a multitude of reports, but also has the ability to create custom reports to suit your needs.

You are starting to notice a loss of productivity in your finance team

Spreadsheets are easy at first, but can soon become very time-consuming. That means they can start to chew away at your finance team’s time. In the best of all worlds, you want your finance team working on high-level strategic projects, not on assembling a bunch of numbers. If you’re looking to streamline your operations and save time, then getting the right accounting software can make a big difference.

You have no easy way for teams to share data

One of the best parts about accounting software is that it allows several different teams to work with the same data. You have seamless integration between all of your teams. For example, it takes seconds for Spire to track a specific lot number from production through to distribution, at any point in time.

Growth is a good thing for any business, but it also brings its own share of issues, such as scalability. If you are looking for greater clarity and precision in your decision-making process visit www.tri-tech.com or call 604-637-6418 for more information