For the manufacturing and the food industry, proper inventory management is an essential part of a company’s operations. Monitoring raw materials, like the ingredients of food or chemicals in other products, would prevent he purchasing department from excess buying. Physical inventory needs to be done weekly, monthly, semi-annually, or annually, depending on the needs and output of the company.
Proper management entails proper documentation and the reports gathered will serve as a Business guide to inventory control. The following storage inventory templates can be used for the inventory documentation you need to fulfill. Since these templates are in Word and PDF formats, they can be easily downloaded and are ready for use.
Food Storage Inventory Template
Oil Storage Inventory
Natural Gas Storage
Organize your Inventory
Inventory is arranged to provide efficiency in operations. This starts with assigning warehouse location codes and labeling each material with the use of the ABC classification, the most commonly used inventory segregation.
ABC classification categorizes items depending on its cost and usage within these standards:
- CLASS A. Items under this class are those that have a high relative cost or demand, covering less percentage in inventory quantity but constitutes a large percentage of total inventory value.
- CLASS B. This class pertains to the mid-value inventory items, covering about thirty percent of the inventory quantity.
- CLASS C. Lower cost items comprising a major percentage in the inventory quantity belong to this category.
Determine the Type
The following are ways of storing inventory by category:
- Warehouse Items Storage
- Stacking in block. This is the most common method in storing boxed product where boxes are piled on a pallet.
- Storage racks. This is more convenient than block stacking. Items are arranged on racks based on inventory system set by the company.
- Shelves. This method is usually used in central storage and point-of-use items which do not need warehouse and maintenance.
- Food Storage
- Dry Storage. Businesses in the merchandise and food industry apply this type of storage for items that need to be stored at room temperature. Goods are segregated based on its shelf life.
- Cold Storage. This includes food that are stored below room temperature for preservation.
Self Storage Inventory List
Annual Storage Inventory
Configuring Storage Inventory
Businesses have been monitoring their inventory with the use of a database due to the real-time feature on inventory management software. Inventory database templates on this website show examples on how the inventory is managed. The following elements need to be set when configuring storage inventory:
- Inventory report. Enable generation of the report. This will send a file to you regarding the set period on the items you grouped.
- Setting inventory name. Setting this requires providing a prefix to filter items related to the inventory name being set and choosing how often to generate the inventory.
- Additional information for the report. This pertains to the size and storage class of the product. Recent modification dates for manufactured products can also be added on the inventory report.
Inventory should be properly stored and managed in order to have smooth production. Inventory management helps entities achieve efficiency through correct documentation. Aside from the software, the downloadable Word and PDF templates on this website can aid you in exercising inventory control, especially if company policy still requires manual checking of inventory.