Stock rotation labels: The best method to manage your stock?
Great logistics are the cornerstone of any business, and in particular when it comes to managing stock. Ensuring your products are in the right place at the right time prevents your customers from being let down and builds trust in your promise to always deliver. Stock rotation labels are among the most effective ways to organise your stock and guarantee that you are in total control of your inventory at all times.
There are two well-known methods of inventory management, and stock rotation labels can be used to complement both of them.
First In, First Out (FIFO) does exactly what it says on the tin. It means that the first stock that enters your warehouse is also the first out, e.g. it is the first to be sent out to your stores or delivered directly to customers.
This is a great option for business owners whose products may be perishable, such as food, or products that may have a cycle, like fashion. With items such as these it’s important to move them fairly quickly; the longer they sit on your shelves, the more likely they are to reach an expiration date of some kind.
A good way to keep track of perishable items is by using stock rotation labels. Clearly labelling the dates that items entered your inventory means you can keep track of how long you have had them for. Stock rotation labels help to eliminate the risk of food borne illnesses as well as food waste which is a risk if you are uncertain of how long a product has been in stock.
Last In, First Out (LIFO) applies the same principle but precisely the other way around. It means that the last item of inventory purchased is the first to be sold. It also means you can match your most recent costs against your revenue which can counteract the rising costs of manufacturing.
Once again, stock rotation labels are a crucial tool for helping you to quickly identify which items should be sold first. Clearly labelling every batch will allow you to be certain that you are only using the newest, and although you may not need to rotate batches, you can guarantee your warehouse is organised and well-ordered.
Hague has thirty years of experience designing and supplying a wide variety of self-adhesive printed labels. Fill in our online enquiry form and a member of our expert team will set up a free consultation so that we can discuss your label requirements in greater detail.