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LOGISTICS FOR HEALTH & BEAUTY INDUSTRY

HEALTH & BEAUTY

We specialize in the health and beauty industry and offer scalable e-commerce solutions, retail consolidation services, and vendor compliance processes for mass retailers.

LOGISTICS FOR FOOD & BEVERAGE INDUSTRY

FOOD & BEVERAGE

We partner with prominent food and beverage labels, and offer frozen/cold, temp-controlled, and ambient/dry storage for efficient shipping to major food retailers.

3PL for Consumer Goods Industry

CONSUMER PACKAGED GOODS

We partner with a variety of fast-moving retail brands spanning from footwear to apparel to small electronics.

Logistics for Industrial and Automotive Industries

INDUSTRIAL & AUTOMOTIVE

Our strategic solutions are customized to meet the unique requirements of various industrial and automotive sectors.

Private Equity

PRIVATE EQUITY

From corporate carve-outs to management buyouts, we have experience scaling supply chains for private equity firms and their portfolio companies.

About ODW Logistics

ABOUT

We are a 3PL provider driven by our culture and focused on Delivering the Difference with purpose-built logistics solutions.

Why ODW Logistics for your 3PL

WHY ODW LOGISTICS

Accelerate your growth with a 3PL that adds value to every link in your supply chain.

ODW Making a Difference

ODW MAKING A DIFFERENCE

ODW Logistics is dedicated to serving the communities in which we live and work and engaging with our associates.

Logistics Careers at ODW

CAREERS

Our growth is fueled by our extraordinary people delivering the difference to our clients every day.

3PL Service Case Studies

CASE STUDIES

Learn how we've helped our clients to deliver them logistics solutions that produces results.

ODW Logistics Blog Insights

ODW BLOG INSIGHTS

Read our latest blogs that give you insight into a variety of logistics topics.

ODW Logistics News and Press

NEWS + PRESS

Learn about our latest awards, partnerships, and featured trade publication articles.

3PL Services Videos

VIDEOS

Watch our latest videos that share more about who we are, our services, and more.

03.28.20182 min read

Your Business Is Sick: 5 Symptoms Of Poor Inventory Management

Inventory management is the very definition of a necessary evil. You can't run a business without it, but managing inventory requires resources like good partners, time, space and of course money.

Poor inventory management poses significant dangers to businesses. One of the most immediate risks is financial instability, as overstocked items tie up valuable capital and storage space, while stockouts result in missed sales opportunities and dissatisfied customers. In today's competitive landscape, the perils of neglecting effective inventory management serve as a stark reminder of its vital role in sustaining profitability and fostering long-term success. It's a cost of doing business to keep your manufacturing operation running efficiently.

There is no surprise then that a lack of inventory control has negative effects that reach many parts of the supply chain.

Symptoms of Poor Inventory Control

 
1. Canceling orders because you don’t have the necessary parts
Not only is this a surefire way to hurt production efficiency, but you also stand a good chance of losing clients and damaging your reputation in the process. Knowing FOR SURE what you need as well as what you have on hand can save you a lot of frustration, especially if you get surprise spikes in demand or rush orders.

2. Higher Shrink
Shrink happens when you have a surplus of inventory. Shrink can come in the form of damaged parts, parts that have become outdated, and employee theft. Having a high shrink is the equivalent of throwing money away and is yet another reason getting your inventory under control is crucial

3. High Lead Times
When your employees have to sort, sift and hunt for the parts and pieces they need, your lead times can start to suffer. Having too much inventory is just as bad as not having enough, and either instance impacts your lead times.

4. Damaged Relations with Suppliers
A quick way to annoy your suppliers is to lose control of your inventory. Extra large or rush orders put a strain on your suppliers, especially when it happens frequently. Losing favor with your suppliers can put you in a bad position, especially when it comes down to crunch time.

5. Decreased Cash Flow
When your inventory is out of control you can also expect a significant decrease in cash flow. Ordering raw materials is best done in bulk as it can cut down on freight and shipping charges as well as lower the price point. Poor inventory also affects your ability to forecast accurately, which can really hurt when it comes to settling on product delivery time for your clients.

The significance of effective inventory management cannot be overstated. Poor inventory management can lead to a cascade of detrimental effects for businesses, ranging from financial losses due to overstocking or stockouts to diminished customer satisfaction and eroded brand reputation. If you notice any one of these, or worse a mix of these symptoms, then your business is suffering from poor inventory control. Investing time and resources into improving inventory management is an investment in the future viability and profitability of any business.

The right 3PL can help you scale your business with stable and reliable inventory management solutions. Get in touch with our warehousing, distribution, and transportation experts to learn more.

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ODW Logistics

Since 1971, we’ve been providing warehousing, distribution, and transportation solutions for hundreds of brands. We operate as an extension of your business to control costs throughout your supply chain that deliver you a competitive advantage over your competition.

RESOURCES

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