Ten Actions to Get Your Inventory Back on Track: Downloadable Checklist
Ten actions to get your inventory back on track
10 Ways to Get Your Inventory Back on Track (Video version)
Ensuring the accuracy of your inventory data is crucial for smooth operations. Here's a quick checklist to get your inventory back on track.
1. Inventory Count
Conduct a physical count against recorded inventory levels to identify discrepancies.
2. ABC Analysis
Classify items based on their importance and value to prioritize accuracy checks for high-value items and prioritize production orders.
3. Documentation
Keep meticulous records of all inventory transactions, including receipts, sales, returns, and adjustments.
4. Stock Rotation
Ensure FIFO (First In, First Out) or FEFO (First Expired, First Out) methods are followed to prevent obsolete/aging stock.
5. Supplier Communication
Confirm lead times with suppliers to ensure your inventory calculations are based on accurate information. Inaccurate lead times can have a huge impact on your stock levels and the frequency of going out-of-stock.
6. Barcode/RFID Scanning
Implement scanning systems to minimize human error in data entry and retrieval. Ensure your product labels scan accurately. Many retail customers impose fines on products that won’t scan.
7. Training Staff
Educate your team about the importance of accurate inventory data, how inaccurate data can cause large financial problems and how their actions can help the company avoid large issues.
8. Identify Shrinkage
Look into reasons for shrinkage (theft, damage, errors) and see whether the value of shrinkage is trending over time. Is it getting better or worse?
Struggling with inaccurate inventory data? You're not alone… and it's costing more than you think.
How to Clean Bad Inventory Data: A Practical Guide to Restoring Inventory Accuracy offers a structured, hands-on approach to identifying, correcting, and preventing inventory data issues that lead to stockouts, excess, and lost revenue.
This 25-page guide includes:
Step-by-step audit and cleanup processes
Naming and coding standardization
Error identification tools and checklists
Proven strategies to prevent minimize data issues
Guidance on setting up long-term inventory governance
Whether you're a warehouse manager, supply chain analyst, or business owner, this book gives you the tools to restore data integrity and build a foundation for better forecasting, automation, and profitability.
📘 Available now — because clean data isn’t a luxury, it’s a requirement.
Table of Contents
Chapter 1: The Hidden Cost of Bad Inventory Data
Why Clean Inventory Data Matters
The Real-World Impacts of Bad Inventory Data
Objective of This eBook
Who This eBook Is For
What’s Next?
Chapter 2: Inventory Data Audit
How to Run a Physical Count (Cycle Counts vs. Full Counts)
Comparing System Data with Physical Data
Identifying High-Error Categories (e.g., Specific SKUs, Bins, Categories or Teams)
Checklist
Next Steps
Chapter 3: Standardizing Inventory Data
Naming Conventions for SKUs
Standard Units of Measure (UoM)
Location Codes and Labeling Consistency
Checklist
Next Steps
Chapter 4: Fixing and Removing Bad Data
Merging Duplicate SKUs
Correcting Quantity Errors
Archiving or Deactivating Obsolete or Inactive Items
Correcting Bills of Materials (BoMs)
Managing Adjustments Without Corrupting Financial Records
Checklist
Next Steps
Chapter 5: Preventing Future Data Problems
Role-Based Access to Inventory Changes
Training for Inventory and Warehouse Staff
Implementing System Controls (Mandatory Fields, Validation Rules)
Use of Barcode Scanning and Automation
Checklist
Next Steps
Chapter 6: Ongoing Maintenance and Governance
Cycle Counting Program Setup
Monthly Data Integrity Checks
Inventory KPIs to Monitor Accuracy
Who Is Responsible for Ongoing Data Health
Checklist
Next Steps
Conclusion
Recap of Actions Taken
Summary of Benefits from Data Cleaning
Next Steps: Automation, ERP Upgrades, Better Forecasting
Full Cleaning Checklist (Summary Version)
Prefer to buy the print edition from AMAZON? no problem. Click here.
9. Item Status
Identify obsolete or orphaned SKUs in your item list. Determine a plan to sell, donate or scrap the obsolete and orphaned inventory. These SKUs are taking up valuable storage space but yielding no revenue.
10. Performance Metrics
Track key performance indicators (KPIs) such as inventory turns, inventory age and inventory cost as a % of sales. Are these metrics getting better or worse?
