7 Things to do to protect your Inventory

As a businessman, particularly a trader, your biggest asset is your stock of goods. The more secure they are, the more secure your business is. However when there are large inventories that need to be maintained for months together, there is a good chance that they may be subject to various issues like damage, theft, breakage, spoilage or even corrosion.

This article lists out the 7 basic things to do to protect your inventory, especially in cases where goods are stored in large quantities and for long periods.

1. Security systems and alarms- Make sure your warehouse or storage is secured with an appropriate security system. These systems, although expensive are a great investment. Preferably get one with an in built alarm. Every time a burglar tries to enter the storage, the alarm will go off and warn you in time. These systems are particularly essential for unmanned or unguarded storage houses.

2. Pest Control- One of the biggest problems with stored goods or inventory is pests. Roaches, rats and lizards are common players in closed rooms and storage houses. They are moreover the ones that can cause maximum trouble. They can corrode through even the toughest of packaging material and cause irrevocable damage. Contact a reliable pest control agency and contract with them for regular cleaning and riddance of pests.

3. Insurance- Make sure to get commercial insurance for your goods. In the worst case scenario, this will help bail you out. Most companies will insure at least half your goods if not all. Also, depending on the policy, almost all probable causes of damage will be covered. Insurance will help protect against loss, theft or damage of inventory.

4. Close circuit cameras- Close circuit or CCTV cameras that record footage throughout the day or night will help you keep a tab on your stock even when you are away. Even while you are sitting at home you can monitor your goods and keep a watch on who or what touches them.

5. Automatic generators- In case of perishable items or stocks that are good only under certain temperatures, make sure to invest in a good quality automatic generator. In the event of power failures, your goods could get spoilt and thus generators are very important.

6. Labeling and packaging – Make sure all goods are packaged well. Even the best of pest control practices will not eradicate pests completely. Moreover there may be termites and ants that can only be kept at bay with proper, strong packaging, preferably with some material that is also rust and water proof. Also ensure proper labeling of all packages, this way you can avoid shuffling through and spoiling the order of packages. Also repeated removing and putting back of goods will invariably cause some amount of damage which can be avoided with proper labeling.

7. Rotation- Don’t keep stocks for too long, especially those that are prone to get spoilt. If stocks are not moving, send them back to suppliers or try selling them at lower prices. Keep rotating stocks and inventory before they get too old or rotten.

Depending on what kind of product you are storing, always make sure to purchase appropriate packaging and consider safety equipment like cameras, alarms and security systems as an investment. They may be high in cost but are completely worthwhile considering they will go a long way in protecting your goods.