5 Ways to Reduce Stockpile Inventory Write-Offs

Measuring a Stockpile with an iPhone



Inventory write-offs can significantly impact your company’s financial health. Implementing effective strategies to manage and monitor your stockpiles is crucial. Stockpile Reports helps companies eliminate write-offs by making changes and following these best practices:

1. Double-check perpetual inventory data

Perpetual data from belt scales, truck scales, and other automated systems are prone to discrepancies due to equipment calibration issues and data entry errors. Stockpile Reports’ SR Measure app allows you to easily double-check on-hand inventory using just your iPhone. By walking around a stockpile, you can generate an accurate volume report within minutes. This on-demand verification ensures that your perpetual data aligns with actual inventory levels, helping you identify and resolve discrepancies before they lead to costly write-offs.

2. Monitor frequently – and automate

Inventory levels fluctuate due to various factors such as supply, demand, and weather conditions. Regular monitoring is vital to stay informed about these changes. Stockpile Reports’ automated measurement systems enable you to keep track of your materials in real-time, providing accurate data whenever needed.

3. Implement better stocking practices

Are you ordering only when you’re about to run out? Do you order too much or too little? By implementing a more structured, disciplined stocking practice, you can avoid problems like stock-outs and obsolete inventory. One way to do so is to come up with a reordering threshold, keep track of your inventory levels, and order immediately when the threshold is reached. Another is to create a Vendor Managed Inventory (VMI) system with your supplier, which will automate the stocking. You can work with SR to create such a system.

4. Upgrade to an automatic measurement system

Traditional measurement methods can be time-consuming and prone to errors. Stockpile Reports offers automatic measurement systems that utilize iPhones, drones, and installed cameras to measure stockpiles accurately and efficiently. These systems provide reliable data quickly, reducing the reliance on manual methods and minimizing human error.

5. Verify deliveries

How do you deal with theft and supplier fraud? If you can’t train cameras on your piles or install security systems, monitoring your stockpile levels frequently should clue you in on whether your inventory is vanishing. If it’s not the weather or spillage, then it could be theft. Further, you can verify incoming deliveries to make sure you’re not being shortchanged. By using Stockpile Reports’ SR Measure app, any employee on your site with an iPhone can generate an accurate volume report in a short time simply by walking around the pile with the camera focused on it.

Say goodbye to write-offs

By integrating Stockpile Reports’ measurement solutions into your inventory management practices, you can significantly reduce write-offs and improve overall operational efficiency. To learn more about how Stockpile Reports can assist your business in minimizing inventory write-offs, schedule a demo for a personalized consultation.