Inventory Management Best Practices for Chemical Distributors

Technology3 months ago

Source: Inventory Management Best Practices for Chemical Distributors

Effective inventory management is essential for chemical distributors to navigate challenges related to hazardous materials, regulatory compliance, and financial risks. Implementing a robust Inventory Management System (IMS) with barcode and RFID technology ensures real-time tracking, accuracy, and integration with ERP systems. Accurate demand forecasting, cycle counting, and FIFO methods optimize inventory control, while regulatory adherence to GHS and environmental laws maintains safety.