Amazon has more than 65 Fulfilment Centres in India with the largest in Bengaluru. This Fulfilment Centre spans across 350,000 sq. ft. with a storage space of 2 million cubic ft.
Even with this extensive storage space and a large number of Fulfilment Centres, Amazon maintains near 100% accuracy with their deliveries.
Amazon implements some of the latest inventory management techniques for the above. You may not match the techniques implemented by Amazon for inventory management, which often include robotics. But you can use particular tools that can do the job for your business setup.
Barcodes are of one technology that can contribute to streamlining your inventory. These contain all the necessary information about a product. You will need a barcode printer to print and a barcode scanner to scan a barcode. You can also implement a portable printer into the operations.
A point of sale (PoS) is another inventory management technique to save money while helping you keep a track your stock.
You can also go with radio-frequency identification (RFID) to track your products remotely. RFID can work with the need for minimal human interaction.
Lastly, you can also go with cloud and APIs to manage your inventory with more efficiency and precision.
Additional read: How to Improve Your Inventory Management Using Technology?
