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Inventory Replenishment Checklist
Inventory Assessment
Conduct a physical count of current inventory
Identify fast-moving and slow-moving items
Check for discrepancies between physical count and database records
Analyze historical sales data to forecast future demand
Assess shelf life and expiration dates for perishable goods
Supplier Management
Review and update supplier contact information
Verify supplier lead times and delivery schedules
Negotiate better terms or discounts with suppliers
Ensure backup suppliers are available for critical items
Assess supplier performance and reliability
Reorder Strategy
Set minimum and maximum stock levels for each item
Determine reorder points based on sales velocity
Use automated systems to trigger reorder alerts
Consider seasonal variations and promotional events
Plan for bulk ordering to reduce costs
Receiving and Storage
Prepare storage space for incoming inventory
Inspect incoming shipments for quality and accuracy
Update inventory records upon receiving new stock
Label and organize items in the storage area
Ensure proper storage conditions to maintain product quality
Inventory Auditing
Schedule regular inventory audits
Use barcode scanners or RFID for accurate tracking
Reconcile discrepancies found during audits
Document audit findings and actions taken
Review and update inventory management policies
