Sustainability in Inventory Management: Trends and Best Practices

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In today’s business landscape, sustainability is a need which we all must strive for. From the national point of view to an individual perspective, we all can create plans and take actions which will help us to become sustainable and will allow us to develop a world which is eco-compatible and not hazardous for the planet.

Businesses must transform their inventory practices and operations towards sustainability. In today’s blog, we will delve into the latest trends and approaches for sustainable inventory management.

  1. Sustainable Packaging Solutions

Today, we are living in a world where we love to get our products shipped to our doorstep. To make that possible, companies put a lot of cost into packaging the product correctly. However, this practice introduces a lot of plastic in the system, which otherwise could have been avoided.

Here comes the RFID inventory solutions, which help the managers of the warehouse to determine how much plastic they must put on each packaging, and the technology also suggests if there are any other ways through which they can pack.

There have been shifts in recent years, where the new age companies are shifting towards packaging materials with different items, which will not create further burden on the environment.

Amazon and Patagonia are some of the companies which are adopting the changes and are providing sustainable packaging which is not detrimental to the environment.

RFID inventory solutions

  1. Efficient Transportation and Supply Chain Practices

There are recent trends where brands are now optimizing their supply chain to stay in the plan where they aim to become carbon neutral. It is through this practice companies are now finding vehicles which can transport goods with much less fuel consumption.

It is through the efficient supply chain practices and the growing use of RFID tech helping companies to optimize routes through which they can deliver goods faster without the consumption of a lot of fuel, which leads to Scope 3 emissions.

Companies can now even track their goods; hence, they can make multiple shipments where they can keep small-size products together and ship the entire item in a single round of shipping using electric vehicles. It will reduce the number of trips a car needs to make, reducing their expenses and also the environmental impact.

  1. Inventory Reduction and Lean Practices

Excess inventory is always a trouble for the company, as the unsold materials go to waste after a specific time frame. It is better to have inventory solutions where the company can quickly source the products based on demands and sales.

Companies are now using RFID technology for inventory management, where they can reduce inventory costs and, for that, it will have less waste and will be one step closer towards a sustainable world.

The companies are practising the “Just-In-Time” inventory practice where the company replenishes the inventory just in the time of customer’s demand. It minimizes the inventory cost, and brands don’t need to stock a large number of products in the warehouse, hence reducing the requirement of maintaining multiple warehouses.

Through these changes and the integration of technology, a brand can shift its focus towards sustainability and develop a business which is streamlined and eco-friendly.

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