Properly managing stock levels when dealing with timber is vital. Maintaining adequate levels for your business means, ultimately, a top-performing supply chain.
Holding timber stock for a prolonged period of time could cause the quality of the timber to suffer over time. That’s why, at Think Timber, we ensure our stock doesn’t sit around for long periods of time. Maintaining a well-ventilated space, for our timber to breathe.
We have created strong, meaningful relationships with our mills and suppliers. Meaning we can keep our stock levels healthy enough to supply all our clients and have the capacity to accommodate new customers.
Our expertise means we understand the timber industry and how demand fluctuates throughout the year. We use our knowledge to change our stock levels, ensuring the quality remains high, all year round.
Our top tips for managing your timber stock:
- Regular and accurate stock checks ensure you have enough products to fulfill orders and potentially fill new orders
- Set a minimum stock level for each product. You will know how long it takes for orders to come in, especially with the current shortage of drivers to contend with as well as product popularity. This will ensure that you have the best fighting chance of not running out of stock
- Double-check orders when they come in against the numbers you ordered, there can sometimes be discrepancies and you will be out of pocket
- Store stock in a clear, and logical way. With products clearly labelled and separated so there is no confusion when picking stock
- Use the 80/20 rule. 80% of your profit comes from 20% of your stock. So it should be a priority to prioritise this 20%
- Delegate the role to 1 or 2 people. This reduces the chance of double ordering & ensures there is accountability for managing the stock
- Find reliable suppliers, you can have the best system in the world, but you need a reliable supplier
- Change your systems as your business grows. Helpful technologies and software will help you to successfully manage your stock better than spreadsheets that you’ll use at the beginning
Get in touch to discuss managing your stock levels at email@example.com