For an inventory management process to be successful, you must be able to trace inventory easily and quickly. Lot Control procedures are essential to operational efficiency in your ecommerce business.
What is Lot Control?
Lot control is the process of tracking every piece of inventory that enters the warehouse by assigning numbers as “Lot IDs”. The Lot ID is a code that identifies the expiration the batch that the product came in on and can help identify the expiration date.
Why is Lot Control Important?
Lot control is important to companies that ship perishable products, serialized products, or any other highly regulated items. It also helps with:
- Product Recalls
- Products with Expiration Dates
- Product Differentiation
Products can be recalled for a number of reasons. If products are recalled, it’s very easy to quickly identify the specific products that need to be pulled from the shelves by their Lot control IDs.
Products that are nearing their expiration date can be identified and disposed from inventory before being sold to customers.
If you use multiple manufacturers or have slight variations between batches such as a different color dye or ingredient, the Lot control number can help identify specific products.
What is the best way to track lots?
Having a transparent view of your inventory in the warehouse makes running your ecommerce business a lot easier. Fulex has a cloud-based WMS system that provides lot control functionality. Having a WMS with lot control helps your business lower its costs and streamline operations processes. You have the option to organize your inventory process by the First in First Out (FIFO) or Last in First Out (LIFO). You also have the ability to setup real time alerts for products that may be expiring soon.