What Is Fast Moving Stock?
Fast moving stock in logistics usually refers to products with high sales volumes that require frequent replenishment. It can refer to various items, such as inventory that is moved quickly from a distribution center to retail stores or merchandise that is rapidly moved between warehouses or manufacturing facilities. Examples include food and beverage products, personal care items, and electronics. Logistics companies must be able to quickly and efficiently move these items from their source to their destination to meet customer demand.
Significance of Fast Moving Stock in E-commerce and Logistics
Fast moving stock helps maintain a steady supply of goods, keeping customers satisfied and reducing the risk of running out of items. Let’s look at why it matters.
1. The availability of fast moving stock helps to reduce delivery times, as the items are already stored in warehouses or other facilities, ready to be shipped out.
2. It optimizes inventory levels, reducing the risk of overstocking or understocking items.
3. It increases the efficiency of the supply chain, as it reduces the need for manual processes.
4. By reducing the cost of storing and managing inventory, fast moving stock helps lower business operating costs.
5. It improves customer service, as you can assure customers of timely delivery of items.
Prerequisites of Fast Moving Stock
Tracking fast moving stock can be more accessible with these methods.
- Analyze historical data: Review past stock movement data to identify trends to anticipate which items are in high demand.
- Track customer demand: Monitor customer orders and preferences to determine which items are being purchased the most.
- Analyze inventory levels: Track inventory levels to identify which items are running low or are in high demand.
Use Cases of Fast Moving Stock
Suppose you are holding a perishable item, such as produce, that needs to be quickly restocked as soon as it is sold or consumed. This type of inventory must be tracked and monitored in real-time to ensure it is always available. Moreover, you can quickly resolve any delays or discrepancies in the supply chain. For this very purpose, you can use a Warehouse Management System (WMS).