Keeping track of inventory can be a daunting task for any business. One tool that many businesses use to make inventory management easier is a bin card. In this article, we’ll take a closer look at bin cards, including what they are, how they work, and some tips for creating your own bin card template.
What is a Bin Card?
A bin card is a document that is used to track inventory levels. It is typically used in a warehouse or storeroom setting, where items are stored in bins or shelves. The bin card is usually attached to the bin or shelf and provides a quick and easy way to see how much inventory is on hand.
How does a Bin Card Work?
When an item is added to a bin or shelf, the bin card is updated with the item’s information, including the item name, description, and quantity. As items are added or removed from the bin, the bin card is updated accordingly. This allows the person responsible for inventory management to quickly and easily see how much inventory is on hand at any given time.
Benefits of Using a Bin Card
There are several benefits to using a bin card in your inventory management process. Some of these benefits include:
- Improved inventory accuracy
- Reduced inventory costs
- Improved efficiency and productivity
- Reduced risk of stockouts and overstocking
Creating a Bin Card Template
Creating a bin card template is a fairly straightforward process. The first step is to determine what information you want to include on your bin card. Some common information that is included on a bin card includes:
- Item name and description
- Bin or shelf location
- Quantity on hand
- Unit of measure
- Reorder level
- Lead time
Once you have determined what information you want to include, you can create a template using a spreadsheet program, such as Microsoft Excel or Google Sheets. Simply create a table with the appropriate column headings and fill in the information for each item as it is added to the bin.
Tips for Using a Bin Card
Here are a few tips to help you get the most out of your bin card:
- Update the bin card regularly to ensure accuracy
- Train your staff on how to use the bin card correctly
- Keep the bin card in a visible location near the bin or shelf
- Set up a system for ordering new inventory when the reorder level is reached
Conclusion
A bin card can be a valuable tool for any business that needs to manage inventory. By keeping track of inventory levels in a simple and efficient way, a bin card can help reduce costs, improve efficiency, and reduce the risk of stockouts and overstocking. If you’re not currently using a bin card in your inventory management process, now is the time to start!