Track Expiration Dates For Products In Your Warehouse

Track Expiration Dates For Products In Your Warehouse

Tracking expiration dates in a warehouse is critical for ensuring product quality, compliance with regulations, and maintaining customer trust. Proper tracking can help prevent losses due to expired goods and improve overall inventory management. In this article, I will explain why it is important, which variables to track, and what columns should be included in your expiration date tracking report.

Importance of Tracking Expiration Dates

Tracking the expiration date of products ensures that they are consumed or distributed before becoming obsolete or hazardous.

Compliance with Regulations: Many industries, such as food, pharmaceuticals, and chemicals, are subject to strict FDA regulations regarding product shelf life and lot traceability. Failure to comply with these regulations can lead to penalties, recalls, and reputational damage.

Product Quality and Safety: Expired products can pose health risks to consumers, especially in the food and pharmaceutical industries. Tracking a product’s expiration date ensures that only safe and high-quality products reach the market.

Minimizing Financial Losses: Unsold expired goods can lead to significant financial losses. However, by tracking expiration dates, you can identify products nearing their expiration and take proactive measures such as timely sales, promotions, or adjustments to stock levels, thereby minimizing waste and maximizing profits.

Optimized Inventory Management: Tracking expiration dates enables better inventory rotation, ensuring that older stock is prioritized for dispatch, reducing the risk of obsolescence and spoilage.

Key Variables to Track

Here are the most relevant variables to consider when tracking expiration dates:

1. Expiration Date: The most obvious and essential variable, the expiration date indicates when a product should no longer be used or sold. Tracking this data allows for proactive decision-making regarding stock rotation, sales strategies, and disposal.
2. Manufacturing Date: Knowing when a product was manufactured can help with calculating the shelf life and understanding how long it has been in your inventory.
3. Batch/Lot Number: Tracking by batch or lot is crucial for traceability. If there’s a recall or quality issue, being able to identify specific batches affected allows for targeted actions.
4. First-In-First-Out (FIFO) Status: his variable ensures that older inventory is sold or used before newer inventory. It’s essential for perishable items and helps reduce the risk of stock expiration.
5. Savage Day: Savage day refers to the last possible day a product can be salvaged before it is considered unsellable. This day is often calculated based on the expiration date and allows warehouse managers to take last-minute actions, such as discounting or donating goods.
6. Days Until Expiration: Tracking the number of days left until expiration provides real-time insight into which products need attention and helps in planning promotions or discounts.
7. Current Inventory Levels: Monitoring inventory levels for products nearing expiration helps determine if a push to clear stock is necessary.

Columns to Include in Your Expiration Date Tracking Report

Your tracking report should be comprehensive and easy to interpret to manage expiration dates effectively. Here is an extract of the report, followed by short definition of the key columns to include:

Product Name/SKU: Identify the product clearly by name and SKU number for easy reference.

Batch/Lot Number: Include the batch or lot number for traceability and quality control purposes.

Manufacturing Date: Track when the product was manufactured to monitor its age in the warehouse.

Expiration Date: Include the exact expiration date for each product to ensure proper management.

Savage Day: Add a column for the savage day to highlight the last day to salvage the product, triggering action before it becomes unsellable.

Days Until Expiration: This column calculates how many days remain until the product expires, providing a quick snapshot for prioritizing actions.

Quantity in Stock: Monitor the current inventory levels for each product nearing expiration, helping assess whether a push to sell or use the product is needed.

Warehouse Location: Indicate the specific location of the product within the warehouse for efficient retrieval and rotation.

Status: A status column can be used to flag products for various actions, such as “Ready for Sale,” “Discount,” or “Dispose.”

Notes/Comments: This column can be used for additional details, such as specific instructions for handling, quality issues, or promotional strategies.

Conclusion

By implementing a comprehensive expiration date tracking report that includes critical variables such as expiration dates, savage day, and manufacturing dates, you can optimize your inventory management processes and reduce waste. You can generate it with a WMS like Laceup’s, manually or with a spreadsheet. If you want to learn more, give us your information to schedule a meeting.

I hope this article has been helpful to you. I will continue to post information related to warehouse management, distribution practices and trends, and the economy in general. Our channel has a lot of relevant information. Check out this video on the subject.