2024 SHQD Mid-Year Inventory: Enhancing Operational Efficiency and Inventory Management

On June 30, 2024, SHQD conducted a mid-year inventory with the company's managers and functional staff. Effective inventory management is essential for ensuring smooth production and operation, reducing inventory and cost risks, and enhancing the enterprise's competitiveness in the market.

The day commenced with a rallying speech by the Minister of Personnel, CFO, and COO at 8:00 a.m., followed by the division of over 70 functional staff into 8 groups for the inventory. Teams meticulously examined various warehouses and production areas, such as the plastic and sheet metal finished products warehouse, raw materials warehouse, and production workshops. Their goal was to reconcile inventory lists with the actual quantity counted.

Challenges arose during the inventory, plastic injection molding workshop, as a part of our company's great capacity, is still in production until the inventory, resulting in a lot of items in the workshop has not yet had time to enter the stock, which brings a certain degree of difficulty for the inventory. At the same time, some of the finished products were to be shipped, which required the inventory staff to improve efficiency and accuracy to ensure that the 600 work trucks' goods were shipped out on time.

Following the inventory, department heads participated in a summarization meeting to address any issues directly with the responsible individuals for immediate rectification. This biannual inventory proved crucial in accurately assessing the enterprise's inventory status, identifying risks, and setting the stage for optimized operations in the second half of the year.