It’s 2021. If your business is still dealing with lost or untraceable inventories, it’s very likely that you aren’t using innovative warehouse management software (WMS) or systems.
Successful businesses in the E-commerce and retailing field rely on WMS to manage the orders, delivery locations, order status, and more factors for all the products in the supply chain.
However, there are still many businesses that are operating with traditional methods. This leads to a number of challenges such as:
poor inventory management
poor customer service
longer times in a lead generation
more errors
data inaccuracy
…and many more.
WMS systems are the solution to these challenges and enabling transparent communication between warehouses and clients. These systems also enhance the efficiency and profitability of the business, while reducing safety concerns.
What is Warehouse Management?
Warehouse management is the process of controlling the regular warehouse operations. These operations include receiving orders, shipping of products, management of inventory, picking up returns, and ensuring that all these things run optimally.
What is Warehouse Management System (WMS)?
To facilitate centralized management of tasks throughout the supply chain, most businesses use automation tools or software called Warehouse Management Systems.
Such automated WMS software helps in keeping track of the items, from the time it arrives till it is shipped to the distribution centre or the customer. An effective solution to address the key challenges faced by most E-commerce players and distribution firms today, WMS has several advantages over the outdated methods of management.
Why Do Businesses Need Warehouse Management Systems?
Optimize Operational Costs & Space
The right WMS has the potential to help you optimize the use of floor space and labour, as well as find the right placement for each item. It comes with algorithms to decide how to utilize the space optimally. For instance, placement of right products on a premium floor rather than keeping things randomly.
The systematic placement of products can make it easier to find the required ones whenever needed and save time & resources from excessive product movement. This can substantially reduce operational costs and time.
Furthermore, these algorithms are also great for facilitating proper rotation of materials, such as last-in, first-out (LIFO), first-in, first-out (FIFO), first-expired, first-out (FEFO), etc.
This is a great way to further save on costs. For example, if some products are on the verge of expiry, then these can be arranged in a FEFO approach. This will save the products from getting expired and wasted.
Effective Staff Management
As mentioned above, WMS enables proper structure for the product placement at the workplace. Apart from saving on operational costs, it also boosts the employee spirit and enables goal-setting for the managers.
When the employees know the location of the products in the warehouse, they can find it easily, rather than putting in efforts every time in searching. This makes the task allocation easier for managers when they know the time required to fulfil a request.
Moreover, managers can then set goals for growth, measure it, and improve things to stay competitive in the market.
Better Customer Service
WMS reduces the inventory paperwork by turning the reports, pick & move tickets, and packing lists into an electronic form. It also streamlines the processes of showing product availability, order status, and delivery.
This way, it becomes easier to determine the delivery dates, which reduces customer complaints and improves their experience.
Visibility of Inventory Levels
To improve the inventory management of the warehouse, it is essential to first get visibility into inventory levels, i.e. to gain complete control over it.
When there is a lack of control and visibility, the warehouse carries additional stock of products which may result in a decline in cash flow. The warehouse may also run out of stock for some products, which is even worse, causing backorders. Backorders negatively impact customer experience.
What WMS software does is enable improved inventory visibility using barcode scanning, RFID, location tracking, etc. As a result, the product movement becomes transparent, from the time it arrives at the warehouse, reaches the floor, and shipped for delivery.
Better Control Over Stock
The stock in a warehouse is consistently on the movement. It comes from several directions and then moves to distinct directions. Many times, it becomes a bit confusing for businesses to control the movement.
It’s not an easy task to know the location of each product. This may, sometimes, lead to the loss of the product. Here, the warehouse management software will enable better stock control, so that it becomes easier to know the whereabouts of the products and retrieve them whenever required.
Improve ROI
Using a reliable WMS can help businesses optimise multiple aspects of their warehouse management and boost their business sustainability, sales and overall profits. As mentioned earlier, it reduces operational costs, optimizes the time required by each employee to manage tasks, and save on costs.
A WMS not only helps in improving sales but also to improve customer experience and sell faster. These are indications of business growth and rise in return on investment (ROI).
ERP Integration
The best WMS software integrates well with the ERP system and existing business management tools. This integration means that businesses don’t have to do certain things repeatedly, once on WMS, and then on other systems, saving time.
Additionally, some warehouse management systems also help businesses to stay in compliance with the ongoing supply chain regulations. Other benefits of ERP integrations include:
Real-Time Data
Visual Workflows
Faster ROI
Automated processes
Single source of information
Supply chain optimization
The above-mentioned reasons are enough to prove why businesses today must be using WMS software. It is the best possible way to streamline multiple processes in a warehouse, such as:
streamlining warehousing processes
automating mundane and repetitive tasks
improve customer experience
increase sales
drive business growth.
While choosing the WMS for your business, it’s important to first evaluate the requirements and compatibility with the current infrastructure. The sooner you opt for a WMS system, the sooner your business will reap the rewards.
Unicommerce: The Leading Warehouse Management Software
Unicommerce currently supports 100+ marketplaces, carts, logistics providers, ERP & POS systems and is the first choice of over 10,000 brands, sellers and retailers to be their Warehouse Management Solutions provider.
Unicommerce allows multiple technologically advanced warehouse management solutions such as handheld, FIFO, batching, cycle count, etc., and continues to evolve its offering in this regard.
Effective warehouse management translates to having the right amount of the right product at the right location delivered just in time to satisfy customer needs at minimum cost and Unicommerce is capable of imparting that for your business.
The advanced feature-loaded WMS by Unicommerce has been proven to help you to effortlessly achieve:
- Higher Sales & Margins
- Lower Operating Costs
- Hassle-free Management
- Reduced Manpower Cost
- Improved Data Visibility
- Fast Implementation
With such advantages and flexibility, Unicommerce is the ultimate fit for your Warehouse Management needs.
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