For businesses to succeed, they need to have good warehouse management as it will reduce warehouse labour costs and enhance order accuracy. Good warehouse management is also crucial for improving customer satisfaction which will positively impact the bottom line. Warehouse management software can assist businesses in meeting their operational needs, and we will look at some features to look out for.
WMS Benefits
Warehouse management software is a technology solution that enables businesses to control and administer their operations from when goods or materials enter the warehouse until they move out. The software ensures that materials move through the warehouse most cost-effectively and efficiently. Using a WMS solution optimises operations in various ways, which can strengthen businesses. We will look at the top benefits.
Manages inventory in real-time
WMS often includes real-time inventory tracking capabilities, which assist employees in knowing what is in stock and where the stock is located. Using the software means the company is less likely to be caught off guard whenever items go out of stock. The staff will also see that a new order needs to be placed and will allow you to replenish inventory in time.
Improves order accuracy
WMS can improve order accuracy as knowing what is in stock in real-time will make it less likely to make errors, such as selling an item online that is no longer available. WMS also assists with fulfilment and reduces the risk of mistakes, like mixing up orders, such as when items intended for one customer go into a package and are sent to another customer.
Enhance staff efficiency
A WMS solution will help your employees conduct their jobs more efficiently, like warehouse scanning systems that assist employees in quickly logging in when an order has arrived. Some of the tools will provide automated stocking directions. Warehouse employees will no longer struggle to determine where an item should go or when they should put away an item, as WMS solutions will provide efficient transparent stocking processes.
Optimises inventory levels
Having insight into what your inventory looks like assists you in optimising your inventory levels. This can assist you in replenishing items when needed, but it can also assist in identifying issues such as overstocking. All this will allow you to take corrective actions, such as reducing the volume of your next order or shifting inventory between facilities so you can maintain optimal levels.
WMS Features
Various aspects of a WMS make it a worthy investment for businesses. This article will detail the top features that your WMS should have for efficient and seamless operations.
1. Seamless integration throughout systems
The WMS solution you choose should be able to relay information to and from your Enterprise Resource Planning to your Customer Relationship Management systems which improves speed, communication and accuracy. If you can have all these features using one solution, it will ensure that you avoid problems when the systems try to talk to each other.
2. Configurability and customisability
A WMS solution should be able to accommodate your business’s unique needs. The software must also be able to configure the mix of features you are looking for and customise any processes and business objects to suit any special requirements you may have when managing all the aspects of storage, distribution and shipment.
3. Multi-level scanning, tagging and labelling
A great WMS solution allows you to program, print and use inventory tracking codes such as QR codes, RFID tags and barcodes. You can use these inventory tracking codes across multiple batches, pallets, items, and orders. The codes are customisable to match your inventory coding standards. The software solution should also prompt employees to check for and apply compliance labelling according to the relevant industry standards.
4. Automated space and resource allocation
A WMS solution should be able to help you make decisions such as human resources and allocate space to incoming goods. You can instantly relate this information to workers to increase efficiency. Advanced WMS solutions will also enable you to make task and space allocations automatically using automated workflows.
5. Stock management features
WMS solutions allow you to choose from various stock rotation requirements. You can also implement methods of stock management such as LIFO and FIFO. WMS also will enable you to manage stock by manufacture date, expiration date, lot number and receipt date. The WMS should account for the stock managed in special operations such as cross-docking operations and company warehouse transfers conducted across several locations.
6. Warehousing analytics
A robust WMS solution should let you track the history of inventory movements to ensure clear traceability, visibility, and chain of custody. WMS must also assist with conducting manual audits, so once you are sure of inventory accuracy, you will also spend less time auditing, giving you more time to improve the bottom line.
A great WMS system should also have the capability to leverage AI tools, as these tools will give you a competitive advantage. This occurs as you can leverage the power of artificial intelligence on real-time data, providing you with deep insights and prescriptive suggestions for how to fix these problems.
Conclusion
Software solutions can be the key to gaining control of your warehouse operations in a fast-paced world where businesses need to meet customer needs at any given time. Look for WMS with the features listed above, as they will assist you in meeting all your operational needs.