These days, online stores have become popular. Digital disruptive platforms and technological advancements are redefining functional aspects. Logistics and transportation management industry is termed to be no exception. There is noticed significant shift concerning day-to-day operations. Warehouse management methods seem to be a major innovation that has completely changed the logistics industry.
Key functions of warehouse management systems (WMS)
1. Picking and shipping management:
Inventory picking and shipping them to specified customer base is a vital function. Traditional warehouse systems do face numerous challenges like inefficient inventory tracking and missing data. This, results in erroneous and inefficient inventory shipping. With efficient WMS, it becomes easier to select the right product based FIFO or LIFO rules adopted. It is indeed a seamless, cost-effective and robust solution. No more wrong stocking up or incurring costs.
2. Tracking Stock:
A major function involved in WMS is tracking stock inflows within the warehouse. It allows warehouse managers to know stock availability, stock replenishment and processing needs. The managers using WMS can help evaluate product supply vs. demand to ensure replenishing correct amount of stock on time. Robust WMS can help eliminate under or over stocking issues. It also plays a vital role to optimize available warehouse space. Moreover stocks can also be distributed properly.
3. Visibility and Tracking:
Adopting the best supply chain management software is vital for inventory tacking. WMS ensures efficient, easy inventory tacking. It also takes care of order-related information like expiry dates, lot details, UPC and serial numbers. It also solves quickly inventory movement challenges, improves customer experience and reduces additional costs. Businesses can perform cycle counts periodically without their day-to-day operations getting interfered. This in turn, ensures greater optimization and visibility.
4. Efficient inventory management:
With growth in business product portfolio tends to expand. More space will be desired in warehouses to store inventory. Efficient warehouse space management is desired for businesses. Trying to manually acquire it can be a challenging task. Such challenges however, can be overcome by adopting automated WMS solution. The robust system allows warehouse managers to store inventory based on product weight and current demand. Faster turnaround products or heavier ones are to be kept closer to ensure efficient inventory management. It also helps workforce personnel to save their precious time and business resources.
5. Reporting and Analytics:
To take strategic decisions in any business, actionable and data-driven insights are considered to be vital. The WMS offers accurate, robust, actionable insights considering inventory operations. It also tracks inventory outflow/inflow efficiently. Warehouse management team can use JPIs to plan effectively their future action course while taking care of shipping management.
6. Robust customer service:
The ultimate objective for any business is customer satisfaction. Hence, businesses have been striving provide seamless, personalized and custom experiences. This is achieved through process optimization. Customer service can be enhanced when supply chain and logistics management space is concerned. For this, it is necessary to adopt a good supply chain management software. The WMS makes sure correct products get delivered on time to right customers. WMS also ensures customer satisfaction. It attracts new prospects while increasing loyal customer base.
7. Paper-less inventory documentation:
No more are paper-heavy inventory documentation used by online stores. Automated processes enable WMS, thereby eliminating paper-based documentation needs. It also provides the entire inventory procedure with a single window view. It offers anywhere, anytime accessibility features, thus allowing warehouse managers to avail requisite information and data right at their fingertips.
Thus, it can be stated that warehouse management systems (WMS) does offer several functionalities. It becomes essential to adopt the right WMS to suit business needs.