Warehouse management is an essential part of today’s rapidly growing logistics world. The demand for an omnipresent, dynamic channel facilitated by the growth of eCommerce ventures has made optimized supply chain management absolutely necessary. If you’re thinking about starting a product-based business, you must know what a Warehouse Management System is, and how advantageous it can be for your organization.
Without a Warehouse Management System, it becomes next to impossible to run an optimized supply chain, and by extension, affects your ability to meet your customers’ demands. If you’re uninitiated, don’t worry, you’re in the right place – as, in this post, we will be explaining everything you need to know about Warehouse Management Systems.
1. What is a Warehouse Management System
Warehouse Management System (WMS) comprises software and several processes that allow businesses to stay efficient in managing their routine warehouse operations. It offers visibility to your inventory, optimizes pick & pack, and enables your organization to meet consumer’s demands faster and with accuracy.
By keeping track of your inventory, and the orders to be fulfilled, a WMS will be able to improve on several aspects of your warehouse logistics. It will be able to trace materials as soon as they’re ordered, display low inventory alerts (enabling you to ensure you avoid stock out losses), enable optimal packing & put away, and offer unparalleled levels of scalability. Apart from this, it can optimize your warehouse costs by optimizing storage spaces and enable efficient movement of inventories and personnel.
2. Why Does Your Company Need a Warehouse Management System
A WMS is an important cog in the success of your supply chain. A competent WMS will often be the extra edge that your organization might need to position itself ahead of its competitors. Don’t believe us? Let’s take a look at some of the advantages.
1. Fast Inventory Turnover
The last scenario a business wants to face is being in the position of selling a product the market loves but running out of inventory while their customers wait. With real-time inventory records, it becomes next to impossible to run out of stock. Stockout costs, like the premium paid for emergency orders, can be avoided with WMS.
Contrary to popular belief, shortages are not the only inventory-related problem a warehouse might face. Too much inventory is a significant cost drain, which will also lead to decreased revenue in an organization.
With the help of a WMS, you can achieve fast inventory turnovers, i.e reduce both stockout and carrying costs, by ensuring that the inventory spends as little time as possible in the warehouse. You don’t have to worry about locking too much of your cash flow in the form of inventory or face the wrath of unhappy customers.
2. Customer Service
A WMS reduces paperwork, streamlines the order fulfillment process, enabling you to communicate accurate (and more importantly, fast) delivery dates. Your customer can keep track of their orders, which ultimately reduces complaints.
3. Optimized Labor
Though the process was slow, the warehouses of yesteryears were able to sufficiently meet the demands of the customers. But in order to achieve optimal results, they had to invest more in labor, which significantly increased their warehousing and storage costs. With a WMS, not only will you be able to reduce the labor required, but you will also be able to reduce labor inefficiency.
4. Warehouse Space
Optimizing warehouse space has some obvious business advantages, and those are compounded so if you’re operating in a limited space. If you try to optimize manually, it can be easy to lose track inventory location, and thus, make optimization a nightmare. With WMS, not only can you optimize storage locations, but you’ll also stay on top of your inventory at all times.
3. How BCI’s mobiVUE warehouse management system can help your business
Bar Code India is positioned in a unique way to serve your business’ supply chain solutions. Being an industry leader and having served a list of star brands like Bata, Canon, Domino’s, Blue Star, Shopper’s Stop, and DHL, among others, we believe we can take your business to the next level.
With the help of BCI’s mobiVUE WMS, we can help you bring
- 100% inventory visibility
- 100% Traceability (Man, Material, Machine, and Methods)
- Increase Storage optimization by 20%
- Increase effective user management by 17%
- Increase Order Fulfillment speeds by 12%
You don’t have to take our word for it. Here are a few case studies demonstrating how successful we are.
Ready to get started? Contact us, and let us demonstrate how we can delight you, by delighting your customers.
Case studies
If you want to know more about What is a Warehouse Management System, and Why Does Your Business Need One?, go through the case studies here.
