According to Inbound Logistics, “Visibility is knowing where inventory is at any moment. But it is also actionable information that can help support customers and be applied to myriad touch points along the supply chain—from supplier to service provider to end customer—to remove redundancies and improve processes.”
Finding ways to tweak your processes in order to reduce your costs will always help your bottom line. Taking advantage of new technology has become easier than ever. What steps can you take to save money?
Amazon is, without a doubt, the industry leader in order fulfillment. They have taken the inventory management process to levels never seen before. Their goal is to make sure every customer has a positive experience and, in order to do that, they have to be in a state of constant improvement.
In simple terms a Warehouse Management System (WMS) is a software application whose purpose is to control the daily operation of a warehouse. Essentially a WMS focuses on shipping, receiving, putaway and picking of materials and product. A Warehouse Management System could stand alone as a single application or it could also be part of a larger system. Some WMS software is so complex that companies will hire an entire staff dedicated to operating and maintaining the system.
When it comes right down to it, the main reasons for implementing a Warehouse Management System are to:
In the good old days, inventory was tracked by paper and manual labor.
The purpose of implementing a warehouse management system (WMS) is to increase your ability to track your inventory, increase your company’s profitability, and increase your customers’ satisfaction. A good system should have the potential to;
The old retail supply chain model has become outdated and inefficient. Customers still enjoy the ritual shopping excursions and 95% of customers transactions still take place in a store. But customers are becoming more technology savvy and the next generation wants so much more. And what they want varies from store to store, even within the same industry. Omni-channel Fulfillment is creating a system that brings your product and your customer together in multiple ways within the existing business structure.
When it comes to warehouse management, no one knows your system or your needs better than you do. So it naturally follows that at some point or another you’ve probably had this thought: “How hard is it to build a warehouse management system? I have an IT team on board, and they’re familiar with the business, so we can do it ourselves.”
In that estimation, you would not be incorrect at all. Yes, you can build your own system, but at what cost? Is it the right move for your business? And the most cost effective one? Those are the key questions to ask when considering your best options for a warehouse management system.