Why Invest in Warehouse Management Software?
During a recession, businesses are often concerned with cutting costs and staying within budgetary guidelines. One of the best methods for securing company dollars is by acquiring an efficient Warehouse Management System (WMS). Though software may be costly to purchase, long-term savings are significant. Warehouse Management Software cuts cost and generates profit by improving warehouse operations such as shipping/receiving, inventory tracking, order replenishment and space management.
Shipping/Receiving: Choose Warehouse Management Software that includes inventory shipping and receiving functionality if you are a small or mid-sized warehouse. This function provides knowledge of when goods or materials are received, picked, put away, moved, inventoried or shipped. Does the Shipping feature allow integration with UPS WorldShip or FedEx? Having the integrated feature would save time by eliminating the need to rekey shipping addresses each time an order is shipped out. A receiving component allows order validation to decrease errors that could occur during the inventory receiving process. Imagine how quickly inventory errors would lead to increased expenditure.
Inventory tracking: The warehouse inventory function provides an inside view for goods moved within the warehouse after a physical inventory count is performed. This inventory component tracks goods to a designated location. Also know who has moved an item and the time the transaction was completed. Do you also have a need for lot, expiration date and serial number tracking? If this requirement is an important feature for you, this functionality is available in select warehouse inventory software systems.
Order Replenishment: Another key factor to cutting cost is avoiding inventory overages or shortages. A good warehouse application should allow you to know what inventory you have on hand, instantly. Knowing what materials are available avoids ordering more than you need, and knowing exactly when you need to restock. Some warehouse inventory systems integrate with QuickBooks so that you have a complete order management system.
Space Management: Software features such as sequenced pick and put away, basic cubing, and replenishment and zone picking help organize the inventory receiving process.
Through the use of efficient warehouse management, you will know what goods are received and shipped, which items are readily available, when you should reorder and storage space availability. These WMS features eliminate the need for tracking inventory via paper, so waste is reduced to further decrease the overall cost of running a warehouse. Reduced cost over time resulting from better inventory control equals a very good return on investment.