Inventory Management With Excel
Throughout both good times
and bad, it's essential for you to figure out ways to make your business
operate more efficiently. Given the current business environment, your very
survival may depend upon your ability to reduce costs and boost productivity.
This article will demonstrate how a digital warehouse management system can
help your organization thrive.
Warehouse management systems
(WMS) electronically track and record the movement and storage of inventory and
materials within your warehouse. This allows you to streamline your business
processes. WMS capture information electronically using barcode or RFID
technologies. You gain real-time visibility and control over supply chain
processes like put away, picking, packing and shipping.
Implementing a practical
warehouse management system will enhance your business and supply tangible,
bottom-line advantages. Here are 5 ways an automated system can improve your
performance:
Reduction in Inventory
Levels. A WMS offers you real time visibility into your inventory and an
accurate measure of thing consumption velocity. The ability to establish
min/max levels combined with better visibility should allow you to
significantly reduce your safety stock.
Quicker Order Fulfillment. A
WMS enhances inventory location visibility and accuracy. This saves wasted time
trying to find the ideal item. A WMS also inventory management 2017 provides you the ability to specify
the most effective way to pick items. For example: by order, item, location or
ship method.
More efficient use of
warehouse space. First, less safety stock means more available space. After
that, a WMS enhances warehouse space utilization by allowing rule based
inventory discovering. Things are no longer needed to always be stored in the
exact same location; the system sends workers to an item's storage location(s).
Greater volume items can be designated to forward pick locations with automatic
replenishment based on quantity. Lower volume items can be designated to places
which are further away. Volume based placement allows items to be located more
economically relative to receiving, packing, and shipping areas. This
considerably improves productivity.
Reduced paperwork and delays.
WMS substantially reduces the paperwork associated with typical warehouse
operations. More importantly stock transactions are reported in real time so
sales have greater visibility, accounting can invoice faster, and warehouse
employees are more productive. Reports, tickets and lists are kept
electronically virtually eliminating paper copies.
Reduced error rates. An
effective WMS automates and standardizes processes to eliminate human errors.
Put away locations are confirmed, part numbers are validated against the
orders, and lot or serial numbers can be captured as items are picked. This
validation significantly reduces the costs of errors associated with manual
systems.
Improved customer support. An
effective WMS inventory management with barcode scanning streamlines processes from initial order to shipment to
customers. You may determine product availability and commit shipping/delivery
dates more accurately. You'll also reduce costs associated with returns because
shipments will be more precise.
You can see that these very
real business benefits are associated with automated warehouse management
systems. Given the realities of business today, it makes sense to investigate
how your company would benefit.
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