How efficient is your company’s warehouse? The global storage and warehousing market was valued at over AUD534 billion. Owners and managers of warehouses should take steps to boost the efficiency of warehouse operations. One useful option is a Warehouse Management System that can use technology like cloud storage for inbound, outbound, and inventory activities. Here are some of the main benefits it can provide to your business:
- More Efficient Labour Force
The warehouse system can select the best employee to conduct various tasks based on skill level. This can help save time and effort and reduce the need for functions to be double-checked. Mobile scanning is another valuable feature that can boost worker efficiency and offer improved customer service.
Another important feature is key performance indicators (KPIs) that can evaluate staffing and reduce a warehouse’s operational costs through higher labour efficiency. Providing the best work assignments can also offer space efficiency, which can save your company money.
A WMS can help to optimize warehouse flow. This is through analyzing the optimum use of floor space based on tasks and items. This process helps to reduce the waste of floor space and time required for locating warehouse products. In addition, the management system can also reduce the time required to consume, place, and retrieve products.
Determining the best space to place products and equipment can also lower your company’s operating expenses. This goal is especially important for small businesses, which make up 97% of all Australian companies based on employee size. It’s especially critical for such businesses to streamline operating costs to increase profit margins.
- More Internal Automation
A management system for storage buildings can leverage various automation tech within the warehouse. This includes mobile devices that provide automated work assignments and convert task and activity recordings from paper to digital.
The process increases scalability and provides accurate data. For example, access to the WMS can be expanded using mobile devices.
- Leverage Benefits of Cloud Storage
The cloud can provide benefits for warehouse management related to the speed and efficiency of operating your company’s storage building((s). The history of modern cloud storage dates back to 2006 when Google CEO Eric Schmidt mentioned the term at an industry conference.
The cloud can provide a useful tool for factors like inbound and outbound logistics and inventory management. These are some of the most critical processes for today’s warehouses.
Storing data about warehouse items in a remote location can free up your company’s computing space. This can make your business more efficient by reducing the amount of on-site hardware required.
- Inventory Management
A WMS can provide more inventory visibility. This helps to maintain precise and real-time inventory levels. As a result, your company can estimate supply more accurately. Another benefit is it can reduce backorders that increase customer dissatisfaction.
WMS scanning and automation can track products more effectively. This boosts product visibility at warehouse locations. In turn, this lowers lost and misplaced inventory, which can reduce efficiency and increase operating costs.
For example, it’s critical for your company to track and plan based on demand for specific products. Your company can then make wise decisions about how to make inventory changes based on the market, which can boost revenue and reduce losses.
An effective Warehouse Management System can provide your company with a wide range of benefits. They include ones related to factors like inventory, data, and employees. Ultimately a WMS might make your warehouse more efficient and your company more profitable.