When it comes to managing a warehouse, accuracy is critical. That’s where warehouse management software (WMS) comes in. A WMS is designed to help warehouse managers and operators keep track of inventory, optimise warehouse operations, and improve accuracy.
With the right WMS, you can save money by reducing mistakes, improving productivity, and streamlining the entire warehouse operation.
Most companies observe around a 25% gain in overall productivity, a 10-20% improvement in space utilisation, and a 15-30% reduction in safety stock when moving from a paper-based system (Westernacher Consulting).
The warehouse management software market is exploding, with new tools and features popping up daily.
G2 surveyed warehouse professionals and found 77% of the organisations are serious about automated warehouse systems and mapping a plan to maximise data-driven performance.
In this article, we’ll discuss how warehouse management software can help save you money through improved accuracy, the benefits of improved accuracy, and how to choose the right tool for your warehouse.
How Warehouse Management Software Can Help Improve Accuracy
Supply chain management professionals, who make up 75% of the industry according to Flexis, seek to improve their inventory management practices and need the simplest, most efficient way to do so.
WMS provides this solution by streamlining warehouse operations and reducing mistakes.
WMS helps professionals track inventory levels, automate order fulfilment processes, and create more accurate and timely inventory reports. It also helps ensure that products are in appropriate locations, minimising the risk of misplacement or incorrect inventory counts.
One of the significant benefits of WMS is its ability to eliminate the need for manual data entry, which can reduce errors, improve accuracy, and save time and money.
The Auburn University RFID Lab Studies found that retailers experience a significant advantage from item-level tagging, as it increases inventory accuracy from 63% to 95%.
For example, WMS, which utilises barcodes or tags to track inventory, can quickly scan items as they enter and exit the warehouse to ensure accuracy.
In addition, WMS improves visibility and control over warehouse operations, allowing professionals to make more informed decisions about inventory levels and other factors.
Benefits of Improved Accuracy in Warehouse Management Software
By improving accuracy in warehouse management, you can reap several benefits. These benefits include saving money, reducing the risk of product damage, theft, and misplacement, and improving warehouse operations.
Improved accuracy can help you better serve your customers and increase sales and revenue.
Specifically, improving accuracy can help you save money by reducing the time and resources spent on data entry, training staff, and managing inventory. Accurate data can also help you identify inefficiencies in your processes, allowing you to make corrections and improvements.
In addition, accurate data is essential for ensuring that your warehouse operations run smoothly. It can help you make better decisions about inventory levels and other factors, ensuring that you always have the right products in suitable locations.
Finally, accurate inventory counts are crucial for customer satisfaction.
According to G2, wrong product packaging and delivery cause 17% of inventory mistakes that lead to lost customers.
You can prevent overselling and ensure that your customers get the necessary products by providing accurate inventory counts. This can help you build customer trust and loyalty, ultimately increasing sales and revenue.
How Improved Accuracy Can Help Save Money
Did you know that improved accuracy can significantly impact your bottom line? The closer you get to 100% accuracy, the better.
Accurate inventory counts allow you to save money by avoiding excess stock and storage fees for unnecessary items. They also help you prevent the loss of valuable items due to misplacement.
In addition to saving money, improved accuracy can help you save time and resources. By reducing errors, you can reduce the time and effort spent on data entry, training staff, and managing inventory.
So, take into account the value of accuracy in warehouse management! It can genuinely make a difference for your business.
Accurate data is vital for making informed decisions about inventory levels and optimising your warehouse operations for maximum efficiency.
In fact, according to the Robotics Business Review, efficient warehouses are 76% more likely to achieve inventory accuracy of 99% or higher, 36% more likely to reduce labour costs by an average of 3% per year, and 40% more likely to ship orders within one day of placement consistently.
By maintaining accurate inventory counts, you can minimise the risk of stockouts and ensure that you always have the right products in suitable locations. Investing in accurate data is a surefire way to boost your warehouse’s efficiency and drive your business’s success.
How to Choose the Right Warehouse Management Software
When choosing the right warehouse management software for your needs, there are several factors to consider.
First, you’ll want to consider the tool’s features and capabilities. This include:
- Inventory tracking allows you to monitor inventory levels and automate order fulfilment processes.
- Order fulfilment: This enables you to quickly and efficiently process orders and ensure that the right products are shipped to the right customers.
- Reporting and analytics: Generates detailed reports on inventory levels, order fulfilment, and other metrics, helping you identify inefficiencies and make better decisions.
- Mobile capabilities: Allows you to access the tool from any device with an internet connection.
You’ll also want to consider the pricing structure of the tool too. Some tools offer a subscription-based model, while others use a one-time fee. Choosing a device that fits your budget and provides the features you need is essential.
Remember to think about customer support when selecting your warehouse management software! Choosing a tool that provides reliable customer support in case you encounter any issues is crucial.
Access to a team of experts who can help you troubleshoot and resolve problems quickly is essential for maintaining smooth warehouse operations. So, choose a tool that prioritises customer support and has a track record of helping users resolve their issues efficiently.
In summary, a WMS can save you money by improving accuracy in your warehouse operations. This helps streamline operations, reduce errors, and maintain accurate inventory counts. It also enables you to identify inefficiencies in your processes and make better decisions about inventory levels and other factors.
To ensure that you choose the right WMS, consider the tool’s features and capabilities, pricing structure, and customer support. By taking the time to evaluate these factors carefully, you can find a WMS that saves you money and improves accuracy in your warehouse operations.
If you’re looking for a reliable and cost-effective warehouse management solution, Clarus WMS can help you save money at your warehouse.
Clarus WMS is a cloud-native WMS that offers a range of features and tools to help you manage your warehouse, including inventory tracking, order fulfilment, reporting, analytics, and mobile capabilities.
We offer reliable customer support, so you can rest assured that your warehouse operations are running smoothly. We also provide a range of integrations that allow you to connect other systems and services to your warehouse easily.