A warehouse management platform and related warehouse inventory systems or modules are designed to do more than just count your inventory. They can provide a series of high-quality benefits to an organisation, its staff, and customers when management knows how to use these tools.
The importance of inventory optimisation cannot be stressed enough for e-commerce and online retail brands. Accurate inventory tracking allows brands to fulfil orders on time and accurately. And as brands grow out of small warehouse space and into larger facilities, so does the need to efficiently manage inventory.
If you’re not already data obsessed, then you need to be. You’ll often need to be able to access and act upon inventory data within a day, or even a few hours, in order to capitalise on every opportunity that you’re presented with.
To understand what’s capable of for your bottom line’s growth, you’ve got to know what functionality is available right now, often at a minimal investment. Here are four ways that a company and its people, from leadership to the pickers and packers, all benefit from introducing a warehouse inventory system.
1. Real-time inventory data
Warehouse inventory systems can show you what you have in stock at any given moment, allowing sales and fulfillment to ensure that you’re always able to meet the orders you have. You also get data on what moves quickly, what sits on shelves for too long, and which items tend to move together.
Visibility, thanks to advanced metrics, can teach you a lot about your business, especially where you might have opportunities to combine products, create new SKUs, or expand inventory counts to meet growing demand.
2. Reduce overhead
While an inventory system can help you know when to grow with demand, it can also cut overhead costs for many businesses. Improvements via a WMS can help you store product better to reduce pick times, change packing practices to speed things up, or reduce the number of customer service agents you need thanks to orders going out correctly and quickly.
Some companies report that they use less equipment in the warehouse too. This means less wear-and-tear on your tools, fewer maintenance needs, and even fewer replacement costs. Increasing your accuracy and efforts through a warehouse inventory system just might make it cheaper to run your business.
3. Enhanced productivity and morale
Inventory and order knowledge can make it easy for managers to plan a workforce’s activity. That planning flows down to warehouse employees who can have a better understanding of their job, how they’re evaluated, and what they need to do to feel like they’re using their time wisely.
Real-time data is a boon to productivity because your staff isn’t worried about trying to do an inventory count in the middle of fulfillment or hunting for the last, misplaced product. They know where things are or if there’s an issue, a WMS provides a straightforward way to flag the problem and have it move up to management, reducing the chance that a warehouse issue is counted against their personal performance. It helps them be more efficient.
Introducing a warehouse inventory system can reduce the stress on your team by making their job easier. When tools simplify work, your team has a chance to relax and take a more organised approach to their work, keeping them safer as well. When a warehouse goes from having accidents to minimising them, morale increases.
4. Decrease in paperwork and manual tasks
If you work in warehouse management, this probably feels like saving the best for last. Warehouse inventory systems, whether they’re a separate module or included in a broader WMS, eliminate a wide range of manual tasks, and that typically comes with a significant reduction in paperwork. Inventory counts are automated and displayed on a dashboard, as are tracking employee metrics. Orders become digital, and so do audits.
Not only does a WMS eliminate the burden that extensive paperwork can cause, but you may even see greater accuracy thanks to automation and less human error. It’s something you really can’t beat.
Optimising inventory can help businesses determine how much stock needs to be reordered and when. It allows brands to remain competitive by taking into consideration seasonal demands and promotional campaigns. By staying on top of the supply and demand variables, you’ll have the required products in your warehouse. And that’s the key to being profitable and competitive. Moreover, your customers will be happy … and so will you.
Taking your inventory optimisation to the next level is possible with our Cloud Warehouse Management System (WMS), will allow you to step up to multi-location management per product. You will be able to segregate your warehouse into bulk and pick slots. The system will determine what you should replenish and which warehouse bay you should replenish from based on rules defined in the software, to ensure that stock is properly rotated and managed effectively, efficiently and with minimal manual intervention.
Speak to one of our team to understand how Clarus’ WMS system can cost effectively support best practice warehouse management processes, better customer service and highly efficient working for a range of warehouse operations with pay per month options and no IT infrastructure needed.
Our platform can scale from a one user, small depot system to a 100’s of user distribution centre operation. The ClarusWMS platform will cost effectively scale with your business based on demand.
ClarusWMS is a UK based supplier of warehouse management solutions with a wealth of industry experience in third party logistics, wholesale / retail distribution, online fulfillment and manufacturing warehousing.