How’s the accuracy of your inventory? Challenged with changing supply chain requirements and compliance regulations? A solid warehouse management system (WMS) addresses these common challenges and creates a real-time warehouse environment that you can trust.
For any distribution company to grow, they have to excel in every aspect of supply chain execution – management from planning, logistics, fulfillment, optimization, including warehouse performance. A warehouse management system (WMS) is software made to help users improve the efficiency of tracking inventory and supplies as they move through a warehouse or distribution center. It also makes certain processes, such as receiving, picking, and putting away products, faster and more accurate thus optimizing efficiency. Below are some solid reasons to consider a WMS solution:
WMS and Distribution Efficiency
Data Collection: Inventory accuracy and visibility. A warehouse management system can virtually eliminate the tedious data entry associated with manual processing of warehouse transactions and ensures that the data is 100% accurate.
Also, with information that is updated in real-time, warehouse management systems can provide quick, accurate feedback so companies can respond faster to the demands of their customers. Distributors and wholesalers know exactly what is in the warehouse, where it is located, and when it needs to be replenished at all times.
Material handling and productivity. A WMS will direct material handlers to optimal locations for picking and putaway, reducing travel times and increasing throughput.
The WMS Software market grew to $1.4B in 2016 and is projected to attain a Compound Annual Growth Rate (CAGR) of 14.1% between 2017 and 2025 with the global market reaching $4.6B by the end of 2025. Transparency Market Research
Standing inventory. Warehouse management systems enable increased inventory velocity. Combined with improved inventory accuracy, this enables standing inventory to be significantly reduced. With inventory carrying costs estimated at over 20% of inventory value, inventory reduction is a substantial source of savings.
Product loss from expiration. WMS will enforce both first-in-first-out (FIFO) and first-expired-first-out (FEFO) distribution models to ensure that each customer receives a product that matches pull date requirements.
Warehouse management system software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC.
ERP integration. WMS software can instantly and seamlessly integrate all inventory transactions into an ERP system. Real-time integration eliminates manual data entry, increases accuracy, improves planning, and enables shop-floor users to query the ERP system for up-to-the-minute data on production orders, shipping orders, etc..
Customer service – satisfaction. Your warehouse is an important part of your customers’ buying experience. Making sure products ordered are in stock and customers get what they purchased is crucial to providing good customer service. A WMS improves picking accuracy so orders are correct the first time.
WMS also makes organizing and tracking shipments easier through automation. Worker assignments, shipment routes and putaways are all easily managed and tracked. This warehouse automation, up-to-date information and real-time tracking all leads to better accuracy and happier customers.
WMS increases shipping accuracy and reduces the costs associated with meeting customer-specific demands. It enables the user to set customer-specific rules for shipping, lot tracking, pull date, etc..
WMS Solution for Distributors
Many businesses today struggle with keeping up with customer demands and compliance regulations while maintaining costs. Coolearth Software’s Warehouse Management System solution will streamline business processes to save you time and money. Learn more about our Warehouse Management System solutions today!