The Key Features of Warehouse Management Systems
April 30, 2024
- New Jersey, Florida
- 2023 PackemWMS By Mozym Software
Menu
Better known by its acronym, WMS, a Warehouse Management System is software that helps businesses in retail and manufacturing industries with their operation.
A WMS works to ensure accuracy, efficiency, and streamlined processes across a company’s operations by offering solutions to track inventory, materials, and goods as they are received, palletized, stored and shipped.
Think of it as a warehouse inventory management system, a tool that tracks a product lifecycle and display on-hand and available quantity.
A WMS allows teams to easily visualize the available quantity of an item, locate items in different bins, and eliminate surprising and unforeseen stock shortages that will leave customers frustrated.
Instead, with a birds-eye-view of everything in the warehouse, managers will know when they are running low and be able to communicate with suppliers before it’s too late.
Working with the inventory, employees can easily locate products during picking, and avoid labor-intensive tasks that cause delays, overtime, and errors. McKinsey estimates that companies worldwide spend around $350 billion on warehousing each year.
This investment proves that it is more essential than ever to make the most of operational organization and efficiency at a time when demand continues to increase and storage costs swell.
A good warehouse management software should allow operators to pick products using FIFO (first In first Out), LIFO (last In first Out), FEFO (First Expired First Out), or LQFO (lowest quantity first Out).
In addition to smart picking, WMS should manage items with low stock and trigger smart replenishment for the picking locations to avoid delays and improve overall employees moral.
The right WMS and inventory management software can prevent your business from falling behind and will ensure that you are prepared for any challenges that may lie ahead.
With increasing customer demand, companies must maintain an exceptional order-fill rate. In order to succeed, companies must guarantee efficiency and real-time visibility at the warehouse level in their backend operations.
A WMS can support this effort, ensuring your order demand and inventory are aligned and synched. With PackemWMS, you will benefit from real-time inventory management for e-commerce, as we make our platform compatible with Shopify and other platforms to guarantee our customers can keep up with their business demand on all platforms, leading to long-term success with their stakeholders.
A smart warehouse management software should use EDI standards to communicate with retail stores and vendors to receive purchase orders and submit shipping notices.
It can help you understand your inventory levels in real time by tracking individual items, their movement, and their destination. Using the data provided by this detailed tracking, you can forecast your inventory needs, predict shortages, and ensure you are striking the right balance of in-house stock while remaining accountable for every item that enters and leaves the warehouse.
The benefit of using software to manage warehouse operations is to recommend the best and most efficient locations to pick products from. Supervisors can configure allocation methods using FIFO, LIFO, FEFO, LQFO, and WMS will direct the operators where to pick items from.
With live views of demand and inventory, you will have better insight into which staff and teams you need present and when. You can more accurately delegate tasks and work to reduce bottleneck areas by balancing your workforce accordingly. As a company deeply committed to customer service, we focus on working directly with our customers to ensure their operational leads are fully trained in the software and WMS tech best practices to prevent issues down the road.
This final benefit is a culmination of the previous four and represents the driving force for many companies adopting a WMS. With a thorough understanding of inventory, labor, and order fulfillment, you can ultimately cut costs by reducing waste and eliminating errors that add up and cause delays, expenses, and reputational damage.
Are you ready to transform how your business does inventory?
We take pride in offering tailored support to each of our customers, providing each company with its own contact, so you know we have your back. Take advantage of what our Warehouse management software can offer your warehouse and bring your business operations to the next level.
Contact us today to schedule a consultation with our warehouse management system developers.
You’ll hear back from us the next business day. Better yet, go ahead and put some time on our calendar.