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CEO and Co-Founder of Pickrr
Warehousing has always been a mainstay of any business, but with the advent of the internet, the way we store things is changing. Now, warehousing can be a lot smarter thanks to the latest technologies on offer.
With smart warehousing, small and medium business owners can effectively reduce overhead costs while maintaining quality and maximizing efficiency. This is crucial because warehousing costs are often redundant, and decreasing them can help divert company resources to more useful places. According to McKinsey, businesses worldwide spend over 300 billion Euros on warehousing alone!
Intelligent warehousing is simple and efficient inventory management software system that helps businesses track and manage each item in the warehouse from inbound to outbound. It allows inventory managers to define which product information goes where, when, and when to update the information. The system can handle multiple warehouses, multiple items in each warehouse, and different user access rights for individual users.
Given the current competitive scenario, brands need to shift to intelligent warehousing. It helps businesses become smarter, more efficient, and more productive by automating tasks, which frees up resources for other important tasks.
With smart warehousing, businesses can do multiple things smartly, including:
While it is flexible, easy to use, and highly efficient, smart warehousing comprises different components that work together.
ERP (Enterprise Resource Planning): An ERP system generally refers to software that helps manage business operations. It is usually specific to an industry or type of business. For example, an ERP system can help track costs and sales throughout the supply chain from receipt to the sale of goods. ERP systems are also designed to be easily updated or expanded as the business grows and changes over time. This makes it an ideal system for smart warehousing.
Handheld Scanners and RFID (Radio-Frequency Identification) or Bar Code Labels: These are used to help manage receiving, shipping and inventory. Each item is scanned at each stage of the process so that the team can track its status through the warehouse. You can even update inventory numbers directly in the accounting system or ERP using handhelds. On the other hand, RFID are used to track the details of the shipment. Brands can attach these to packages to track them from the manufacturer to the end customer.
Warehouse Management Software (WMS): WMS is an inventory management software system that helps businesses track and manage each item in the warehouse, from receiving to shipping. It can even send receiving instructions directly to handheld scanners. It also lets warehouse managers track all inventory items from the point of origin to the point of sale, from retailer to end customer. This helps identify which products are selling well and those that aren’t moving as fast off the shelf. It also means business owners can ensure that they better grip their inventory costs.
One main reason why smart warehousing is growing in popularity with small and medium-sized businesses in India is that it is a relatively affordable way to manage inventory. As a result, warehouse owners can easily implement the system at any given time and start seeing benefits right away. Here are a few benefits of smart warehousing for businesses across the globe:
Smart warehousing is a viable solution for businesses looking to streamline their inventory management. It can also reduce costs while increasing profits and customer satisfaction. If there are problems with overstocks, lost or damaged inventory, lost track of orders, or delayed shipments, brands can easily solve these problems with smart warehousing.
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Views expressed above are the author's own.
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