A warehouse management system is an application specifically designed to optimize and support warehouse management and operations. Warehouse management system (WMS) involves various processes like asset management, asset allocation, real-time data updates, work scheduling, material management, asset tracking, etc. This application automates all these processes in an integrated manner. The primary objective of a WMS is to provide the users with maximum control and assistance in managing their warehouse operations efficiently. Besides, it also helps them in taking various business decisions that can ultimately lead to the growth of their businesses.
A WMS provides four functions to the warehouse management team. It enables physical, material and logistic network planning, stock supervision, and warehouse inventory control. Warehouse equipment and supplies are managed through the WMS. All these functions and features make it one of the most important aspects of any warehouse management system (WMS).
One of the most important aspects of efficient warehouse management involves the process of asset allocation. The process of allocation of assets to various departments and projects involved in warehouse operations helps in reducing the overall cost and improving customer service. This results in overall growth of the business. For instance, if an organization uses up all its inventory allowance, it will not be able to sell its products efficiently and fully utilize the available stock, and hence will not be in a position to expand its business.
Real Time Data Updates
Another important aspect of warehouse management involves updating information at real time about the performance of a particular department or business project. Warehouse ERP software provides this facility by providing real time inventory and stock updating facility. This in turn helps the management in taking necessary corrective actions for improving the overall efficiency and performance of the warehouse operations. ERP warehouse management solution helps in optimizing storage, transportation and shipping of inventory, and overall warehouse management.
Scheduling and assigning tasks to employees involves processes like payroll, timekeeping, reporting, quality control, training and development, and so on. Each employee is assigned with certain warehouse management processes like receiving, booking, placing, transferring, shipping, picking, packing and storing. This process involves several other processes as well like tracking progress of the tasks assigned to different employees, and quality assurance process. It also involves communication between the staff and management.
Warehouse Inventory Control
Managing inventory is one of the major warehouse operations which needs a sound knowledge of stock management and control. Warehouse ERP software helps in controlling the inventory in the warehouse with effective use of tools like barcode scanning and RFID tagging, and receipt and delivery of goods. Barcode technology is used in RFID tagging of the items as they enter the warehouse. The RFID tags are unique to each item and provide valuable information for quick analysis and re-stocking of goods.
Quick Supply, Low cost, High availability
It is very important to have a regular stock turnover rate of at least 40%. To meet this, warehouse management focuses on inventory management and utilization of space, and keeping an optimum level of employee productivity, and improving customer service. In addition, it is very important to keep an optimum level of quality and efficiency as the aim of the company is to satisfy orders as fast as possible and with maximum accuracy and customer satisfaction. Efficiency is increased when there is an optimized workflow in the warehouse, and all the employees are motivated to do their work efficiently and to meet customer demands promptly.
Electronic Stock Management
Another important aspect of warehouse management is electronic stock management systems. This system includes total stationery and supplies, shelf pricing, and pick and pack systems. It makes tracking and delivering orders easy and reliable. Stock levels can be monitored electronically. The system enables quick order fulfillment, low transportation costs, and adequate internal stock.