When it comes to warehousing there are two obvious issues – one of those is having too much stock and the other – too little. It is therefore essential for any business to be aware of their stock levels, at all times so they can identify both fast and slow moving lines as quickly as possible. Companies need to know which products are likely to run short and which are hurting cash flow.
Without the implementation of a dedicated warehouse management system (WMS system), the success of warehouse management comes down to the vigilance of the operators. However as software and technology develop, warehouse operators are having to manage orders coming from a variety of different channels. This can make it tough for those operatives to understand what stock is actually available and what has already been spoken for in current forward orders.
For senior management looking to generate reports on the performance of their stock, they can use the modules within their ERP system for access to reporting. But to stay on top of every changing demands and trends – reports need to ability to perform in real time.
Access Group recently commissioned a survey in conjunction with Redshift Research to survey 132 warehouse operators across manufacturers, wholesalers and 3PL warehouse services providers. To establish what the challenges are when operating a warehouse, and what does the future look like for warehousing. Space and Stock: The financial frontier, real-time reporting by a WMS provides up-to-date data from initial order, throughout picking, packing and ultimately despatch.
Rolling out a WMS system also allows management to progress to the next step and integrate with business intelligence dashboard modules that can then be used to pinpoint anomalies, trends, seasonal fluctuations and forecast future demands, based on previous data.
Author Bio
Ian Roper – Access Group Divisional Director For Supply Chain Solutions (SCS)
Ian is responsible for driving the business strategy within the manufacturing, warehouse management, wholesale and logistics sectors. With more than 20 years in IT sales and management, Ian brings with him a wealth of experience across a broad spectrum of industries including finance, distribution, transport and logistics, power and utility, service management and professional services.
