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Maximizing Warehouse Efficiency with a WMS for Retailers

  • June 19, 2023
  • 8 Min Read

Management Guru, Peter Drucker very aptly said, “If you can’t measure it, you can’t manage it.”

It remarkably brings out the nuance and importance of Warehouse Management System (WMS) in today’s business; which is no more dependent on geographical boundaries and neither restricted to neighborhood market for growth and expanding revenue. It has grown far and beyond with retailers witnessing changing parameters in customers’ demand and preferences. They want more flexibility in purchasing power and looking for freedom in where, what, when and how (3Ws & 1H) to purchase. With its out-an-out approach, a well-integrated WMS system is a solution to this challenging situation. it provides support and maximizes warehouse efficiency for front-running organizations, who are ready to embrace cloud-based solutions for better ERP system.

It doesn’t matter whether it is about small or big business, a hold on data always helps is measuring and managing even a small setup. The only and most beneficial advantage of installing cloud-based system is, it reduces manual interference, reduces silos and brings down cost. If the whole process of data collection and analysis is automated, it can prove to be very helpful even for someone running an NGO. The synced apps can evaluate the volume and quality of service being offered and check if it is as per with the initially planning or has it changed the course mid-way.

To understand it more vividly, suppose there is a party and a party planner has been hired to execute the work. Unless the planner knows about number of guests, their expectations, and other requirements, it would be a challenge for the planner to achieve the desired outcome in an efficient way. Chances of both over stocking and being stock-out are equally high. The former can increase the cost whereas latter can lead to mayhem and an unsuccessful party. The pleasure would turn into chaos and dissatisfaction.

For success and staying ahead of the competition, relation between the retailers and the consumers, need to be two way and transparent.

Let us check out ways in which a technically sound and efficient cloud-based WMS can maximize warehouse efficiency for retailers and contribute in achieving transparent, resilient and sustainable supply chain.

1. Inventory Management.

Automated WMS establishes an interface between a retailer’s multi-modal channels of supply chain. A Real-time inventory visibility, ensures retailers are aware of ups and downs in the inventory chain. The peak and valley in the demand of the stock can help in predicting revenue model and distributing or using the inventory in the most profitable manner. Getting a stock of warehouse inventory movement is mandatory for better planning, executing and taking the business to the next level. Like with the help of data analytics, an algorithm can be prepared to minimize dead stock, receive on-time alerts on batch/expiry of the stocks in the warehouse for better management.

2. Better Utilization of Space.

Many small businesses who have recently adopted both online and offline platforms to widen their business, to them WMS solution has proved to be quite beneficial. These retailers mostly use 3PLs for stocking and delivery due to lack of space, and to optimize space at their own warehouse, most opt for virtual stocking. Both these types of stocking of items can be integrated through scan-based technology. It offers easy location of inventory, minimizes safety hazards, reduces silos that occurs due manual labor and optimizes available shipment options.

3. Forecast & Plan Revenue Model.

Market is never predictable but a tailor-made WMS allows to study a pattern in the consumer behavior. There are peaks and lows in demand, a retailer should be prepared for those days and situations. Scheduling reminders, checking on stocks to prevent stock-outs or over stocking of expired items are done in the most efficient way with RFID technology. The real-time alerts on dashboards over logistics operations for inbound and outbound inventory, provides enough data to get connected with efficient logistics partners for quick and cost-effective last mile delivery.

4. Tracking of Products.

With WMS technology, the team can locate items individually along with their complete counterfeit and details about procurement, date of manufacture etc. This makes ERP more efficient as it is convenient to manage day-to-day business in a shorter period of time. This ensures product compliance is at par with regularities of delivery location, improves risk management, and there is an account of the activities for review.

5. Interactive Dashboards.

Real-time inventory visibility enables real-time reports and performance dashboards, which measures performance and operational KPIs of items. The interactive dashboards also reduce shipping errors as accurate information can be shared about shipping instructions of items related with temperature maintenance and other minute requirements. This improves consumer satisfaction and gives higher return on investments (RoI).

Advatix Cloudsuite™ Retail: Seamless Retail Solutions for Today’s Businesses

Advatix Cloudsuite™ Retail offers comprehensive solutions that enable businesses to sell anywhere and fulfill orders efficiently from their retail stores. By seamlessly integrating with your point-of-sale (POS) system, leveraging local, regional, and national carriers for shipping, and optimizing inventory management, our platform empowers you to enhance customer experience, grow revenue, and ensure product availability.

• Customer Experience

Deliver an exceptional omnichannel experience by seamlessly bridging the gap between your online and offline stores. With same-day fulfillment options, customers can enjoy a convenient and consistent shopping experience across various channels.

• Scaling Your Business

Leverage the power of key data insights to scale your business effectively. Our platform provides valuable analytics on products, orders, inventory, and returns, enabling you to make informed decisions. Expand your reach by selling on multiple sales channels, driving increased revenue and growth.

• Product Availability

Ensure optimal product availability through our advanced demand planning and replenishment feature. By utilizing real-time inventory management, you can accurately forecast demand and efficiently manage your inventory. This empowers you to minimize stockouts and maximize customer satisfaction.

With Advatix Cloudsuite™ Retail, you can streamline your retail operations, boost sales, and enhance customer satisfaction. Experience the benefits of a centralized system that seamlessly integrates online and offline retail, enabling you to thrive in today’s competitive marketplace.