Warehouse Management Solutions - Bar Code India

1. 3 Ways WMS Helps You Increase Profit and Reduce Costs within Your Warehouse

2. The omnichannel and warehouse management system (WMS) market in India is predicted to grow to USD488 million by 2024, at a CAGR of 16.2%, thanks to rapid e-commerce, loosening FDI regulations, and rising technological adoption. Warehouses need to be intelligent, effective, and automated due to the demand for quicker responses and the need to manage a greater number of stock keeping units (SKUs) with fewer errors. The speed of sortation, throughput, and various other factors should be taken into consideration when choosing an automated warehouse management system (WMS). A WMS helps businesses gain complete visibility into their inventory while managing their warehouse operations and guarantees that businesses are run as effectively as possible by providing better control over warehouse operations such as order fulfillment, picking, putting away, and receiving. Utilizing a good WMS results in improved material handling, cost savings, worker productivity, and shipment and inventory accuracy. The functionality of a WMS can differ based on needs, such as picking, packing, and shipping, or it can be more sophisticated and manage material handling or yard management.

3. What are some features of a well-designed WMS? While the functions of a WMS deployed in a warehouse can differ as per specific use cases, there are certain features that every good warehouse management system should have. Most WMS solutions are equipped with features such as real-time data and reporting capabilities, the ability to track inventory levels in real-time, the ability to manage and optimize picking, packing, and shipping processes, and the ability to optimize the use of warehouse space, including storage location management and slotting optimization. Some additional features that make a WMS more efficient are scalability, easy integration with existing ERP for a seamless flow of information, mobile compatibility and an intuitive user experience. Increasing profits and reducing costs with an advanced WMS A warehouse management system (WMS) can help increase profit and reduce costs within a warehouse by streamlining and automating warehouse operations. This can be achieved through features such as:

4. 1. Enhanced Inventory management WMS software uses barcoding, serial numbers, and RFID tags to provide real-time data on your inventory. These techniques enable users to record each item’s entry into the warehouse, its movement on the floor, and its journey from one place to another. Tracking inventory levels in real-time allows for better control over stock levels, reducing the risk of stockouts or overstocking. One of the many benefits of WMS that is extremely beneficial in the event of a recall is increased inventory traceability. The final product’s serial number enables you to trace the item back to its original lot ID and determine whether it came from the problematic batch. Due to traceability, you will only need to recall contaminated products and not other products. 2. Optimize expenses A well-designed WMS lowers operating costs in a number of different ways. To reduce waste, this kind of system determines how to use labour and space most efficiently. In order to optimise the flow of your warehouse, WMS software can help you decide where to store specific materials, goods, and pieces of machinery.

5. Warehouse management systems frequently support both FIFO and LIFO principles, giving warehouse managers the freedom to manage their facility as they see fit. While LIFO permits positioning shelves against the walls for more space, FIFO ensures that expiring and perishable items are chosen first. Due to its flexibility, users can set up their warehouse to operate at maximum efficiency, which helps them save both money and time. 3. Utilizing demand forecasting Just-in-time (JIT) inventory management, a practise in which stock levels are kept low and product moves swiftly through the warehouse, is another advantage of a warehouse management system. Your warehouse receives inventory “just in time” to fill an order, as opposed to keeping it on hand for extended periods of time. Despite the complexity of this process, a balanced, just-in-time inventory can be easily achieved with the right warehouse management software. Accurate demand forecasting is the first tool required to keep a just-in-time system operational.

6. A WMS offers forecasting to produce the best inventory levels possible to satisfy demand without underestimating or overestimating it. As a result, carrying costs for safety stock are significantly reduced. Utilizing just-in-time warehousing can also cut down on scrap and waste associated with perishable goods. To Conclude A good WMS can help increase profit and reduce costs within a warehouse by streamlining and automating warehouse operations, giving businesses a significant competitive edge. Designed by a team of experts with 25+ years in the field, with rich knowledge and a deep understanding of the nuances of warehouse processes, mobivue WMS is a lean, agile future-proof solution that uses the latest technology to enable easy migration to different devices. It is designed on an API-based architecture that allows connectivity to different warehouse control systems and has the ability to pass orders or picklists to a range of external systems. If you want to know more about EVO Warehouse Management System, please feel to reach out to us here for a quick chat to understand your pain points and how you can benefit from this solution.