Having outdated inventory information can slow down the order fulfillment process, frustrate customers, and harm your company’s reputation. To ensure you always have current data on your inventory’s status and location, partner with a warehouse that uses cutting-edge, real-time inventory technology.
Understanding Real-Time Inventory Systems
To keep all aspects of the supply chain moving smoothly, warehouse client partners need current inventory data that shows stock levels and locations within the warehouse. In the past, clients had to rely on complex Excel spreadsheets that showed inventory levels at a single point in time. As new orders came in, the spreadsheet data quickly became inaccurate. Nowadays, companies can access constant inventory updates as warehouse employees process orders throughout the day.
Real-time inventory management systems are software programs that keep track of your inventory at all times. During every step in the supply chain process, the inventory management software collects data while warehouse workers move, pack, and ship each product. Warehouse partners can log in to the system and access current data to determine if they need to order more merchandise, stop stocking a product, or clear out excessive inventory.
At FW Logistics, we understand that processing orders and keeping detailed data on inventory is integral. We use a top-quality warehouse management system to give you access to inventory data around the clock. If you’re tired of sifting through Excel workbooks to find inventory information, partner with us.
Benefits of Inventory Visibility
You may be wondering if you really need constant access to inventory tracking data. After all, you’ve gotten pretty good at managing inventory, preventing stock shortages, and avoiding overstock. However, you can never be 100% sure that your shipments will follow the same patterns that they have in the past.
Inventory management systems allow you to make smarter business decisions. When you can access accurate, up-to-date information on your inventory, you avoid unnecessarily restocking items, paying extra to store excess merchandise, and allowing customers to order items that are no longer available.
The main drawback to inventory management systems is their cost. Software, computers, barcode scanners, and identification tags are expensive. However, by partnering with a warehouse with an existing inventory management system, you can enjoy the advantages of optimized supply chain management without footing the bill for a new system. There are many benefits of real-time inventory management systems, including:
- Location tracking: With inventory tracking, your items won’t get lost in the warehouse. Inventory management systems show the current pallet location of your goods. Shipments are processed faster when warehouse employees can easily find your merchandise.
- Consistent stock levels: You can’t always predict what your customers will buy. If your predictions are off and customers purchase an item at a faster rate than expected, the inventory management system will prompt you to order more stock before it runs out.
- Accurate data: With so many moving parts in a warehouse, human error is inevitable. Inventory management systems reduce the risk of error and maintain a high level of inventory accuracy.
- Improved financial decision-making: Inventory management systems keep track of when an item enters and exits a warehouse and how long it’s stored. As a result, you can access accurate storage costs and budget accordingly.
- Reduced overselling: When a customer orders a product from a website, the website notifies the warehouse management system and warehouse employees can immediately pick, pack, and ship the order.
- Improved customer satisfaction: With inventory visibility, you can ensure that customers don’t order out-of-stock products. Plus, orders ship faster when warehouse employees have accurate location and product data to pull from.
- Savings: It’s expensive to store merchandise and fix order mistakes. You can save money by avoiding overstock, reducing lost inventory, preventing order inaccuracy, and ensuring on-time order shipments.
Whether you need picking and packing services, third-party logistics, or short-term order fulfillment solutions, a warehouse management system can save you time and money. Partner with FW Logistics to get access to our top-of-the-line warehouse management system and enjoy the benefits of an optimized supply chain.
FW Logistics Offers Real-Time Inventory Management
If you need a better way to keep track of inventory, manage stock, and improve customer experiences, FW Logistics can help. We offer warehousing, fulfillment, transportation, and logistics services that streamline your supply chain management.
Using a warehouse management system allows us to receive, process, and ship orders quickly and efficiently. Our partners also benefit from our warehouse management system because they can access detailed inventory information they can’t get from an Excel spreadsheet.
Contact us today to learn more about our warehousing services and discover how our warehouse management system can save your business money and ensure customer satisfaction.