Benefits of an Optimized Inventory Management System
Your business can benefit from upgrading to a warehouse management system (WMS) optimized for your warehouse operations in the following ways:
- Streamlined workflows
- Inventory tracking
- Efficient inventory counts
- Fewer picking and shipping errors
- Real-time inventory reporting
- Minimal paperwork
- Automated reordering
Before deciding on the ideal WMS, it is essential to clarify what your business is looking to get out of upgrading to a new system. To get the most out of the upgrade, your business first has to determine what your business needs are. From there, you need to decide how much money your company will be able to put into implementing a new system. Many businesses make long lists of desires without balancing what they want with what they can afford. Make sure you decide on a solution that facilitates the extent of the benefits you’re looking to achieve.
Analyze Your Existing System
Before you can decide on an optimal solution for your operations, you need to determine why you’re looking to upgrade in the first place. Once you’ve clarified what you want out of your WMS, it’s time to look at how your existing system is underserving those goals. Does your current system accommodate any industry-specific needs or specialized warehouse equipment? If so, you need to be mindful of these factors before deciding on an upgrade.
Talk to all employees whose jobs will be impacted by upgrading your WMS. What would they look to see out of the upgrade? What inventory management techniques do they prioritize? How would an upgrade affect their day-to-day duties? Ensuring that your employees are a part of the decision-making process is critical to a smooth transition to your new WMS.
Create a List
Once you’ve clarified your needs and priorities, it’s time to start shopping around for WMS solutions. The most important decision you’ll have to make is whether your business needs a bespoke management system or a prebuilt inventory management software platform. While a prebuilt system may allow you to get more out of your budget, it may not be tailored to your warehouse operations. If needed, create a list that includes both possibilities.
There are a lot of possibilities for your next WMS upgrade. If you want to make sure your business is considering all possibilities, hiring an experienced logistics or supply chain management consultant will help ensure that you’re getting the full scope of all options at your disposal. Important things to consider include:
- Vendor flexibility
- Usage and license fees
- Technical support
- Implementation time
- Integration with your network
As you narrow your running list down, you’ll be better prepared to make a decision by clarifying what your business prioritizes. You understand your business better than anyone, so you’re in the best position to make a decision on the WMS upgrade your business needs. If you have any questions, [contact] the logistics and WMS experts at FW Logistics today.
