Warehouse Management Solutions - Bar Code India

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3 Ways WMS Helps You Increase Profit and Reduce
Costs within Your Warehouse
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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.
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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
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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 items
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 products 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.
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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-tim
e (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.
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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.