Overcoming Distribution Challenges with a WMS
The key attributes that determine whether your business will survive are efficiency and a healthy profit. Retail in particular relies on a highly streamlined organisation to provide its customers with excellent service. It’s crucial in inspiring long-term loyalty to your brand. However, in today’s commercial sector, you’ll be facing greater challenges than ever before. According to Gov.UK, the UK has almost six million businesses. Yet 4.6 million of them have no employees, making fast distribution and order fulfilment difficult at best. An elite band of just under eight thousand businesses have the resources to employ more than two hundred employees. However, with the integration of a Warehouse Management System (WMS), your business could make the most of limited resources to compete with any rival enterprise. Lets find out how to overcome distribution challenges.
What is a WMS?
A Warehouse Management System is software that can easily be integrated into your business structure. It’s designed to help companies of all sizes effectively manage and control all their daily warehouse operations. It can monitor all aspects of your business administration from receiving goods and materials to the moment your products are dispatched. Highly accurate, real-time analytics and parcel tracking help even the smallest business keep on top of its workload. There are many distinct advantages to incorporating WMS software into your business.
Improved Inventory Management
Being aware of how much stock your business has immediately to hand is a crucial factor in keeping your customers interested in purchasing from your site. A WMS is fully automated to ensure your warehouse operation is efficient from beginning to end. A great advantage is a real-time assessment of your business’ stock levels. Being aware of when popular lines may suddenly run out enables you to reorder to guard against losing customers to your competitors. Combined with a reliable supply chain system your WMS helps you restock with accuracy and speed. It also enables you to quickly offer alternative stock in the event of unavailability.
Continual Tracking
Tracking items that pass through your warehouse can be a demanding task for a traditional procedure that uses manual logging of merchandise. With a WMS, automation is at the centre of your business, enabling you to compete even if you only have a limited number of employees. The sophisticated automation and computerisation of WMS software mean accurate details regarding storage and stock placement. It enables colleagues to swiftly locate even the most rarely ordered items. Being able to ship merchandise as quickly as possible is vital in building a strong base of satisfied customers. With the inclusion of AI tools, your business may even be able to save money by anticipating the lines which may be the most popular shortly.
Third-Party Fulfilment
Data collated by Statista reveals that approximately fifteen thousand e-commerce businesses rely on third-party logistics (3pl). Many online retail stores suffer from a lack of resources such as storage and employees. However, the use of third-party logistics enables order fulfilment to be maintained at a highly efficient rate. Installing a WMS into your e-commerce business has many benefits for 3pl. It enables instant communication and real-time tracking of your merchandise. These features are crucial for online stores where you are unable to personally supervise orders and shipments.
Cloud Storage
WMS software generally has in-built cloud storage. This allows you to monitor all aspects of your distribution network from any location. It allows you to continue supervising your business while travelling to meet new suppliers or attend trade fairs. With an advanced WMS, you can keep control of your business in real-time and even analyse data to help with planning new marketing strategies.
Reducing the Carbon Footprint of Your Business
Sustainability is becoming increasingly relevant in today’s commercial sector. Presenting your business as a responsible operator with ethically sound and environmentally sustainable practices is sure to strike a chord with potential customers. A WMS can help the sustain chain of your business. It helps by streamlining the purchasing procedure from the moment an order is placed until it is successfully shipped. Through automation, your WMS monitors every detail of the process, ensuring speed and accuracy at all times. It also reduces the need for paper receipts and billing. E-commerce is already leading the fight against the effects of climate change through sustainability in business.
Improved Customer Service
Every business occasionally faces the problem of returned goods and dissatisfied customers. However, how you deal with the event is crucial to keeping a customer happy. In traditional warehouse management, returned goods are often left while new orders are prioritised leading to the risk of upsetting customers even more. With a WMS on board, your business has the advantage of increased speed and efficiency in processing returns. Automated emails can also reach out to customers to ensure them that their grievances are currently being addressed. A WMS can help improve your brand’s reputation as a caring business that places customer satisfaction as a priority.
Guarding against Crime
Unfortunately, it’s a fact that some employees succumb to the temptation of theft. According to Statista, there were 5,638 thefts in UK businesses during 2022. Traditional warehousing can often see thefts unnoticed, but an automated WMS is unfailingly accurate and quickly identifies stock discrepancies. A WMS ensures you can protect your profits from unscrupulous employee theft.
Conclusion
Warehouse Management Systems are a vital tool in many of today’s businesses. They can help your business improve productivity, inspire customer loyalty, and increase profit. Accuracy in controlling stock is vital if you want to prevent abandoned shopping carts. WMS software provides real-time updates of stock levels to keep your business relevant to the needs of your customers. The systems should be easy to integrate into your current computerisation programs. They are also generally straightforward to use, bringing immediate benefits from supervising employees to fast handling of returned goods. Order tracking within your premises or via third-party fulfilment is central to the majority of WMS software packages. It’s a vital attribute, helping your business easily overcome distribution challenges.
Author Bio:
Ray Brosnan is the co-owner of Brosnan Property Solutions, a facility management services business.