Warehouse Management Software: Benefits and Significance in Business Operations

Warehouse Management Software: Benefits and Significance in Business Operations

Without an effective warehouse management system, Pfizer wouldn’t have become the world’s largest injectable supplier in 2021. From storing and transporting to distributing COVID 19 vaccines all over India, warehouse management software played an instrumental role in managing and tracking the delivery of medicines. Nationwide lockdowns resulted in the blockage of the delivery of offline goods which is why government and local suppliers moved to digital solutions to expedite the process of managing and delivering essential items. 

Before getting into more detail, let’s understand what exactly a warehouse management software is.

What is Warehousing Management Software?

A Warehouse management software a.k.a WMS facilitates effective controlling and managing of warehouse operations. With advancements in technology, most consumers today want to buy and return from the comfort of their place. To fulfill these demands, most businesses have gone digital to optimize the fulfillment capabilities.

A modem Warehousing Management Solution assists in:

  1. Storing & Managing inventory
  2. Optimizing the picking and delivering of consignments
  3. Tracking inventory and advising on replenishment

In simple terms, a WMS offers a transparent solution into businesses inventory and manages the entire supply chain from receiving to distribution of material or products.

Earlier, setting up an entire warehouse management solution was expensive due to the lack of technology and resources. However, with adoption of cloud technology, cloud-based platforms are now being used in the deployment of WMS solutions because they’re fast, portable and have less operational costs.

Now, Let’s head to the various benefits of warehousing management solutions that help in streamlining inventory management processes.

How is the Warehousing Management System better than the Traditional Order management system?

Let’s understand how it can help companies overcome their inventory and warehousing limitations by implementing warehousing management software.

There is no doubt that solutions like Order Management System (OMS) and Enterprise Resource Planning (ERP) systems have warehousing and distribution functions. However, many off-the-shelf solutions offer standard features and often lack critical functions that are compulsory for your unique business needs.

Moreover, if you have multiple distribution centers, it won’t be easy for you to manage all at once if you don’t have warehouse management software. Custom WMS is developed from scratch keeping your unique business needs in mind.  

A WMS can manage activities and functions across multiple distribution centers and gives you an eagle-eye view of the entire supply chain to improve overall efficiency. A Warehouse management software makes it easy to track shipments, visibility of deliveries, and expiration dates of supplies.

Benefits of a Warehousing Management System

A WMS offers a multitude of benefits in comparison to traditional OMS. Let’s go through them one by one.

Receiving Stock

The WMS provides a streamlined process that needs to be followed every time a shipment arrives at the warehouse. From a shipment carrier to a storage area – everything is predefined and the best part is that the process can be customized as per the requirement but the core function is to handle the shipments properly in the minimum possible time with maximum efficiency.

Inventory Tracking

A WMS gives you the ability to keep a tab of all the products and material present in the warehouse. This helps the management team to track if there is adequate stock in the warehouse and when to order new stock to avoid shortages. Moreover, this avoids the use of unnecessary space due to overstocking and ensures resources are well distributed for smooth warehouse management operations.

Slotting for Efficiency

Based on multiple factors like weight, shape, size, and demand, the WMS provides an efficient way of storing products in the warehouse. This ensures that the products are placed in such a way that it takes minimum time for processing of orders.

For instance: Heavier products are placed close to the door and products that are sold together are placed close to reduce picker travel time.

Also, a warehouse management software recommends changes in slot size, item location, thereby improving productivity and efficiency.

Automate Documentation

A WMS automates most of the paperwork process. Hence, eliminating the hassle of dealing with a big pile of papers that require big investment and space. This ensures data transparency at every level in the process where data can be accessed by multiple people simultaneously. 

Reporting

The warehouse management software uses an efficient database like Microsoft SQL and includes a custom report with all the required parameters. Stored data can be converted to an easy-to-understand graphical format that tells you about the current status of stock. How many transactions is each employee doing? Can you reduce the headcount? Is the pick-up path efficient for the picker?

Are you planning to get a custom warehouse management software for your business?

KritiKal Solutions is a technology design house with 18+ years of expertise in developing software solutions. We have helped an array of companies from the automobile, healthcare, agriculture and other sectors in achieving their business goals by developing custom warehousing management software to scale up their business.  
To know more about our services, call us or email us at sales@kritikalvision.ai

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