6 Benefits of a Better WMS
Improved WMS Software can Combat Supply Chain Issues
Supply chain backlog. It's in the headlines daily and affects everyday life whether you are a consumer or a provider of products. Supply chain issues are crippling product sales all over the world and it’s costing companies big time. These can include late shipments, persistent out-of-stocks, and disgruntled customers, to name a few.
With no supply chain relief in the immediate future, it's more important now than ever to have a good grasp of your current warehouse management system (WMS) software and its capabilities. Is your current software living up to your expectations? A re-evaluation of your WMS software may be in order.
To be the most efficient, and therefore most profitable during and after the supply chain crisis, the right WMS software can help you come out on top. Here are six benefits to having better WMS software for your business.
6 Benefits of a Better WMS (Warehouse Management System)
- Better Inventory Visibility – If your current WMS software is not updating in real-time or constantly experiencing outages, it can lead to painful operational issues. With a more powerful WMSsoftware system from ASCTrac®, you can view accurate inventory information to see what's actually in stock and ready to go during all points of the process. From receiving to stocking to storing, having a clear picture of exactly what you have on hand means you can maintain the appropriate amount of stock, process orders, and ship on time without issue. It also provides valuable forecast information to help you get a jump on reordering stock in ample time to avoid future supply chain issues.
- Lower Operating Costs – If your current WMS software is lacking in one or more areas, it can drastically affect operational efficiency. Why have employees run all over the warehouse trying to locate products because your current software doesn't allow for proper tracking? It wastes valuable time. The right software can lower your operating costs by ensuring that your warehouse space and labor are being used as efficiently as possible. A superior provider like ASC can help you determine proper inventory location, shelving and pallet arrangement, and equipment needed for ideal functionality.
- Optimal Security – Are your warehouse operations really protected through your WMS software? It is vital that your software provides top-level security to thwart any threats to your operations that may create additional problems aside from the current supply chain crisis. A superior system creates audit trails with employee-specific transaction tracking, thus significantly reducing the risk of theft and improving accountability. Software with user-access enhancements allows you to have better control of who has access to different levels of information across your organization.
- Just-in-Time (JIT) and Just-in-Case (JIC) Inventory – Just-in-time (JIT) inventory ensures you aren't holding large amounts of inventory for long periods of time, while Just-in-Case (JIC) inventory imagines the worst-case scenario for your most critical items (think semiconductors or, two years ago, masks and hand sanitizers) so you don't run out. It's a balance that requires forecasting and continually adjusting that forecast as things change. Your WMS software should enable you to set and update reorder levels and to exchange that information in real-time with your suppliers and customers. Whether you distribute sourced products from overseas or are kitting for local manufacturers, if they can't keep you stocked and you don't have products to store and distribute, it will hurt your bottom line.
- Improved Billing Management – Billing tools or modules built right into WMS software or that can seamlessly integrate with third-party apps make the process of managing A/R and A/P a snap. Having a powerful software package like ASCTrac® allows you to manage billing without the inconvenience and added time and resources that are necessary if your current software does not provide this solution.
- Enhanced Supplier and Customer Relationships – Given today’s uncertain supply chain atmosphere, relationships are more important than ever. A superior WMS solution can produce shorter wait times at the docks, including the ability to schedule receipt of shipments, resulting in shorter turnarounds and faster delivery times. You'll improve your reputation for on-time and on-point capabilities, resulting in happier suppliers and customers.