A warehouse management system (WMS) is a software application which supports day-to-day operations in a warehouse by enabling centralized management of tasks such as tracking inventory levels, stock locations and order processing. Such Systems are a huge productivity booster for fast picking, more shipping and ensuring lesser errors leading to lower returns. While there is an initial effort required for configuring the system, but once implemented properly, the investment on a WMS system can give very high returns in terms of higher revenues (due to improved seller rating) and lower costs (lesser manpower required, improved productivity etc.)
Inventory management is a big headache for sellers, particularly when a seller has to manage 100+ dispatches every day. Managing the inventory manually, tracking it timely, and updating the stock after each day’s sales is a big and hectic task, and can lead to errors. Any errors in inventory not only result in working capital loss but can also impact sales volume, as the inventory listed on marketplaces is a key factor in determining sales for all online sellers.
Thus, the Fast WMS system manages inventory accurately and can go a long way in managing complex warehouse operations.
Most sellers end up doing ad hoc management of their warehouse, leading to inventory errors, stock-outs, and a lot of mismanagement. It is imperative that the WMS solution you choose allows you to define zones, bins, locations, etc., so that your warehouse can be neatly organized. You can define the zones based on product categories, product velocity (i.e., how fast or slow a particular product is selling), or any other criteria important to your business. Most leading WMS solutions do not have a comprehensive implementation of this requirement, but new-age solutions like FAST WMS SOFTWARE provide the flexibility to manage the warehouse systematically.
With increasing volumes, it is becoming impossible to operate a warehouse manually. Sellers are now investing in deploying Bluetooth-based handheld devices to automate key warehouse processes. They are able to recover the cost of investment in less than 6 months if used with a proper system. FAST WMS supports the use of handheld devices for key warehouse operations and continues to evolve its offering in this regard.
Using manual or traditional systems typically leads to inefficiencies in the picking process, as staff often waste time locating the correct product. Picking the wrong product adds time to replace it and retrieve the correct one, leading to monetary loss. A good WMS solution should include features like picklists and FIFO-based picking to ensure efficient picking. FAST WMS offers picklists to group items efficiently and provides an option to generate barcode labels with a single click, minimizing errors.
Returns are a significant challenge for online sellers, as they add directly to costs. Managing returns properly can improve profitability by 10-15%. The WMS solution should allow you to scan items and identify the order for which the return is received. It should also handle cases where items are not received but need reconciliation. FAST WMS supports these return management features, making it a preferred tool for handling returns.
Due to regular wear and tear in warehouse operations, some stock may not always be in sellable condition. For instance, a stock may be damaged while stored and only discovered during dispatch. It’s crucial that the WMS solution allows for quality checks at every key checkpoint, such as inbound, outbound, and picking stages.
Analytics is a powerful tool that can provide insights to help make key business decisions related to growth, productivity, and cost. Your WMS solution should not only deliver comprehensive data but also present it in an easily understandable format.