In today's competitive environment, companies are able to make a difference by providing great customers. Companies that offer better customer experience easily outperform their competitors. Great customer experience is not possible for organizations without a well-managed repository. The way to create an efficient warehouse is through planning, persistence, and constant attention. A robust and effective Warehouse Management strategy is needed to maximize efficiency, to optimize staff costs, and to keep things running smoothly.
Warehouse Management encompasses the taking, tracking and storage of inventory, it helps train employees, manages to ship and also tracks the movement of goods.
Warehouse Management oversees all operations aiming to optimize and control the operation and storage processes of the products in the warehouse, from the moment the stock enters the facility until it is sold, used, consumed or moved to another location.
It mainly deals with organizing the warehouse, scheduling workloads, inventory management and executing orders.
The purpose of Warehouse Management is to efficiently plan and control procedures that are essential to run the warehouse by coordinating its processes and activities. Planning and controlling consist of managing the ongoing activities of operations, ensuring its effective execution and the manufacture of products.
Warehouse Management is a component of Supply Chain Management and covers retail order fulfillment, warehousing, inventory management, shipping and distribution. Adopting the Warehouse Management solution allows for a holistic view of what is happening in the different functions of the warehouse, such as received inventory, packed orders, tagged shipments, and other goods movements.
Tracking inventory allows knowing which SKUs warehouses have and their exact location in or out of the warehouse. Inventory management informs when the products in the warehouse are ready to ship the moment a customer orders a product and it helps them to know the best time to order according to the projected volume. As the organization grows, it expands into locations and increases product lines. Because of this inventory accuracy and tracking are more important.
Picking and packing are two basic functions performed in a warehouse. Warehouse Management helps create picking lists for each picker to get items in the most efficient way. For each new order, the selector receives a packing slip for the warehouse storage location of the ordered item and collects all the ordered items at their location.
Once the order is received, it is delivered to a packer who is responsible for placing the items safely in the box, adding the necessary packing materials, and placing a shipping label on it.
At the end of the storage process, inventory should be taken, items should be loaded from the trucks at the loading docks and then stored in a storage place. Warehouse Management provides clear instructions for each user to know how to receive, pack, collect and ship inventories correctly.
Depending on the delivery options and courier services that organizations offer, courier companies take orders from the warehouse to ship packages to their next destination. For customers to track shipments after an order is placed, the warehouse management system should be able to automatically send order tracking information to the store.
Warehouse Management allows monitoring product locations and overseeing supply chains and storage. With this, optimizing inventory and maximizing warehouse space is possible. It helps to make business decisions with the inventory data that is obtained. It provides data on determining which SKUs are best selling or selling fastest, it also enables to get historical data on optimal pricing and stock levels, and more.
For organizations, warehouse and inventory are not so much different from money in their bank accounts, and both need to be expertly controlled. Warehouse Management helps organizations manage their storage processes. It provides various advantages for organizations if done efficiently.
If an organization's inventory counts are down, it results in lost sales and loss of potential customers. Overstocking, as well as closed inventory counts, is a major problem and should be avoided. With Warehouse Management, inventory information can be controlled and the area can be used effectively.
Inventory fulfillment problems are often encountered in a warehouse due to human error. This costs time and money. Warehouse Management reduces human error and helps to correct mistakes.
The Warehouse Management process, which is integrated with the other business processes of the organization, helps get the product needed in the warehouse from the right place and manage the entire supply chain as soon as the customer places an order. With Warehouse Management, a better customer experience is created by tracking any order in real-time.
Warehouse Management allows every employee to be audited. This makes it easier to find lost inventories by tracking the team member that is processing the inventory. Employees work more carefully as they are all aware of this process.
Warehouse Management provides organizations with information about their warehouses and stocks, increasing their productivity and helping them make future decisions. Warehouse Management, which influences future decisions with the data it provides, helps organizations to continuously improve themselves and their warehouses, helping to strengthen the bond between them and their customers.
SAP EWM Consultant
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