If you feel that a warehouse is one part of the business that can be neglected, it shouldn’t be. Indeed, without great fulfilment and warehouse efficiency, efficiency in other areas cannot mean anything. No matter how high-end or low-end a product is. If you cannot deliver it to the customer on time and correctly then it will not work. This is why almost three-quarters of retailers have warehouse management as a focus for their business this year. But this comes with challenges, especially during periods of peak and in terms of affordability. For retailers, an effective warehouse management system is now about doing more with the same or less resources, which is not always easy.
Implementing the best Warehouse Management System (WMS)
For a warehouse, efficiency and accuracy are key. It now fulfils a range of roles and reflects the health of the business. To handle orders efficiently, it is vital that the system knows how much is available in stock, where it is and any other detail important for the supply chain journey. 50% of retailers fear a loss of sales through not having a fit for purpose WMS. Implementing a good system is therefore critical to stay on top of the industry. And to compete both with close peers and with retail giants.
“For a growing business, WMS-driven efficiency and process development is not just about managing the warehouse function,” says The Cotswold Company’s Paul Wilson. “It also provides assurance in committing resource/investment towards supply chain, marketing and other key areas of strategic growth,” he says. A good indicator of how well a Warehouse Management System is doing is to look at how well things are going at peak times and how it copes with changes in demand.
Coping with Changes and New Models
Since nearly a quarter of retailers have volume increase of 50% or more at peak, that means that being able to cope with change and to adapt is vital. The need for a WMS and the advantages offered by a cloud-based solution can be very useful for unexpected situations. Many retailers admit not being very well-prepared for something out of the ordinary. But to be prepared for business change and new models is also very important. Considering major changes such as moving to international markets or new distribution models should be a priority. Indeed, retailers need to be able to react fast. And to be open to new opportunities is vital too. One in five retailers makes more revenue from their space by freeing up spare warehouse capacity for third-party revenue when they are not busy.
At Fulfillment Logistics, warehouse management is at the heart of everything we do. We make sure that we deal with our clients’ orders in the most efficient and cost effective manner.