Different Types of Warehouses and How to Choose the one for your Business
Technology is quickly becoming a vital part of the logistics industry, whether automated picking and packing or inventory monitoring.
As automation grows, it will be crucial for companies to use these tools to grow and cultivate their brand. In today’s fast-paced retail landscape, it’s crucial for businesses to implement a WMS system. This software will not only organize your stock and monitor all stages of order processing but it will also give you a competitive edge over other businesses.
Canary7 WMS is an excellent choice for any growing or established business. It offers smart, scalable, and flexible tools to help you take your business to the next level. In this article, we’ll discuss the future of logistics and how Canary7 WMS will give you a competitive advantage.
7 Benefits of Warehouse Management Systems: How Canary7 Can Help
More and more businesses are leveraging technology to take their business to the next level. Choosing an innovative WMS like Canary7 will allow you to take better control of your inventory, create a streamlined supply chain and more.
If you’re still unsure about investing in a warehouse management system, consider this list to help you decide. Let’s take a look at the 7 benefits of using a warehouse management system.
1. Better Visibility and Accurate Information
One of the biggest benefits of using a WMS is better visibility. With so many products to manage, you need a system that logs all information accurately and also provides full visibility. This way, you’ll know the exact quantity of your stock and its movement.
Modern WMS systems like Canary7 provide real-time data and record accurate details of all your stock, regardless of the quantity. You’ll get a bird’ s-eye view of your products and have all the necessary information on hand to make data-driven decisions.
Such WMS systems use barcodes, RFID tags, and other tracking sensors to control stock and provide critical insights. You can use this information to prepare stock units, set reorder points and avoid long lead times.
2. Optimized Supply Chain and Workflow
Even the slightest hiccup in your supply chain can cause ripples of disruption in the workflow. The great thing about automated inventory management is that it prepares for these problems. When you get instant data, you can quickly identify problems and take quick action to remedy them.
Inventory management depends heavily on how your supply chain works. All stages need accurate data to move forward, from warehouse shipping timelines to production lead times. Modern inventory tracking gives you key insights that help every team member stay on track. With this information, you can reduce inefficiencies and improve overall logistics and workflow.
3. Better Control of Your Inventory
As we’ve mentioned, modern inventory tools are crucial if you want better control over your stock. Modern WMS systems provide accurate real-time data that lets you plan, track and inventory.
With accurate and quick data, you know exactly where your products are and where they will go. You can track their real-time movement to ensure the supply chain runs smoothly.
With this data, you can always keep your customer in the loop about their deliveries, building trust and loyalty. Real-time information lets you scan the warehouse floor to prepare items for packing and assembly.
Your data also tells you how much inventory you’ll receive, how much you have and what items are being prepared to ship. This will allow you to make quick business decisions and restock in case of low supplies.
Many innovative WMS software are designed to help you with real-time tracking. For instance, Canary7’s state-of-the-art WMS software provides accurate data tracking and efficient order fulfillment.
With this software, you can see which SKUs are performing well or track the journey of products from the warehouse to a customer’s doorstep. The best part is that all this data is in real-time, so you won’t have to worry about delays.
4. Optimized Warehouse Space
The warehouse management software you choose should offer flexibility and scalability. These features will optimize the warehouse workflow and make the best use of available floor space.
Your WMS software will conduct an analysis to tell you the best techniques for keeping stock and minimizing waste. These techniques can help you create designated spots for product categories and accessible pathways for picking.
In the end, you’ll have quicker placement and retrieval times, making a smooth workflow environment. Ultimately, all these features will help you reduce operating expenses so you can allocate funds where they matter.
Canary7’s WMS offers agile inventory management that works well for businesses of any size. We understand that no business stays the same during its lifespan, so we aim to provide clients with a highly scalable WMS model with optimized picking and packing strategies. With these tools, Canary7 is the one-stop shop solution for creating an optimized workflow.
5. Use Labour Effectively
Another great feature of the warehouse management system is efficient labour use. This software can assess a worker’s skill, equipment and available tasks to assign the best possible work at the right time. With this tool, you can optimize the travel time inside the warehouse to reduce lead times and increase work efficiency.
Modern WMS systems can identify labour-intensive tasks and find the most suitable worker to perform them. You can also use features like labour forecasting to assign tasks on a day-to-day basis and design efficient schedules.
Additionally, the WMS system comes with scanner tools that allow workers to speed up the recording process and ensure all details are accurate. These scanner tools reduce mistakes and improve picking accuracy, leading to better customer service.
6. Eliminate Inventory Shrinkage
If your business deals with high stock volumes, you are at a higher risk of inventory shrinkage. Inventory shrinkage refers to the loss of stock or inventory due to damage, theft, vendor fraud, faulty records, cashier error, etc. The term shrinkage specifically refers to the recorded inventory versus the actual stock.
Having a robust WMS means that all your recorded information is accurate. Without the right technology, you’ll have less inventory visibility and could face profit loss and low customer satisfaction. With an integrated WMS, you will always have up-to-date information and maintain complete visibility of your product’s movements.
7. A Future-proof Solution
Technology is constantly evolving, so you need a WMS system that can keep up with these changes. While there are many WMS software out there, most of them offer status capabilities with no place for a business to scale up or down.
Once you’re stuck with a system like this, you’ll have to spend a lot of money and time updating it. The good thing is that emerging technologies are producing better and more robust WMS software, which is guaranteed to be a future-proof solution.
Canary7’s WMS is a flexible, state-of-the-art system that meets all your business needs. Our software also provides compatibility and integration with numerous logistical tools to create a unique system that caters only to your business.
The State of Logistics Today
Technology affects every part of our lives, and the logistics sector is no different. Many businesses are implementing smart solutions to keep up with changing consumer demand, new technology, and global economic changes.
Here’s a look at some recent trends in logistics and how a WMS can help you stay on top of trends.
Automation
Automation is quickly becoming an integral part of various sectors, including logistics.
Warehouse automation is an excellent way of making the overall operation more efficient and cutting down manual labour. This usually occurs in two ways: through automated inventory management software or robotic picking machines.
The main purpose of this trend is to find the best ways of conducting operations without little to no issues. With this method, there’s also an overall reduction in human errors and delays in the supply chain.
Automation allows your in-house team to find ways to optimize the workflow with technology. Another great benefit of automation is that it reduces health and safety risks for workers.
Manual moving and lifting heavy goods can pose a significant hazard and problem for many warehouse operation managers. To eliminate this risk and maintain efficiency, logistic spaces use a semi-automated method for lifting, allowing operators to move items of various weights and sizes.
Automation allows speed and precision while significantly reducing the risk of injuries. With an automated picking process, there’s also little chance of heavy objects being damaged during their transport. Machine-operated picking uses careful parameters to lift items, reducing any breakages.
Additionally, automation provides real-time tracking and visibility, improving workplace safety and staff members’ overall working conditions.
Your WMS system can identify work tasks according to difficulty and designate the appropriate worker. You can also get relevant data on your workflow to streamline it. With these benefits, it’s easy to see why automated inventory software will become a mainstay in logistical spaces.
Supply Chain Flexibility
Supply chain flexibility is another area that is seeing major growth. In recent years, world conflicts and the pandemic have harmed the global supply chain, leading to delays and disruptions everywhere.
These issues highlighted the weakness in logistics worldwide and became a lesson for operation managers to increase warehouse agility. To combat these issues, logistics companies overhauled their operations to become more flexible.
This agility is also great for meeting the ever-changing demands for goods and services. Flexibility will allow businesses to quickly respond to fluctuations in their supply chain while reducing extra costs and maintaining efficiency.
Additionally, flexible operation gives logistic companies an edge over their competitors. Public opinions on goods are constantly changing, so your supply chain should be adept at handling any such fluctuations.
Identifying and responding to these fluctuations is a key component of supply chain flexibility. To do this efficiently, you must have an in-depth knowledge of the market, customers, and technological trends.
With a robust and fully responsive WMS system, you can find potential faults in your supply chain and remedy them. You can also use forecast data and past trends to plan your supply chain tactics ahead of time. Having these WMS features on hand will give businesses a competitive edge in the future.
Cloud Computing
Cloud computing is quickly becoming a core component of logistics. With cloud computing, companies can manage scalability and reduce operational costs. Cloud computing also allows operation managers to handle their work from anywhere, making problem-solving easier.
Since everything is based on the cloud, information is easily accessible from any connected device. Another great thing about cloud computing is that data isn’t stored in one place, so there’s better security and less hardware dependence. This also makes it easy to maintain hardware in the long term.
Clear communication and open collaboration are key in any logistics facility. Cloud-based technology makes it easy to share information, collaborate on ideas, and conduct communication between suppliers and customers, regardless of their location.
Cloud computing also allows more flexibility in keeping up with new technological advancements. In the upcoming years, logistics facilities will undoubtedly have access to even more innovative tools. Cloud computing will make this transition more manageable as it’s not tied to ageing hardware.
Many modern WMS, including Canary7, use cloud computing as a way to organize and manage your inventory. This removes the need for expensive hardware, as all your data is stored on the cloud.
Upgrade Your Business With Canary7 WMS
The future of logistics is constantly being reshaped due to emerging trends and new technologies.
Automation and digitisation are at the forefront of any business, and it’s crucial for key players in the logistics industry to keep up. To stay ahead, companies must leverage new technologies and use innovative tools.
Canary7’s WMS is powerful and robust, making it an ideal solution for any growing business. With our plethora of tools and integration, you can take control of your inventory in no time.
Start with Canary7’s WMS today to bring your business into the future!
Colleen Ballantine
Author
UPDATED ON: 3rd May 2024
Colleen is a marketing specialist at Canary7, writing in-depth blog content on warehouse management, inventory control, and logistics. With extensive industry experience, Colleen focuses on delivering informative and insightful posts
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