The one thing that every business wants is to have a proper inventory flow system. It can manage all the operations relating to maintenance of stocks in the warehouses and their precise movement through their logistics channel when required. And most probably in these troublesome days due to this ongoing pandemic. They are worried about their warehouse management. If the situation gets worse again and if the lockdown situation happens. Then if their warehouses if are not operating efficiently. It will cause the loss of sales chance affecting its survival in the first place.
In this article, we will explain, What is Warehouse Management. And How can you use the best techniques to manage it?
What is Warehouse Management?
The term warehouse management means that it is a process through which organizations manage their multi-warehouse operations. And this operation includes these types of activities -
- Receiving and Arranging the Inventory and Warehouses.
- Inspecting and Matching the new stocks coming into the warehouse with their respective documents.
- Managing Packing and Shipment of goods.
- Tracking and Monitoring the movement of goods.
So these are some of the major activities which include in the management of warehouses. And there are many more like training staff and others.
What is Warehouse Management System?
The Warehouse Management Sytems (WMS) is a software solution that helps in managing and automating our day-to-day operational activities in warehouses. It provides visibility into a business's entire inventory management operations in warehouses. And in supply chain fulfillment operations from the distribution center to the store shelf.
With the implementation of a WMS solution, you can streamline all your processes and have real-time inventory information. Plus on, this information basis, you can forecast demands and fulfill suppliers' orders smoothly.
Difference between Warehouse and Inventory Management.
Generally, these two terms are used interchangeably. But it does not mean they are the same. So the difference between both of them is that.
Inventory Management helps to manage the accurate inventory items that are present in the warehouses. Further, it helps in managing the purchasing and order fulfillment objective.
And warehouse management focuses on the journey of specific goods. So as to how the movement of goods is happening in the warehouse and coming into the shipment stage.
Learn More about - Inventory Management: Ultimate Guide for SMEs
Benefits of Warehouse Management Software & Management process.
With the help of a software solution, this management process of warehouses becomes streamlined and easy to manage. So these are some ways that the Warehouse Management software and process helps businesses -
- Tracking Inventory - With the help of this WMS software and management process tracking of inventory becomes easy. Further, it helps in monitoring the inventory levels in multiple warehouses.
- Increases Operational Efficiency - With the help of a WMS solution, the operational activities become efficient. Additionally, it helps in meeting the customer's needs with real-time inventory information.
- Packaging Goods error-free - It helps to manage warehouse activities like the packaging of goods for the fulfillment of customer's orders, becomes error-free. Because the whole process becomes automated by automatically match the batch number of goods with to ship.
- Reporting - The main thing which the software helps is in providing different reports and analysis on the movement and management of goods. So the business management can make data-driven decisions regarding the inventory holding process.
So till now, you have understood the importance of a warehouse management system for your business whether it is retail or manufacturing it's equally important. And in today's time, it is only beneficial when you use a software solution. So businesses can choose from a pool of software available in the market. But they should check whether it satisfies all their needs. And for the Indian SMEs and manufacturing concerns, we have TranZact.
TranZact is a zero-effort digital transformation tool and platform for SMEs to digitize business processes right, from customer inquiry to dispatch. It helps SMEs in their warehouse management needs like managing your regional and local distribution centers by creating and managing multiple warehouses. Companies can look at it, and if it suits them, they can use it.
The TranZact team provides their digitizing tool on a Freemium policy. Because we want our customers to take a step forward in digitizing their businesses without having to think over silly amounts of money.
Further, the organizations must choose TranZact or any other software only when it meets all their requirements.