Warehouse Management for your eCommerce Business
January 19, 2023
If you are in the eCommerce business, the chances are that you have a warehouse or somewhere where you keep your stock. Depending upon how you started your business, you may or may not have a Warehouse Management System (WMS) in place if you don’t and you’re thinking about it. Then this blog is for you.
Having a warehouse management system in place will bring many benefits to your business, including improved inventory management, increased efficiency, better space utilisation, improved accuracy, and scalability. A good WMS will provide real-time visibility into inventory levels, automate manual processes such as the creation of picking and packing lists, and improve the accuracy of warehouse operations; a WMS can help eCommerce businesses to improve their operations, increase customer satisfaction, and grow their business. In other words if you don’t have one you should really consider it. Here are five advantages for using a WMS:
- Improved Inventory Management: A warehouse management system (WMS) provides real-time visibility into inventory levels, allowing businesses to track stock levels so they can make informed decisions about what to order and when to order it. This helps to reduce the risk of running out of popular and profitable lines and overstocking. Both of which can be costly for eCommerce businesses. According to a study by the National Retail Federation, inventory inaccuracies can cost businesses up to 10% of their annual revenue.
- Increased Efficiency: A WMS automates many of the manual processes that are involved in warehouse operations, such as picking and packing, which can help to speed up these processes and massively reduce errors. This can result in faster order fulfilment, leading to increased customer satisfaction and improved sales. According to a study by the Material Handling Institute, businesses using warehouse management systems saw a 20% reduction in errors.
- Better Space Utilisation: A WMS can help businesses to optimise the use of their warehouse space by providing tools for slotting, racking, and other space management techniques. This can help businesses to make the most of their existing space and reduce the need for additional warehouse space, which can be costly.
- Improved Accuracy: A WMS can help to improve the accuracy of warehouse operations by using barcode scanning, RFID technology, and other tools to track inventory and orders. This can help to reduce errors and improve the overall accuracy of warehouse operations, which can lead to improved customer satisfaction and reduced costs.
- Scalability: A WMS is designed to grow and evolve with a business, making it easy to adapt to changing needs, such as additional warehouse locations, new products, or increased order volume. This can help businesses to scale up their operations and take advantage of new opportunities while ensuring that they have the systems in place to manage the increased complexity.
That’s a good start, and if we got our in-house warehouse guru Ian in on this, he could list fifty more. What some people don’t realise is that StoreFeeder has an intelligent WMS built into the platform. Our customers have told us firsthand the difference this system has made to their businesses.
If you’d like to have a look, you can book a free demonstration here.