{"id":3781,"date":"2019-07-22T20:46:40","date_gmt":"2019-07-23T00:46:40","guid":{"rendered":"https:\/\/blogs.solidworks.com\/delmiaworks\/warehouse-inventory-management-software-efficiency\/"},"modified":"2019-07-22T20:46:40","modified_gmt":"2019-07-23T00:46:40","slug":"warehouse-inventory-management-software-efficiency","status":"publish","type":"post","link":"https:\/\/blogs.solidworks.com\/delmiaworks\/warehouse-inventory-management-software-efficiency\/","title":{"rendered":"Six Ways Warehouse Inventory Management Software Optimizes Efficiency"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li>The Warehouse Inventory Management Software market grew to $1.4B in 2016 and is projected to attain a Compound Annual Growth Rate (CAGR) of 14.1% between 2017 and 2025 with the global market reaching $4.6B by the end of 2025.&nbsp; <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.iqms.com\/products\/erp\/manufacturing\/inventory\/warehousemgmt.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Warehouse Inventory Management Software<\/a> is seeing increased adoption as manufacturers expand globally through mergers, acquisitions, and regionally-focused manufacturing strategies.<\/li><\/ul>\n\n\n\n<p>Supply chains are the lifeblood of any business, sustaining their ability to compete with new customers, and fulfill orders and commitments to existing ones, making Warehouse Inventory Management Software key to growth. For any company to grow, they have to excel in every aspect of <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.iqms.com\/products\/supplychain.html\" target=\"_blank\">Supply Chain Management<\/a> from planning, logistics, fulfillment, optimization, including warehouse performance. The competitive intensity in every industry is growing, making supply chains and the warehouses that enable them more important than ever. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How Warehouse Inventory Management Software improves efficiency<\/h2>\n\n\n\n<p>Following are the six ways a warehouse and inventory software system improves distribution, logistics, and supply chain centers today: <\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Improving Inventory Management Accuracy\nand Visibility.<\/strong> Inventory management accuracy and\nvisibility is the most valuable advantage of any Warehouse Inventory Management\nSoftware system as it translates directly into cost and time savings. Improving\ninventory management accuracy and visibility requires a focused approach to\ncapturing the most valuable metrics of performance and then tracking their\nperformance over time. <\/li><li><strong>Accelerating and Fine-Tuning Order Fulfillment<\/strong>. Distributed Order Management (DOM) systems are the foundation of any successful <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.iqms.com\/products\/supplychain.html\" target=\"_blank\">Supply Chain Management system<\/a> and are essential for the successful performance of a WMS. The best Warehouse Inventory Management Software suites are integrated into Order Management systems.&nbsp; The advantage of having a tightly integrated Order Management and Warehouse Inventory Management Software system is that orders can be quickly processed, fulfilled, and often shipped with the entire process handled electronically within the warehouse. The best Warehouse Inventory Management Software is capable of providing On-Time Delivery, Order Fill Rate; order Accuracy, Line Accuracy, Order Cycle Time, and Perfect Order Completion. Of these metrics, Perfect Order performance is one of the most indicative of overall SCM accuracy and efficiency.&nbsp;&nbsp;&nbsp; <\/li><li><strong>Increasing Warehouse Productivity<\/strong>.\nGetting more done in less time is a challenge every business faces.&nbsp; Increasing the productivity within a\nwarehouse starts with a streamlined approach to pick-and-pack, and then\nprogresses to fine-tuning order fulfillment.&nbsp;\nAt the center of the warehouse, productivity is the need to ensure\npick-and-pack performance is keeping up with every other work cycle in a\ncompany. One of the most effective approaches to continually increasing\nwarehouse productivity is to gain insights from a series of key metrics.&nbsp; These include orders per hour picked; lines\nper hour picked and fulfilled; items per hour; cost per hour; and cost as a %\nof sales.&nbsp; <\/li><li><strong>Streamlining Automated Data Collection\nAccuracy and Reporting<\/strong>. Bar coding is the long-proven standard\nfor automating data collection and can help to increase order accuracy and\nwarehouse management. All <a href=\"https:\/\/www.iqms.com\/products\/erp\/manufacturing\/inventory\/warehousemgmt.html\">Warehouse\nInventory Management Software<\/a> suites and platforms support some form of\nautomated data collection. <\/li><li><strong>Streamlining Pick, Pack, and Ship Operations Across All Locations<\/strong>. Integral to Inventory Management and Fulfillment workflows, Pick, Pack, and Ship originated in <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.iqms.com\/products\/supplychain.html\" target=\"_blank\">Supply Chain Management systems<\/a> decades ago. Evaluate vendors on their support for the piece, case, and pallet picking, including their ability to provide mixed pallet workloads for delivery to multiple locations. Pick, Pack, and Ship also has its series of metrics that need to tie back to inventory efficiency, order accuracy, including the perfect order and financial performance of warehouse locations.&nbsp; <\/li><li><strong>Improving Location Management\nPerformance and Contributions to Business Performance.<\/strong>\nManaging bins, slotting, and in advanced Warehouse Inventory Management\nSoftware suites, inventory location optimization algorithms, Location\nManagement serves to unify the logical functions of a Warehouse Inventory\nManagement Software with a physical location. The best in class Location\nManagement systems can create a framework for optimizing a broad network of the\nwarehouse, distribution centers, and fulfillment locations globally.&nbsp;&nbsp; <\/li><\/ol>\n\n\n\n<p><strong>Bottom Line: <\/strong>Supply chains are the lifeblood of any manufacturing business, enabling its operations to scale in response to shifts in customers\u2019 demand. Warehouse Inventory Management Systems can assist in transforming supply chain efficiency into internal process performance gains while ensuring accuracy, compliance, and cost control. &nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/blog-assets.solidworks.com\/uploads\/sites\/17\/wms-infographic-blog-cta-1.jpg\" alt=\"Infographi: Finding Saving in the Warehouse. How Much Could You Save. Download Now!\" class=\"wp-image-2496\"\/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Warehouse Inventory Management Software market grew to $1.4B in 2016 and is projected to attain a Compound Annual Growth Rate (CAGR) of 14.1% between 2017 and 2025 with the global market reaching $4.6B by the end of 2025.&nbsp; Warehouse<\/p>\n... <a href=\"https:\/\/blogs.solidworks.com\/delmiaworks\/warehouse-inventory-management-software-efficiency\/\">Continued<\/a>","protected":false},"author":559,"featured_media":3782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,26,27,29],"tags":[290,291],"class_list":["post-3781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-posts","category-manufacturing-across-america","category-manufacturing-trends-and-news","category-erp-technology-and-automation","tag-warehouse-inventory-management-software","tag-warehouse-management"],"acf":[],"_links":{"self":[{"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/posts\/3781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/users\/559"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/comments?post=3781"}],"version-history":[{"count":0,"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/posts\/3781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/media\/3782"}],"wp:attachment":[{"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/media?parent=3781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/categories?post=3781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.solidworks.com\/delmiaworks\/wp-json\/wp\/v2\/tags?post=3781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}