Warehouse operations and inventory management are crucial levers that enable a business to function smoothly. Making these levers work in sync is no easy job; there are no doubts. Further, inventory mismatches may result in understocking and overstocking, tampering with the order fulfillment lifecycle.
This is where an efficient warehouse management system can help your business tremendously. Opting for TMS software to complement your business operations can turn things around. How?
- Managing inventory levels to avoid overstocking and understocking. The software will help you predict the movement of inventory, particularly the best-selling products, so that you can plan well in advance.
- Utilizing space efficiently. The business expense to expand warehouse space is significant, which makes it essential to optimize the current storage layout and equipment used. A warehouse management system provides insights into this, helping to cut redundant costs.
- Fulfilling orders systemically. From the point a customer places an order to the final stage of delivery, a sound WMS system helps you to track & manage it smoothly, ensuring quality checks at appropriate times and routine updates.
- Automating & reducing errors. Performing tasks manually, especially repetitive ones, takes time, effort, and money and leaves a lot of scope for mistakes. A WMS application helps you automate tasks, save on expenses, and drastically reduce the instances of error.
We have illustrated some of the benefits of integrating WMS software into your business ecosystem. But how do you choose the right software? What are the things to consider with a plethora of tools already in the market? Which is the right software for your business needs? Let’s find out.
7 Considerations While Choosing A WMS
Before browsing through tools, we recommend you anchor down your specific business needs- outline the current business operations needs and future expansion plans. Key factors to include are inventory volume, expanding product line, order frequency, delivery system, and the like. Choose a WMS that closely matches your business needs to get its full benefits.
#1: Warehouse Management System Features
Even though the needs of businesses may vary, some features of any WMS software remain must-have. Some examples include inventory tracking, which is for real-time monitoring and visibility into inventory levels, and order management, which facilitates order processing, picking, packing, and shipping. Others include barcode scanning and RFID integration, returns management, customization & flexibility, etc. If the WMS can offer automation capabilities, it can drastically improve your business’s operating efficiency.
#2: Integration Capabilities With Other Applications
Your business may already use applications, like ERP, billing software, or customer support tools, to run things. A good WMS application must be easy to integrate with your current software and any new ones you may add in the future. A standalone application does no good and adds more friction to operations.
#3: Security & Compliance
The TMS software you chose must offer robust security measures to protect your data and comply with industry standards and regulations. Failure to comply with these rules may invite fines, penalties, and unwanted halts to your company. Some of the top security features to look out for include:
- Audit Trails: To record user activities and system events
- Role-Based Access Control: Limit access to various personnel
- Data Encryption: To prevent breaches or leaks
- Firewall Protection
- Secure APIs and Integrations
#4: Reporting & Analytics
A good WMS software provides real-time data, forecast patterns, and insights to help you navigate business blindspots and improve operations. A sound warehouse management system offers:
- Real-time data on inventory levels, order status, updates, and more.
- Reports metrics, including space efficiency, order fulfillment rates, stock wastage, inventory turnover, seasonal purchase patterns, and more.
- Trend analysis to predict purchase patterns, uncover customer preferences, favored products, seasons with maximum & minimum orders, and the like.
- Vendor & supplier relationships to understand their contributions and performance. This will help to weed out any contracts that are impacting business negatively.
- Cost analysis is used to understand overspending and underspending and to reroute business funds effectively. For instance, your business may need to invest more in customer support and returns when this remains an improvement area.
#5: Scalability & Expansion
Any business is preparing for growth and expansion. The tools you purchase must also be capable of scaling as you do. A WMS that can keep up with your development and adapts to changing market demands becomes a long-term investment. While choosing a WMS tool, consider the scale of your operations, inventory diversity, and the supply chain’s complexity.
#6: WMS Type & Mobile-Accessibility
Different types of WMS exist, such as Standalone WMS, Cloud-Based WMS, On-Premise WMS, Proprietary WMS, 3PL (Third-Party Logistics) WMS, Mobile WMS, and open-source WMS. You can opt for the one that fits your needs best.
With that said, a cloud-based WMS will help you access the system anywhere and anytime across various devices such as smartphones, tablets, and desktops. Get notified of important updates and information.
#7: Total Cost of Ownership
The Total Cost of Ownership is another crucial aspect to evaluate while purchasing a WMS. TCO encompasses all the costs associated with acquiring, implementing, and maintaining the WMS system throughout its lifecycle. Choose WMS software with transparent pricing, which doesn’t have hidden expenses and is not too heavy on the pocket(especially if you are a small or medium-sized business).
Linfa Systems Solutions: The Right Solution For Your Business
If you are looking for a reliable WMS solution that can empower your business, we are here to help.
- Enjoy the features of TBO4 WMS, including.
- Barcode scanning and label printing capabilities
- Automated picking, packing, and shipping processes
- Integration with major shipping carriers
- Advanced reporting and analytics
- Real-time inventory tracking and management
- Get a tailored WMS solution for your business that solves problems and brings ROI. At Linfa System Solutions, we don’t believe in a one-size-fits-all approach.
- Enjoy all the benefits of a WMS without the inherent hassles and associated high costs. Enjoy transparent, SaaS pricing.
- Leverage our cloud-based architecture that ensures a highly scalable WMS, improving control and increasing efficiency.
- Protect your data with Linfa System’s robust security measures, such as data encryption, secure user authentication, and regular system updates.
- Get a comprehensive Audit Trail for all operations.
- Integrate our WMS easily with other software systems such as ERP [Enterprise Resource Planning] systems, Transport Management System [TMS], and other business applications, allowing for seamless data exchange and streamlined operations.
- Leverage ERP agnostic WMS solution that integrates seamlessly with the following ERP :
- Reach out to Linfa Systems’ customer support at any time via phone, email, or live chat.
Let’s get in touch and discuss how to reduce costs for your business and improve productivity.