Whether you run a retail, hospitality, or manufacturing business, you may sometimes feel that you need more space for storage, but is that really the case? Organizing and managing a warehouse is not easy. From excess stock to lack of storage, to low traceability, to inaccurate inventory and outfitting, everything often becomes overwhelming especially if you use disparate systems for each task. But you can simplify all this to a surprising extent with a Warehouse Management ERP.
Receiving goods, cross-docking goods, organizing and storing inventory, etc. seems like a lot. However, you can manage them with a few strategies. You will be surprised to see how these hacks work like magic. Many big business ventures like Red Tape, and Haldirams do the same to optimize their warehouse and cut their expenses by up to 30-40%.
Get Everything Within the Same Platform with a Warehouse Management ERP
Warehouse management comprises various operations such as inventory storage and management, managing staff, logistics, machines, etc. Managing them with different software will only increase your complexities. Therefore, it is highly recommended to use a Warehouse Management ERP which supports your flexible needs; a Warehouse Management System that helps you customize features as per your requirement.
Try Getting Transparent Records
Without complete visibility into your inventory, you are most likely to face problems of either overstocking/ understocking or decreased cash flow. Sometimes it’s even worse; going out-of-stock and running back orders which can easily hamper your reputation in the market. Therefore, focus on getting transparency of stocks so you can manage the right stocks at the right time. This way you can increase your profit margin and get a set of happy customers. A Warehouse Management Software Solution such as Microsoft ERP for Supply Chain Management can help you a lot. It specializes in tracking each movement of your stocks; from receiving to shipping, every detail will be in front of you without having to scan through different software.
Figure out Trends
Businesses see a lot of wastage because they don’t have a clear idea about ongoing trends and most importantly, upcoming trends. They work on their assumptions. It is important to understand the importance of understanding changing trends. Only wastage makes at least 10% of the cost. Do your research and find out for how long the current trends will last and what possible changes you can expect. Go through your customer history and notice the pattern. However, if it feels like a lot of work, Warehouse Management CRM will do it for you. Microsoft Dynamics 365 Supply Chain Management Software is a Warehouse Management ERP and CRM which stores customer transaction history and understands trends. This is critical when you order stocks. These details can efficiently prevent overstocking/ understocking. Moreover, when you get insights into your customer’s behavior, you can create relevant deals, offers, and discounts for them.
Shift Your IT Engagement to Improve Efficiency.
It is important to engage your IT team in developing customized applications or tools. If your staff is always engaged in maintaining and upgrading your current technology, they cannot get enough time to spend on things that can contribute more to the overall betterment of your warehouse. In this case, you may even end up hiring a bunch of other IT professionals to take care of that. But is it necessary? You can instead invest in technology that upgrades all by itself and its maintenance is the service provider’s responsibility. With a Warehouse Management ERP like Microsoft Dynamics 365 Finance and Operations, you never have to worry about its upgrades, updates, and maintenance. Your service provider is responsible for everything.
Shift From On-premises to the Cloud
One of the major factors many warehouses’ owners overlook is the importance of using the Cloud nowadays. If you are running your Warehouse Management System on-premises, you can only access limited features from an ERP. However, if you shift to the cloud, you can open doors to a bunch of fresh functionalities, high-end security, and greater flexibility. If you choose Azure Cloud, you will have a team of 3,500 IT experts working day and night ensuring your system is virus free and working smoothly.
Digitize Your Replenishments
Like every other human being, your staff probably makes mistakes too. However, in this digital era where customers demand perfection, you cannot afford that. You can instead automate your replenishment, so that whenever you are about to get out-of-stock, the inventory is ordered automatically, hence preventing human-made errors.
Try Other Storage Methods to See What Works Best for You
It is important to have enough space in your warehouse. Organize your warehouse to maximize the number of goods you can store. For instance, you can use narrow-aisle equipment to place racking closer together and make more space for other items. A Warehouse Management ERP can also assist you with floor planning and help you get the most out of your existing space.
Prioritize Staff Motivation to Get a Healthier Work environment
Your staff is as important as the technology you use. However, with no enthusiasm, they cannot give their 100%. Organize a friendly chat among workers so they can interact more with people from different teams. Studies observed employees who have a best friend at their workplace are more likely to take lesser leaves and work to their full capacity as compared to introverted employees who don’t interact much. A picnic and indoor and outdoor activities like playing games can boost their motivation to a great extent. In addition, you can also empower them with handheld devices that help them track inventory and order items at the right time.
Many successful warehouses implemented Warehouse Management ERP a while ago and witnessed exponential growth in their ROI. However, there are still growing businesses that work in silos. They might think it’s working for them, but they are blocking various opportunities with outdated technology. Microsoft Dynamics 365 is the Top Supply Chain Management Software. If you wish to implement it, you can contact Trident Information Systems. We are a Microsoft Dynamics 365 Gold Implementation Partner and LS Central Diamond Partner. With years of experience, we have managed to get a massive clientage from all over the world. Contact us for further information or a demonstration.