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In warehouse management, reducing costs is one of the solutions to maximize profits without the need to increase sales. But at the same time, due to pressure on warehouses to increase efficiency and improve service levels, reducing costs has become a bigger challenge.
Additionally, reducing costs will be the driving factor for a warehouse to compete in pricing today. Consumers are expecting not only faster shipping but also lowered costs. For a warehouse, meeting this expectation can serve as a competitive advantage.
Find some of the different warehouse management solutions to reduce costs below.
In today’s market, an “almost perfect order” is considered completely wrong because consumers have grown accustomed to receiving the right product, at the right place, at the right time, at the right quantity, and at the right condition—in short, a perfect order.
This expectation incentivizes the warehouse to achieve a high perfect order performance, because that performance directly correlates to measures of customer satisfaction. And because it covers a wide range of metrics, customer satisfaction is deemed to be one of the most important metrics in measuring warehouse performance.
Find some of the different warehouse management solutions to achieve a perfect order below.
One of the KPIs that every warehouse tracks is lead time, which is the length of time between the placing of an order and the receipt of the item by the customer.
The benefits of a short lead time include higher customer satisfaction and favorable reviews, which eventually lead to increased sales and high profits. Today, lead time also serves as a significant differentiator in the form of 1-day or same-day shipping for online retailers.
The most effective warehouses are those that have reduced lead times while maintaining quality at a reduced cost.
Find some of the different warehouse management solutions to shorten lead time below.
The warehouse has been experiencing smaller and more frequent orders due to the rise of e-commerce, just-in-time methods, and initiatives such as efficient consumer response (ECR) and quick response (QR).
This transition has necessitated changes in warehousing operations, with a move away from full-pallet picking to carton and individual-item picks. And because more orders are received, the chance for inaccuracy grows each time a single order is fulfilled.
Find some of the different warehouse management solutions to accurately fulfill smaller and more frequent orders below.
Labor is typically the biggest component of a warehouse’s operating costs. And while hourly labor rates for the warehouse have been rising consistently, overall productivity has remained stagnant.
This problem serves as a strong motivator for warehouses to find ways to reduce labor costs as doing so can bring substantial savings. Labor is proving to be non-sustainable in the long run and is tied with human-nature problems such as emotions, health, and mortality.
Find some of the different warehouse management solutions to reduce labor costs below.
Today’s breed of global supply chains is giving rise to importance of data sharing among customers, partners, and vendors. Non-centralized and unsecured data often results in slower transactions, inefficiencies, and data breach.
Implementing data sharing is a management solution that will increase warehouse efficiency, open new business opportunities, and strengthen relations. These lead to gaining benefits such as increased visibility, efficient inventory management, better tracing and tracking, cost reductions, and faster flow of information.
Find some of the different warehouse management solutions to implement data sharing below.
Technology plays a critical role in today’s warehousing. But when not properly implemented, supported, or maintained, it can cause inefficiencies, downtimes, and business loss.
Solving or, better yet, avoiding technology problems will allow the warehouse and business to have a smooth, efficient, and productive operation.
Find some of the different warehouse management solutions to solve technology problems below.
Managing space inside a warehouse aims to maximize the number of stored items within a fixed amount of warehouse space. Failing to maximize space results in higher real estate expenses with no benefits in revenue or profit generation.
But when warehouse space is utilized well, it can lead to more revenue-generating possibilities, such as renting out the extra space to third parties or using it for other company facilities.
Find some of the different warehouse management solutions for space management below.
See How We Helped Others
Our customers and partners were able to overcome their warehouse challenges and achieve efficiency by partnering with us to build custom warehouse technologies. Each case study below will explore the problems of each company’s situation, the warehouse management solutions we have implemented, and the results they achieved. Learn more by clicking through each case study.
Latest Educational Content
The Future of Warehousing: Warehouse Digitalization
Apr 20, 2020Discover the seven technologies that are changing the warehouse and transforming it into a more digitally-driven epicenter of the supply chain, a transformation known as “Warehouse Digitalization.” Learn also which technologies you should adopt now to gain a competitive advantage and the ones you should track and learn more about. Get The Guide
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