Poor warehouse management can cause some serious problems for businesses, both in terms of hindering their cash flow and making them inefficient. For anyone who has ever lost items or been unaware of what is in stock, this is a very real issue that needs addressing. Whether you realise it or not, this disorganisation is having a negative impact on your enterprise.
Implementing an effective warehouse solution can assist you, as it can offer you control; from inventory control and tracking to purchasing and finance management, here are just a few of the ways that implementing a ‘lean’ warehouse system could help you…
An improvement of a company's inventory control has numerous of benefits for the enterprise in question. By ensuring that you know stock availability any given time, you can make sure the information provided to customers is accurate, that you’re able to see on the system which goods or raw materials need ordering before you run out of them, and that you can see how quickly various products are selling - making it easier to monitor performance.
With a system in place to keep an accurate inventory and location of your stock, workers will not need to complete such a process manually, saving employees time and leaving them free to devote their time to other more productive tasks. This means that the money you’re spending on wages is put to far better use, as employees are more productive and your business becomes more profitable in the long-run.
Real-time business intelligence
Not only having a warehouse solution in place to keep track of your inventory for you has a significant advantage related to stock control, it also provides you with real-time business intelligence. This means that you'll always know the exact volume of items in your inventory, whether or not you have goods in stock before your customers place an order, and if you need to place a new order with your suppliers so that you can do so before you run out of either goods or the raw materials needed to create them. This ensures that you’re able to spend your money wisely as you need never tie it up in any unnecessary purchases.
Warehouse solutions allow you to avoid the trap of ordering excessive stock because of not knowing what is in your warehouse. With the ability to see exactly what you have, plus the quantity of each item and what goods are on order, there is no need to tie your money up in unwarranted purchases, thus improving your cash flow.
For those looking to manage their business’ cash flow and increase efficiency, warehouse solutions like our own comprehensive all-in-one ERP system like WinMan can be the ideal problem solver. A simple and straightforward way to streamline inventory and warehouse management, not only will it help you to achieve the above but also reduce your expenses and boost your customer satisfaction levels too.