Question 1

What is Warehouse Management Software?

Accepted Answer

Warehouse management software (WMS) is primarily used to provide visibility into an organization’s inventory. Users should think of it as a way to monitor, track, and optimize the efficiency of how inventory is stocked, managed, and shipped. WMS provides these inventory management features primarily by being linked to barcode tracking features. Typically, businesses label items with barcodes which provides them full visibility into that particular item. This technology is then linked to the WMS. This is extremely beneficial to businesses because when the item is scanned, it provides visibility into the number of stock left, an item’s location in the warehouse, as well as the shipment status of the item. In this sense, the barcode is the key factor that allows warehouse management systems to be as effective as they are. 
 In addition to monitoring and optimizing warehouse inventory, WMS can also manage supply chain operations from the manufacturer to the warehouse. This provides more visibility into when shipments are arriving and how to effectively stock those shipments in the most efficient way possible. 
 What Types of Warehouse Management Software Exist?  
 ERP-integrated WMS 
 Sometimes warehouse management systems can be packaged into an enterprise resource planning (ERP) system. Although it might not have as much functionality as a standalone product, it will definitely provide a wide scope of other business processes. If it’s important to have one system that aligns the warehouse management system with human resources, supply chain management, and manufacturing, then buyers might want to opt for a product that is included in an ERP system. 
 Standalone WMS 
 Standalone warehouse management systems are sold as a specialized product that doesn’t offer any further supply chain functionality. It will focus specifically on inventory management and warehouse operations. This would be an ideal choice for a company that isn’t looking for software that expands beyond the scope of warehouse management.

Question 2

What are the Common Features of Warehouse Management Software?

Accepted Answer

The following are some of the core features typically found in a WMS: 
 Inventory control: Inventory control features allow warehouse managers to monitor inventory levels in real time. This lets managers monitor if their inventory is overstocked or understocked, which can indicate if the business is wasting money on certain products that are not being bought. 
 Warehouse layout: Warehouse layout allows users to identify products by weight or size so businesses can stock items in locations that make movement more efficient around the warehouse. If sales data indicates that a particular product is flying off the shelves, the warehouse managers can ensure that the product is stocked at an optimal location for the quickest shipping times. 
 Fulfillment monitoring: Fulfillment monitoring features allow users to track, manage, and analyze the fulfillment times of their products. By synching RFID tags that are on each product, users can track and locate each item to see if they reached their final destination on time. 
 Labor management: Labor management tools allow warehouse managers to monitor worker performance within the software. The software can help indicate if workers are performing above or below standards. 
 Warehouse modeling: Warehouse modeling allows users to simulate a warehouse workflow change and provide report card metrics on efficiency. This is a great way to test changes before they’re even implemented. Within the feature, warehouse modeling will even proactively recommend optimizations so warehouse managers know how to shift workflows in order to maximize efficiency. 
 Other Features:  Accounting Integrations, Customer Portals, eCommerce, Procurement, Stock History Reporting, Visualization, Worker Performance

Question 3

What are the Benefits of Warehouse Management Software?

Accepted Answer

WMS can dramatically improve the efficiency of tracking and monitoring inventory as it moves through the warehouse. As a result of better tracking and inventory planning, users will make processes such as receiving, picking, and storing products quicker and more accurate. These improved processes will result in more shipments going out on time and customers receiving their orders more quickly. 
 Meet customer demands: Shipping time is extremely important to the average online shopper. With massive e-commerce sites setting the bar with shipping in two days or less, other online e-commerce stores must offer the same to stay competitive. Maximizing the efficiency of the inventory with a warehouse management system will allow the company to send more shipments out on time and meet growing customer demands. 
 Save money: Warehouse management systems help businesses with processes such as demand forecasting. By monitoring how much inventory is left of a certain product, businesses can determine if they need to slow down or increase the production of that product. Using historical data to develop an estimate of expected customer demand will ultimately save the company money. 
 Better labor management: WMS can drastically improve the onboarding process for new workers, as well as the efficiency of veteran warehouse workers. Some labor management features typically found in a WMS included worker performance management, labor forecasting, KPI management, and schedule optimization. There are features that allow businesses to set goals for their workers which will provide them with specific metrics to reach. This can be great for compensating workers based on performance. Conversely, there are also great schedule optimization features that provide daily schedules and tasks to warehouse workers. This allows them to always stay on track and not idle in the warehouse.

Best Warehouse Management Systems - Page 17

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