External Warehouse Management System and Its Benefits for Businesses
June 29, 2020Lost and untraceable inventories are no longer a problem, nowadays. Effective warehouse management methods enabled the precise location, status, and count of every item. These methods promoted shorter lead-times, lower inventory levels, resulting in fewer errors, reduce emergency deliveries and can provide transparent interaction between warehousing services and their clients. All of this is because of external warehouse management system. Below is an overview of external warehouse management system and its benefits for businesses.
External Warehouse Management System Basics
An external warehouse management system tracks the inventory received through all regular warehousing services. It undergoes placing, storing, picking, staging and loading. All of these processes are linked to financial systems that automatically generate billing and new inventory information. Through additional portals and collaboration with vendors, sales partners, and clients, the logistics management company’s WMS system can link all internal warehousing services with external data. This gives a certain business a real-time overview of the entire supply chain that can adapt to product flow rates to accommodate slow-downs or volume surges. Below are some of the benefits of external warehouse management system.
No More Lost Inventory
External management system reduces the possibility of lost inventory since every item is assigned a particular warehouse slot and tracked from receiving to shipping, no product should be misplaced.
Cheaper Warehouse Costs and Employee Productivity
External management system provides a more efficient placement that reduces labour costs. External management system enables more inventory that can be managed with less space.
Optimum Supply Chain Systems
For some, storage space are rendered useless. Consequently, excess inventory is wasted money. But external management system eliminates uncertainty. External management system allows for each stage of the supply chain, including warehousing services, to reduce inventories and safety stocks to optimal levels.
No More Surprise and Emergency Deliveries
External management system allows transparency since demand changes can be anticipated faster than ever. As a result, there will be no more surprise and emergency delivery and inventories may be adjusted sooner to meet the unexpected shift in demand.
Automatic Inventory Tracking
An external management system integrates elements of warehousing services. For instance, if a single order is received the inventory automatically starts to move, invoicing is created, trucks are loaded, and deliveries are scheduled.
Efficient Production
An external management system promoted efficient production through shared forecasting and real-time inventory information. It also allows matching forecasts with lead-times and inventories, production and purchasing managers can improve product flows. Aside from that, it could expand accessibility which allows key personnel to access information with any device from everywhere. With multiple access capabilities, the client, warehouse, and shipping companies can track the same product and delivery status information.
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