Warehouse inventory management +Technology= No -Out-Of-Stock Situation Ever!
Warehouse managers are expected to persistently evaluate their warehouse inventory management state and work on the area which needs optimization and improvement for quick ROI for the entire supply chain. Top-notch retailers and warehouse firms have stopped relying on manual tasks which are prone to human errors either with little or complete technology integrations.
To efficiently manage the inventory in the warehouse and smoothly handle the volume and complexity of workloads required in the retail sector, here are a few essential tips:-
•Warehouse inventory management needs automation in tasks like product picking, storage, and retrieval to leave expert human resource for more complex work. Automated guided vehicles can assist in transporting pallets/bins throughout the warehouse facility. Robotics can be especially useful where products require shorter shelf life, first-in, first-out (FIFO) turnaround times, and needs to be handled carefully.
• Retailers must make use of demand prediction tool to exactly evaluate a future stock, sales, customer behaviors/visits/baskets, revenue, etc… This will help in processing a large amount of date which happens in transactions across multiple channels. Warehouse managers must be able to accept and deal with unexpected contingencies like damaged or stolen goods, delay shipments, etc…These situations can be handled with cybersecurity, warehouse robotics, tracking software, etc…
• Warehouse exposes staff and employees to several hazards like accidents, injuries, heart stroke, stress, etc…The managers can either make use of standalone technology or offer smart clothing to the employees to monitor the working environment.
Customers will keep on asking for variations either in color or size and warehouse inventory management with the latest technological advancements will be able to make best decisions with respect to optimal stocking points, order levels, merchandising via data analytics.