Warehouse management system
Gone are the days of managing inventory with a clipboard, pen, and paper.
Instead, modern, software-based warehouse management systems (WMS) play a crucial role in helping organizations control and manage the day-to-day operations of their warehouses today, from tracking products and shipments, to sounding an alert when stocks run low.
These systems work by breaking orders into batches based on the location of the products, and logging them at various points throughout their arrival and stop-over at the warehouse. From there, staff directs the goods to where they need to be at any given time.
They also help to reduce the likelihood of errors in shipping, as well as help companies fulfill their orders more rapidly.
For businesses, having the right WMS can save time and costs, and allows them to maximize customer service and satisfaction.
And they recognize the potential. A recent market analysis report showed that the global WMS market is expected to grow from US$2.6 billion (€2.31 billion) in 2018 to US$9.3 billion by 2027.
There are several types of systems, including standalone ones that are developed externally, those hosted on the cloud, and those that are integrated into a company’s business process management or Enterprise Resource Planning system.
Recent technological advancements have given rise to trends in WMS such as using machine learning to better manage warehouses, by sensing and adapting to changing conditions without the need for human intervention.
What’s new with today’s warehouse management systems? Get the latest insights here.
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