There are a few things that high performing SME warehouses have in common, and a thing she all have in common.
That is, they optimize their operations and resources to get more out of what they have, focusing on increasing their daily warehouse ROI.
To get the most out of your growing warehouse, you need to improve accuracy, reduce errors and waste, save time and find ways to get more out of your resources. This list outlines the top 5 things you can do today to improve your warehouse ROI.
Warehouse ROI is based on operating efficiently and having the right systems in place to capture and control data – and this starts with having the right systems in place.
No logistics company operates in a vacuum, and having a cloud-based warehouse management system (WMS) gives you the ability to connect and streamline data sharing between you, your customers and your supply chain partners.
5 ways to increase your warehouse ROI
- Integrate your WMS/TMS software for seamless data flow
It’s essential to think about how information moves in and out of your warehouse and who else you need to communicate with in your supply chain to streamline inbound and outbound inventory. This creates more transparency in the supply chain for all involved.
Having a complete integrated cloud-based WMS and TMS gives you a huge boost in efficient data sharing and optimizing workflows around order acceptance and shipping. For example, you can optimize your out-of-stock by using delivery addresses and routes to pick and pack orders based on delivery routes.
You can even delight customers and partners by streamlining inbound and outbound orders cross-docking. A WMS app equipped for cross-docking gives you insight into incoming and outgoing orders by simply using barcode scanning to accept inventory, sort it and assign it to a new delivery run – all from the palm of your hand and directly from the dock.
- Keep inventory records up to date
Using a cloud-based WMS and mobile app to capture, record and track incoming orders, stock movement data and outgoing orders gives you greater accuracy, simplifies reporting and has the right data for planning.
When you look at increasing the return on your warehouse investment, the more you can save time, optimize processes and simplify workflows, the more you can accomplish in a day and the greater your ability to scale up your business. bowls.
Keep your records up to date across multiple platforms and users with automated processes to increase ROI.
– Assign orders for picking and track orders as they progress
– Update stock reports in real time
– Automate rate calculations as inventory is accepted, moved and picked – Provide customers with 24/7 access to current reports from their own customer dashboard
- Save time and earn more? That’s right.
Did you know that you can reduce administrative hours by 40-60 hours per week while increasing your daily output by billing automation and rates?
Make use of one WMS with automated rate calculations also allows you to set up complex rate maps for different customers, services, seasons or other factors — capturing all billable costs — from flat rates to ad hoc charges and also levies, without the time it takes to manually calculate each load.
- Implement barcode label scanning
A simple way to increase your ROI is to reduce errors and mispicks. Using barcode scan to identify warehouse locations and confirm which items are being picked increases the accuracy of your warehouse operations with ease.
Easily scan locations and inventory during storage and retrieval of the warehouse for added assurance every step of the way. It provides a safety net, where mistakes are rectified in the moment, increasing your day-to-day accuracy and ensuring smoother warehouse operations.
Would you like to know more about barcodes in your warehouse? Then view this article everything you should know about barcode scanning in warehouses.
- Use warehouse locations
The layout of your warehouse can have a huge impact on productivity, order processing speed and optimizing storage speeds.
It can also help you optimize other workflows such as inventory storage and order picking. Depending on the goods you store and the services your warehouse offers, there are different ways to optimize your space. This mainly comes down to allocating storage locations for accurate identification and optimizing storage by how often or how quickly the goods will be needed.
Depending on the goods you store, you may want to store goods by lot; First in, First out (FIFO) or First Expired, First Out (FEFO), through temperature zone, or by using Replenishment to store fast-moving goods in easy-to-reach locations.
Contact the friendly team at CartonCloud today to learn more about increasing your return on investment for your warehouse operations, or learn more about our easy-to-use, cloud-based WMS.
Start optimizing your operations and increase your warehouse ROI Today.