Managing your inventory and a warehouse is a never-ending process as long as you are running a business. Warehouse Inventory Management (WIM) becomes increasingly time-consuming and expensive as your business expands. The more orders you receive, the more time you will have to replenish your inventory and arrange your warehouse.
Aside from using more effective storage methods and other instruments to decrease manual labor and human error, WIM may also benefit from implementing automation and other methods that assist save expenses.
What is Warehouse Inventory Management (WIM)?
Warehousing and inventory management involves many steps, such as receiving and storing products, managing warehouse workers, and maximizing storage space, all of which directly influence the customer experience.
What are the Benefits of Warehouse Inventory Management for Your Company?
Logistics expenses and supply chain efficiency are directly related to how well you handle inventory in a warehouse. When you think of inventory management at a warehouse, you are likely to think of stocking shelves. For this reason alone, many businesses choose to outsource their inventory and warehouse management to a third-party logistics company, which has a wealth of experience in this area.
DTC (Direct to Consumer) businesses that run their warehouses should invest in enhancing warehouse inventory management for the following five reasons:
1. Improved Accuracy of Order Fulfillment
The order fulfillment process will be slowed down if your warehouse is maintained poorly. The majority of your warehouse problems with orders result from sloppy inventory management, poor packing/picking procedures, and a lack of stock control.
You can dramatically enhance order accuracy and order fulfillment speed by employing improved warehouse management technologies.
2. Increased Warehousing Efficiency
Suppose your warehouse inventory is correctly managed and recorded. In that case, there is more time and mental capacity available for strategic activities, such as logistics growth and expansion.
You will save money on labor, but you will also get orders out faster and correctly if you consider strategies to assist your employees become more productive.
3. Improved Shipping and Delivery Times
Speed of delivery can also be affected by how you handle your stock of goods in the warehouse. Warehouse procedures may be streamlined in various ways, from streamlining order processing to growing your supplier base by distributing goods among numerous fulfillment centers.
Many Direct to Consumer (DTC) companies use solutions that automatically update stock levels and notify customers of online order tracking to speed up the delivery process.
You can easily handle a bigger volume of orders if you find the best Warehouse Inventory Management to simplify the delivery procedure.
To your benefit, you can save money on labor, storage, and fulfillment expenses with proper WIM. Just a few of the methods to boost your bottom line by optimizing your supply chain include:
- Managing storage
- Investing in automated processes
- Arranging inventory to expedite the picking and packaging process
- Applying technology to automate processes and eliminate human error
Renting a warehouse does come at a price. However, online retailers are increasingly outsourcing storage to save both time and money, hence improving their profit margins and supply chain, as a result.
4. Improved Level of Customer Satisfaction
Delivering customer orders on schedule and in the correct quantity are the hallmarks of a successful warehouse. Warehouse inventory management improves customer satisfaction by reducing shipping costs, increasing order accuracy, and reducing delivery times.
With effective warehouse operations and inventory management, you can speed up returns management. You can process returns and refill things more quickly when an order problem or when a client needs an exchange.
The Inventory and Warehouse Management Solution for eCommerce Businesses
Logistics becomes increasingly difficult as your company expands. Fulfillment and logistics services provided by NimbusPost include:
- An expanding worldwide distribution network
- Unique technology with designed inventory control capabilities
- Extensive logistical knowledge and support
Using NimbusPost, you can store your inventory at one or more of its fulfillment center locations and have complete access to the order and Warehouse Inventory Management process from one dashboard.
NimbusPost can help you improve inventory and warehouse management in the following ways.
1. System for Managing Warehouses
Powered by a proprietary WMS, NimbusPost’s fulfillment distribution network offers the merchants a complete view of the retail fulfillment process.
Aside from order tracking numbers, the NimbusPost dashboard provides comprehensive visibility into performance metrics such as order fulfillment speed, orders delivered on time, error rates, and more.
2. Consistent Optimization of the Warehouse
Outbound and inbound logistics are also handled by NimbusPost, allowing eCommerce business owners to spend less time and money.
Through the integration of WMS and merchant dashboard, the company can provide you with an overview of your order progress and inventory counts and how well it is meeting the service level agreements (SLAs).
You get access to real-time inventory and order data. Complete visibility into the whole supply chain may be achieved by tracking inventory when it is received, stored or put away, selected and packed, sent with the carrier, and delivered to its final destination.
NimbusPost is a 3PL with a global fulfillment network. It uses cutting-edge technology, including Warehouse Inventory Management. When it comes to the complex and time-consuming inventory and warehousing responsibilities, NimbusPost can take them off of you.