Warehouse Management System: Best Investment for Business Growth

Warehouse Management System (WMS), an indispensable part of ERP solutions, is helping warehouses transition from being cost centers to revenue. The software is supporting new digitally enabled supply chains and business models that require greater accuracy, speed, and scale.

Similar to manufacturing, warehouses, and the systems that manage them, are going through an inflection point. New business models are bringing new business challenges to the warehouse. A recent survey of 151 North American manufacturers found that the fastest growing manufacturers are using analytics, Business Intelligence (BI) and real-time monitoring to grow 10% faster than their peers. They are also achieving higher levels of accuracy and responsiveness compared to their competitors.

The blog will tell you how real-time monitoring is revolutionizing WMS to drive business growth in manufacturing industries.

Significance of Real-Time Monitoring in WMS

Manufacturers need a sophisticated solution for logistics that is directly related to the functioning of warehouses. The solution should also be able to manage finished products, track raw materials and subassemblies, optimize material flow through the production hall, automate the quality control checks and, ultimately, increase production.

For business owners, the warehouse is a margin amplifier and in order to derive maximum value from it, they need to visualize the exact level of stocks and their location, and also monitor and guide the activity of the operators so that the production tasks are met in time. Most importantly, the activities stated above should happen in real time. Cloud-based ERP systems have in-built modules of warehouse management that automate the workflow completely.

Key Trends in the Adoption of Real-Time Monitoring in WMS

Emerging business models need real-time monitoring to succeed in their goals, and that’s driving the adoption of IoT in the operation of WMS. Forrester says that IoT will be one of the main catalysts in driving the future of the Industry 4.0 revolution and this includes manufacturing systems.

The following heat map showcases a bigger picture of IoT adoption.

Lower transportation costs (37%), faster delivery times (36%) and new supplier and partner locations (32%) are the top three reasons driving the rapid adoption of WMS in manufacturing plants. Take a look at the following graphic to get a clear picture.

A 43% increase in the number of warehouses is expected to support new business models and the growth they’re delivering. Manufacturers are also predicting an 8% increase in the number of space expansions and 8% plan to relocate warehouses and Distribution Centers (DC) to support growth and new business models further.

Inventory accuracy is crucial in manufacturing processes and a good WMS can solve the issues associated with out-of-stock conditions, customer service, warehouse accuracy, and regulatory compliance.

Invest in the Best ERP Solution to Secure Your Business Growth

Growing your business is a matter of choice! When you think logically and choose the best ERP solution in the market, it will change your outlook towards business processes. Control ERP, an automated Cloud solution, is built on the lines of Odoo so that you can experience a seamless manufacturing experience and scale the ladder of success. If you have any queries or want to see the Control ERP in action, feel free to get in touch with us or schedule a live demo at your convenience.