How to Choose the Right Inventory Software for your Warehouse
FTx Global (FasTrax Warehouse, Inventory)
Warehouse technologies have been rapidly evolving. Speeding up efficiency, diversifying operations, and offering lightning-fast fulfillment times are imperative if a company wants to maintain a competitive edge, attract and retain customers, and make the most of their employees’ time.
Investing in automation is a necessary aspect of upgrading your warehouse workflow. Companies can also get a stronger handle on their supply chain management if they employ a warehouse management system with comprehensive inventory control, but if you didn’t know that, you wouldn’t be here. So, let’s dive into the characteristics of the right warehouse inventory software for you!
We’re going to keep things simple and give you three rules to live by while running your warehouse. If your warehouse inventory software doesn’t support these rules, then you might need to upgrade your technology and purchase a solution that does.
Don’t let short shipment holds bog down the entire warehouse
Inventory inaccuracies start when the quantity of an item received is less than what was ordered. In the industry, we call this “short-shipped” because the receivables were “short” of the quantity expected. Experienced warehouse managers know that late-arriving packages are usually the cause of this kind of discrepancy pileup. When short-shipped orders happen, they can create an inventory freeze and warehouse workflow bottleneck, and truncate the whole warehouse’s ability to fulfill other orders.
With a detailed, real-time, and comprehensive warehouse inventory software system in place at your company, discrepancies will be caught upon arrival, reconciled faster, and rather than freeze your warehouse’s entire inventory, your fulfillment systems can still move forward with orders that aren’t associated with the SKU items in question.
Normalize adjustment codes across inventory pools
No matter what size your company currently is, whether it occupies one warehouse location or several, it will gradually grow over time. When companies use different warehouses in various locations—even across several states—the inventory tracking becomes exponentially more complex. Each warehouse location has its own inventory pool to track, yet as the company owner, you need to know what the total inventory is any time you choose.
The answer to this challenge includes using intuitive inventory software that normalizes inventory codes across all warehouses as part of your overall maintenance routine. Normalizing codes provides a better idea of the items that are potentially available and helps forecast when an order can be fulfilled.
Connected inventory-adjustment system
Be sure to pick warehouse inventory software that includes a straightforward, centralized management tool so that you can identify shipment holds and sync inventory adjustment codes. You need to be able to easily and efficiently manage any changes therein. This is the most important way to improve short-shipped rates. Be certain that all of your warehouse databases and other inventory processing systems are connected and working in tandem to highlight inventory discrepancies and stop issues before they start.
By this point, you’re probably convinced of the importance of all of the features we’ve gone over, but do you know which software to choose?
FasTrax Warehouse gives you complete control of your inventory, no matter how many warehouse locations you have. Price lists are assigned to account groups to easily assign them to customer accounts. Daily snapshots are taken of your inventory, allowing you to run reports on your own schedule. And using our proprietary software allows you to see at a glance the quantity available on order and on hand for any item.
- Assign price lists to account groups and easily correlate them to customer accounts
- Our Price Lists software supports tax and margin percentage pricing to help you see your bottom line clearly. You can add and discount base prices by percentage or dollar; you remain in control
- Location picking comes with up to 10 location levels per item. Our pick sheets and handheld wireless devices allow you to efficiently pick orders and eliminate unnecessary trips around the warehouse floor
- Our software solution comes with EDI support so that you’re never alone navigating the collection and routing of electronic transactions
Let FasTrax Warehouse handle the heavy lifting of your inventory management! Click here to learn how FasTrax Warehouse can accurately track your inventory and automate your daily warehouse operations.
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