FTx Global (FasTrax Warehouse, Technology Sector)
Technology companies are always on the lookout to gain a competitive edge, and as a result there have been major developments in improving warehousing software to accommodate this growing industry need. When warehouses also manage their own engineering and manufacturing, the organization of their logistics can become complex. Luckily, new warehousing software features have emerged to help business owners stay on top of their warehouses, manufacturing facilities, and engineering plants.
In this article, we will introduce you to the latest features to look for when upgrading your warehousing software, especially if you produce hardware devices in the technology sector.
Today, manufacturers are making a concerted effort to greatly reduce the quantities of inventory items they store in their warehouses. Warehouses, therefore, are evolving into “flow-through” or “cross-docking” facilities. This means that companies like yours could be in the throes of restructuring manufacturing-to-warehousing workflows so that your finished & packaged tech products enter one side of the warehouse, are reconfigured into shipments, and then are immediately moved out into delivery trucks on the other side of the warehouse.
High-performance warehouses have adopted this model and cross-dock 50% or more of their manufactured goods. That being said, no matter how fast the flow-through becomes, warehouses will continue to be used for storage. Though the tech devices that you produce can be “made-to-order”, which would reduce taking up warehouse space, it isn’t possible to fully avoid storing inventory altogether. Warehousing will still be required for the foreseeable future, and the most successful technology manufacturers have made the necessary adjustments in their warehouses to meet the reduced need for space and the increased complexity of order-fulfillment turnarounds.
Have you made the necessary adjustments, too? And if so, does your warehouse inventory software have the depth and functionality to reflect this new, streamlined, and fast workflow?
Bear in mind that even if you have made the necessary adjustments, you will still need your warehouses to provide supply-chain flexibility. In other words, you must have a “shock absorber” in place. What specific “shocks” will your warehouse need to absorb? The first occurs when customers request product modifications after your facility has already built and fulfilled their tech device orders. This could clog up the workflow and storage system of your warehouse. Secondly, the business relationships you maintain regarding your manufacturing could fluctuate. Your contract to purchase ferrite from China, for example, could expire, freeing you up to purchase the same metal from another supplier. This relocation and shift in supply-chain activities more often than not falls on the warehouse personnel to track and manage. You are going to need your warehouse inventory software to be able to record every exception to every rule, no matter how much your supply chains are shaken up.
The lines between manufacturing and warehousing have blurred within the technology production industry. This blur has impacted warehouse employees the most in that they now face serious challenges, including:
- Pressure to decrease manufacturing & warehousing costs
- Greater corporate & customer expectations for accuracy
- Ongoing efforts to reduce warehoused inventory by means of issuing postponement programs, consolidating warehouse facilities, and focusing on cross-docking programs
- Strategies to streamline workflow and minimize inventory
- Accommodating electronic & online orders with same-day shipping
- The need to perform light manufacturing in order to prevent technology goods from being sent back to the manufacturing plant
Your company will have to upgrade its warehousing & inventory software in order to meet these new challenges and evolve into full-blown distribution centers that are equipped to predict and record inventory movement as efficiently as possible.
In 2021, the software you use at your warehouse needs to be fully-customizable, because nowadays warehouses are no longer limited to storing inventory, as we’ve highlighted in this article so far. If your company has gone beyond warehousing, and also doubles-up as a kitting and assembly hub, then the software used at your facility must be able to reflect your real-life workflow.
With customized warehousing in place as an aspect of your technology product manufacturing plant, you will be able to significantly speed up your assembly and delivery processes, while maintaining your core engineering and manufacturing autonomously. Be wise and go with inventory software that comes with warehouse automation and operations such as picking, barcode labeling, and other technology-infused features that reduce human error and speed up order-fulfillment times.
Does your manufacturing company offer end-to-end product services such as prototyping, patenting, designing, engineering, crowdfunding, and marketing? Your software needs to be able to handle every facet of your business.
Your manufacturing factory and warehousing facilities might also offer the full gambit of products and services to your customers including sourcing, inspecting, assembling, and checking quality control, which means that you need comprehensive functionality from your warehouse inventory software. Your customers go to you because you are an industry leader in prototyping and engineering technology equipment and devices, so why not use the best inventory software solution on the market today to take care of all of your operational needs?
If you own a technology product manufacturing company that offers end-to-end technology development for consumer devices that include Internet-of-Things products, Smart Devices, and Tech Wearables, then FasTrax Warehouse Inventory Software was built to accommodate your complex business and offer accurate, comprehensive reporting that will help you make faster, wiser project decisions.
FasTrax Warehouse gives you complete control of your inventory, no matter how many warehouse locations you have. Price lists can be assigned to account groups to simplify your invoicing and accounting. Daily snapshots are taken of your inventory, allowing you to run reports on your own schedule. And using our proprietary software allows you to view item quantities that are available at any given time, both on-hand and already-ordered with your vendors.
Let FasTrax Warehouse handle the heavy lifting of your inventory management! Click here to learn how FasTrax Warehouse can accurately track your technology devices & equipment inventory, and automate your daily distribution warehouse operations.
Learn more about FTx Global and what our services can do for you by visiting our website.