If a typical day finds you calling around the company looking for the last widget because once again your warehouse is out of stock, something is amiss in your warehousing and distribution system. A combination of improved warehouse management systems and financial and ERP tools such as Sage 100, Sage 300, or Acumatica—integrated and accessible throughout the company— may prevent those pesky out of stock messages.
Predicting the Demand Curve and Order Cycle
It can be difficult to predict your company’s demand curve without historical data. Some industries find that orders fluctuate greatly from year to year, seasonally, or even monthly. That’s where having accurate, real-time data really comes in handy.
With Sage 100, Sage 300, or Acumatica ERP integrated into your warehouse management system, you’ll be able to run reports on sales to assess the demand curve and predict future orders. The order cycle can be assessed and analyzed, too, and changes made in your stock levels based on predictions derived from data. These systems use accurate, timely data, so you are always accessing the latest information. It makes predicting demand much easier throughout the organization.
Technology to Use the Three M’s: Monitor, Measure, and Manage
Warehousing and distribution managers talk about the “three M’s”: monitoring stock levels, measuring current stock and forecast demand, and managing supplies according to that demand level.
With the right data at your fingertips, each element among the three M’s becomes easier to address. Real-time data accessed through cloud-based systems helps you monitor stock levels and react swiftly to increased demand, marketing pushes that create demand, and other situations that may increase orders and necessitate reorders.
Measuring exiting inventory is also easier. Accurate data, transmitted through the swipe of a barcode reader or even via smartphone scan, helps you get a complete picture of what is available within your warehouse.
Managing inventory is also easier with the right systems in place. Stock can be moved from one location to another to fulfill pending orders. Managing bin locations, shelf areas, and other tasks related to warehouse management can also be accomplished quickly with the right data at hand.
Knowledge Is Power
When it comes to warehouse management, knowledge—specifically, accurate, timely data on your stock situation—is power. Without it, your work is based on guesses.
Accurate and timely data helps you run a more efficient and effective warehouse. Knowing what is in stock, how much is left, how long it will take to replenish key items, and where items may be housed within the company is critical. Warehouse management systems, coupled with good business software like Sage 100, Sag 300, or Acumatica ERP make the task easier by synthesizing and collating data from numerous parts of the organization. Access via web-based interfaces ensures that no matter where you are, you can see at a glance the information that will help you run your business. It’s powerful knowledge that will help you manage inventory levels so you rarely run low on anything again.
Mindover Software for Better Warehouse Management
Mindover Software provides consulting and services to warehousing and distribution companies throughout Texas, Idaho, and Hartford, CT. We can help your warehouse run more efficiently and provide you with the right tools to gather accurate and timely data. With the right data, you can better manage your business. Learn more on our website or contact us today.