Tag: Warehouse management

Optimize Your Warehouse Management Processes With SAP EWM

Streamline And Enhance Your Warehouse Management Operations With SAP EWM

Worldwide, companies spend an average of €300 billion a year on warehousing, either in-house or through third-party logistics. The rise of eCommerce and the growth of global supply chains increase warehousing operations costs for enterprises. In addition, with the pandemic heightening consumers’ interest in eCommerce, they expect instant delivery of products. To cater to this dynamic demand, some logistic companies increased the number of their seasonal employees. With this demand continuing to rise, it becomes imperative that warehouse management processes be optimized.

Read more: Warehousing Management System: Simplify Operations & Scale Your Business  

Warehouse management is currently undergoing a modern-day makeover to meet growing demands. Therefore, industry leaders must take steps to optimize warehouse management to keep pace with faster requirements and ever-increasing volumes. SAP Extended Warehouse Management (SAP EWM) streamlines, simplifies and optimizes your warehouse operations. This blog considers how SAP EWM can benefit your business.

Challenges In Supply Chain Management Today

Supply chains are at the core of business operations. Therefore, supply chain management needs to overcome several challenges that impact the bottom line of their business.

Read more: Top Challenges Faced By Logistics Management Today

Here are some challenges companies should be aware of:

1. Identifying Bottlenecks In Customer Service

Customers’ demands have become extremely specific. Plus, they expect to be notified about any possible delays. Therefore, supply chain management can benefit from advanced planning and scheduling systems that can help them identify bottlenecks. This can help them prevent delays or notify the customer of a possible delay.

2. Gaining High Supply Chain Visibility

Overall production cost is affected by several factors that go unnoticed. High supply chain visibility will help the management increase the system’s efficiency and eliminate wasteful steps. Such visibility can contribute to cost control.

3. Finding The Right Talent

Hiring and retaining the right talent has become increasingly difficult. Hence, it is beneficial to have a performance tracking system that allows you to gauge employee productivity and spot the right talent that could be trained effectively.

Read more: Warehouse Automation: Streamlining Operations

4. Ensuring On-time Delivery

Delivering goods on time is another challenge that can make you lose your customers to your competition. You can resolve these challenges with planning and scheduling software. It can help you receive and deliver the material on time.

5. Maintaining An Agile Production Plan

Lack of an agile production plan that does not reflect market changes can lead to inefficiency of production. You can remain agile by having a planning and scheduling system. This system helps you keep a tab on the effect of market changes without disrupting your current schedule. Those insights equip you to make the best decisions in response to those changes.

Read more: Understanding The Types Of Warehouse Management Systems

How SAP EWM Can Benefit Your Business

Statista forecasts the global warehouse automation market to surpass 30 billion U.S. dollars. And, Zebra warehousing vision study shows that 80% of organizations plan to invest in new technologies to be competitive. And 27% plan to utilize full automation by 2024. SAP EWM helps you capitalize on this.

Read more: How Robotics In Logistics Helps Improve Supply Chain Efficiency

SAP Extended Warehouse Management (EWM) is fast, agile, and powerful. It is designed to future-proof current supply chain technology and help your business grow.

SAP EWM can be deployed into many business environments. It can support both simple and complex warehouse processes at the granular level. It is a high-speed system that makes supply chain management more accessible and more efficient. SAP EWM can be configured to the organization’s specific needs and can be streamlined over different locations.

Here are some other ways your business can benefit from SAP EWM:

1. Optimize Task Management

In a standard warehouse, one person can be seen going to the same stock bin several times during the day. This happens when all orders that need to be picked for a day appear together, making it difficult to break them down.

You can optimize the picking process with SAP EWM. The platform uses various algorithms to employ the most efficient way to complete as many tasks as possible. This prevents pickers from wasting their time as they have to tread the same path constantly. Plus, SAP EWM’s voice picking functionality enables shorter search time and minimizes errors.

Read more: How SAP Helps Realize Voice-enabled Warehouse Operations

SAP EWM can easily integrate all processes to provide easy end-to-end operations management. It can take the burden off your team for outgoing shipments allowing them to tackle inevitable snags that need to be addressed.

You can link SAP EWM with your transportation management system for greater accuracy for delivery targets. It provides your company a holistic outlook alerting your team when to expect delays and other time-sensitive information.

2. Streamline Labor Management

Efficient use of time, effort, and resources can contribute to business growth. This is another point where SAP EWM can integrate with your WMS. The platform can provide structure in the workplace. With a good framework, each worker knows their location and responsibilities. Such an organized structure will help your employees enjoy more efficient task allocation.

SAP EWM generates real-time insights on workers’ performance, enabling managers to offer more constructive suggestions to improve efficiency. Subsequently, your employees develop more efficient and consistent work habits.

3. Control Costs

Not following the first-in, first-out method for perishables and inefficient use of space and labor can increase wastage. SAP EWM can help reduce wastage of perishables by identifying which units need to be picked first.

SAP EWM can maximize the use of the warehouse space by optimizing the location for each pickup time. It optimizes your space and the travel path of the pickers. All this will reduce your on-hand inventory and reduce your space costs without compromising on quality.

4. Boost Customer Relationship

SAP EWM can reduce delivery lead times and order accuracy errors. This increases customer satisfaction and results in more sales. Thus, SAP EWM elevates and improves relationships with your suppliers and end customers.

Read more: Logistics Management Software – Everything You Should Know

Leverage SAP EWM Capabilities With Fingent

Logistics providers must evaluate the best warehousing management solution for their specific needs. If your business is at a crossroads in choosing the best option for your warehouse operations, Fingent is here to help. Feel free to contact us to learn more about how SAP EWM can transform your business.

Fingent is a certified SAP silver partner and has assisted global businesses in successfully implementing SAP EWM. Our custom software development experts can guide and help you explore the flexibility in deploying SAP EWM and ensure it is the best fit for your specific business requirements.

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    About the Author

    ...
    Vinod Saratchandran

    Vinod has conceptualized and delivered niche mobility products that cater to various domains including logistics, media & non-profits. He leads, mentors & coaches a team of Project Coordinators & Analysts at Fingent.

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      Logistics Management Software – Everything You Should Know

      Logistics Management Software:
      Business Applications & Use Cases

      Let’s Discuss Your Project
      Pfizer became the world’s largest sterile injectables supplier during the pandemic because the company excels in its logistics management. Without logistics software management, neither can they store, transport, and distribute the COVID-19 vaccine to multiple countries, maintaining ultra-low temperatures.
      In today’s fast-paced environment with growing transport volumes, logistic management software play a key role in digitizing every touchpoint of the supply chain- monitor shipments, optimize delivery routes, communicate with partners, handle a gamut of operations, and oversee distribution with complete transparency. Investing in logistic management software streamlines your processes and eliminates workflow headaches, yielding positive results with significant changes in processes, procedures, and distribution.
      In this article, we will cover everything that you need to know about logistics management software.

      Table of Contents

      What is Logistics Management Software?

      Logistics management is a part of the supply chain that uses planning and implementation to store and deliver goods and services to the customer. Typically a logistics management system administers inbound and outbound transportation management, warehouse management, fleet management, processing orders, inventory control, managing third-party logistics service providers, and planning supply and demand. It coordinates several critical activities of the supply chain that range from product development to commercialization, such as production planning, sourcing, procurement, packaging, and dispatching. It also involves finding a suitable means to deliver goods and services to the end user.
      Logistics Management Software (LMS) simplifies logistics operations by refining the production cycle and making it easier to access important information quickly. Logistics management software helps businesses manage the various processes in the production cycle, from delivering raw materials to shipping the finished products to the consumers.
      Logistics Management Software Market has witnessed tremendous growth in USD million from 2017 to 2022, with the highest CAGR estimated to reach USD in 2029.
      Source: Industry Research
      Logistics software has become broader in its scope and functionality to deal with a vast array of operations and processes. It shares similarities with supply chain management software (SCMS), which contains tools that help deal with transactions, processes, and suppliers. The functionality of logistics management software extends to areas such as
      • Processing customer requests
      • Processing purchase orders
      • Inventory Management
      • Suppliers Management
      • Sales and Distribution
      Logistics management software can get rid of all the conventional approaches like paperwork and spreadsheets to simplify management. Consequently, logistics will become more refined and fast, changing how materials, goods, freight, sales orders, inventory, and production are managed. It has three variations: warehouse management systems, enterprise resource planning systems, and integrated supply chain management suites.
      Companies with an in-house logistics or supply chain division and third-party logistics providers utilize any of these different versions according to their requirements to efficiently manage their logistical and supply chain operations.

      Key Features of Logistics Management Software

      A logistic and supply management company must have powerful and functional management software to manage its operations, planning, procurement, and distribution of products, data information, and finances. If your company is looking to procure or build a logistic management solution, ensure it includes certain features necessary for the smooth functioning of shipment. Some of the key must-have features of Logistics Management Software include-
      An order management system effectively handles large volumes of online orders. It monitors and tracks all the orders from the time of placing an order till it reaches the delivery point. It manages all the processes like order receiving, scheduling, processing, storage, and shipping and delivery. Some features like automatic scheduling, real-time optimization and tracking, automatic bill generation, managing order status, and multiple payment gateways simplify the order management process for businesses.
      CRM modules store relevant information from customer orders, such as order dates, contact information, cargo status, order estimation, and payment information. This ensures that every transaction is recorded in one place to help logistics managers easily control the flow of inventory and easily look up the associated records whenever needed.
      With proper inventory management, organizations can easily monitor active orders, track shipments, and reorder supplies with real-time sales data and historical trend analysis. Logistics management organizes, tracks, and processes orders as they come in, thereby saving the organization’s time and money by automatically fulfilling orders as they come in and reducing the risk of order errors or fraud.
      Warehouse management helps the owners and managers to monitor their physical warehouses in real time. It uses IoT devices, sensors, and smart storage tools to maintain optimal conditions for the storage and distribution of inventory with minimal human intervention. This translates to faster shipping, lower cost, optimized storage, tracking, and order fulfillment.
      Efficient supply chain management helps to maximize customer value, increase profitability, and achieve sustainable competitive advantage. It manages the transformation of goods from raw materials to finished goods and links the production, shipment, and delivery of goods. The activities involved include discovering optimal sourcing locations, determining the optimal quantity and type of inventory required to meet demand, and identifying the best delivery locations for the products.
      The demand forecasting feature helps organizations to plan inventory and supply based on the increase and decrease in demand. Demand planning tools help analyze a product’s lifecycle based on historical sales data, identify trends, and predict future demand. This feature helps to avoid ordering too much or too little inventory.
      Transportation management capabilities help businesses to plan, execute, and optimize the physical transportation of finished products from warehouses to customers. It helps fleet managers to identify optimal delivery routes, streamline driver assignments, and speed up pickup and delivery operations, thereby minimizing costs. It also helps to predict when their delivery times will be the longest and shortest.
      Modern logistics management software includes a real-time visibility feature to obtain the status of every product and shipment in the supply chain. This allows managers to access real-time information about the location and progress in every stage of the supply chain, helping them make informed decisions about when to order more inventory and stop production.

      Business Benefits of Using Logistics Software

      Proper planning, sourcing, production, delivery, and return are required to improve supply chain performance. Handing these processes to logistics management software provides operational fluency to the supply chain. With logistics management software, a company or 3PL (third-party logistics) provider can avail of the following benefits.
      • Optimization and cost reduction of the supply chain from 9% to 4% can double profits.
      • 70% believe that logistics management software is a key driver for quality customer service.
      • Good logistics management software can provide 24x7 customer support.
      • Smart and intelligent route planning can ensure a good fulfillment rate and customer satisfaction.

      Refine Transportation

      Transportation is a crucial and vital area in logistics management. It incurs the most fuel, labor, energy, and shipping charges. Using logistics software helps to simplify and reduce the cost incurred in transportation considerably. Logistics management software makes it easy to analyze data and make relevant decisions for lowering costs and maximizing efficiency.

      Faster Delivery

      The logistics and supply chain industry are prone to face several issues affecting delivery and delays. By incorporating logistics software, businesses can rapidly deliver their products to customers. Logistics management software significantly improves delivery time by speeding up the production cycle and choosing a suitable carrier. It ultimately reduces shipping delays to a great extent.

      Minimize Human Errors

      Another notable advantage of implementing logistics management software is minimizing human errors. Manually analyzing large quantities of data is tedious and time-consuming, which leads to flaws. Logistics software simplifies work by quickly processing these data and seamlessly pushing forward the operations with minimal delays.

      Automate Functions

      Process Automation is a tremendous boon of logistics software integration. Logistics software easily automates certain functions like creating shipment routes, load planning, and tendering of loads to carriers. Moreover, it eliminates paperwork, which helps deal with the processes efficiently and timely.

      Reduce Costs

      Logistics software can automatically compare different shipping services, delivery agents, and transportation methods to find the least-pricing ones. The other way logistics software reduces costs is by lowering the expedited shipments through improved shipment planning.

      Customer Support

      Logistics software provides good customer support service tools for all assistance. It provides a platform to centralize all customer support needs. Chatbots, automated alerts, notifications, and virtual assistants improve customer service speed and quality.

      How To Overcome Logistics Challenges with Logistics Software

      The logistics industry is complex and involves a lot of complicated processes and hassles. With the pandemic, businesses were compelled to rely more on logistics management software to pace with changing demands and provide essential items to customers. To address the pressing challenges in logistics management, a modern logistics software solution promises to add increased scalability, speed of delivery, efficiency, and accuracy.

      1 Rising transportation costs

      With the hike in fuel prices, the cost of transporting goods increases substantially. The logistics industry is greatly impacted by the challenge of maintaining low shipping costs for delivering products to customers.
      The route optimization feature in logistics software can help the logistics industry overcome this chaotic challenge. With the right implementation, companies can easily detect the fastest route to deliver goods and save fuel expenses. Hence, this is economical for the logistics company and customers, as they can avoid paying high shipping costs.

      2 Delay in delivery

      Another important problem is the inadequate waiting time for products. Due to climatic conditions, factory shutdowns, port capacity issues, or other disruptive events, delivery of products may be slowed or sometimes comes to a standstill.
      Logistics software makes it easy to automate your delivery processes and increase efficiency. Get timely updates on the movement of products using tracking software or real-time visibility of shipments. This helps to give a bigger picture of when the goods are dispatched, procured, and when they will be delivered. Automation saves your time lost when working manually and provides accurate data and tracking, thereby improving the overall delivery process.

      3 Lack Effective Coordination

      The major problems in the logistics industry creep in from its inconsistency and fragmentation. With multiple parties involved in the logistics supply chain- manufacturers, storekeepers, drivers, managers, and customers, it is difficult to have centralized control over their communication path.
      Such issues can be alleviated by adopting effective communication and real-time visibility software systems that can be integrated directly into the warehouse management system, providing access to partners and clients. This puts everyone in the loop with proper visibility of the various stages in production and distribution.

      4 Meeting the demand surge

      Demand surges or panic buying influences inventory stock levels and customer service satisfaction and can also impact the entire supply chain. Filling the inventory stock on time is a massive operation and requires proper planning.
      Forecast accuracy and automation help get a proper inventory stock overview and meet perpetual demand fluctuations. To fulfill growing delivery volumes and maintain customer satisfaction, logistic software with a digitized system helps to orchestrate these operations effectively and flawlessly.

      5 Warehouse management errors

      Flaws in warehouse management are common such as misplaced products, packing or shipping wrong products, incomplete orders, or damaged items during delivery. Such human errors can become costly when they are not regulated.
      The best way to reduce such mistakes is by leveraging an effective and updated warehouse management system. Logistics companies must invest in modern technologies like artificial and augmented intelligence, advanced analytics, automation, and warehouse robotics to manage their inventory and improve business scalability and competitive edge.
      IoT helps to improve the logistic processes by providing proper visibility in every stage of the supply chain and maintaining inventory efficiency. Integrating an IoT device in the logistics ecosystem enables clear-cut transparency in various operations like real-time visibility of goods, condition monitoring, storage and warehousing, and fleet management.
      Logistics companies use AI to identify patterns in data and churn insights. It helps to advance operations such as intelligent transportation, route optimization, demand forecasting, budget planning, etc. McKinsey reports that AI-driven logistics optimization can reduce costs through real-time forecasts and behavioral coaching. The potential incremental value of AI in the logistics and transportation industry (89%) will be more than other analytics techniques.
      Over the last few decades, innovative logistic robotic companies have worked hard to mesh AI and machine learning, better sensors and response capabilities, warehouse management software, or logistics management software. Recently, warehouse robotics in the supply chain has picked up pace exponentially. There has been colossal funding and investment in the industry. For example, Alibaba invested $15 billion into robotic logistics infrastructure, and Google invested $500 million into automated logistics for JD. It is also estimated that the global market for warehouse robotics in the supply chain will reach a market value of $22.4 billion by the end of 2021.
      In a pandemic-troubled world, contactless delivery is more critical than ever. eCommerce companies and carriers face increasing pressure due to the surge in online shopping. It’s crucial to stay agile by ensuring business continuity. At the same time, it is also vital to remain safe and meet delivery needs. Electronic parcel lockers, contactless parcel delivery and collection, and self-service pick-up automate delivery processes to reduce physical interactions between customers and delivery agents. Custom logistics software applications can help fulfill the increasing demand for last-mile delivery. Fingent helps build healthy tech partnership ecosystems to ensure uninterrupted supply and distribution of your products and services.
      Automating warehouses promises to streamline processes and improve efficiency, speed, and productivity with a considerable reduction in human interventions. Many processes, such as procurement, distribution, customer service, etc., can be automated along a supply chain. The Global Logistics Automation Market size was $50.9 billion in 2020, but its CAGR of 12.4% may grow to $82.3 billion by 2026.
      Blockchain, also known as distributed ledger technology, can record transactions between parties securely and permanently. The shared and secured databases enabled by blockchain help avoid intermediaries and third parties verifying records and coordinating supply chain transactions. Blockchain helps increase the traceability of the material supply chain, improve the credibility and trust of shared data, digitize physical assets like contracts and critical documents, streamline administrative processes, reduce costs, and enable effective auditing of supply chain data.

      Example of blockchain application in logistics: The international logistics giant DHL uses blockchain-based serialization of pharmaceutical drugs and products to ensure that the products come only from legitimate manufacturers, not counterfeit, and are adequately tracked and traced through their journey from origin to consumption.
      The emergence of sensor technologies and AI has contributed heavily to the rapid growth of predictive maintenance in the logistics industry. Supply chain leaders want to utilize data effectively to optimize predictive maintenance, forecast demands, adjust inventory levels, improve cold chain transportation, and protect the integrity of the supply chain. Smart and optimized data management through predictive analytics and AI allow logistics providers to refine and transform the supply chain in the coming years.
      Cloud-integrated logistics management software allows real-time price updates, inventory, and tracking. It enables real-time accuracy and 360-degree management of processes and systems. You can track a product’s lifecycle, from ordering to distribution. It significantly cuts down the costs of lost products, missing deliveries, locating a shipment at any stage of transport, and rerouting a misdirected shipment. Cloud-based logistics software allows everyone in a trade network to communicate and share real-time data, make decisions quickly, and scale on demand.
      Autonomous vehicles enable the delivery of goods without any human intervention. This helps the supply chain respond quickly and more quickly to customer demands. It helps to deliver goods safely and faster while improving vehicle safety and eliminating human errors. It significantly contributes to fuel efficiency, performance, and cost.
      Elastic logistics helps companies upscale or downscale their warehouse operations and resources efficiently in the event of changing demands. It can tackle the challenges of supply chain companies, amending the production lines, including managing space in a warehouse, better inventory management, and distribution of goods without jeopardizing the current working of the facility or incurring higher costs.

      Choosing the Right Logistics Management Software

      With the trends shifting logistics management in a progressive direction, the need for software solutions in the field has become indispensable. Businesses, whether focussing on e-commerce or delivering services, can benefit from having logistics management software. However, the real question is finding the right kind of logistics software since the requirements vary for each business.
      Before settling on software for logistics management, it is vital to understand the daily requirements and challenges a business faces. Carrying out a detailed analysis can help identify deficiencies in the existing logistical operations of a business. Besides that, it can suggest measures to redeem any discovered shortcomings in the cycle.
      There are several essential factors to consider when deciding on logistics management software. Firstly, it should contain a basic set of functions that can aid in simple logistical management operations. Besides that, numerous other things should also be present in the software to tackle the wide base of a business’s logistical operations and processes.
      Here is a checklist of the essentials to look for while choosing logistics management software.
      Refer to the chart below to get a grip on the overall profile of any software logistics management:
      With logistics pushed to the forefront of business operations, leveraging the right technology can make your business compatible with the changing environment.
      Outsourcing to a software development vendor will help deploy scalable software for logistics management into your entire supply chain operations. A global software solutions provider like Fingent can give you the advantage of custom logistics solutions based solely on your requirements.

      Common Business Applications of Logistics Management Software

      #1 Quickly respond to logistics
      RFQs
      Employ automated chatbots
      #2 Identify financial discrepancies in
      invoices
      Use of AI or ML techniques
      #3 Cargo movement &
      collection
      Implement warehouse automation
      #4 Better customer service
      Use of chatbots and virtual assistants
      #5 Demand forecasting
      Employ AI-powered predictive analytics
      #6 Good inventory control
      Adopt an ERP system
      #7 Displaying route information on drivers’ windscreen
      Use of AR or VR devices

      Use Case # 1 Quick Response to logistics RFQs

      Logistic operators must respond quickly to client requests and schedule and process orders. Implementing bots helps respond to RFQs on time and speed up the quotation process with less human intervention. Bots can help provide timely quotations and improve the chances of winning the RFQ. Bots can also support increasing sales because of their 24/7 availability and faster response rate.

      Use Case # 2 Identifying invoice discrepancies

      On many occasions, the invoices have price differences with the order or quantity differences between the receipt of the goods. Such scenarios in the logistics industry can be avoided using artificial intelligence (AI) or machine learning (ML) techniques. AI uses Natural Language Processing (NLP) tools to extract essential data from invoices to identify budget discrepancies.

      Use Case # 3 Displaying route information on drivers’ windscreen

      Logistic companies use AR/VR to transport goods, ensuring the delivery of goods is safe, on time, and effective. A driver traveling with the load would find it easy and convenient to find essential information about traffic jams and alternative routes displayed on the vehicle's windscreen. Or the relevant information can also be shown on a smart glass that can be worn by the driver while driving. Such innovative methods help to save time rather than checking information on a separate gadget.

      Use Case # 4 Cargo collection and movement

      Warehouse automation can automate the movement of goods to and from warehouses with minimal human assistance. Businesses can eliminate repetitive physical work, labor-intensive duties, and manual data entry and analysis. Warehouses can employ robots for tasks like cross-dock transportation and moving cargo from the warehouse to the shipping zone, and automated software can record the movement of that inventory. This helps save upfront costs, from improving operations to minimizing human error.

      Use Case # 5 Delivering Better Customer Service

      Logistic companies must always be prepared to meet customer needs appropriately. Automated customer service or tools like chatbots and virtual assistants can answer customer queries regarding delivery status, consignment location, and delivery time. The logistic system must be automated, bridging gaps between disparate IT systems with quick access to information to provide quality customer service. This helps customer service agents become more productive and fulfill better customer experiences.

      Use Case # 6 Demand forecasting

      Demand forecasting is key to success and growth, which helps identify potential scope for expansions and potential threats. The AI-powered predictive analytics feature in logistic management software supports demand forecasting, which enables companies to predict demand, supply, and pricing within an industry. This feature combines historical data from various sources and helps improve demand forecasting accuracy. It will help companies to stock up sufficient quantities to meet customer demands without having a surplus. Moreover, it helps to organize cash flow better and plan the workforce to boost business efficiency.

      Use Case # 7 Better control of inventory

      An ERP system provides a centralized system to manage the inventory from all corners, with the ability to gather and bring information from different sources into one location, including current requests, inbound and outbound sales, stocks, or delivery status. It helps to streamline various operations and provides an overall picture of the entire logistics system- it tracks the live status of the goods, customer details, customer trends, transportation processes, and more.

      Challenges Faced By Companies Implementing Logistics Software

      Adopting digital technologies is still not as rampant a practice as it should be in the logistics industry. Many key decision-makers in companies link the process with the chaotic deployment of complicated technologies. Logistics companies plan to invest 5% of their revenue per year in digitalization. But the industry’s low profitability makes such funding challenging.
      0 %

      50% of US importers still use spreadsheets to manage their complex international supply chain.

      Adopting logistics management software would mean considering many things, from employee reactions to their impact on customer relations and costs and how they align with the business objectives. Navigating these considerations can be easier said than done, as logistic companies must tackle some serious mindset blocks to go ahead with digital transformation. Some common challenges companies face in implementing logistics management software are
      • Lack of awareness and knowledge of digital culture and training
      • Slow expansion of basic infrastructure technologies like CRM, auto-reporting, etc.
      • No clear vision about digitizing the logistic operations
      • Lack of IT competencies to provide adequate training
      • Data security and privacy issues
      • Unclear economic benefits of digital investments
      Fingent enables logistic companies to implement a custom logistic solution that guarantees modernizing traditional business processes and automating mundane tasks to increase efficiency and improve the business’s overall productivity without disrupting the existing system.

      How Custom Logistics Management Software Can Benefit Your Supply Chain

      Like every other industry, there is no one size fits all solution for logistics management, as the requirements vary from business to business. Logistics management software refers to a wide range of technology solutions like order management, transportation management, inventory management, warehouse, operations, and fleet management. Some logistics and transportation companies turn directly to ready-made or off-the-shelf logistics solutions. However, some prefer to choose customizable logistics management software to improve their services.
      Custom logistics management software is tailored just to your business and meets your exact specifications. They provide personalized logistic solutions that focus on fixing not just the general logistic issues faced by businesses but the ones that are specific to your company. These logistics solutions are based on the analysis of your business operations, requirements, and challenges you face, and then provide solutions to those needs.

      Why choose custom logistic software?

      • They provide all the benefits of ready-made logistics management software and features not provided by ready-made logistics software.
      • They provide a more personalized approach to the logistics issues faced by your business.
      • They are highly adaptable and sustainable to suit your business landscape.
      • They are scalable to meet your changing and future requirements.
      • They are tailored only for your business needs and can easily integrate with your existing systems.

      Fingent Builds a Custom Logistic Management Software

      We helped built a custom warehouse management and order processing software to simplify what was once considered complex order processing. It allows customers to place orders quickly and warehouses to track every order with improved efficiency and sophistication.
      A personalized transportation management system lets our customers view their order status in real-time and access up-to-date shipping data.
      It’s time to re-imagined logistics and supply chain operations with customized software solutions.
      Top Benefits of the Solution:
      • Streamlined and accelerated ordering, tracking, and delivery processes
      • Cut licensing and subscription costs by eliminating complex third-party software integrations
      • 30% improvement in Turn Around Time (TAT)
      • 40% time-saving attained through automated tasks and real-time reporting
      Read Our Customer Stories Now!

      Transitioning into Cloud-Based SaaS: The Future of Logistics

      Cloud computing is gaining momentum unveiling a whole new way of processing data. Tech innovations have influenced the supply chain and logistics operations. Increased supply chain and logistics solutions adoption will shift from the on-premise model to the SaaS model.
      Predictions estimate that a subscription-based SaaS model will dominate supply chain management in the future. Adopting a cloud-based supply chain solution offers benefits in the form of flexibility, robustness, and affordability. Free and open-source software adoption has made the cloud the primary choice for logistics providers and organizations worldwide.
      Cloud-based SaaS supply chain solutions offer numerous benefits. It gives a comprehensive outlook on logistics operations by making processes more transparent and collaborative. Implementing a cloud system reduces upfront and operating costs. It also offers the ability to scale up with the business needs and enhances supply chain efficiency.

      Bottom Line

      Opting for a logistics solution is one step to simplifying the entire cycle of logistical and supply chain operations. Effective management of each process, from procurement to delivery, requires a custom logistics management solution that can accommodate each provider’s demands. For instance, an organization lacking an in-house logistics department needs a software management tool to wrap around its existing methodology and improve it.
      Businesses can deploy logistics management software tailored to their requirements by partnering with a vendor specializing in software development. Pioneers in custom software development like Fingent can assist companies from wholesalers to distributors to e-commerce with the advantage of custom logistic solutions. Get in touch with us to spearhead your operations swiftly and efficiently.

      Stay up to date on what's new

        About the Author

        ...
        Vinod Saratchandran

        Vinod has conceptualized and delivered niche mobility products that cater to various domains including logistics, media & non-profits. He leads, mentors & coaches a team of Project Coordinators & Analysts at Fingent.

        Featured Blogs

        SAP S/4HANA Cloud

        B2B

        What Is to Know About The New SAP S/4HANA Cloud 2111 Release

        Education Healthcare

        Types of Application Software: A Detailed Guide for 2024

        B2B

        Augmented Reality In Business

        Enterprise Software Solutions: Features, Benefits, Tips

        Healthcare

        Augmented Reality in Healthcare: The Industry Future!

        Augmented Reality in Retail: Reimagining the Future of Shopping
        Custom Accounting Software

        Financial Services

        Custom Accounting Software: Development Cost & Benefits

        Utilities Travel

        Top 10 Tech Stacks That Reign Software Development in 2024

        Talk To Our Experts

          Warehousing Management System: Simplify Operations & Scale Your Business

          Warehouse Management System:
          Business Applications & Case Studies

          Custom Warehouse Management System To Optimize Your Supply Chain Operations
          Let’s Discuss Your Project

          Table of Contents

          A warehouse management system is a must-have for any business that wants to expand their e-commerce footprint and address their omni-channel fulfillment requisites. For several years, warehouse management systems have been in the spotlight, enjoying a higher adoption rate across multiple industries.
          billion
          $ 0

          Allied Market Research estimates that by 2030, the market value of global warehouse management systems is estimated to reach $10.6 billion, with a CAGR of 16.3% during 2021-2030.

          A custom warehouse management software reduces your delivery lead times, eliminates errors during order processing and strengthens the efficiency and productivity of suppliers, subsequently improving your customer relationships. Delivering orders precisely requires overcoming the complexities of multi-channel listing and courier management. Whether you’re a 3PL, an ecommerce retailer or a warehouse owner, you require an automated, custom warehouse management system to run the show without any interruption.
          Let’s take a closer look at the features and benefits of custom warehouse management software in this blog.

          What is a Warehouse Management System?

          A warehouse management system is a software solution that allows organizations to manage the entire supply chain fulfillment operations of a warehouse, right from the time goods or materials enter a distribution or fulfillment center until they move out to the store shelf.
          Warehouse management systems offer real-time visibility into your company’s entire inventory, both within warehouses or in transit. Besides monitoring the inventory flow, a warehouse management software offers solutions for picking, packing, processing orders and deliveries, utilizing resources, optimizing labor and storage layout, creating pick lists, analytics, and more. And it organizes all of these activities from a single interface.
          A good WMS system enables e-commerce companies to manage rising order volumes and faster shipping expectations, despite the shrinking pool of warehouse labor. Modern warehouse management systems integrate with several mission-critical tools such as RFID labeling, barcode scanning, augmented reality (AR) wearables, advanced robotics, enterprise resource planning (ERP) systems, transportation management systems (TMS), logistics applications, and more.

          What are the Key Features of a Warehouse Management System?

          Modern, cloud-based warehouse management systems help you manage operations of any scale, from a single to multiple warehouses located anywhere in the world. Here are the core features of a WMS that will improve your warehouse operations.
          A custom warehouse management software leverages automatic identification and data capture (AIDC) technology (eg: barcodes, RFID tags) to provide real-time visibility into your organization’s inventory, no matter where your warehouse is located. The WMS automates and streamlines your inventory management process, giving data-driven insights into what items should you order and when, reports on the performance of your vendors and products, the latest rates you have been charged, and more. These insights allow you to adjust the inventory levels, ensure you have the right volume of stock enough to satisfy your customers, and improve your order rates. You can also forecast the customer demand patterns using the advanced analytics provided by the WMS software.
          Simply put, a good WMS software helps you allocate inventory based on custom workflows and picking logic, so your inventory moves faster, both into and out of your warehouse.
          A WMS software allows you to receive, process, and put away items efficiently according to the warehouse flow and business rules. Integration of the WMS system with RFID, billing and inventory software, and other tools allows it to automatically receive, validate, and reconcile items against online purchase orders. In addition, the warehouse management software helps in the following ways:
          • Scans the barcode or RFID tags affixed to each item or material to enable easier storage and retrieval
          • Flags items that require inspection by QA experts
          • Automates the generation of identification labels for goods, pallets, etc.,
          • Suggests storage recommendations based on the size, expiry date, demand forecasts, and fragility of each product
          • Facilitates cross-docking by alerting warehouse workers when goods have to be transported from the receiving zone directly to a shipping zone
          • Resolves issues through status reporting of incoming receipts to warehousing and merchandising staff
          A report from the University of Chicago reveals that order picking accounts for 55% of the total warehousing cost. A smart WMS system helps you lower this cost by leveraging analytics to recommend the most efficient way to store, retrieve, and pack products. Today, competent warehouse management systems use technologies like pick-to-voice or light, warehouse robotics, machine learning algorithms, and radio frequency with or without barcode scanning to optimize the picking paths. Techniques such as single order picking, discrete picking, batch picking, zone picking, wave picking, and cross-docking help streamline order fulfillment.
          Modern warehouse management systems are capable of automatically generating packing lists, shipment invoices, bills of lading, and other crucial notifications, which will give you real-time visibility into the status of every consignment. For instance, you can oversee if the packages arrive on time and are delivered to the right destination. Automatic shipment notifications expedite your order fulfillment process. The WMS software also helps you:
          • Schedule the shipments judiciously by optimizing the delivery routes to reduce the travel time
          • Calculate the shipping time and rates by integrating with the shipping carriers’ applications
          • Merge multiple orders addressed to the same consignee into a single shipment
          • Track the entire shipment history
          • Ensure faster and timely delivery of shipments off the dock and in transit to the right destination
          A custom warehouse management software featuring configurable dashboards that can be tailored to display important metrics adds value to your warehouse operations. Tailor the dashboard to view your inventory accuracy, on-time shipping data, order fill rate, cycle time to process orders, labor and storage utilization, inventory return reports, distribution costs, and more. Automated report generation eliminates the errors caused by manual data entry. Use data visualization techniques to share the warehouse operational reports and metrics with your key stakeholders. Viewing mission-critical, real-time insights on a single interface helps you make the necessary adjustments to optimize the warehouse operations in future.
          An intelligent warehouse management system helps schedule your workforce based on the labor requirements for order fulfillment during a specific time. Based on a procurement and shipping schedule, the WMS software can dynamically assign tasks to your warehouse workers and support task interleaving depending on the priority and proximity, which will minimize your workforce’s idle time as well as travel time. The warehouse management software also helps monitor your labor performance against pre-defined KPIs and throws light into your labor costs, response times, productivity gaps, and trends that matter to you.
          In warehousing, reverse logistics refers to the process of controlling the movement of in-process inventory or finished goods from the point of consumption to the point of origin for recovering value or ensuring proper disposal. A good WMS software automates the routing of returned inventory to a suitable warehouse by tracking the return order and flagging the returned inventory for further processing such as a quality assurance check.

          Case Study: Optimizing last-mile delivery: Software suite development for an e-commerce locker company helps gain 50% reduction in internal workload.

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          Three Key Drivers of Warehouse Automation

          1. E-commerce and Rapid Order Fulfillment

          • 66% of customers choose e-vendors based on the delivery options
          • 63% select an e-vendor based on delivery speed
          • 77% are willing to pay for faster delivery

          2. Cost of Operations

          • 66% of a warehouse’s functioning budget is consumed by labor costs
          • 27% of fulfillment issues are caused by staff turnover

          3. Growth of Technology

          • AI and Deep Learning
          • Blockchain
          • Industrial IoT
          • Connected warehouse systems

          Why Adopt Custom Warehouse Management Software?

          Like every other industry, there is no one size fits all solution in warehousing, as the requirements vary from business to business. Custom warehouse management systems improve the internal operations and services of your logistics, retail, or warehousing business by offering several features which aren’t provided by off-the-shelf software.

          Off-the-Shelf vs. Custom Warehouse Management System

          Off-the-Shelf Warehouse Systems

          • Designed commonly for different types of users
          • Requires additional components to function
          • Needs high-end customization
          • Slow to change with industry needs
          • Subscription/ licensing costs are high
          • Jam-packed with unwanted features

          Custom Warehouse Management System

          • Tailored to address your specific needs
          • Highly adaptable and sustainable
          • Scalable to your future requirements
          • Integrates with your existing systems and third-party software
          • Long time value- Easy to maintain and customize
          • An investment for a profitable future

          Benefits of Custom Warehouse Management Software

          Here’s what makes custom warehouse management software the right choice for your business:

          On-demand Functionality

          Custom warehouse management software development allows you to build the required architecture and functionality designed to fit all your warehouse needs. When you choose to build a WMS, you have the option to modify the features list anytime during the development process. Thus, your WMS will be equipped to meet the ever-changing business needs.

          Improved Scalability

          When you build a warehouse management software, you can implement the required level of scalability based on the number of users and warehouses, number and frequency of orders handled, and other aspects during the process of development. Ideally, custom software development allows you to invest once and scale your business on the go. A scalable custom WMS allows you to add as many users as you need free of cost.

          Integration Opportunities

          Unlike many off-the-shelf warehouse software that provide a fixed list of out-of-the-box integrations, a custom warehouse management system supports on-demand integrations. If you are running a large e-commerce store with several multi-component business operations, the only way to automate your workflow is to integrate your WMS with the multiple platforms you use. A custom WMS software can be integrated with hundreds of products through APIs and plugins.

          Custom Modules for Each Functionality

          Custom WMS development enables you to integrate discrete modules tailored to meet your inventory, shipping, logistics, scheduling, cross-docking, and other supply chain fulfillment needs. You can also implement the software on any platform, say desktop, laptop, smartphones, wearable devices, and more. Cross-platform WMS implementation helps you keep track of all the inventory directly from any device.

          Cloud-based Warehouse Management Solutions

          Custom-built warehouse management software hosted on the cloud offers you higher security advantages. Your application will be hosted on a virtual private server which keeps your data safe. This is highly beneficial for businesses handling high-value inventory.

          If you want to avoid scalability and integration issues and require a future-proof platform architecture, developing a custom warehouse software is the best choice.

          Custom Warehouse Management System: A Case Study

          We’ve simplified what was once considered complex order processing, with custom-built warehouse management and order processing software that lets customers place orders quickly and allows warehouses to track every order with improved efficiency and sophistication.
          Texas-based Cheetah Transportation Systems leveraged Fingent’s custom software development services to implement a personalized transportation management system. The new system allows Cheetah’s customers to view their order status in real-time and access up-to-date shipping data. With a customized software solution, Cheetah re-imagined their logistics and supply chain operations:
          • Streamlined and accelerated ordering, tracking, and delivery processes
          • Cut licensing and subscription costs by eliminating complex third-party software integrations
          • 30% improvement in Turn Around Time (TAT)
          • 40% time-saving attained through automated tasks and real-time reporting
          download case studies

          Develop Your Warehouse Management System with Fingent

          The primary goal of a warehouse management software is to ensure that the right product is delivered to the right person at the right time. When you’re in complete control of your warehouse operations, you will attain better visibility, productivity, and cost control.
          Our core experience in developing B2B e-commerce applications, customized product ordering systems, tailored self-service payment portals, and an array of bespoke software solutions makes us a trusted software development partner to hundreds of organizations worldwide, including Fortune 500 companies. We help you develop custom warehouse management software for businesses that deal in logistics, shipping, transportation, eCommerce, third-party logistics (3PL), and more. If you want to discover our services further, please chat with our consultant.
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            About the Author

            ...
            Sreejith

            I have been programming since 2000, and professionally since 2007. I currently lead the Open Source team at Fingent as we work on different technology stacks, ranging from the "boring"(read tried and trusted) to the bleeding edge. I like building, tinkering with and breaking things, not necessarily in that order.

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              How SAP Helps Realize Voice-enabled Warehouse Operations

              SAP helps increase warehouse management productivity with voice picking!

              Voice technology has been there for a while and is here to stay. Its increasing adoption among warehouse distribution centers has led to increased accuracy, improved productivity, and training time reduction. Supply chain executives report attaining a 50% decrease in picking errors and a typical ROI in less than one year with voice integration. 

              In retail warehouses, complex facilities such as inventory control are vital, with several picks to be performed every hour. The warehouse employees should be an efficient and accurate while ‘picking’ as wrong picking can lead to incorrect deliveries and affect customer satisfaction.

              To improve staff accuracy and speed of pick, warehouses can consider “Voice Picking” technology. Voice picking is an extension of the Warehouse Management System (enhanced by additional software and hardware) that allows transferring instructions to the warehouse operators using earphones and microphones. Voice Picking uses a wearable computer that includes a headset and microphone so that the order pickers can be instructed on what items to pick from where and later confirm their actions verbally into the Warehouse Management System (WMS).

              Read more: How Robotics in Logistics Helps Improve Supply Chain Efficiency 

              Robotics in Logistics

              Benefits of Voice-picking

              A voice-picking system creates a hands-free, heads-up workflow. Unlike the traditional warehouse order picking, where you need to stop to read, scan, or punch keys, the voice-picking system allows users to listen and speak efficiently. Some of its benefits include:

              • Productivity improvement
              • Reduction in errors by 25% or more
              • Decrease in accidents as operators rely on eyes and hands-free technology and hence are more aware of the surroundings
              • Cuts training time

              How is voice-enabled warehouse operation helping during the COVID-19 pandemic?

              In the last few months, warehousing and logistics have been hit hard. While there was enormous pressure on the warehouse to execute deliveries quickly due to increasing customer expectations, COVID-19 has caused further disruption. 

              Logistic companies have had to evaluate options and make changes across transportation modes, considering delays, interruptions, and price changes.

              According to a survey from August to September 2020, about 32,200 jobs were added to the warehouse and storage sector. Thanks to voice and device technology! Voice integration helped address the labor shortage and equipped new workers. Here are a few benefits of voice-enabled warehouse management. 

              1. Efficient onboarding

              New workers can pick up their barcode scanner or mobile device and begin their work with minimal onboarding time. Latest device upgrades offer improved designs and user-friendly interfaces. Whether a Windows 10, iOS, or Android device, workers can choose the device they like. This flexibility helps simplify the training and onboarding process of new workers, optimizing workforce management, and making it a more efficient experience.

              New workers can get started quickly without the need for lengthy training processes. With voice-enabled applications, you can reduce the training time from several hours to just a few minutes.

              2. Increased productivity

              Voice capabilities are helping workers to keep pace with the high volume of orders. It helps them cope with the increased pressure to meet soaring demands, reduce training time, and use the hand-held devices of their comfort.  

              3. Higher accuracy

              With hands-free wearables and voice picking, workers don’t need to stop frequently to check their devices. It will reduce errors and allow pickers to complete more orders within the same timeframe with improved speed and accuracy.

              4. Improved safety

              The coronavirus has made “contactless” mandatory. Voice picking can eliminate many physical touchpoints that can lead to virus exposure. Minimizing surface contact is one of the best ways to protect warehouse workers.

              Read more: Contactless services: The new retail norm

              Retailer

              How does SAP help voice-picking?

              SAP’s open architecture supports several voice integration methods that help users achieve immense productivity and accuracy. If your business is running on SAP’s Extended Warehouse Management (EWM) solution or Warehouse Management (WM), voice can be easily integrated. It results in the seamless integration of ERP with your warehouse management solutions and voice. Ultimately, the accuracy, productivity, comfort, and safety of all your warehouse processes will improve. It helps distribution centers deliver on time, achieve deadlines, and scale.

              Read more: SAP Preconfigured Solutions Boost Efficiency Among Industries 

              Today, voice integrated into SAP has become an essential tool for many businesses. SAP’s voice picking provides superior ergonomics, eliminates distractions, and allows users to focus on the task. The voice technology is specifically designed to provide voice recognition in noisy environments. The noise cancellation ability helps lower warehouse background noise, such as truck horns, pallet drops, and conveyor system mechanism.

              Additionally, the technology helps overcome language barriers as most systems come in more than 40 languages allowing users to interact with SAP most naturally and effectively.

              Voice with SAP can quickly scale with your business both when your business grows and when you need to accomplish seasonal peaks. With SAP’s explicit instructions, you can add new employees’ onboarding time and capacity without any complex changes to the given infrastructure.

              Download Our Case Study: How Fingent automated integration between SAP SuccessFactors and SAP S/4HANA

              To conclude

              As the economy battles to overcome uncertainty, using safe, cost-effective solutions, embracing advanced technologies like voice-enabled applications are imperative to sustain. Additionally, with COVID-19 showing no signs of ending soon and the world shifting to contactless shopping, embracing voice-enabled applications makes sense from an economic and physical safety standpoint.

              No other technology has impacted the logistics and shipping industry like voice in the recent past. Extend your logistics and fulfillment processes by making voice technology a vital ingredient of your company’s IT strategy. Contact us now to get started. 

               

               

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                About the Author

                ...
                Vinod Saratchandran

                Vinod has conceptualized and delivered niche mobility products that cater to various domains including logistics, media & non-profits. He leads, mentors & coaches a team of Project Coordinators & Analysts at Fingent.

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