Properly managing your inventory is an important part of your business operations as it allows you to fulfill customer orders in a timely and efficient manner.
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Over the past two years, retail spending has increased over 14 percent. It is partly due to consumers wanting to return to their pre-Covid lives, returning to stores to shop, and the influx of money from the government giving them extra money to spend. So, with the continual rise of Ecommerce and shopping trends alongside supply chain delays, will there be enough inventory for the holiday season? Here are some tips to help you prepare for the holiday season.
Warehouse Management System (WMS) software is a great addition to any type of distribution business because it provides automated solutions to warehouse operations and processes. It is important to have it implemented correctly and successfully to fully utilize the tool for your business. A WMS covers processes that involve receiving, putaway, inventory management, location management, order management, picking, packing, shipping, and integration to an ERP or other external systems.
Every warehouse manager is under pressure to run their facility at maximum capacity while keeping overhead low. Because of the quick changes brought about by technological advancements in this sector, keeping up with the latest trends can be challenging. If you don't keep up with warehouse management best practices, your company risks falling behind the competition.
When building a warehouse, it is important to not only consider your current inventory but focus on growth…what you want to see in the future and where your product focus or customer type (3PL) will be. If you are starting from scratch, do your research or hire an expert to help. If you already have other locations, think about what is working well and what you would change as far as the building size, layout, location, etc. Here are a few things to keep in mind before you begin the building process.
Warehouse management systems (WMS) can quickly process data and organize warehouse movements. They can also generate reports and handle enormous amounts of transactions, which are common in e-commerce.
Cadre Technologies will be holding an in-person user conference, along with FOG Software sister companies this fall – September 19-22, 2021 in Orlando, Florida. The Converge User Conference is an opportunity to ensure that customers are getting the most value out of their company's investment and are able to accomplish their goals more efficiently. This event allows them to learn more about the products, updates to come in the future and network with other customers and partners. Also, to learn best practices from the Cadre team and fellow customers.
“Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think AI (Artificial Intelligence) will transform in the next several years.” ~Andrew Ng
“The pandemic was a stress test that uncovered many weaknesses and faults in retailers’ operations,” according to Orlee Tal, CEO of Stor.ai, “We are seeing a growing number of retailers reassessing their current systems and working to deploy the next generation of e-commerce capabilities that blend the digital and physical shopping experiences. It’s now about customer-first commerce.”