July 22, 2019
Supply Chain Management covers a wide range of activities dealing with controlling and monitoring the flow of goods right from sourcing raw materials until the time the goods reach the final consumer. This practice is essential for optimal functioning of an organisation and helps in deriving better results. There are several elements involved in Supply Chain Management, with one of them being Warehouse Management.
The warehouse management system (WMS) refers to an application, which is used to regulate warehouse operations. With the help of this application, it is possible to keep a check on the goods, from the time they arrive at the warehouse, to when they are stored until they reach the users. While a warehouse is used primarily for storage purposes, the warehouse management system, plays a significant role in the entire process of supply chain management.
The WMS is responsible for several core functions, which help organisations streamline their supply chain management. Here we talk about a few of those roles.
Helps Keep track of Stock
The Warehouse Management Systems let you keep track of the amount of stock available in the warehouse. This helps in keeping the re-stocking procedures on-road and avoid over-stocking and shortages. In other words, with the help of WMS, it is possible to order the right amounts of products at the right time.
With the help of the WMS, it is possible to maintain accurate data, which is transparent and can be made accessible through internet-enabled devices. This helps all stakeholders of the supply chain organise their productions in a streamlined manner and stay updated. This also helps in offering better services to customers.
Helps Keep Stock Safe
WMS helps maintain the ideal circumstances for each and every item of the inventory and helps in keeping the stock safe. This is critical in cases of perishable products like cosmetic products, food items and medicines, preventing items from getting wasted and helps in increasing the net profit of the organisation.
Ensures Better Planning
An optimal WMS helps maintain detailed records of past orders and deliveries. This can help understand customer demands and identify future requirements of products, serving as a great way to prevent wastage and helps in maintaining an appropriate inventory.
All these factors prove that Warehouse Management System is an essential part of Supply Chain Management. With ILAM’s specialised course – MBA in Logistics & Supply Chain Management, you can learn about this and various other technologies related to SCM. This course helps students learn by experiencing the latest advancements in the industry and lets you understand the practical functioning Supply Chain Management. With the help of this course, students get equipped with the skills required to enter this highly rewarding field.