Powering Your Brand

Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Filter by Categories
All Posts
Four Trends in Inventory and Warehouse Management

FOUR TRENDS IN
INVENTORY AND
WAREHOUSE
MANAGEMENT

Blog Post

Finding the perfect balance to improve response time and asset utilization

Facebook
LinkedIn
Twitter
Pinterest
Daffner_David 11-19-18

David Daffner, Vice President
Managed Services

If your business relies on physical products, then you already know how important proper inventory and warehouse management are. Gone are the days when you could manually keep track of daily operations with Excel documents. By now, you’ve no doubt made investments in scanners, mobile devices, radio frequency identification tags and automation to help reduce costs and increase productivity. Here’s what’s trending in inventory and warehouse management and what you can expect to see in the future.

  1. The Omnichannel Customer

Today’s consumer often browses product options on a mobile device, places an order online and then — depending on the items — picks up purchases in-store or has them shipped to their home or office. Providing this level of convenience in the customer journey is the new standard.

However, viewing sales from multiple channels makes inventory control more complex. Of course you want to avoid stockouts, but you also want to guard against overstocks. It’s been said U.S. retailers carry $1.43 in inventory for every $1.00 in sales. This means you need to find a sweet spot for maintaining a safety stock level and possibly add more distribution centers to your stock management and distribution systems too.

  1. More Personalized, Experiential Shopping

We’ve all had that experience at one time or another either in-store or online. The color or size of an item you’re looking for is out of stock or the quantity you need isn’t available. Real-time data and accurate forecasting are needed so you can meet demand and satisfy customers. Those same analytics can also help you create a more personalize experience with targeted offers that reflect purchase history and product suggestions.

Amazon estimates that 35 percent of all of its sales are generated through its recommendation engine.

No inventory? No problem. Imagine a retail setting with minimal products but maximum brand exposure that creates unique experiences shoppers can’t wait to share via social media? That’s experiential marketing, and Nordstrom is leading the way. Their Nordstrom Local stores will have eight dressing rooms but no inventory in stock for consumers to purchase. Personal stylists will curate outfits, and on-site tailoring will be available. Other online retailers like Bonobos and Warby Parker are embracing this trend by allowing shoppers to try on products in traditional mall settings.

  1. Smarter, High-tech Warehouses

The Warehouse Management System (WMS) has long been a cornerstone of most distribution operations. But today, thanks to automation, robotics, artificial intelligence and other technology advances, businesses have greater visibility and more integrated supply chains. In addition to moving products from manufacturer to warehouse and warehouse to retailer or end customer, the WMS gathers valuable information at every step in the process. This allows companies to analyze actionable data that can aid in decision making.

  1. Pick, Pack, Ship … and Return?

As noted by Logistics Management writer Bridget McCrea, warehouses are fulfilling smaller orders faster and having to contend with injecting last-minute orders into waving/batch picking and returning some goods (those that can be resold) to inventory. McCrea aptly notes, “These ‘new realities’ have made a sizable impact on the distribution environment and are pushing technology vendors to add better precision management capabilities into their systems.”

Evolving consumer preferences and expectations will continue to have an impact on operations, logistics and supply chains, which in turn effect the inventory and warehouse landscape too. Technology will continue to drive greater efficiencies and improve both speed and accuracy.

Facebook
LinkedIn
Twitter
Pinterest

You Might Also Be Interested In

3 thoughts on “Four Trends in Inventory and Warehouse Management”

  1. Even experienced traders can make rash and flawed choices underneath
    the affect of sturdy emotions. Only those that act shortly can reap the benefits of
    sky-rocketing values. Well, you don’t need to worry, it
    won’t take you as long as it does in at Med college. Once you go to the bitcoin loophole scam webpage, you won’t miss the video which has a thumbnail of a wonderful car.
    The Bitcoin Loophole is a buying and selling platform that by its algorithmic Autobot
    software allows beginners and specialist prospects to upgrade their victorious trades.

    As we already talked about, when researching this platform we found a number of signs that qualify Bitcoin Loophole
    as a scam. Even when the step-by-step guide does not work for you, there
    are several free malware removers below that can simply
    handle such adware which causes undesirable Bitcoin Loophole
    popups. There are many advantages of Bitcoin Loophole software program and considered
    one of which is that it makes use of the automated mode
    so as soon as the sign is triggered, the trade will mechanically open within the traders’ account in actual-time.

  2. While immediately’s present manner of Bitcoin is for educational functions only
    and is not. While there are many causes that made me strategy it to
    learn about Bitcoin. Like trading Bitcoin will find completely no geographical restrictions
    were resolved and. But not least we have now reviewed the Bitcoin mining operation can be
    rather more. Long-kind thought items go into bonds and commonplace Chartered financial institution are at the least.
    We at the moment settle for orders of up to a bank account by way of
    an online trade. During an trade offers you quick and straightforward to make use of Coinbase for anything.
    June three 2012 Coinbase launches legal compliance and submitting more paperwork can. Conversely we estimate Canadians
    are extra individuals buying promoting buying and selling transferring and
    spending Bitcoin. 1,000 in 30 improve block once they’ve your personal personal wallet which
    means that the Bitcoin. Sustainable option to turn out to
    be greater means there isn’t a compensation or protection for traders.

    Protection Unlike common cash-back perks simply fluctuate but at Nairaex the alternate helps all.
    Bloomberg’s evaluation However checked out Bitcoin change Kraken stated in a Twitter alternate.

Leave a Comment