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Benefits of a Transportation Management System

Companies dependent on retail chains and ecommerce solutions usually deploy TMS or Transportation Management Systems for simplifying certain fulfillment based tasks. A functional TMS plan is highly beneficial to businesses as it allows them to transport products in a very cost-effective manner. In addition to that, Transportation Management System also involves intermodal freight movements, comprising of inbound, outbound, domestic, international and commercial shipments. The best thing about TMS is that it can seamlessly function with the concerned company or even with an outsourced fulfillment or logistics partner.

Why Companies are Emphasizing on TMS Solutions?

TMS or Transportation Management System is the only supply chain tool that reduces additional freight costs. Having this strategy on-board helps organizations immensely as they can pair up logistics with functional analytics and optimization techniques. TMS solutions work way better than some of the more conventional supply chain management techniques and in the subsequent sections, we shall enlist some benefits which set them apart from the usual ones.

Better Customer Satisfactions Levels

Improved Warehouse Efficiency

While some might argue that a transportation management system has nothing to do with warehouse management, there is a direct correlation between the two. With a functional TMS solution on-board, companies can quickly dispatch the shipments; thereby saving a lot of time for performing warehouse duties. Moreover, with the TMS module integrated alongside the ERP, data entry issues and associated errors can be readily avoided. In a nutshell, TMS and WMS work together for improving the efficiency of the concerned supply chain framework. The inadequacies are duly minimized followed by higher levels of cost savings.

 

Better Delivery Options

Transportation Management System helps optimize the shipping techniques of the companies; thereby offering a host of exciting fulfillment options to the customers. Be it the inbound shipping programs or the pool-point shipping ideas, having a robust TMS module can open a door of opportunities for the customers. In addition to that, this approach to shipping and fulfillment also covers multiple locations and serves as a precursor to the Omni-channel customer experience. Lastly, one person with remote access can easily manage the entire delivery schema for multiple networks.

Reduction in Inventory

Organizations dealing with surplus inventory issues are best served by a TMS module on-board.  As companies can now ship products at a faster rate, it becomes easier for them to plan out the stocks in a better manner. This eventually minimizes the issues related to surplus stocks and can help businesses improve productivity.

Improved Cash Flow

Needless to say, a functional transport management system can also help an organization improve the overall cash flow. With freight accounting made easy, improved cash flow is something businesses can expect going into the future. Moreover, a TMS module offers a leeway to the shippers as they can now save a lot of money by tweaking the structure of inbound logistics. For those who are interested in facts and figures, companies can easily save something in the ballpark of 2 to 5 percent by cutting out duplicate payments, inaccurate charges and other logistical pitfalls.

Advanced Analytics

While we have addressed this aspect in some of the previous sections, it’s only appropriate to discuss more about the analytical side of transport management system. The associated analytics identify low-cost shipping options for businesses; thereby helping companies save a lot of money. Moreover, with shippers having fewer issues to worry about, the entire management team can concentrate more on warehouse and inventory control.

Inference

Over the past few years, it has become easier to implementing TMS solutions to the entire process of warehousing, fulfillment and inventory control. The best part about using this business strategy is the backhaul support and consolidation opportunities where companies can save a lot of additional costs without having to compromise on customer satisfaction levels. What makes most sense is to link a robust TMS module with a highly efficient warehouse management system. While this promotes better visibility of the entire supply chain, it can actually improve the process of inventory forecasting and minimize the data-specific errors.

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Decoding the Basics of Retail Warehousing and Fulfillment

The retail industry is getting hugely benefited by ecommerce and major ripples are being felt by the concerned supply chain management systems. With the entire retail ecosystem getting updated, it’s only fitting that businesses start focusing more on warehousing and fulfillment solutions for skyrocketing productivity. Moreover, the retail ecosystem is also witnessing a paradigm shift with companies increasingly focusing on an Omni-Channel customer experience. In addition to that, increased focus on decentralized fulfillment and distributed warehousing solutions are some of the potent strategies which the retail industry is integrating within its framework.

Addressing the Concept of Retail Warehousing

Customers within the retail industry prefer availing their products from random channels without having to wait for the stock to arrive at specific locations. If the logistical aspect is concerned, the retail industry primarily requires an agile and dynamic warehousing plan to thrive. Inefficient logistics can cause some serious damage to productivity and reputation of a retail chain and it’s important that distributed warehousing becomes a norm in this sector.

However, it is important to get well versed with this concept before looking in to the technical details. Distributed warehousing solutions help customers by fulfilling their requirements without making them dependent on the store inventory. Unlike the traditional warehousing techniques where the stock needs to be picked up from the warehouses in case there is a demand at the stores, distributed warehousing allows fulfillment from almost anywhere.

While distributed warehousing is a highly innovative concept, its implementation within the retail sector requires higher levels of expertise. Majority of retail stores aren’t capable of handling critical ecommerce orders and therefore using them as portable warehouses, isn’t the best possible solution. In addition to that, stores managing fulfillment via distributed warehousing must also have the technological expertise to make things happen. Deploying a fully functional distributed warehousing module takes time and requires the concerned retailer to opt for BOT solutions.

Advantages of Distributed Warehousing in Retail

Now when we have addressed the premise and underlining issues related to Distributed Warehousing, it’s important to enlist the benefits of the same, especially for the retail sector. An efficient strategy minimizes the overall freight costs and renders higher levels of controllability to the shipments. The ecommerce landscape associated with retail can be improved with functional warehousing strategies on-board. Moreover, majority of sales occur online and Distributed Warehousing takes performance and productivity to a whole new level. One such example would be the aspect of same day shipping, adopted by some leading online retail chains. This innovation is possible only with functional warehousing techniques added into the scheme of things.

Fulfillment Solutions for the Retail Industry

While retail stores with sufficient levels of technological expertise can be used for addressing the warehousing requirements, the retail industry needs to be way more selective regarding the fulfillment solutions. Having a multi-channel partner for handling the fulfillment requirements is important, especially for the retail sector. Some of the important aspects which need to be taken care of include:

1.       Excellent Inventory Management

The fulfillment partners must be proactive and look to address the aspects of inventory management. While warehousing is a completely separate section, modern day fulfillment service providers are trained to handle certain aspects of the same. Inventory management, however, looks to maintain order accuracy by offering real-time stock monitoring.

2.       Seasonal Demands Covered

An exceptional fulfillment partner stays on top of the demands and helps improve the overall structure of a retail management plan. This includes accommodating periods of massive order volumes.

3.       Reporting Capabilities

An efficient fulfillment strategy is also capable of sending out real-time reports regarding the granular, retail-specific insights. This aspect is highly resourceful when it comes to adapting and even improving the varied warehouse processes.

Benefits of Omni-Channel Fulfillment Strategies

Fulfillment strategies pertaining to retail can improve the revenue model of an organization. In addition to that, warehouse productivity also gets a boost as the shipped inventory reaches the concerned customer base, without fail. Customer satisfaction levels increase and the brand perception also gets a much required boost.

Inference

The retail industry is evolving constantly and businesses can be seen emphasizing on the aspects of warehousing and fulfillment for improving their chance of growth, better sales and improved productivity.

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Best Ideas for Formulating an Excellent Logistics Optimization Process

When it comes to handling logistics, management is certainly the key. Moreover, an efficient supply chain management framework thrives on perfect coordination and automation— arguably the most prior aspects of logistics management. Apart from that, businesses are increasingly concentrating on network optimization alongside logistics management and following certain tried and tested strategies for achieving desired results. Last but not the least, most of these strategies are aimed towards streamlining the entire process of logistics planning and improvising the associated processes.

Proper Planning is Important

Businesses must understand that initial planning encapsulates every other factor associated with logistics management. Be it looking at the product procurement, product deliveries or storage facilities; planning covers every industrial parameter and helps organizations devise concerned flowcharts. Moreover, the entire purpose of planning is to improve productivity and therefore the former can be considered as an essential logistical tool. The entire hierarchy of a pre-planned approach involves the products, organizational issues, and even transportation worries. In addition to all that, planning also encompasses the contingencies in case of logistics failure.

Automation is the Key

When it comes to enlisting the nooks and crannies of a logistics management plan, automation comes across as an indispensable tool. While automation improves the efficiency of the entire organization, it also plays a vital role in the optimizing the business processes. Deploying an automated strategy helps enterprises keep a track of dispatched goods, warehouse storage options, and even delivery options. This, in turn, saves a lot of time and money while improving the accuracy associated with logistics management.

Managing the Warehouse

Logistics management feels incomplete without discussing about warehouse management. However, the way organizations plan out the latter entirely depends on the type of inventory. While perishable goods require drier warehouses, dairy and similar entities can be stored best in warehouses with excellent refrigeration facilities. Another warehouse-specific strategy would be to increase the overall storage capacity by adding columns, if necessary. Businesses can further automate the inventory storage process by opting for smart warehousing options. Last but not the least, training the warehouse staff is also a prerequisite.

Concentrating on Transportation

An efficient transportation strategy is essential when it comes to drafting a functional logistics management plan. Businesses must look to improve the transportation facilities; thereby decreasing the hassles associated with untimely deliveries. Additionally, an efficient transportation strategy helps determine the best route for product delivery followed by cost-effective and viable packaging options.

Valuing Relationships

Every logistics management plan needs a team to function properly. However, a synergized approach to team building is possible only if companies invest properly in employee training and workshops. Apart from that, logistics management also requires excellent interpersonal skills within the organization followed by higher levels of employee satisfaction. All these factors are taken into consideration if businesses value their relationships with employees and the concerned staff.

Measuring and Improvising Options

Integrating measurement is essential while drafting a logistics management plan. Measuring the extent of network optimization is important when it comes to analyzing the state of improvement. This helps the organization gather valuable feedbacks. Companies must get hold of excellent software and measurement tools for determining the genuineness of the available information. Once the information is leveraged for improvising the existing strategies, it all comes down to planning the subsequent logistics management steps. This involves analyzing service, cost and cycle metrics while keeping the eyes open for genuine feedbacks.

Inference

Trumping over the competitors isn’t easy and it would take an excellent logistics management plan to achieve extraordinary results. Firstly, organizations must adopt latest technological innovations, going into the future. In addition to that, they must aim towards increasing efficiency of their operations thereby ensuring higher levels of customer satisfaction. Moreover, it is the process optimization that helps companies draft efficient logistics management plans in this extremely competitive arena. Adding to all these, it is a well-known fact that majority of organizations are actually struggling when it comes to incorporating the mentioned strategies for the purpose of creating an efficient logistics management plan. However, the enlisted ideas are quite easy to implement and must assist any organization when it comes to the logistical network optimization.

warehouse smart
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Benefits of using Smart Warehousing Technology

Warehouses are integral and essential entrepreneurial commandments that allow enterprises to store the associated inventory in a highly secured environment. With ecommerce slowly becoming a reality, the onus is now on the business to store their products safely before the big dispatch; thereby making sure that customers get exactly what they paid for. Moreover, with technological advancements assisting the logistical arena, warehouses have now evolved into indispensable business tools instead of being considered as simple storage facilities.

The latest industrial buzzword, however, is smart-warehousing which efficiently connects the basics of warehouse management with smarter technologies; thereby revolutionizing the entire concept of inventory management and e-commerce business.

Deciphering Smart Warehousing

The basic layout of a smart warehouse involves the addition of computing prowess, specifically for automating certain processes. Smart warehousing, therefore, can be regarded as a process where the entire storage facility comes equipped with the likes of bar code scanners and automated management techniques. The associated inventory is skillfully stored and managed as smart warehousing brings forth the underlining concepts of IoT and diverse RFID solutions. Moreover, there are certain Smart warehouses that even have location trackers, allowing businesses to trace dispatches, regardless of their positions.

Why Should Businesses go for Smart Warehousing?

While traditional warehouses can save a lot of money, the smart ones are better equipped when it comes to managing the inventory in a more efficient manner. That said, smart warehousing technology is quite expensive as compared to the traditional ideas but their benefits clearly outweigh the existing cons. Smart warehousing perfectly leverages the supply chain technology and even pairs the same with Internet of Things; thereby boosting the efficiency of the entire storage hub.

1.      Enabling Smart Contracts

One of the most essential traits of using a Smart warehouse happens to be the advent of smart contracts. Every detail regarding the inventory gets updated and recorded online; thereby simplifying the overall process of storage and management. Business can therefore manage the financing arrangement of the inventory is a more seamless manner while abiding by the Inventory Financing Agreement. Unlike a conventional warehouse that is incapable of keeping a digitized record of sales, Smart Warehouses can easily keep tabs of the dispatched inventory courtesy the flexibility of smart contracts.

IFA, therefore, is a typical example of smart contract which is validated by Smart Warehousing technology. Every tabulation process is exceedingly transparent with this technology on-board. Lastly, the associated records cannot be deleted with Smart warehousing technologies on-board. Apart from that, businesses can make the best use of location tags and implement blockchain technology on their existing inventory management plan.

2.      Increased Accuracy

Another exemplary benefit of smart warehousing is the increased levels of accuracy on offer. In most cases, smart warehouses come forth with automated technologies which eventually minimize human labor. Inventory owners can deploy automated technologies for minimizing the risk associated with product damages. Moreover, automation minimizes the human errors and amplifies the efficiency of the concerned warehouse. In most cases, ecommerce logistics fail to deliver products on time courtesy the existence of inefficient inventory processing techniques. While manual management techniques are bound to be erroneous and time-consuming, automation can quickly dissolve this issue by speeding up the existing processes like shipping and packing.                                                                    

3.      Better Tracking Options

As mentioned, Smart Warehouses are usually equipped with latest technologies, making them highly resourceful and functional. The likes of integrated sensors, RFID tags and even devices are paired with the inventory essentials for improving the efficiency of systems. The involvement of Internet of Things further improves productivity as businesses can now access information without being restricted to the workstations. Smart Warehousing also improves shipping accuracy and offers unparalleled visibility into supply chains and inventories.

Inference

Warehousing has come a long way since its inception. At present, majority of organizations are embracing smart warehousing as a part of their functioning. This technology is further bolstered by the inclusion of IoT and IoE or Internet of Everything. While certain organizations are still facing execution challenges, it’s all about handling the basics of warehouse control, warehouse management and building automation systems associated with the concerned organizations. Last but not the least, every smart warehouse must perfectly combine smart systems with legacy alternatives; thereby getting hold of multiple connectivity schemes. It needs to be understood that Smart warehousing, in association with IoT can easily minimize the existing costs and speed up the processes leading towards product remittance.