As more and more people turn to omnichannel shopping, something as simple as maintaining inventory has become more difficult for companies. The silver lining is that along with consumer purchasing preferences, the technology required to conduct an efficient business has also evolved leading to digitization and automation of processes including inventory management.
Manual vs Automated Inventory Management
A labour-intensive process, manual inventory management heavily relied on people’s ability to consistently perform at their best. This was also a time-consuming job that rarely offered a comprehensive picture of a company’s inventory in real-time. It involved counting, aggregating, and calculating data at every step. Even the smallest errors could have a grave impact in the long run.
An automated system makes these processes simpler, reducing the amount of human intervention and involvement by providing each SKU with a serial number or a barcode. It presents various insights and access to warehouse/operation-wide data easily. This means all information becomes readily available, movement of the product can be followed, and there are fewer discrepancies.
Considering an increasing number of companies are opting for an omnichannel approach, the lack of a cohesive selling and stocking strategy can translate to significant losses. If you are considering moving your business operations to an automated inventory management system, here are some benefits –
Automation in Inventory Management at Stores
An automated system such as Iris X can efficiently manage the following functions increasing sales, productivity, and overall performance of a store.
Automation in Inventory Management at Warehouses
Automation in inventory management at the warehouses can be beneficial in preventing human errors. An automated system can also increase efficiency and reduce losses due to such errors and oversight.
Increff’s WMS solution automates processes in the warehouse by using inventory serialization which can properly track SKUs and facilitate better space utilization. This enables faster picking and packing at warehouses, reducing the turnaround time for completing orders. Each time a product barcode is scanned, all of its details including a picture are displayed to ensure zero errors while packing a product. This WMS has a simple and friendly user interface to make sure that all warehouse workers can be quickly and easily trained to use this software.
The overall benefits of using automation in inventory management increase as your business grows and expands. The transformative powers of automation are many and the need to integrate automation in your business is more evident than ever as the world itself goes through a transformative time. Based on your business needs and goals, choose an automation solution that works the best for you.
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