Inventory SoftwareThe sharing economy is gaining traction these days. Based on the concept of sharing products instead of owning them, this form of collaboration has become quite trendy in some sectors. Cars and tools are only two examples of hugely popular shared commodities.

In her 2010 book, “What’s Mine is Yours: The Rise of Collaborative Consumption,” Rachel Botsman, speaks about products with “high-idling capacity.” Just think of cars and bicycles that sit in driveways and garages most of the day. An even more telling example is the power drill that can be found in more than 80 million households in North America. The average power drill is used 13 minutes in its lifetime!

The answer to more responsible stewardship of products used occasionally has evolved into formalized sharing processes. For example, there are hundreds of tool lending groups in North America and an increasing number of car collaboratives. Groups sharing children’s toys and baby furniture are quite common.

Some of these collaboratives are based on an informal honor system of sharing among a group of people who live in the same community. Other groups have paid staff that administer the transactions, collect fees perhaps annually or per use and facilitate lifecycle issues. There are as many other variations on setting up sharing economy initiatives as there are people to dream up the ideas.

Need for Inventory Management

Even though there is an element of trust to varying degrees within all these ventures, there is still a need for an organized approach to managing the inventory. After all, whether a workshop full of wrenches and saws or a fleet of $40,000 hybrid vehicles, the shared items represent considerable capital expenditure. A smart administrator understands the practicality of using barcode or RFID technology to:

  • Track location of each item in the common inventory
  • Coordinate scheduling
  • Maintain the items in good repair and adequate number

Inventory Data Collection

The barcode labels or RFID tags of an inventory software solution can provide useful information about each item such as:

  • Details of items; e.g. brand, model, serial number, vendor, data purchased, condition
  • Location of item on premises
  • Name of user, time checked out and expected return time
  • Maintenance schedules; e.g. oil change, tire rotation, blade sharpening
  • Lifecycle benchmarks; e.g. reduced emission control, degrading electronics, missing parts

Check-In-OutBenefits of Using Inventory Software

Inventory software such as IntelliTrack Check In/Out or other DMS solutions can provide an accurate, up to date and complete inventory listing typically resulting in:

  • Increased efficiency for maintenance and repairs
  • Increased accountability of user to return items in good condition
  • Reduced number of lost or stolen items
  • Ability to compile statistics such as frequency of usage, repeat users, increased demand and geographic info
  • Ability to determine feasibility of expanding in volume, kind of product or geographic availability

A collaborative economy initiative often begins in a small way with a few people sharing a few items. In the beginning, they would probably not see the need for any kind of technology solution. However, once the idea spreads beyond a few neighbors, no matter what kind of item is being shared, it quickly becomes obvious that some kind of inventory tracking and management tool is required.

In this day and age, there is no need to be stuck with pen and paper or a spreadsheet. An IntelliTrack specialist can easily identify appropriate, affordable inventory software that can grow as the sharing initiative expands. Today’s sharing economy depends on trust and goodwill, enhanced by efficient data collection and inventory management.

Contact the IntelliTrack team to discuss options for optimizing the sharing experience.

JIT Inventory ManagementDo you use a just in time (JIT) inventory management system? JIT has become increasingly popular in the last decade as businesses balance inventory costs with the needs of customers. It means you will have only enough inventory on hand to meet current demand. You are not spending money storing and maintaining stock just in case an order comes in.

Often, JIT inventory management is not successful because it is not well planned. It simply happens when you are searching for ways to save money and reduce storage space. Perhaps, you have realized the negative impact on your cash flow because you purchased and are storing items for weeks or months before they are used. Some of this stock might slide past its best before or expiry date before you can use or ship it. You decide to strip down your inventory and are then caught short when a loyal or even a new customer unexpectedly places a significant order.

If that is your situation, it is time to consider putting in place the most appropriate inventory software such as IntelliTrack WMS and planning how to use it to its optimum advantage for your operation. JIT then becomes a business strategy not a default decision.

Features of Effective JIT Inventory Management

An effective JIT system features inventory software that provides:

  • Accurate, real time monitoring of all stock

You can have confidence that your snapshot of available inventory is up to date, accurate and complete.

  • Well informed forecasting of need

You can set narrow and realistic parameters for alerts to be sent about stock reaching re-order levels.

  • Integration with other back office systems

You can streamline your operations by integrating the inventory software with other information systems such as purchasing, shipping and invoicing. For example, automate replenishment orders by incorporating information about amount of inventory issued for manufacturing or shipping.

  • Flexibility to adjust quickly to changes in volume of business

Automate alerts about unusually high or low turnover of inventory with possible adjustments to re-ordering processes.

  • Reports

You can decide what reports you want produced automatically or on demand to inform your short and long term planning so your JIT inventory management is realistic and sustainable.

Cautions

Well planned JIT systems can be incredibly effective. However, because there is a fine balance between sufficient stock, stock shortages and stock surpluses, there are a few cautions to consider:

  • Trust in your supply chain

All your efficiency will not pay off if there is a breakdown in your supply chain such as delayed shipments. This is particularly critical if the inventory is perishable or has an imminent expiry date. Although there can never be universal guarantees, you will want to make sure there are back up plans so your operations continue.

  • Ability to use available information for monitoring operations

You and your supervisors must understand how to use the information available from the inventory software to adjust workflow, perhaps redeploying staff until the inventory is replenished, all the while keeping operations moving along.

  • Ability to use information for planning

As the business owner or part of the management team, you have to understand and analyze the reports produced by the inventory software. For example, if there is an emerging trend to increased sales of a certain product over the two quarters, you might want to adjust the authorities for purchasing inventory and review the effectiveness of your shipping procedures. You do not want your JIT inventory to run out or to overload your shipping capacity.

Benefits of JIT Inventory Management

If JIT inventory management is done well, the benefits are obvious:

  • Optimized storage space
  • Improved workflow
  • Increased efficiencies for scheduling personnel
  • Increased cost effectiveness
  • Improved customer satisfaction
  • Decreased employee frustration at lack of stock

If it is your time to organize JIT inventory management in your business, contact our IntelliTrack team. They can work with you to review your particular needs and recommend the best inventory software to support streamlining your operations. Start the discussion now.

Stratus line of products - Inventory SoftwareWhether you are finally making the move from a paper and pen or spread sheet inventory or are upgrading the inventory software installed on your servers, it is time to consider a more effective option. Check out cloud-based barcode technology. Our IntelliTrack specialists can walk you through the pros and cons for your operation.

Web-based inventory technology with cloud storage offers you several advantages. Take the time to review just some of the features and benefits so you will know what questions to ask in order to make an informed decision.

Real Time Data

Any authorized personnel can both input and access data immediately at any given time from anywhere via the internet. This means that:

  • Details of the entire inventory are always visible, including location, stock level, lot numbers, conditions, manufacturers and even users
  • Workflow can be monitored and adjusted as needed for maximum efficiency
  • Performance can be monitored with data available for reviewing the overall procedures and the work done by individuals

Cost Effective System

A web based inventory solution such as the IntelliTrack Stratus line of products saves you money in the longer term:

  • Little or no upfront capital expenditures; you can often use your existing hardware
  • Typically, expenses are paid in monthly/quarterly instalments as you are using the software
  • Minimal downtime for software installation
  • No need for expensive, regular upgrades of servers and other equipment
  • Little or no costly time away from the job for worker training
  • No need to pay for an IT specialist on staff as there is no IT infrastructure to install and maintain; system admin, backup, recovery and upgrades are all done remotely by accessible professionals

Results of Installing a Cloud Based Inventory Software System

You will immediately see the results of installing cloud based inventory software. Product such as IntelliTrack Stratus packages gives you complete control in tracking and managing your inventory so your business will experience:

  • Increased productivity

With the real time data that allows you to monitor both process and performance, you will be able to adjust the variables until you achieve optimum workflow. You will not just think there are patterns or trends in the operations, you will be able to describe them in detail and make changes accordingly.

  • Integration opportunities

A good inventory solution allows easy integration of your inventory software with back office systems such as accounting, sales, shipping and even HR scheduling. However, a cloud-based installation also makes it easy for B2B integration among shippers and receivers, increasing the overall visibility of your inventory throughout the supply chain.

  • Increased profitability

There are always ways to save money when you have accurate and complete data to help adjust the workflow and worker schedules. However, a significant benefit of cloud-based inventory software is eliminating the need to employ and supervise IT personnel. You can simply purchase the inventory software and professional services you actually need for the amount of time they are used.  Besides saving money, you can also increase revenue as you can focus on building your core business instead of spending time maintaining the current system.

Contact IntelliTrack to start the conversation about installing a cloud-based Stratus inventory solution.  Our team of specialists in inventory software will walk with you through a review of your operations and a discussion of the pros and cons of various options for tracking and managing your inventory. After you make a decision, this same IntelliTrack team will facilitate the installation, training and ongoing support of your new Stratus technology solution.

Inventory-SoftwareProduct recalls have become common for many reasons, from defective parts in autos or baby toys to the accidental distribution of expired pharmaceuticals or tainted food.  Whether you are a manufacturer, a reseller or a 3PL distributor, you want to make sure your business has the tools in place to handle any product recall. Our IntelliTrack specialists suggest you begin with reliable inventory software.

Assess Your Recall Readiness

Begin by asking yourself the following questions:

  • Do you have written policies for compliance with any FDA, USDA or other applicable regulatory agencies for distributing any hazardous or perishable product?
  • Is your product traceable through the entire supply chain?
  • Can you identify lot/serial numbers for specific parts or ingredients of other products?
  • Do you have immediate access to accurate and complete customer shipping information?
  • Do you have up to date contact information and easy access to any manufacturer or supplier of products you handle?
  • Do you have a written process in place for notifying customers directly of any recall or for ensuring that the manufacturer notifies customers to whom you shipped the recalled product?
  • Do you have a written process for accepting recalls and, if necessary, disposing of them or returning them to the manufacturer?

How to Plan for Recalls, Using an Inventory Software

Good planning will ensure a smooth response to any potential or actual recall situation. Consider the following factors:

  • Data collection for product identification

You want to be able to identify immediately any items that are subject to recall. In order to do this, you must know your inventory in detail. An inventory management package uses barcode or RFID tags that collect specific descriptors for all items. It is up to you to determine the info you require, including lot and serial numbers, manufacturers, date made, expiry date, ingredients, ordering and shipping details and any other significant detail. A centralized database allows immediate access to accurate, complete, real time information.

  • Prevention

Although you want to make sure you can track any product that has left your business, it is always better if you can prevent distribution in the first place. If you handle products with expiry dates, make sure you install inventory software that sends alerts about expiry dates so you do not ship expired product.

You can also program your software to incorporate a picking process that ensures first-in product is first-out. Such a function also helps prevent spoilage or deterioration of a product even if the actual expiry date is not due.

  • Response to Recall

Using your database, and with the help of your inventory software, you will be able to track any product you have handled using information provided by the manufacturer and/or regulatory agency. If you regularly manufacture or transship hazardous goods or pharmaceuticals, you should already have specific policies and procedures in place to ensure compliance. Even if you do not usually have recall issues, you need written policies that include designating a particular person to oversee the recall process. Make sure all policies reflect the most up to date regulations. Such policies typically include a description of your company’s role in notifying anyone downstream in the supply chain and in handling recalled product if you are the recipient.

Recalls are increasingly frequent in many industries as manufacturers seek to mitigate the consequences of consumers using defective or deficient products. IntelliTrack understands the importance of being ahead of the curve in addressing any recalls of product you handle. The IntelliTrack team can review your operations, identify the operational implications of your role in the recall process and recommend the right inventory software to prevent or manage recalls.

Inventory Software Solution for HealthcareWhether it is an acute care hospital, long term care facility or community clinic, your healthcare facility can benefit from installing an integrated inventory software solution. All too often, the focus on primary patient care neglects the tools, equipment and supplies needed to support that direct care. Such inventory includes both consumables and fixed assets.

If there is not an organized way to track and manage these items, the result is often a delay at the point of care for the patient. The result could be a scramble to locate an important piece of equipment such as the portable x-ray machine needed in the emergency department. Perhaps a machine is down for repairs so the nurse who needs it has to try to borrow one from another unit. The wound care specialist realizes the stockroom is out of specialized dressings. The list of possibilities is endless.

IntelliTrack Inc. has an easy, effective solution with it barcode or RFID technology. You decide exactly what information you want to collect about your equipment and supplies and who can retrieve it, by query, search or report. A barcode label or RFID tag is affixed to every piece of equipment or furniture and every package of supplies that comes into the facility. The label is scanned with the information transmitted for storage in a central database. Anywhere in your facility, employees who are authorized can track each item through a desktop or mobile device.

1. Improved Quality of Patient Care

There is immediate, real time information on the location, operational status, condition, and availability of equipment and supplies needed for patient care. Healthcare professionals can coordinate their schedules and the availability of equipment, resulting in timely patient care. Also, equipment can be located and moved quickly when needed unexpectedly. It might be as simple as locating an air bed to relieve a severe pressure wound or as critical as accessing a blood bag for an accident victim in emergency.

2. Increased Productivity

Healthcare workers do not have to delay testing or treatment procedures while waiting for equipment and supplies. Up to date information about the availability of these essential items allows them to make informed decisions about whether or not to wait or to move on to other work.

 

3. More Efficient Use of Medical Equipment

Medical equipment, such as imagers and scanners, is expensive and usually requires highly trained technicians. In order to increase the return on investment (ROI) of such equipment, it is useful to have data about usage and technician availability. Such information helps you, as an administrator, plan for maximizing equipment use. Many hospitals now operate this equipment day and night to limit patient backlog.

 

4. Equipment Lifecycle Management

Your healthcare facility probably has many kinds of equipment, from imaging machines and dialysis units to wheelchairs, office computers and floor cleaners. No matter how sophisticated or expensive, all these pieces of equipment eventually have to be replaced or upgraded. It is easier for you to manage the lifecycle issues with detailed information ranging from the procurement date, price and vendor to maintenance schedules, repair records and disposal plans. Depreciation information can be built into calculations.

 

5. Planning

With inventory software on a central database, you and your management team are able to plan more effectively as you can access:

  • Real time operational information about demand for equipment and supplies, stock levels, maintenance issues and even staff availability to use the items
  • Aggregate data that shows emerging trends; e.g. changes in demand for equipment and supplies resulting in stock surpluses or shortages
  • Equipment and furniture lifecycle info for budgeting replacement pieces

 

IntelliTrack can work with you to review your operations and recommend the best inventory software for your needs. Our experienced IntelliTrack specialists can design a barcode or RFID technology solution that includes their excellent software systems and reliable, state of the art hardware from trusted partners.

 

IntelliTrack is not completely off the shelf. We do produce standard inventory packages such as:

  • Fixed Assets for equipment and furnishing
  • Check In/Out for shared equipment and tools such as laptop computers
  • Stockroom Inventory for maintaining medical, administrative and cleaning supplies at an optimum level

However, all our inventory software can be customized so it is the right solution for your specific operations.

 

Contact us to start the discussions about the right inventory software solution for your healthcare service.

Inventory-SoftwareIntelliTrack Inc. is proud of the range of technology solutions it can provide to streamline your inventory management operations. Whether you run a warehouse, distribution center, hospital or emergency response service, this industry leader can provide customized software and the best hardware available for you to track and manage both your consumable inventory and fixed assets. Over its 20 years corporate history, IntelliTrack has developed partnerships with proven, reliable manufacturers of scanners, printers, mobile computers and other tools that support its excellent inventory software.

However, the IntelliTrack specialists also understand there is more to a solution than first class technology. The efficiency and cost effectiveness of any barcode or RFID solution is determined by the users at all levels of the organization. That is why the IntelliTrack team is prepared to work closely with you and your employees, from decision making about the best products through to installation, training and follow-up support services.

You probably do not want your employees to become barcode or RFID experts. However, both front line users and the management team need to be comfortable using the technology. Only then will they be able to give useful feedback and explore ways to maximize the functionalities of the system. How do you make this happen?

Front Line Users

There are few people who immediately embrace change in their routine. In order to overcome any employee resistance to using barcode or RFID technology, you might want to consider and plan for:

  • Participation in System Design

Provide as much opportunity as possible for the front line users of the technology to be involved in decision making around the design. It might be as simple as providing feedback on the ease in holding various devices or the format on a screen or as complex as critiquing the efficiency of data capture. An IntelliTrack specialist can advise you on how to involve these essential employees.

  • Ongoing Communication

Make sure all employees know the status of the process from initial consultations with IntelliTrack to the implementation schedule.

  • Training

It is usually useful to provide various modalities of training, from manuals to online instructions and group sessions. The content should include not just the “what to do” and “how to do”, but also the rationale for the procedures. If employees understand how the steps they take affect the workflow, company planning and customer satisfaction, they are more likely to have a positive attitude.

  • Opportunity for feedback

Do not just provide opportunities for feedback after implementation. Actively solicit employee comments and suggestions. Show that you take their input seriously.

  • Ongoing support

Make sure you have ongoing technical support that is available at all times the employees are working. This is especially important at the beginning of implementation and for new employees.

Management Team

Anyone on the leadership team, from front line supervisors to managers responsible for departments such as IT, finances, HR and purchasing, needs to be involved in the process of planning for and implementing barcoding or RFID solutions. The primary factors are the same as those of the front line users; the scope is usually larger and more integrated:

  • Participation in System Design

Whether your business is one small warehouse, a large hospital or a multi-site distribution operation, you will want a technology design that coordinates and integrates all the data capture. To achieve successful integration, you need to involve the key personnel for each function from the beginning. Their decisions are not just around devices and software, but also identifying the interfaces of the functionalities and the kinds of reports that are needed for monitoring and planning operations. If there is already a larger ERP system in place, this new technology might be incorporated easily into it. The people actually using the systems are the ones to provide input into the design.

  • Training

Not everyone needs the same kind of training but everyone who will use any part of the new technology has to at least understand the basic process and the information that can be entered and accessed. Again, it is important that everyone understand the rationale for the overall barcoding system and for the way it works to everyone’s advantage.

  • Opportunity for Feedback

Feedback from the management team is important to the overall success of a barcoding or RFID solution. These are the people who will see the more strategic impact such as trends in increased customer satisfaction, decreased employee turnover and increased profitability. When they make suggestions about changes, they deserve to be taken seriously.

Installing an effective barcoding solution depends on much more than state of the art technology. IntelliTrack certainly can provide you with the best in customized software and hardware. However, they are also prepared to spend the time with you to develop a solid implementation plan that involves all company stakeholders. With IntelliTrack expertise and your employees’ active involvement, your barcode or RFID solution is sure to be successful.

Warehouse OperationDo you fit the profile of business owners who want larger warehouses? Seventy-one percent of respondents to a 2014 study by Motorola wanted either to acquire another facility or to increase the size of their current building. There are usually a couple of obvious reasons:

  • The volume of your business is growing, and/or
  • You are expanding your product lines

If you are confident this growth is sustainable, you need the extra space so warehouse expansion seems like a good idea. After all, the economy appears to be turning around with an uptick in consumer spending, resulting in an increase in manufacturing. Also, e-commerce is enjoying a huge popularity with no end in sight. Huge warehouses are a staple for online businesses which must be ready to respond instantly to customer demands.

Technology Considerations for Warehouse Expansion

However, there’s more to warehouse expansion than leasing another building and buying product to fill it. Do you have the technology solution in place to manage that extra product, especially if it is located at several sites? Handling more products usually means managing more personnel too. At IntelliTrack, we have a team of specialists just waiting to discuss your particular situation and see how we can help you.

We understand the complexities of a warehouse operation. There are many points where human error can be a problem in receiving and storing product and processing customer orders. An IntelliTrack barcode or RFID solution can minimize, if not eliminate mistakes in labeling, storing, accessing and shipping your inventory.

The larger you grow your operation, the more opportunity there is for making mistakes. In order to plan for foolproof inventory management, start by asking yourself the following questions:

  • Do you handle consumable inventory, fixed assets or both?
  • Consumable items come into your system, are processed and move out. This includes products that are stored or manufactured, then shipped to customers.
  • Fixed assets are part of your property inventory, are used or deployed and then returned. This includes your own equipment, tools and supplies and items that are sent out, perhaps leased to customers and then returned.
  • What information do you need about the product in the warehouse, including lot and serial numbers, vendor, expiry data, condition, size and color?
  • Do you need to validate shipping against predefined orders?
  • What information do you need about stock levels, including re-order alerts and data on surpluses?
  • How often do you do physical counts?
  • What do you need to know about employee performance, including equipment usage and time taken for receiving, storing, picking and shipping?
  • Do you need to track assets or equipment that is deployed repeatedly?
  • Do you require real time data in order to monitor operations?
  • What kind of reports do you need to make management decisions for planning operations and financial management?

All this information will form your decision about a warehouse management system. The best technology in the world is ineffective if it does not meet your particular needs. 

Technology Solutions for Managing Warehouse Inventory

There are many software solutions available for managing your warehouse inventory. A sampling includes:

You are probably looking for a mobile solution to increase the productivity of your warehouse workers. Issue each one with a mobile device for capturing data for storage in a central file and accessing picking and shipping orders and any other information needed to keep product moving.

Scalability is an important feature of a successful software solution. If you are considering expansion of your warehouse operations, you want to be sure any technology will be able to accommodate the increase in product, vendors and customers.

Integration into larger information systems is also important to save time and duplicate work. Link a WMS solution to an accounting system such as QuickBooks, to shipping providers such as WorldShip and even to your security information system if there are concerns about inventory loss.

Decision Making Process for Warehouse Technology

Whether you are making the leap from a manual or spreadsheet inventory system or upgrading your current electronic system, you will probably need expert help in considering the options available. The IntelliTrack team can walk with you through the decision making process:

  • Review of current operations and plans for expansion
  • Identify points where technology can support the operations based on answers to the questions about your consumable and fixed inventory
  • Discuss benefits of incorporating a warehouse
  • Review with you the pros and cons of various warehouse management technology solutions, both software and hardware
  • Recommend solutions and support your decision making
  • Facilitate installation, training and implementation of warehouse management solutions
  • Arrange for ongoing support services

Benefits of Expanding with Warehouse Management Technology

An attractive ROI is important when considering expansion of your warehouse operations. Even when you know the market is there and the product is available, you do have to consider how quickly you can amortize the upfront capital expenses such as:

  • Buying, building or expanding a facility
  • Customizing the building design including dock and yard
  • Purchasing/leasing additional warehouse equipment
  • New or additional technology hardware and software for inventory management

IntelliTrack reps would be pleased to show you the kind of savings you would realize if you move from a pen and paper inventory to WMS technology. For example, a small warehouse operation can save 90% in labor cost using barcode technology instead of manual inventory counts.

The procedures you are following in your warehouse now might not work as effectively in an expanded operation. It is important to have a WMS system that allows you to monitor the entire end-to-end process. Such technology is efficient and accurate, increasing productivity, reducing picking and shipping errors and increasing customer satisfaction.

Contact our IntelliTrack team to help you plan for a WMS solution to be built into your warehouse expansion plan right from the beginning.

IntelliTrack Warehouse Management SoftwareManaging the inventory of a warehouse or distribution center can be an exercise in frustration. There are many points where errors in labeling, storage location or stock levels can leave employees frustrated and customers very unhappy. Working in multiple locations can add complications.

Warehouse management technology is a good solution and even better when part of an integrated Enterprise Resource Planning (ERP) system. IntelliTrack, an industry leader in inventory management products, offers several technology solutions for successful inventory management of all sizes of warehouse operations. They also have the experience and expertise to recommend options for integration with ERP.

Warehouse Management Inventory Solutions

IntelliTrack WMS is a robust, cost effective solution for managing inventory through the warehouse and distribution system. It is available in three versions:

Depending on the operational needs, available features include:

  • Physical inventory, shipping, receiving and picking system
  • Terminal messaging
  • Pallet tracking
  • Cross dock notification
  • Sequenced pick and put away
  • Wave and zone picking

The entire inventory can be managed from one dashboard, including product search by item description or location, browsing and generating reports.

ERP Integration

Warehouse employees and supervisors know their work is the primary focus of their warehouse/distribution operations but they do need the support of many other business functions to run a successful operation. An Enterprise Resource Planning (ERP) system facilitates the flow of information among all the business units and can even manage contacts with external stakeholders.

How ERP Works

An ERP solution is really a suite of applications such as WMS that are managed through one common database. It can support various hardware and applications even for mobile devices while maintaining a consistent look and feel for the user. For example, data is transmitted from a warehouse worker to the centralized database where it is processed and any net changes, orders or reports sent back to the user and/or on to other support services and management.

IntelliTrack WMS has the capacity to be integrated into a full feature ERP system which might use a common database for:

  • Supply chain management, including inventory info that triggers purchasing, promoting specials on overstock or moving stock to different location
  • Processing orders from receiving, cross docking and generating picking orders and shipping labels to sending a re-order alert to purchasing
  • Accounting functions, including processing payments for product received, invoicing for product shipped, managing cash flow and preparing financial statements; e.g. WMS can connect with Quickbooks
  • Customer relationship management (CRM) from sales and marketing to customer service
  • Human Resources function which includes recruiting, training, managing payroll and benefits and performance reviews
  • Self-service access to information for suppliers, customers and/or employees

Benefits of ERP Integration

Although the ERP concept was originally developed for large companies, it quickly became obvious that any size of organization can benefit from system organizations. There are two primary focuses for reviewing the benefits of integrating IntelliTrack WMS into a larger ERP system.

  • Operations

A well designed ERP solution increases efficiencies and productivity such as:

  • Eliminates entering data more than once in various information systems such as purchasing or generating shipping labels, allowing employees more time to communicate with each other about operations
  • Provides real time data including location, stock levels, expiry dates and status of product
  • Allows every authorized person access to the same real time data
  • Management

Having WMS integrated into an ERP system with one central dashboard is cost effective and efficient as it:

    • Provides up to date info for monitoring operations
    • Provides info for performance management of individual and work teams by providing reports on time spent and cost of each activity
    • Identifies inconsistencies and potential problems such as stock shortages that are not triggering re-order alerts, all affecting customer relations
    • Maximizes the capacity of all the company technology, decreasing dependency on several information systems, each with its own capacity and maintenance issues
    • Decreases the amount of IT support needed
    • Supports quality assurance initiatives which can lead to improvement in the routine operations and the overall business process
    • Provides comprehensive reports to support any expansion plans for the business; the more complex the business, the more important it is to have a coordinating function
    • Produces customized financial reports to reflect the various business processes and allow for more specific financial management decisions

Overall, the data available from having IntelliTrack WMS integrated into an ERP system allows employees to be more productive and management to be more strategic. An integrated information system is more flexible and responsive to change than an organization with compartmentalized processes. Management can plan and even test operational changes. As soon as the implementation goes live, they receive immediate feedback on how those changes impact the work and results across the entire operation.

Management decisions about operational changes, budgets and staffing models will be evidence based. This increases the feasibility of moving in a certain direction. The integrated model also allows for ongoing monitoring and evaluation of changes which leads to problem prevention or early intervention.

IntelliTrack WMS solutions are available for any size and kind of warehouse. However, their effectiveness can be greatly enhanced if they are attached to a company-wide ERP system.

Contact the IntelliTrack team of specialists to start the discussion of installing or upgrading your warehouse inventory management system.

As executives who work in procurement find themselves under more pressure to provide value for their stakeholders, they must come up with new and innovative ways to achieve a streamlined supply chain. In 2015, they will need to look at their procurement operations and focus on how to extract the most value by looking at their goals and processes.

The level of expectation placed on procurement is growing at a fast pace and managers need to take control, or risk being left behind. In order to help with this, let’s review the five major areas that will effect operations this year.

Organizational Alignment
The first is organizational alignment, which will require more emphasis in the coming year in order to stay ahead of the curve. In order to do this, procurement needs to improve upon the relationships it has with other aspects of the organization—finance, sales, marketing, R&D, etc. If these relations are improved, it will mean that procurement is moving towards delivering the amount of value required by the business and it’s stakeholders.

Inventory Strategies
The second area to look at is inventory strategy. The rise of multi-channel retail means that simplification of the supply chain and shortening the life cycles of products and new technology are of utmost importance to leaders in procurement. In 2015, they will have to focus on strategies that can optimize their ever-expanding inventory network and help improve the service they provide to the customer.

Performance Management
The third area is performance management in real-time. Central to this will be cloud-based software, which is now crucial to the supply chain, especially when it comes to purchasing. Procurement leaders will be able to build on their relationships with partners in sourcing and have more insight into the supplier base, which will ultimately help save money.

Emerging Markets
The fourth area is emerging markets as a source of growth. These include markets in Asia and South America, which have been identified as sources of growth in logistics and manufacturing. 2015 will see supply chain executives capitalize on these, which will, in turn, have a significant effect on the supply chain. As a result, pricing, product design and logistics will all be impacted.

Partners
The fifth and final thing to note is that suppliers will become partners in the sharing of information related to problems you might share. This will provide procurement with more information than just what is related to product specifications, as they will be able to see how their suppliers solve problems.

The market for warehouse management systems continues to grow at a rate of about 6% per year. This growth is driven by the economic landscape, which has been improving and thus encouraging companies to devote more of their budget to technology. This money is showing up in the DC, bringing a more streamlined system that is much more visible and easily analyzed. It also goes towards upgrading and replacing existing, outdated solutions.

Let’s examine this growth and the state of the WMS market currently—find out which are the key trends in the industry and highlight the technological developments on the horizon.

WMS Harnesses the Power of the Cloud

Dwight Klappis, VP of research for Gartner, says that there has been a rapid trend for companies adopting cloud-based WMS solutions. Worries over whether to protect data with a firewall or open it up to the web, and worries over performance and scalability, have been put to one side. Cloud-based management systems have become a preference for the majority of shipping companies.

WMS Continue to Evolve

Even though WMS is the major player in supply chain software, the makers of products are still seeking to find ways to improve their service. This attitude is motivated by the needs of their customers, and the innovations come in many shapes & sizes. For example, at a basic level, the vendors of software are focusing on the development of solutions to support processes like cross docking, multiple manufacturer facilities and bypass shipments.

WMS Goes International

Demand for WMS shows up outside of the US as well—emerging markets are said to be about 15 – 20 years behind the WMS systems of companies operating in established markets. In emerging markets, businesses are evolving towards a point where even rudimental developments in WMS are becoming extremely important, and are set to gain a greater foothold as businesses continue to strive towards meeting orders in an efficient and timely manner.

What do you see in store for WMS? Share your thoughts by commenting on our Facebook or twitter pages.