Warehouse visibility gaps cost businesses a lot of money. When there are discrepancies in counts, it can lead to unnecessarily overstocking items, stock-outs or diminishing inventory. For most businesses, inventory inaccuracies are often a result of human error in the warehouse. They are also attributed to other inefficiencies in physical inventory management and cycle counts. Cloud Inventory’s digital management platform assists businesses in boosting accuracy and automation to help remove gaps in inventory.
Reducing Warehouse Errors
With strategies aimed at quickly and accurately fulfilling orders while reducing labor costs, businesses that use warehouse storage rely heavily on controlling and tracking inventory in ways that allow efficient maintenance and restocking processes. The costs of dealing with human or system errors can be high without the right solutions. Whether a company has always been one entity or is the product of multiple companies merging systems, warehouse errors are growing problems in an evolving digital marketplace. Cloud Inventory’s Warehouse Inventory platform uses applications to automate the handling of material processes for increased efficiency. Enterprises have access to barcoding features, which help increase tracing and accuracy in the warehouse.
Moving Toward Modern Tracking
According to research, about four-fifths of surveyed businesses planned to purchase new technologies for warehouse management in order to boost competitiveness. By 2024, more than three-fifths of the surveyed companies said that they planned to at least partially rely on automated warehouse processes. Many of today’s business owners with warehouses realize that using technologies to reduce errors, boost efficiency and reduce labor costs in the warehouse is essential for staying competitive and maximizing revenue. They also realize the importance of using real-time activity tracking of manufacturing materials, orders and other inventory instead of using after-activity management.
Choosing the Right Platform
Selecting the right technology depends on KPIs, company goals, the size of the warehouse and the complexity of operations. Also, it is important to consider the company’s business model. Percent of line picking accuracy, inventory accuracy, on-time delivery of orders, turnover and other factors must be considered. Some industries have regulatory requirements that specify how often they must count cycles. This is especially true when inventory has a limited shelf life, must be stored within a specific temperature range or something else. In such cases, the processes for cycle counting must properly identify the item, ensure that all storage requirements are met and ensure compliance with any other regulations. Having a platform that offers real-time inventory management is key to meeting all compliance measures. Cloud Inventory provides cycle counting technology that meets such demands with barcoding and communication features.
Since every warehouse has differing and unique needs, Cloud Inventory has a low-code platform. It offers scalable field inventory management for companies with complex needs. Its mobile applications can be configured to meet the customized demands of each entity, which is beneficial for businesses as they grow or evolve and need to modify apps to meet or adapt to specific processes within the warehouse. Additionally, the applications are designed to be easy enough for involved users to understand and use correctly. They maximize user experience for employees on all levels who work with inventory in any capacity. This benefit also contributes to increased accuracy.
Moving Into the Future
When enterprises are reliant on paper-based inventory management, they continue to struggle with communication and strategies to reduce errors. In many cases, errors are not discovered until days, weeks or months later. In addition to impacting the bottom line, such outdated systems can deter customers and employees. Since businesses must be more competitive and provide positive worker experiences to survive today, moving into the future with real-time tracking is a must for any long-term sustainability strategy. Cloud Inventory’s Warehouse Inventory platform streamlines user experiences and boosts accuracy with its low-code technology, and it captures valuable information in every process. From receiving to shipping, it helps reduce costly gaps and boost the ability to generate revenue.