Efficient warehouse management is the lifeblood of business success in today’s competitive market. However, although stock control is vital in ensuring you put out the right products at the right time and minimise excess inventory, it is challenging. This blog post will explore how you can overcome your pain points and optimise warehouse space.
What are the most significant pain points when it comes to managing space?:
Many businesses need help managing their warehouse space effectively. Some of the most significant pain points include:
- Inaccurate demand forecasting: By better understanding your stock demand, you can optimise your stock levels and utilise your warehouse space more efficiently. However, mispredicting your stock demand can lead to overstock situations or stockouts, resulting in inefficient warehouse space use.
- Poor replenishment: Maintaining optimal stock levels is the key to preventing unnecessary stock accumulation in your warehouse. So, incorrectly replenishing your stock can create stockouts, or on the other side of the coin, an excess of inventory. It can also prevent you from making the most out of your storage.
- Stock waste: Failing to rotate your stock according to best-before dates can be expensive and cause stock waste. Plus, hoarding stock you cannot sell takes up valuable warehouse space.
- Manual stock recording: Manual stock recording processes are prone to errors and discrepancies, leading to inaccurate inventory data (and, once again, inefficient use of your warehouse space).
What is Accord’s Stock Control Software, and how can it help you to maximise your warehouse space?:
Accord’s Stock Control Software is a comprehensive solution that optimises stock holding and controls costs. By integrating with Accord’s Sales Order Management, EPoS, Purchase Order Management, and Warehouse Management modules, you can ensure that your stock replenishment aligns with your demand forecast, avoiding stockouts and maximising warehouse efficiency. Let’s take a closer look at the critical features of Accord Warehouse Management System that can help you maximise your warehouse space.
What are the critical features of Accord Warehouse Management System that can help maximise warehouse space?:
Accord WMS offers several features that contribute to maximising warehouse space, including:
- Adaptive Demand Forecasting: Accord WMS uses demand forecasting to help businesses accurately predict stock demand. As a result, you can prevent overstock situations and free up the space unnecessary stock occupies in your warehouse.
- Self-Adjusting Re-Order Levels: With Accord WMS, you can specify your safety stock levels in terms of days. This pre-planning ensures that your system issues stock replenishment orders automatically, preventing stockouts and reducing excess inventory.
- Real-Time Operation: Accord WMS implements radio frequency networking and voice technologies that enable your forklift truck drivers, order pickers, and stock takers to access real-time and efficient stock movements. This slashes your team’s stock handling time and improves overall warehouse efficiency.
- Stock Rotation by Best Before Date: As Forbes highlights, one of the best ways to reduce stock waste is by automating your process. Accord WMS ensures you can rotate your stock according to best-before dates, preventing stock obsolescence and waste and utilising warehouse space for active and saleable inventory.
- Bar Code Technology: Accord WMS utilises bar code technology for accurate stock recording, reducing errors and discrepancies in stock control operations. This leads to improved inventory accuracy, optimised warehouse space utilisation, and greater than 99% accuracy rates, as highlighted in a recent whitepaper titled ‘Order Picking for the 21st Century‘.
Who is Accord Warehouse Management System for?:
Accord Warehouse Management System is specifically designed for the Wholesale and Distribution industry, and it can help businesses of all sizes maximise their warehouse space. Whether you have a small warehouse or a large distribution centre, Accord WMS can be tailored to your needs to optimise warehouse space utilisation and improve overall efficiency.