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Introduction : Why yo need Automated Warehouse Management System
Managing a warehouse involves more than just storing items—it’s about optimizing every aspect of inventory and asset management to enhance efficiency and profitability. In today’s competitive market, investing in an Automated Warehouse Management System (AWMS) is not just advisable, it’s essential.
In this article, you will learn:
- How AWMS reduces costs and operational inefficiencies.
- The impact of AWMS on inventory accuracy and compliance.
- Ways AWMS improves customer satisfaction and business growth.
Let’s explore how this technology can transform your warehouse operations.
Here are 20 compelling reasons, supported by facts, why you need an Automated Warehouse Management System:
| No. | Issue | Impact | Source |
|---|---|---|---|
| 1 | Asset Misplacement | 40% of Warehouse managers think asset misplacement is a major issue. | From a study done by Zebra Technology in 2022 |
| 2 | Inventory Inaccuracies | Without Automated AMS Inventory inaccuracies can go up to 15% | Found in a Study By Aberdeen Group in 2018 |
| 3 | Inefficient Space Utilization | Inefficient Space Utilization can reduce warehouse capacity by up to 30% | 2019 Report by WERC |
| 4 | Increased Operational Costs | Poor asset management can increase operational costs by 10-20% | Highlighted in McKinsey's 2021 analysis |
| 5 | High Labor Costs | Manual tracking can increase labor costs by 20% | The 2019 study by the Logistics Management Journal showed that |
| 6 | Downtime | Impact of equipment failure and unplanned maintenance can cost manufacturers up to $260,000 per hour | A 2018 Aberdeen Group report highlighted the financial impact of equipment failure and unplanned maintenance |
| 7 | Delayed Order Fulfillment | Inefficiencies in asset management can delay order fulfillment by up to 25% | Capgemini's 2021 study discussed how poor asset tracking could cause delays in order picking and shipping |
| 8 | Poor Visibility | Lack of real-time visibility can lead to inefficiencies costing up to 20% | A 2020 Gartner report emphasized the importance of real-time data for making informed decisions and optimizing warehouse operations |
| 9 | Compliance Issues | Non-compliance with industry regulations can result in fines averaging $200,000 per incident | The 2019 report from Regulatory Compliance Watch outlined the financial risks of non-compliance |
| 10 | Inaccurate Reporting | Inaccurate reporting can lead to decision-making errors costing up to 15% of annual revenue | The 2020 article from HBR discussed how inaccuracies in asset data could misinform business decisions, impacting profitability and strategic planning |
| 11 | Asset Theft | Asset theft accounts for $50 billion in annual losses globally | NASP's 2020 report highlighted the significant financial losses due to theft and stressed the importance of robust asset-tracking systems to deter such incidents |
| 12 | Maintenance Delays | Delayed maintenance can increase repair costs by up to 30% | The Uptime Institute's 2019 report noted that postponed maintenance often led to more severe equipment failures and higher repair costs |
| 13 | Suboptimal Inventory Levels | Suboptimal inventory levels can lead to 15-20% higher operational costs | The Aberdeen Group's 2018 report illustrated how poor inventory management could result in overstocking or stockouts |
| 14 | Data Inconsistencies | Data inconsistencies can cause operational inefficiencies costing up to 10% of total revenues | Gartner's 2019 study highlighted the operational disruptions caused by inaccurate or inconsistent asset data |
| 15 | Limited Traceability | Limited traceability can result in recall costs averaging $10 million per incident | The FMI's 2020 report detailed the high costs associated with product recalls due to inadequate traceability systems |
| 16 | Increased Risk of Damage | Poor handling practices can increase the risk of asset damage by up to 20% | The ALA's 2019 report underscored the financial impact of asset damage due to improper handling |
| 17 | Inefficient Asset Utilization | Inefficient asset utilization can result in 15-30% higher capital expenditures | McKinsey's 2021 report highlighted the increased costs of underutilized assets |
| 18 | Manual Errors | Manual tracking can result in error rates of up to 10% | The 2018 study by the IJPE examined the high error rates in manual tracking processes |
| 19 | Complex Audits | Conducting audits manually can take 50% longer | The IIA's 2019 report discussed the time and cost savings achieved through automated audit processes |
| 20 | Customer Dissatisfaction | Operational inefficiencies can decrease customer satisfaction by 15-20% | The ACSI's 2020 report highlighted the impact of operational inefficiencies on customer satisfaction and retention |
Technowave Group's Automated Warehouse Management System - EasyTRACK Lite
An intelligent solution to control movement and storage of materials within a Warehouse.
A well-structured Warehouse Management system is important for the smooth and efficient operation of any warehouse, irrespective of the size or volume of material it handles. Most of the small and medium warehouses do not require an expensive WMS with redundant features. easyTRACK WMS is a perfect solution on the enterprise mobility for the warehouse management of small and medium enterprises which helps them manage all the essential warehouse functions. easyTRACK warehouse automation software allows the users in warehouse to manage the following operations at their palm.
- Goods receiving
- Put away
- Picking & Palletizing
- Dispatch
- Stock count, etc.
| No. | Feature | Description |
|---|---|---|
| 1 | Real-time Inventory Tracking | Provides accurate, up-to-date information on inventory levels, locations, and movements, enabling quick identification and correction of discrepancies. |
| 2 | Automated Inventory Management | Automates item counting, reordering, and tracking, preventing stockouts and ensuring product availability. |
| 3 | Asset Tracking | Manages equipment, tools, and vehicles, optimizing utilization and minimizing downtime. |
| 4 | Reporting and Analytics | Generates detailed reports for valuable insights into warehouse operations, aiding informed decision-making. |
| 5 | Improved Accuracy and Efficiency | Eliminates manual tracking errors, saving time and resources while enhancing accuracy. |
| 6 | Enhanced Visibility and Control | Provides complete visibility into inventory and asset movements, leading to better decision-making and increased productivity. |
| 7 | Improved Customer Satisfaction | Streamlines order fulfillment, reduces stockouts, and improves delivery times, boosting customer satisfaction and repeat business. |
| 8 | Regulatory Compliance | Ensures traceability for food and pharmaceutical products, meeting regulatory requirements and avoiding penalties. |
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Discover hidden costs and inefficiencies in your warehouse with our advanced RFID Warehouse Inventory Management System. Book a demo today to see how our solution can streamline your operations and enhance productivity. Our professionals are ready to help you optimize your workflows and achieve greater efficiency. Don’t miss the opportunity to transform your warehouse management—get expert assistance and start maximizing your potential now.
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