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Inventory software for warehouse1/11/2024 ![]() Task management: Tracking workers’ effectiveness using customized performance metrics called KPIs.Inventory tracking: Using specific techniques such as IoT-enabled devices, RFIDs, barcodes that allow for automatically identifying the current location of items.Design of a storehouse: Optimization of inventory allocation and ensuring customized working process as well as an accurate selection of picking methods. ![]() Since WMS and IMS can be two different and autonomous software solutions, let’s discover the key features they might contain. Simply put, warehouse management is the broad term referring to all processes inside a warehouse, while inventory management is a narrow specialization in a supply chain process. WMS ensures the operation of a whole warehouse, where stock management is one of the main components. To proceed further, we should distinguish two terms not to use them interchangeably: inventory management system (IMS) and warehouse management system (WMS). With these investments, SMBs make stock control a critical factor for their financial success. Today, the tectonic shifts in the world’s economic landscape push businesses to act in order to survive.Īlmost half of the industry-leading chains are ready to invest in warehouse automation, robotics, AI and ML, and other core technologies to drive the supply chain’s performance. The fact is that 46% of SMB representatives still track their stock manually or don’t do it at all. This is why many small and midsize businesses (SMB) are interested in launching advanced warehouse management operations and are investing in inventory management software. Today’s main challenge for enterprises is reducing manual work involved in inventory management and saving productive hours by integrating automatic systems backed by the latest technologies. ![]() Inventory management (also known as stock management or stock control) is one of the fundamentals of a supply chain, which helps track the company’s resources and ensure they are sufficiently stocked to work correctly.
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