“The goal of a warehouse management system: to provide management with the information it needs to efficiently control the movement of materials within a warehouse, No matter how simple or complex the application is!”
A warehouse management system (WMS) is a software application and part of an Enterprise Resource Planning (ERP) system that supports the day-to-day operations in a warehouse enables centralized management of tasks such as tracking inventory levels and stock locations. The emergence of digital technology has led to the increased adoption of warehouse management systems (WMS) in a number of applications suuch as Retail, Electronics, Food and Beverage, Pharmaceutical, 3PL etc.
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Components of warehouse management system: Software and Services; Software – On-premise and Cloud; On-premise – Labor Management Systems, Analytics and Optimization; Cloud – Labor Management Systems, Analytics and Optimization; Services – Consulting, System Integration, and Operations and Maintenance.
This cloud based functionality delivers innovative product features, mobile solutions, and a user-friendly interface with the following built-in capabilities: Stock keeping units, Warehouse storage locations, Dock doors, Workforce management, Inbound receiving and putaway, Enterprise inventory management, Outbound allocation and store receiving, Material landing by using: Location Sequence, Fixed Location, Random Location, First-in-first-out (FIFO), Last-in-first-out (LIFO), Quantity or UOM, Pick-to-clear, Lot Sequence, Task Interleaving, Automated Data Collection technology
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Driving Factors: Rising demand for extended WMS solutions supporting in-store inventory, cloud integration, and order management along with standard warehouse management system offerings, The increasing adoption of BYOD in various industries has led to an increasing demand for cloud-based WMS solutions, People are more inclined towards shopping things online.