Human Error Costs Warehouses Millions Of Dollars How Tracking Software Is Changing That For The Better


 

Automate the audit process

When even human ingenuity slips up, clever software will fill the gap.

Keeping track of government inventory is no small feat. A tiny error can turn into an avalanche of damage control, costing precious money and wasting plenty of time. Asset tracking software, just like any other form of specialized equipment, is designed explicitly to keep these occurrences to a very bare minimum. Plenty of other industries, from retail to marketing, can also benefit mightily from inventory tracking software solutions. Let’s see how much time and money you could be saving by making the switch.

Warehouses are constantly on the move. There’s new product coming in, old product going out and strict deadlines to meet near constantly. An estimated 30% of the over 600,000 warehouses in the United States have a WMS system installed. Chalk this up alongside the number of warehouses rising by nearly 7% over the last five years. This number will only grow higher as the benefits of asset tracking solutions become clear. These benefits range from creating more satisfied customers to saving money down the road.

What does management software do to bridge the gap between efficient and remarkable? It drastically reduces the margin for human error, for one. Inventory accuracy has been proven to increase by 20% with the aid of a WMS system. According to data provided by iBenchmarking Warehouse Performance, less than 30% of warehouses are efficient these days. This means a lot of lost stock, mismanaged orders, frenzied workers and frustrated managers. Keeping an eye on government inventory and new orders is hard enough without throwing mistakes into the mix.

The average warehouse management system can decrease errors by as much as 70%. This is useful, as classic pen and paper can still be lost or misplaced. An easy drop-down menu with accurately stored data will help everyone up and down the ladder. Shipping and manufacturing is getting more efficient by the day, with consumer bases always eager for the most convenient transaction possible. Despite this, companies are still holding onto more product than ever before. The amount of inventory on hand alongside average sales has risen by over 8% over the past five years alone.

Asset tracking, as a result, needs to be able to keep up with these rigorous changes. Nearly 70% of warehouses are planning on using mobile devices to manage inventory, as well. A lot of information is analyzed on-the-go to keep operations smooth, so the best inventory tracking software should be seamless whether it’s in the office or during a transfer. The cost of carrying inventory is reduced by nearly 30% in an automated environment and any warehouse can expect to receive as high as a 35% reduction in operating expenses with the aid of a WMS.

Transportation costs are on the rise. Simple mistakes can cause hundreds, sometimes thousands of dollars in loss to contend with. Unhappy consumers and businesses will cause a domino effect that puts your warehouse low on the list. Using a government inventory tracking software or audit automation tools will make sure you don’t have to worry about being left behind. Your information will be neatly stored by type and date, accessible through mobile devices as well as in-house to make sure everyone’s on the same page. Reduced transportation costs will help you put that saved money elsewhere for a more efficient business. All in all? You have nothing to lose by making the switch.

Where will your business go this year?