September 19th 2023 11:00:00 AM
Does Your Warehouse Management Software Deliver on Its ROI Promises?
February 21st 2019 16:00:00 PM
Does your warehouse management software deliver on its ROI promises? How about inventory barcoding software—are you getting your money’s worth?
Although quantifying the exact nature of warehouse management software and inventory barcoding software ROI may be difficult, it’s not hard to see how such software saves time and money. And saving time and money leads to improved ROI. Inbound Logistics came up with several ways in which warehouse management software actually saves on wear and tear in your warehouse, for instance, which translates into long-term cost savings.
Some of the ways in which warehouse management software boosts ROI include:
- Efficient routing within the warehouse: Before the implementation of WMS systems, warehouse workers often wandered the aisles looking for the right bin, shelf, or part SKU. Now, with new systems, they can tap a button on a smartphone and call up the exact stock location of an item. If the item is moved during the day, the system updates, and they can still find it fast. It improves warehouse efficiency.
- Consolidated picking: Wave picking, batch picking, and zero bin cycle counts all consolidate picking times and save effort.
- Reducing drop points: Inventory barcode scanners and warehouse management systems can reduce the number of drop points within the warehouse.
Each improvement brought about by warehouse management software leads to improved efficiencies, which in turn leads to cost and time savings. It all adds up to your ROI and to greater profitability for your company.
When Can We See an ROI?
Although every company is different, most companies see a return on their investment in new inventory and warehouse management software within a short amount of time. Typically, you can see improvements within three to six months, according to Inbound Logistics. And if you’re implementing a brand new system and never had a system before? Within 12 to 18 months, you’ll see a quantifiable difference.
If it’s time to implement better warehouse and inventory control solutions, let’s talk. Scanco has helped hundreds of manufacturers improve their ROI using smart warehouse and inventory management technology. Contact Scanco online or give us a call at (330) 645-9959 to make an appointment for your consultation.