Ever wondered exactly how stock management software impacts your warehouse operation? Having the right stock management software and system means you can easily and accurately track stock levels, monitor stock levels, and automate reporting.
One area of technology adoption that has revolutionized warehouse management is stock management software (WMS).
With a powerful WMS you have access to stock management software features to
- accurately track and view up to date stock records
- optimize operations based on data
- inform restock orders and set timely reminders for stock replenishment
- delight customers with easy to access, up to date reports
- and much more.
When do you need to use stock management software?
Regardless of your warehouse size, your inventory, or customers — the need for accurate stock level reporting, stock tracking, and stock management is essential. This starts with powerful stock management software.
Logistics businesses work in the management of stock; from transport to storage, and everything in between. Across all levels of the supply chain; from single warehouses to 3PLs, multi-warehouses, or warehouse and transport providers —it is essential to maintain oversight of your stock levels, stock location, stock movement, and have access to accurate stock history reports at any moment.
Why is stock management software so important? Great stock management allows you to manage your warehouse space and plan for new orders, track stock levels and status at all times, and identify what stock requires replenishing, track stock throughout warehouse movement and operations, and reduce the likelihood of picking mistakes or lost inventory.
Which is why, if there is just one piece of technology adoption you should take on for your warehouse this quarter, it should be stock management software.
What is WMS stock management software
CartonCloud’s warehouse management system incorporates a free stock management system, integrated within your wider warehouse management.
We've made our software easy to implement and onboard — so you can get up and running, and start seeing the benefits faster!
Why use stock management software? stock management software improves your overall accuracy of stock management, giving you greater transparency with client reporting, greater ability to manage stock and storage locations, reduce the likelihood of picking mistakes and ability to automate more efficient workflows.
Using CartonCloud's warehouse management system, you can seamlessly manage stock, and simplify other tasks like automating client inventory stock reports..
Benefits of great stock management software
Finding the right stock management system can allow you to optimize multiple areas across your business, with customized reporting.
Create a detailed stock report in seconds, with CartonCloud’s WMS, and run specific reports to keep track of stock movement, storage, and status..
Keep your customers informed with accurate stock reporting
Track stock movements at every moment and run customized reports at any time, to provide complete transparency for clients. Stock movement reports show historical data for stock levels, showing order intake, movement within the warehouse, orders and dispatch, so you can see exact levels and historical movement at any time.
Optimize your warehouse space with up to date data
You should be using stock management software to increase efficiency and accuracy, and to manage the stock in your warehouse for optimized storage with greater transparency.
Within the CartonCloud stock and product setup, you can assign specific logic to certain products, to determine the order stock should leave the warehouse.
This can be set to
- FIFO (First in, First out)
- FEFO (First Expiry, First Out)
- or FILO (First in, Last Out) — depending on the storage layout and stock you have in your warehouse.
You can also assign LEO (Location Efficiency Only), where products will be selected for picking based on their location efficiency, and selection order that is the most efficient for wave picking.
Enhance order picking with locked selection criteria
In short, this feature allows you to lock in sale order selection requirements, to ensure the items picked for your sales order are exactly what you need them to be.
CartonCloud’s inbuilt stock management system allows you to choose a ‘lock option’ for stock selection, preventing items from being picked that do not conform with the selected criteria. For example, in selecting stock based on First Expire, First Out in a sales order for perishable goods, you can lock the expiry date selection requirement field on the sales order, preventing items outside of that date range to be picked for the order.
Invite customers to run reports directly from their customer dashboard
Save yourself admin time with CartonCloud’s stock management system, by allowing your customers to log into the system via a customer dashboard, to access their own stock information. Customers have the ability to run their own reports to identify when stock needs to be replenished and to view sales orders.
Get ahead of the competition with the right stock management software
Choosing the right cloud-based WMS for your business gives you greater efficiency, faster reporting, and more accurate stock oversight — meaning you can do more, for less.
Your stock management system will makes stock data entry easier while also streamlining the entire warehouse procedure from intake to dispatch — and allow you to provide better reporting and service for your customers.
The ability to have real-time oversight of the stock in your warehouse, including details such as product expiry dates, damage, stock location, and movement history — and to pull this information into customized reports at any time, provides unrivalled oversight on your warehouse operations and for your clients.
You can create more space through automated intake and dispatch logic, allowing you to assign storage location based on stock access requirements and dispatch dates.
Ultimately, every action in your warehouse is impacted by the way you manage your stock. Admin time, picking efficiency, stock tracking and inventory loss, storage space optimization, dispatch, and customer needs. If there is one technology adoption for your warehouse this quarter, it should be implementing your stock management system. Get ahead of the competition, boost efficiency, and increase your customer service.
See how CartonCloud’s WMS improves stock management accuracy in a real warehouse.
CartonCloud’s warehouse management system turned Iannace's chilled freight and warehouse business on its head, increasing accuracy beyond their expectations and providing up-to-date, real-time stock management reporting at the touch of a button.
From losing almost a box per day — they now have such efficient stock oversight that if a box goes missing, they call a conference discussion to look into how this might happen. There's no substitute for accuracy when you add up the benefits to your company and greater customer service you can offer.
Want to know more?
Get in touch with the CartonCloud team for a free demo and to find out more about how CartonCloud’s warehouse management system will streamline your whole operation and simplify stok management.
*Page updated March 2023