Let’s look at why stock management software will be game changing for your operation, allowing you to plan for new orders, track stock levels and their statuses.
If there’s one area of technology adoption that has revolutionised warehouse management, it is stock management software.
No matter if you’re a single warehouse, 3PL, multi warehouse, or warehouse and transport provider… It's essential to have eyes on your stock levels, location, movement and history at any moment. In logistics, our main service is management of stock, from transport to storage, and everything in between.
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.
WMS stock management software
CartonCloud’s warehouse management system incorporates a free stock management system, integrated within your wider warehouse management.
Easy to install to your current platform, easy to learn and integrate into daily use, 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.
Best of all, it’s already included in your warehouse management system, which means it’s fully integrated to other functions and management actions, like client inventory stock reports and automated stock selection to select outgoing stock.
Take a look at how stock management software in Australia’s logistics scene is enhancing every aspect of our business.
The flow-on effect of great stock management
A solution that will optimise areas across your business.
Have an eye on your stock at all times with customised reporting
Run specific reports to keep track of stock movement, storage and status. For example, if you want to run a report that shows you all the stock that is damaged in your warehouse, you can. Check out this YouTube video on how to create a detailed stock report in seconds, with CartonCloud’s WMS.
Field client questions with stock movement reports
Track stock movements at every moment and run customised 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.
Optimise your space with FIFO (first in, first out)
Within the CartonCloud stock and product set up, 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 optimised 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 your customers to run their own reports
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 replenishing, and to view sales orders.
Get ahead of the competition, with greater efficiency, faster reporting and more accurate stock oversight.
Your stock management system not only makes stock data entry easier, but it streamlines the entire warehouse procedure, from intake to dispatch, making your warehouse more efficient and improving customer service to your clients.
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 customised reports at any time, provides unrivalled oversight on your warehouse operations and for your clients.
Through applying automated logic to product details and sales orders allows you to ensure efficiency and accuracy with every order and dispatch, and to manage the stock in your warehouse for optimised storage.
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 optimisation, 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.
Want to see CartonCloud’s Stock Management System in a real warehouse?
This short clip shows how CartonCloud’s warehouse management system turned business on its head for one warehouse. They went from losing on average around one box per day to having such efficient stock oversight that they now call a conference discussion for any lost box.
Warehouses are a busy place, every moment something is changing. There are orders coming in and out, stock moving, intake, dispatch and input of this ever changing data can take hours. Utilising a stock management system within your warehouse management will change the way you do business.
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.