Future of Warehouse Management

Mar 07 2022

Build The Future of Warehouse Management

Warehousing is no longer a single team or organization any longer. You need a team that understands the future of warehouse management. Click to talk to our team about building a better warehouse for you and your team today. 

Learn More

Future of Warehouse Management

Warehouses are used to store commodities after they have been manufactured, before they are dispatched for sale or to other establishments further down the line, and afterwards if the goods are retrieved. Businesses utilize these facilities to keep goods before shipping to customers or dispatching them other locations for sale where they are redistributed or sold for retail. For this reason, warehouses are significant assets for business enterprises and warehouse transformation is key to ensuring logistic processes flow smoothly. The future of warehouses is promising and contains a lot of room for growth and innovation. Warehouses must ramp up to keep up with the demands of a smart, efficient, and automated warehouse with the introduction of always-on e-commerce, the accompanying need for quicker replies, and a need to handle the increasing number of stores keeping units with minimal mistakes. A survey of 400 top transport executives that was published by Forbes Insights in September 2018 revealed that more than two-thirds of respondents were of the opinion that significant changes in the logistics industry were required, or else warehouses would be unable to meet the increased demand for cargo deliveries. An expected spike in the preference for digital transformation in the next decade will result in a paradigm shift in the way warehouse's function. The impact of technology on warehousing cannot be understated and future warehouses will be significantly more modern and efficient as a result of harnessing technological advancements across different sectors. Some features of the digital warehouse look promising in particular. These elements will bring warehouse digitization to fruition. They include warehouse mobility solutions, autonomous guided vehicles, smart analytics and machine learning, the interconnection of people and warehouse technology through wearables, automation and robots, and real-time inventory management. The future of warehouse management is largely dependent on warehouse digitalization and innovative warehouse design both which are largely discussed in this article. Digital warehouse management systems are also discussed towards the end of the article.

Warehouse Digitalization

Real-Time Data Gathering and Increased Interconnectivity- Future warehouse and supply chain systems will have levels of transparency that have not been seen before. In terms of ensuring transparency at all layers, blockchain technology is revolutionary. This technology enables the quick and safe dissemination of data, making real-time data transmission for warehouses traceable and accountable. Without the Internet of Things (IoT), blockchain would be incomplete. The Internet of Things (IoT) is a digitally enabled system of connected sensory sensors (for example, temperature, humidity, and location). These devices can gather and send data in real time with no need for human intervention. These innovations, when combined, provide real-time insight and seamless communication across operations and partners, resulting in a sophisticated, efficient, and successful business model.

Warehouse Mobility Solutions-The shift from fixed pc workstations to mobile devices such as smartphones represents a significant advancement in warehouse efficiency. Today's apps and technologies significantly minimize walking time and enable warehouse workers to work and access data both inside and outside warehouses. Besides reducing walk time and increasing efficiency, mobile technology also increases the accuracy rates of inventory entries as compared to manual entry of data.

Autonomous Guided Vehicles (AGVs), as possible forklift replacements, have the potential to transform cargo transportation both within and outside warehouses. AGVs can move goods around the warehouse, speed up the picking process, and help with managing inventory. Motordor Intelligence predicts that the value of the AGV industry will reach USD 14.18 billion by 2026. The warehouse industry is also set to be disrupted by drones. When it comes to tracing cargo, cycle counting, completing inventory, and executing stock-taking procedures, they are both safe and cost-effective.

Warehouses are anticipated to have a significant part in enhancing customer satisfaction, accurately forecasting demand for products, and enabling best use of available resources. To help with this, predictive analytics are employed. Predictive analytics analyzes previous trends and makes predictions about the future using statistical methods such as predictive modeling, and data mining and use of big data. When used with artificial intelligence (AI), it becomes incredibly valuable for recommending ideal inventory levels, refilling inventory, improving operating efficiency, and the general optimization of warehouses.

The People-Technology Connection- One of the most amazing qualities of a digitized contemporary warehouse is the relationship between humans and warehouse technology. This is made feasible through the use of wearables which regardless of their location or circumstances, enable warehouse clerks and administrators to gain real-time access to all kinds of data. Wearables are small computers that may be attached to the head, wrist, or any other portion of the body. Augmented reality, and voice-enabled devices, smart glasses are growing more appealing by the day as a way of interacting with systems effectively. As a result, there will be better information flow, increased transparency, fewer mistake occurrences, improved safety, and higher service levels at reduced operational costs.

Warehouse Automation and Robotics- Warehouse automation is inevitable, and it will undoubtedly play a role in the digital transformation of the future. Robotics and automation can reduce the time and cost of performing manual activities, resulting in enhanced efficiency. According to research undertaken by MHI in 2020 to better understand into supply chain technology innovation, 67 percent of those surveyed agree that automation and robotics have the potential to impact the business and generate an added value. Warehouses are unlikely to exist in the future if they do not use automation.

Real-time inventory management (RTIM) is a software-based method of tracking sales of goods in real time. It gives the organization a clear understanding of inventory status, allowing it to respond immediately to demands of the supply chain. Real time inventory management is achieved through, inventory software, barcode scanners, GPS and RFID among other tools.

Warehouses

A warehouse is a structure used to store large quantities of produce or goods (wares) for business reasons. Warehouses come in various types including public warehouses, private warehouses, co-operative warehouses and distribution centres. Many factors have influenced the built form of warehouse facilities across time, including materials, technology, locations, and cultures. When broken down, warehouse operations include a wide range of procedures, including receipt of goods, organization, fulfilment of orders and delivery. These operations include receiving goods, cross-docking, organization and storage of inventory, providing asset tracking solutions, selection of transport routes, maintenance of inventory and the warehouse facility itself, development of warehouse infrastructure such as racking designs. A warehouse manager oversees these operations and ensures warehouse efficiency is achieved. The warehouse efficiency definition is a warehouse that streamlines its operations, maximizes space and ensures productivity is achieved. For these reasons, warehouses provide several advantages including protection of goods, improved inventory accuracy, reduced overhead cost and a better flow of good between stakeholders on the supply chain. Efficient warehouses usually employ some form of warehouse technology and in today's digital age, these warehouses use smart warehouse technology. To achieve a smart warehouse, warehouses may use real time inventory management, warehouse management software, autonomous guided vehicles and real time data gathering technology.

To carry out their operations efficiently, most warehouses have warehouse management systems. A warehouse management system is a software program that manages inventories and monitors supply chain fulfillment from the processing facility to the store shelves. Warehouse management systems help businesses optimize both space and labor expenditure, as well as equipment expenditures, by controlling and coordinating resource utilization and material mobility. Warehouse management systems are designed to suit the needs of a supply chain network consisting of manufacturing, delivery, and service businesses. Being able to complete every purchase as quickly as feasible is an important part of the online retail scene. To do so, business enterprises need a warehouse management system that can tell them the location of commodities in the warehouse, reducing latency in the ordering process, processing costs, and mistakes.

Warehouses near me

Indianapolis, Indiana, is becoming a burgeoning commercial hub. The central location of the city makes it an ideal site for distribution facilities for companies seeking supply chain expansion. The warehousing industry is also experiencing immense growth as more companies outsource storage facilities to warehouses who can keep up with warehouse technology trends and provide good services. When making a "warehouses near me" search, it is important to consider warehouse management systems a company uses.

A warehouse management system can assist the business in expediting order processing and keeping track of product performance. Management can uncover new methods to improve warehouse setups when they can monitor which items are moving from the warehouse the most frequently. Types of warehouse management systems can be categorized as either; integrated or standalone and on-premises or cloud based. The warehouse management system receives orders and manages the order fulfillment process, and goods receipt and delivery. It is a lot easier to keep record of fast-moving orders when everything is integrated into one system. A standalone warehouse management system is primarily used for warehouse management. As a result, other areas of your organization, such as inventory or bookkeeping, may have restricted functionality on this system. This form of WMS usually has extensive reporting tools that can assist your business level up their warehouse because it is designed for warehouse management specifically. Overall, the priorities of a business determine the type of WMS they pick. The business is responsible for hosting and managing both the software and hardware related to an on-premises WMS. Here, security and uptime are in control of the business, but this is accompanied by a high initial cost for purchasing all of the components. In contrast, cloud-based WMS are operated remotely by a vendor who is in charge of maintenance.

For companies who opt to have in-house systems and have a warehouse management system for small business, they may opt for software such as Zoho Inventory, Fishbowl Warehouse and Veeqo for a start.