Every Retailer Needs To Look For This In Their Online Invent

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Every Retailer Needs To Look For This In Their Online Invent
20 Nov 2017

Warehouse management systems (WMS) often have many different types of online inventory reports that help you track your inventory. Inventory reports are crucial to managing your business because they provide specific information on your key KPI’s and metrics, how your inventory is doing, and where errors might have occurred all in one space. One of the best ways to know that your WMS is right for you is that your inventory reports have all the essential information all in one place. If they are missing key pieces of information, you could find yourself having to sift through your system for hours — or worse, or pull together a new one from scratch. Want to save all that time and energy? Then next time you look at your WMS inventory report, make sure it includes these key components:

Dashboard Reports

Dashboard reports are great because they provide key summary indicators of how your online inventory is doing at any given time. Make sure these five key components are included in your WMS dashboard:

Active and Pending Orders

It is essential to know how many of your orders have been downloaded and not shipped yet, or are currently active. This information affects your company’s ability to adequately meet the needs of your customers. For example, if you don’t know which of your orders are pending, you can’t help your customers if they ask about their order!

Active receipts

Active receipts are important to include in online inventory reports because it shows how many active purchase orders are pending to be received and how many will arrive in your warehouse. You can use this information to calculate future inventory forecasts, such as your availability to promise (ATP) levels.

Single-Item orders and Multi-Item Orders

This is useful to know so that you can see how many orders of each type are being processed. This will tell you how long it might take before they’re shipped. Single and multi-item orders have different picking and packing process flows in the warehouse — for example, single-item orders can be picked using batch picking, whereas multi-item orders can be picked using a cluster batch picking or order-based picking.

Space optimization

Make sure you have this included in your online inventory report to be aware of how many locations are empty in your warehouse that is ready to receive incoming items or products. If you don’t know how much space you have left, you could end up with an inventory surplus or shortage.

How Many Tasks Are Pending

Knowing how many warehouse tasks are pending is important because it shows where your shipment progress is at any given time at in the warehouse.

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