For many retailers, improving operational efficiency and labor productivity has become an important focus. Enhanced intelligence, scalability, and organization-wide synchronization can help retailers achieve these goals. Listed below are 5 tools and insights for optimizing a retailer’s supply chain to create a more profitable, effective business:
- Retailers’ increased demand for greater warehouse management capabilities has been met by improved manufacturing and rapid shipping methods. A retailer’s Warehouse Management System can increase storage capacity, improve labor efficiency and optimize workflows with technology such as Directed Put Away. Directed Put Away optimally stores product based on factors such as sales velocity, size, and weight.
- Advancements in tracking software increase transparency of information along the supply chain. This includes tracking inventory on-site and out on customer deliveries. With intelligent logistical scheduling, retailers are able to dynamically plan for optimized routing of outbound merchandise using business rules to determine route capacities at the point of sale. These include dollar value, number of stops, cubic volume, and more.
- Enterprise Resource Planning (ERP) merchandise replenishment processes have greatly improved the retailer’s ability to have the right items in the warehouse and available for sale at the right time. Using replenishment enables retailers to maintain ideal stock levels based on projected customer demand and automatically trigger reorder actions.
- Synchronized supply chain advancements allow retailers to precisely calculate Available to Promise Dates for customers. In addition to meeting customer expectations, this directly influences product placement in the warehouse thus increasing labor efficiency and improving profits.
- Implementing an ERP software solution is an investment in efficiency and growth. As information is collected and processed through increased barcode capabilities, ERP software systems provide retailers with more accurate projections and control of inventory. Advanced processing capabilities allow ERP software to scale as single store retailers begin to grow, due to intelligent planning of inventory that drives profitably.