Why You Should Be Using Multi-Warehouse Inventory Management
If you are looking to implement multi-warehouse inventory management, there are strategies and tools you can use to handle the logistics involved and save on expenses. One of the most important tools you need is cloud-based multiple warehouse inventory control software like Finale Inventory.
Here are some of the most important things you need to know when you’re planning to manage inventory in multiple warehouses.
What Is Multiple Warehouse Inventory Software?
A multi-warehouse inventory management software system enables you to keep track of inventory levels in different warehouses in real-time. You’ll be able to manage orders for each of your warehouses from the same location.
It also helps monitor the delivery of new stock and integrate your warehouse management with your accounting system. The system automatically chooses the closest warehouse to fulfill orders, so you can save the cost of shipping and meet customer demands quickly.
Before we delve into how to manage multi-warehouse operations, here are the advantages of this type of system.
Benefits of Multi-Warehouse Inventory Management Software
With an efficient inventory management system, you can enjoy the full benefits of a distributed warehousing system and keep scaling up your operations as your business grows. Here are some of the advantages of a multi-warehouse inventory system:
- Low labor and transport costs: Products will be kept in a warehouse where they can be sent to the customer within a short time. This reduces the cost of shipping and the labor required to move the goods to the customer.
- Backup for any unfortunate event: Sometimes a warehouse runs out of stock due to a natural disaster or logistic issues. Having multiple warehouses makes it easy to ship the product from another location without keeping your customers waiting.
- Exceptional customer service: When you run more than one warehouse, you can fulfill orders faster than your competitors who have just one. Customers will be more likely to spread the word about your excellent service and prompt delivery — which can lead to an increase in sales.
- Faster delivery options: As soon as you have a delivery system that can fulfill orders rapidly, you can offer discounts and incentives to customers who want same-day or two-day delivery. This will encourage more customers to buy since they’ll enjoy the satisfaction of quick delivery.
How to Manage Multiple Warehouse’s Inventory
To manage your inventory in different warehouses, you’ll need to do the following:
- Choose the right location: Make sure you choose a location that helps you reduce cost and fulfill orders faster.
- Use an efficient warehouse layout: Arrange the shelves, pallets, and pathways so that inventory is organized and can easily be moved into and out of the warehouse.
- Use the best tools to keep the inventory synchronized across warehouses: Use inventory management software like Finale Inventory. This cloud-based solution automates and speeds up inventory management processes including:
- Monitoring stock levels
- Moving products in between warehouses
- Connecting your accounting and eCommerce website together
- Creating and tracking purchase orders
- Providing robust analytics and reports
- Forecasting and calculating economic order quantities for each product
Discover If Finale Inventory Is the Right Fit for Your Multiple Warehouse Management
Finale Inventory is a proven multiple warehouse management system with many high ratings and positive reviews online. To discover the power of this software, sign up for your 14-day free trial today. You can also call us at 888-792-8891. We’re available 24/7 to answer your questions.