In the past, we conveyed some of the important parts of a new WMS decision in this video:
However, our latest guide aims to dive even deeper and take you through the main steps of finding, purchasing and implementing a warehouse management system, specifically for retail and wholesale businesses.
By reading it, you’ll know the answers to all of these crucial questions:
- When should you consider purchasing a warehouse management system?
- What benefits will you see from implementing one?
- What warehouse management features should you look out for?
- What questions should you ask WMS vendors?
- What do you need to know before implementing a WMS?
- What kind of costs are associated with a new system?
- Which additional fulfillment and warehousing apps will you find useful?
But how do you know if you need a new warehouse management system?
Typically, retail and wholesale businesses look to streamline their warehouse processes once they’re regularly seeing 200-500 customer orders per day.
However, you’ll know when you really need a warehouse management system when you’re seeing any combination of these challenges and pain points:
- You don’t know how much inventory you have in stock, on hand, reserved to orders or waiting on purchase order
- You’re not convinced your systems data matches what’s actually in your warehouse
- You’re selling products you don’t have in stock
- You have difficulty training new staff on systems and processes
- You’re delivering poor customer experiences due to mispicks or slow delivery
- You’re spending too much time, energy, and money on customer returns
- You need to hire extra employees to handle sales peaks and popular shopping events
- You’re spending too much time on admin and double data entry
- You’re not as efficient as you’d like to be
If any of these points resonate with you, you’re not alone.
A study by Radial, in partnership with EKN Research, found that 40% of retailers struggle with automating order capture and processing, integrating inventory, and standardizing order management from different types across channels.
What the study also established is that this means the average cost for a company to fulfill an order is a staggering 70% of the average order value. That’s just too much time, energy and cost associated with processes that can easily be streamlined with reliable systems in place like a warehouse management system.
Our latest guide was written and designed for those of you looking to make this change within your business. Download it now!