We at Chowgule Brothers aim at providing efficient, effective and reliable supply chain solutions by building a strong relationship based on trust, commitment and work ethic. All this is possible with us only since we have a seamless and effective mechanism of warehousing and inventory management in our line of business. The importance of warehouse and inventory in logistics management is tremendous. It has great economic and service benefits to both businesses and customers. This system saves money and also can boost the productivity of the business.
The result of poor inventory mechanisms in logistics companies is late shipments, delayed order processing and poor customer experience. With the setting up of warehouses, the location of all goods becomes centralised. This helps in effective tracking and management of the inventory. It helps to maintain a reliable relationship with customers as there will not be any delays in shipment due to complete control of stock in the warehouse.
As far as packing and processing go at warehouses you will find the necessary equipment that helps to store, move, package and process orders of your customers. Technological advancements have resulted in mechanisms like pallet racks, loading docks and packing materials which are all found in one place under the roof of a warehouse.
In today’s fast-paced world, over 60% of consumers wish to know the estimated time of delivery of their goods. If the speed of delivery is fast, consider yourself assured of getting clients. Speed of delivery is one of the main factors that is taken into consideration while choosing a transportation service. When you are into shipping and logistics you cannot afford to delay with shipments, if you want to maintain high customer satisfaction levels you need be prompt in your delivery. With the use of warehouses, the timely delivery of goods is assured. It reduces errors and damages in the period of storage and transit. It minimises the risk of theft during the entire process.
Another drawback in this line of business is the fluctuation in prices. Due to various factors like policies of the government, rates of employment, customer’s income, climatic conditions and so on the prices for services keep changing. Setting up of warehouses and inventory management, however, change the scenario and stabilises prices. This happens as in a warehouse you can store products for a later date and sell it as per rate and demand. This helps in reducing revenue losses. Products that sell by season can be stored for a long time in the warehouse and can be brought out into the market when the demand for them is high.
As far as risk management goes the whole concept of warehouse and having a decent inventory system in place helps is safe storage of perishable goods. Depending on the type of goods in transit you can have a warehouse that is equipped with refrigerators, freezers and optimal temperature control. Certain types of goods like artwork, candles, food and medications need to be stored at a certain temperature to prevent spoilage and changes in colour and texture. If you have a warehouse with such amenities you can increase the shelf life of the products. Once you have a warehouse you will definitely insure it. This helps you receive compensation during theft, fire or damage to goods.
Warehouse and inventory in logistics management is a must in the world that we live in today. Customer satisfaction and efficiency of business is the driving factor to increase customer base and anyone who does not move in this direction will put his entire business at risk.
