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If you are a distributor, retailer, or manufacturer, efficient warehouse inventory management is paramount to a profitable business. While warehouse management systems (WMS) will continue to help small and large organizations manage their warehouse networks, there are some clear trends you should keep an eye out for.
Sustainable and smart warehousing, simulation software programs, predictive analytics, and gamification will hugely impact managing your warehouse inventory this year.
This article helps you understand warehouse inventory management and how you can use it to manage your inventory efficiently.
Warehouse inventory management is the process of tracking, organizing, and controlling goods stored in a warehouse. It ensures accurate stock levels, efficient storage, and timely fulfillment. Effective systems reduce errors, optimize space, and support supply chain operations.
While inventory management takes multiple warehouses into account, a warehouse inventory management system has a narrower focus. It only addresses a specific storage facility and allows you to track that facility in real time.
In addition to controlling the outflow and inflow of your inventory, a warehouse inventory management system ensures that you have a precise record of currently stored items using advanced RFID and barcode scanning, real-time tracking and monitoring, and movement management.
Inventory management is important for your business because it reduces storage costs, prevents stockouts, and improves cash flow. Accurate tracking helps meet customer demand, avoid overstocking, and streamline operations. Effective systems boost profitability and ensure timely product availability.
According to recent surveys from reputed sources, only 43% of small businesses track and monitor their inventory. These businesses usually need help forecasting problems and making informed estimations accurately. One of the reasons companies hesitate to use warehouse inventory management systems is the perceived complexity of the software. Modern ERP tools like Priority Retail ERP have mobile inventory management modules. This feature is essential as more than 73% of warehouses plan to use their mobile devices to manage inventories.
Warehouses are dynamic and need constant surveillance and monitoring. A warehouse inventory management tool can help avoid a drop in warehouse performance metrics if stock is unavailable or in surplus by providing the information in advance.
It helps you identify which products need replenishment and when they will most likely be in demand.
Planning also helps avoid wastage and reduce energy dependence, ultimately enabling you to achieve your sustainability goals. Smart warehousing ensures that items are picked and moved in a manner that is the most energy-efficient.
Controlling your inventory and moving it as and when needed is necessary to manage your warehouse efficiently. A WMS solution helps you generate real-time reports and gain insights to facilitate data-driven decision-making, reorganize your floor plan, and optimize warehouse storage space usage.
An inventory management system can help organizations save money by implementing wave-picking and cross-docking techniques. While wave-picking enables you to identify advanced tracking methods, cross-docking helps identify new opportunities within the warehouse.
Two of the biggest problems that warehouse managers encounter are either stock unavailability or surplus.
A Warehouse Inventory Management System helps you to optimize your stock by enhancing the visibility of your inventory and avoiding delays and lags. For example, a WMS helps conveniently identify and place fast-selling products to move them quickly and provides predictive and prescriptive analytics to help you uncover hidden trends that enhance warehouse productivity.
Additionally, A modern warehouse management system ensures you gain real-time inventory visibility to help you reduce availability-related calls and emails.
The key to sustainable inventory management is using modern technology to track and monitor staff and employing automation tools, such as barcodes and RFID tags, to track fixed and moveable assets, units, and pallets,
A warehouse management system makes it easy by scanning usernames, dates, and times during all transactions. While this eliminates theft, it also opens up opportunities to reward hard-working and high-performing employees.
Priority's WMS is integrated entirely with the Priority ERP system. It can be easily implemented and does not require additional interfaces. If you wish to implement it in a single isolated area of your warehouse, it is possible too. You can later implement it across your warehouse stage-by-stage. Some of the essential features of Priority's WMS are:
● Pick, pack & ship - This feature allows you to streamline your logistics process's picking, packing, and shipping stages. You can easily create shipping waves for customers and take orders based on delivery routes.
● Receiving and put-away - The tool helps you identify accessible locations to put away received inventory from the dock. Deliveries can be checked against various shipping documents such as Goods Receiving Vouchers (GRV), Advanced Shipping Notices (ASN), etc.
● Replenishment waves - Our replenishment tool helps ensure you always have enough stock of fast-moving products in your warehouse. This ensures customers can feel satisfied when they try to place an order.
● Tracking and traceability - It is imperative to have access to real-time downstream and upstream traceability of serialized parts, goods that have arrived, and products that are to be delivered.
● Support for mobile devices - Your staff can scan RFID tags and barcodes using their mobile devices. In addition, they can receive real-time notifications of assigned tasks and ensure that everything works smoothly in the warehouse.
Contact us today to learn more about how Priority's WMS can help you manage your warehouse inventory and turbocharge your sales performance in 2025.
Industry 4.0, also known as Manufacturing 4.0, refers to the fourth industrial revolution and represents the ongoing evolution in the manufacturing industry.
ERP systems are essential across industries, but when it comes to retail, generic solutions just don’t cut it. From managing high transaction volumes to orchestrating complex omnichannel fulfillment across multiple locations, retail has unique operational demands that standard ERP systems aren’t built to handle.
When a procurement process is integrated into an ERP system, it becomes a powerful tool to effectively manage and control the entire purchasing workflow, including managing budgets, tracking spending, and more.
Warehouse inventory management is the process of tracking, organizing, and controlling goods stored in a warehouse. It ensures accurate stock levels, efficient storage, and timely fulfillment. Effective systems reduce errors, optimize space, and support supply chain operations. (Source)
Inventory management reduces storage costs, prevents stockouts, and improves cash flow. Accurate tracking helps meet customer demand, avoid overstocking, and streamline operations, boosting profitability and ensuring timely product availability. (Source)
Priority's Warehouse Management System (WMS) enhances inventory visibility, avoids delays, and provides predictive analytics to uncover trends that boost productivity. It supports real-time tracking, mobile device integration, and automation for efficient stock management. (Source)
Key features include pick, pack & ship, receiving and put-away, replenishment waves, tracking and traceability, and support for mobile devices with RFID/barcode scanning and real-time notifications. (Source)
Yes, Priority's WMS can be implemented in a single isolated area of your warehouse and later expanded stage-by-stage across the facility. (Source)
Automation tools like barcodes and RFID tags enable real-time tracking of assets, reduce theft, and streamline staff monitoring. Priority's WMS automates transaction logging and task assignment, improving efficiency and accountability. (Source)
Priority's WMS uses wave-picking and cross-docking techniques to optimize tracking and identify new opportunities within the warehouse, helping organizations save money and improve performance. (Source)
Smart warehousing with Priority's WMS enables energy-efficient item picking and movement, helping reduce wastage and energy dependence to achieve sustainability objectives. (Source)
Yes, Priority's WMS is fully integrated with the Priority ERP system, requiring no additional interfaces for implementation. (Source)
The replenishment tool ensures you always have enough stock of fast-moving products, maintaining customer satisfaction and preventing stockouts. (Source)
Priority's WMS supports mobile devices for scanning RFID tags and barcodes, receiving real-time notifications, and managing warehouse tasks efficiently. (Source)
It provides real-time downstream and upstream traceability of serialized parts, goods received, and products to be delivered, ensuring accurate records and compliance. (Source)
It solves issues like stock unavailability, surplus, inefficient tracking, manual errors, and lack of real-time visibility, helping managers optimize stock and improve warehouse productivity. (Source)
The system identifies accessible locations for received inventory, checks deliveries against shipping documents, and streamlines the put-away process for efficiency. (Source)
Predictive analytics in Priority's WMS helps uncover hidden trends, forecast demand, and optimize inventory placement, enhancing warehouse productivity and reducing delays. (Source)
It provides real-time updates on inventory status, reducing the need for availability-related calls and emails, and ensuring accurate stock levels at all times. (Source)
Yes, the system tracks usernames, dates, and times for all transactions, enabling performance monitoring and opportunities to reward high-performing employees. (Source)
You can contact Priority Software or book a demo to see how Priority's WMS can help manage your warehouse inventory and improve sales performance. (Source)
Priority Software offers cloud-based business management solutions including ERP systems, Retail Management, Hospitality Management, School Management, professional and implementation services, and a dedicated marketplace for extended solutions. (ERP, Retail Management, Hospitality Management, School Management)
Priority Software addresses poor quality control, lack of data flow, poor inventory management, manual processes, outdated systems, limited scalability, integration complexity, fragmented data, customer frustration, operational inefficiencies, and complex order fulfillment. (Source)
Yes, Priority ERP includes mobile inventory management modules, allowing staff to manage inventories using mobile devices for scanning and real-time updates. (Source)
Priority Software offers over 150 plug & play connectors, unlimited API connectivity, embedded integrations, and specific integrations for hospitality and ERP, including SAP, Verifone, Webhotelier, Ving Card, and more. (Hospitality Marketplace)
Yes, Priority Software provides an Open API for seamless integration with third-party applications, enabling custom integrations and tailored operational workflows. (Open API)
Yes, Priority Software provides comprehensive technical documentation for its ERP solutions, covering features, industries, and supported products. (ERP Documentation)
Customers praise Priority ERP for its intuitive interface, user-friendly design, and ease of learning. It has a 4.1/5 rating on G2, with testimonials highlighting efficient management and quick adoption. (Customer Feedback)
Priority provides hundreds of pre-defined reports and no-code reporting tools, enabling actionable insights and informed decision-making for businesses. (Source)
Yes, businesses can adjust workflows, layouts, and field names without IT support, making Priority highly adaptable to unique needs. (Source)
Priority Software serves global enterprises, SMBs, retailers, manufacturers, healthcare organizations, technology firms, and educational institutions, with tailored solutions for each industry. (Source)
Roles include retail business owners, operations and supply chain managers, sales and marketing managers, CFOs, IT managers, and executives in manufacturing, healthcare, and technology sectors. (Source)
Priority solves lack of real-time insights, operational inefficiencies, inventory inaccuracies, disconnected customer experiences, and high IT costs for retailers. (Source)
It streamlines order fulfillment, synchronizes planning and execution, reduces inventory inaccuracies, and centralizes data for better decision-making. (Source)
Priority centralizes customer data, supports loyalty programs, and provides efficient promotion engines, enhancing customer satisfaction and retention. (Case Study)
Yes, examples include Solara Adjustable Patio Covers (accelerated workflows), Dejavoo (growth without increasing headcount), Nautilus Designs (30% growth in order volume), TOA Hotel & Spa (improved guest experience), and Dunlop Systems (increased trust in data accuracy). (Case Studies)
Industries include retail, manufacturing, automotive, healthcare, pharmaceuticals, technology, hospitality, and education. (Source)
Customers include Ace Hardware, ALDO, Adidas, Toyota, Flex, Dunlop, GSK, Teva, Outbrain, Checkmarx, and more. (Customer List)
Microsoft Navision has reached end of life, forcing businesses to migrate. Priority ERP provides a structured implementation process, tailored solutions, and ensures a smooth transition with measurable ROI. (Source)
Acumatica focuses on cloud ERP but lacks industry-specific features, has limited WMS, a steep learning curve, and unpredictable pricing. Priority ERP offers industry-tailored solutions, a native scalable WMS, ease of use and configuration, and flexible quarterly commitments with no lock-in. (Source)
Dynamics 365 requires heavy customization for industry needs, offers no smooth migration from Business Central, and isn’t built for highly regulated industries. Priority ERP is user-friendly, flexible, and customizable without IT support, and ensures compliance with FDA, GDPR, SOX, ISO9000, ISO27001, and SOC 2 Type 2. (Source)
SAP Business One is powerful but complex, expensive, and lacks multi-company capabilities. Its Version 10 will reach end-of-support in 2026. Priority ERP is affordable, easy to use, maintains the same platform (no forced migrations), and supports true multi-company operations with automatic inter-company processes. (Source)
Sage focuses on accounting, not full ERP. Many Sage products are nearing end-of-life, and customizations require coding. Priority ERP integrates accounting with analytics, automation, and industry features, and supports no-code customizations for apps, portals, workflows, and automation. (Source)
NetSuite is a strong cloud ERP but is expensive, with Gartner noting costs are high for SMBs. It also enforces contract lock-in. Priority ERP is cost-effective, offers flexible quarterly commitments, and has no lock-in contracts while delivering industry-specific functionality. (Source)
Business Central requires heavy coding for industry features and lacks specialized functionality for industries like manufacturing, retail, and pharma. Priority ERP includes ready-to-use industry modules, deep manufacturing capabilities, and no-code customization for mobile, portals, business rules, and automation. (Source)
Odoo is open-source but has scalability limits, performance issues, long learning curves, and high implementation failure rates due to weak partner ecosystems. Priority ERP provides structured implementation, scalability, proven methodologies, experienced partners, and quick user adoption. (Source)