A warehouse management software is an automated software designed for managing the daily operations of the distribution center. It optimizes the distribution center management. The software provides companies with sorting capabilities and product storage.
The Warehouse Management System market is predicted to grow at a CAGR of 15.3% from 2021 to 2028. The software helps different industries such as manufacturing, food and beverage, healthcare and other industries across the world. The advantage of this solution- it streamlines the process, helps users make the right decision and accelerates the delivery of a product.
WMS is useful in the current scenario, where businesses face a disrupted supply chain due to COVID-19. The solution facilitates organizations to manage the inbound and outbound goods. The 3PL industry or the third-party logistics industry is driving the usage of the WMS. The major reason why this solution is popular in the industry- efficient order management and systematic flow of operations.
The other factor leading to an increased usage of the software is many enterprises plan to enter new markets. The pandemic has opened up doors of opportunities for these businesses to meet the growing customer needs of online goods purchase. Therefore, organizations have now integrated the WMS software in their business process so that they can make the entire operation smooth and efficient for the benefit of all- the buyer and the brand, leading to good results.
The North American region has a greater share in the WMS market. The software aligns well with the cloud software, which is also receiving major investments in the region by the large enterprises. Both solutions help improve the warehouse management operations. There has been huge acceptance of cloud WMS systems to the standalone WMS, which is increasing the popularity of the WMS among the consumers. Finally, the digitization of the supply chain management fuelled by R&D, is further set to increase the demand of the software in the market.
Cloud-based warehouse management software gives visibility to the overall real-time data that shows the status of the inventory. The top 10 warehouse management systems are Manhattan Associates, Infor SCM, Astro WMS, Bright Warehouse, Softeon, HighJump, and others. This agile WMS solution is a dynamic supply chain that can be scaled, configured, and adapted.
Warehouse Management software helps in complete transaction management that offers detailed information. It combines warehouse fulfillment with the embedded labor management and the 3D visual analysis for supporting complexity and supporting enhanced operational execution.
There are different types of WMS and they are cloud-based systems, standalone systems, supply chain modules, and ERP modules. Different industries implement warehouse management in their process and they are retail, manufacturing, technology, and others for coordinating, shipping, and storing. The standalone WMS has different features such as packing, slotting, receiving, bar code scanning, shipping, picking, put-away.
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