Millions of parcels. Thousands of unique destinations. Several hundred workers. A few hundred more trucks. Countless machinery. One single day! And, who’s the lucky person who gets to manage all of this? Yup, the warehouse manager.
The job of a warehouse manager is getting trickier by the day. The volumes keep on increasing while the scope of error keeps on decreasing. To make sure things don’t go out of hand, it becomes fundamental for warehouse managers to crunch numbers more effectively.
Unlike conventional management practices, numbers follow only one rule: they don’t lie. They don’t deal with hit & trials methods, just absolutes. By recognizing key facts, figures, & statistics, managers can identify areas to strengthen and apply them efficiently. After all, you can’t improve something until you’ve measured it.
However, there is one tricky part: the sheer volume of operations involved makes it difficult for managers to follow a seamless process. So what are the key areas of business that need the most amount of attention? Lucky for you, we’ve listed them out. Let’s find out more.
An average work-related injury can lead to loss of time & cost. It can be up to $38,000, a staggering figure you would say. So, how to avoid this? By maintaining stats! Records kept on accidents occurred, accidents avoided, days without accident etc. should be analyzed by the Safety Manager. This will help businesses identify areas that require safety upgrades.
Assigning an SKU-based system can work wonders in gaining critical warehouse insights. These insights can help ascertain the rate of picking items up, the frequency at which they are dispatched, the value of each product, and all the time stamps. This way it becomes easy to predict trends and help assign priorities in storage.
Damage & Losses
Damaged goods or lost items can lead to losses of billions of dollars for companies. The best way to curb these numbers is by keeping tracks of these three question: ‘Where’, ‘When’, & ‘How’. By tracking these parameters, companies can employ measures to nip the problem in the bud.
Streamline Turnaround Times
Calculating the overall efficiency of the logistics chain can be next to impossible. But, if there’s one parameter that can throw light on it is delivery turn-around times. Shorter time periods mean faster deliveries and happier customers. This is also a smart way to gauge customer satisfaction.
Key Performance Indicator is one of the most overlooked processes of warehouse management. It is knitted closely with order-picking rates. What if your fastest selling product is not meeting its targets because it’s always out of stock? That’s why it’s crucial to keep a track on on replenishment rates.
Often the problem is not a willingness to solve it, but an inability to identify what the problem is! Statistics & figures can’t solve a problem but they can help you zero down on them. And knowing it is half the battle won. Make your move, start crunching numbers.