Inventory management in the future

Inventory management has and continues to play an important element in any business ' successful operations. More and more companies recently chose inventory management software to ensure successful inventory management and accurate forecasting.

Inventory management is not an independent business process that takes place after the completion of other processes. It is a high-level process that should be integrated into other processes of supply chain planning like sales and operations planning, master production scheduling and supply action management. 

Changing with time

Technology changes our way of working and changes at a speedy pace. In the way we do business, software and automation are becoming increasingly prevalent. Just take a look at the method we tend to manage our warehouses nowadays – it wont to be a pad of paper or computer programe, however currently on-line inventory management is taking the lead. It has streamlined warehouses around the globe with actual, up-to-date information in real time. 

Mobile Warehouse Control

As cloud-based systems are becoming more popular, businesses can now use mobile phones to manage inventory from the palm of their hands with up-to-date cloud information. In result, Mobile phones are becoming extremely powerful and can handle more data every year. Smartphones are also becoming more and more capable than ever before. The potential for warehouse use is growing with the development of the app. Now Barcode scanning apps can be downloaded on phones. This means it becomes redundant to use costly scan machines. 

Revolutionizing with Artificial Intelligence

There is no doubt that in future inventory management artificial intelligence will remain one of the biggest game changers. Artificial intelligence can, for instance, help a company to include chatbots on its eCommerce site. These bots can provide answers to customer inquiries into inventories, price, shipping policies and much more. This eliminates the need to have a chat channel staffed by someone. It can free an employee's space to do other jobs. AI provides detailed analytics of the inventory management operations. Furthermore, the results of the detailed analysis can guide enterprises decision-making. These could include maximizing storage space, reducing production costs and promoting demand provision. 

Enabling Workflows with Voice-Control

One of the major challenges faced by the leaders of modern retail companies is to find and train low-cost staff. The increase in eCommerce has increased the need for 24/7 operations and caused a shortage of labour during the holidays. This means that busy warehouses now compete for low-skilled workers available for short term. Modern warehouses are increasingly turning to voice-driven picking to avoid the delays and investing a large number of resources into training these short term staff, a hand - free solution that leverages the power of artificial intelligent material to audibly direct workers across the warehouse without hiking time.

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