Logistics management is an integral part of the supply chain process. It helps to implement, and control the flow and storage of products, services, and any related information from the origin point to consumer consumption. It is essential to implement proper planning and control systems for an efficient and effective movement of goods. Logistics management can help companies to reduce expenses and enhance customer service. It plays a major role in boosting a company’s sales and profits which deals in production, shipment, warehousing and goods delivery. Logistics can also enhance the value of a business and help it in maintaining a good image.
Several elements go into the process of logistics management. From selecting the appropriate vendors for transportation facilities to choosing a practical route, finding a competent delivery method, and using right technology and software to handle each element efficiently, each element is indispensable to the entire process. The logistics market is growing in an incredibly healthy format. So many competent logistics companies now offering different types of services to their trouping clientele with even more efficiency than recorded 10 years ago. The global logistics market is anticipated to register a CAGR of 3.48% from 2016 to 2022 to attain a market size of around $12,256 billion by 2022. Enhanced logistics management will increase the productivity and profitability of this industry.
Logistics software is an essential component of the entire management system. It helps to align and automate the supply chain process. To choose the best cloud logistics software, you need to analyze your logistics needs and demands, including the inventory, warehouse operations, and shipping. Employing the right software can help you optimize the tasks from the beginning to the end of the supply chain.
This article lists the top 8 things you need to consider before selecting the Logistics Management Software.
· Order management
The order management process is more than just receiving or managing the orders. It involves a seamless integration of orders across various channels. A logistics platform should have a robust order management platform to organize the inventory databases for data collection, order processing, fulfilment systems, and returns. A good order management system helps to access the order from the various sales channels easily.
· Inventory management
Logistics management software should have an inventory management feature. Inventory management is crucial to the supply chain. It consists of various factors like control and supervision of purchases, maintenance of products, command on the sales, and order fulfilment. Logistics management software helps to manage and update the inventory quickly.
· Warehouse management
Warehousing is an integral part of the logistics management system. Your logistics management software should function according to the policies, procedures, and organizational tools that will help in the warehouse operations’ smooth functioning. Warehousing also involves the flow (shipping and receiving) of physical inventory, including the abstract goods, like information and time. Efficient warehousing provides an economic benefit to businesses and customers.
· Transport Management
Another essential feature of good logistics software is transportation management operations. Selecting the suitable carrier and maintaining shipment, control of flow, and storage of goods is managed by the logistics software.
· Logistics Analytics
Data analytics has become an integral part of most businesses and industries. A logistics software with a robust data analytics tool helps to analyze the shipping history, or improvements in the industry’s operation to lower down the costs. Data analytics helps to forecast specific operational patterns which allow businesses to plan their resources for optimal growth.
· Risk Management
Logistics software can help your organization identify any potential threat, risk, or discrepancy in the logistics supply chain. The risk management feature will help to take care of insurance claims, freight accidents, or other catastrophic events in the industry.
Good logistics software with scalable features will prove to be helpful in the long run. If your industry increases in size, and scale, the software should take in the extra additions.
· Customer Support
Good logistics software should have the right customer support service tools. Automation, chatbots, and virtual assistants can assist the customers 24/7 besides the manual help desk service, hence augmenting the human workforce’s capacity.
While choosing the right logistics management software for your system, you should consider your business size. You need to also look for essential functionalities like order management, inventory management, and warehousing. The right software will build a stronger relationship between the business and the customer. It should integrate seamlessly into your business to manage the fieldwork, improve sales, enhance customer support system, and financial administration. A logistics software that is easily customizable can be adapted to your business quickly. The software integration process should not be excessively time-consuming. It should have a rounded customer support system to generate a more significant ROI. A software with a good user interface that caters to manufacturing and distribution businesses will quickly help the system administrators manage the logistics operation.