There are key areas of your warehouse operation that need more attention and resources to stay on track. Some might be specific to your type of business, but there are a few common areas where investing more time, money and energy can vastly improve efficiency and profit margins.
Here’s where to invest more time and resources and get results:
Don’t ever scrimp on training. Training reinforces safety protocol and helps to curb driver complacency on the warehouse floor, and that reduces operator error. This helps to avoid accidents and the need for costly forklift repairs.
In fact, a recent case study revealed that as much as 75% of forklift maintenance expenses can be caused by operator error. You might not realize this unless you know the actual costs associated with forklift maintenance in your facility and what percentage is caused by operator error or careless mishaps.
If you have easy to interpret telematic insight that determines this, it is easy to determine the value of training and avoidable operator error.
Simplified warehouse processes
Time, energy and efficiency is wasted by slow or cumbersome processes, so streamlining can save you more than realize. For example, your software platform can be used to reduce hours lost each day to lengthy reports and analysis. With all the information on one screen, managers can effectively focus on what matters: Problems, solutions, and planning for continuous improvement.
Investing in upgraded telematic technology
About 65 percent of companies use big data analytics from an older system to monitor their fleet, equipment and assets. But this typically leaves them scrambling for solid answers hidden in the data.
Real-time business intelligence is vital to warehouse management today and software should be simple to install, use, and maintain. To facilitate change, you need to know information now, as it is happening.
For example, a TotalTrax system measures the movement of all assets in real time, including inventory and forklifts. The software analyzes downtime, determining if all vehicles are utilized to their full capacity and provides clear facts to right-size your fleet.
Some cloud-based telematics platforms achieve impressive results that quickly prove their value. In fact, deploying a quality cloud-hosted telematic application can deliver as much as 1.7 times more ROI than on-premises ones, and those benefits increased over time. The key is finding the right platform.
Improve inventory movement
Use a fleet monitoring system that tells you exactly what is slowing product movement and can identify optimum forklift routing through entrances and exits in a facility and even reveal numerous ways to improve safety and efficiencies.
Idle time, traffic in aisles and moving inventory more times than necessary due to poor routing are detrimental to your bottom line. Leverage new technology so you can change these patterns and keep things moving.
Managing a warehouse or distribution center requires an investment of time and money. Your daily processes and telematic data should facilitate maximum profitability, attention to detail, time management, and continuous action. Investing in the areas that have the biggest impact on profits and results are a priority for growth and maintaining your competitive edge.