Efficient Inventory Management for a Furniture Warehouse

Background

ODWEN manages warehouses that store various types of furniture, including sofas, tables, chairs, and cabinets. The warehouse services multiple retail outlets and direct-to-consumer sales channels.

Problem

The warehouse faced issues with inefficient inventory management, leading to:

• Overstocking of slow-moving items and stockouts of fast-moving items
• Increased holding costs
• Difficulties in locating items quickly
• Poor order fulfillment rates
• Errors in order picking, leading to returns and customer dissatisfaction.

Solution

ODWEN implemented a comprehensive Warehouse Management System (WMS) with the following features:

• Real-Time Inventory Tracking: Barcoding and RFID technology were used to track inventory in real-time.
• Demand Forecasting: Advanced analytics and machine learning algorithms were employed to predict demand and optimize stock levels & Restocking.
• Slotting Optimization: Items were stored based on their demand frequency and physical attributes to maximize space utilization and minimize retrieval times.
• Real-Time Coordination: The WMS coordinated the timing of inbound and outbound shipments to ensure smooth cross-docking operations.

Results

• Inventory Accuracy: Improved to 98%, reducing stock discrepancies.
• Order Fulfillment Time: Decreased by 30%, enhancing customer satisfaction.
• Holding Costs: Reduced by 20% due to optimized stock levels.
• Warehouse Space Utilization: Improved by 25%, allowing for the storage of more SKUs without the need for additional space.

For more information, please share details with Anoop Kumar - anoop.kumar@odwen.co.in

#warehousemanagement #inventorymanagement #furniturewarehouse #efficiency #real-timeinventory #rfidtechnology #barcoding #demandforecasting #machinelearning #analytics #slottingoptimization #automatedreplenishment #stockoptimization #warehousesolutions #logistics #supplychainmanagement #operationsmanagement #inventoryaccuracy #orderfulfillment #costreduction #spaceutilization #retailwarehouse #directtoconsumer #warehouseautomation #warehousesoftware #stockmanagement #logisticsmanagement #warehouseefficiency #inventorycontrol #warehouseinnovation #furnituresupplychain #warehouseproductivity #warehouseimprovement #inventorytracking #warehousetechnology #furnituresolutions #warehouseoptimization #smartwarehouse #advancedanalytics #wms #warehousemanagement #supplychain #inventorymanagement #logistics #warehousing #supplychainmanagement #inventorycontrol #distribution #supplychainoptimization #fulfillment #logisticsmanagement #automatedwarehousing #supplychainstrategy #efficiency #demandforecasting #supplychaindigitalization #rfidtechnology #real-timeinventory #warehouseoperations #inventoryaccuracy #furniture #interiordesign #homedecor #furnituredesign #livingroom #bedroom #diningroom #sofa #table #chair #cabinet #modernfurniture #rusticfurniture #woodenfurniture #furniturestore #luxuryfurniture #furnituremakeover #vintagefurniture #outdoorfurniture #customfurniture