Managing warehouse operations without proper tracking can quickly become overwhelming and lead to various setbacks for businesses. These setbacks can include but are not restricted to inventory management issues, poor resource allocation, delays in order fulfillment, and poor customer service.
Fortunately, there is a solution that can help you track your warehouse operations effectively and efficiently.
Warehouse KPI Dashboards!
Having a dashboard is an essential tool that can help you track all your warehouse operations in just one click. Nowadays, businesses are integrating dashboard solutions on their mobile phones to have access to data on the go and boost their real-time warehouse visibility. With a KPI dashboard, you can promptly gain an understanding of whether warehouse operations are going well or if they require necessary action.
Let’s discover what are the different KPIs that can be tracked with the Warehouse KPI dashboard-
Inventory Levels
To evaluate the stock level of your warehouse and to plan the production levels, it’s significant to track inventory metrics. It’s crucial to monitor inventory to make sure that they are neither too accessible nor too low, leading to stockouts and ultimately lost sales. Having a dashboard will give a unified view of all the inventory metrics and facilitate the operators to maintain optimum inventory levels and reduce the carrying cost of inventory, leading to improved customer satisfaction.
Order Management
It consists of all the processes from the time you receive the customer order to the delivery of goods. Order management KPI ensures that all the processes involved in order management such as picking the product, packing, and shipping are executed accurately without any errors. A KPI dashboard can track order accuracy by highlighting issues that need to be addressed, thus by identifying areas of improvement, warehouses can implement corrective measures to increase order accuracy. It is one of the important metrics to track to maintain customer satisfaction and minimize the return of goods.
Labor Productivity
A labors productivity is one of the determining factors for ensuring the operational efficiency at the warehouse. It’s crucial to measure labor productivity in completing tasks such as picking, packing, and shipping orders. Having a dashboard solution can track labor productivity metrics such as units picked per hour, labor cost per order, total cost of workforce, and employee utilization. It will lead to identifying inefficiencies at work and implementing strategies to improve productivity. All these metrics can be customized also as per the needs of different warehouses.
Cost Per Order
Cost per order refers to the total cost incurred to fulfill the customer’s order. It includes all costs associated including labor, packing, shipping, and additional overhead costs. Having a tool to measure such costs will help in identifying cost-saving opportunities. A KPI dashboard analysis all the components of cost per order helps warehouses make informed decisions to reduce their overall cost per order and improve profitability.
Warehouse Safety
To ensure utmost safety and protect the laborers from any kind of accidental injury it’s significant to keep an eye on KPIs related to accidents that may occur at the warehouse. A safety KPI dashboard can provide real-time visibility into the safety metrics, facilitating the identification of anomalies at the early stage and control before they escalate. Dashboards trace if the warehouse is falling short of meeting the safety regulations and standards.
Summing Up
Having a dashboard solution for your warehouse must be sought after to improve operational efficiency by getting valuable insights into warehouse operations and its processes.
Above listed are some of the important Key Performance Indicators (KPIs) that can be analyzed with having a dashboard. At Canopus Infosystems, we provide custom dashboard options that enable you to choose the metrics you need to track. Additionally, we offer consultation services to help you identify the relevant metrics that you should track based on your warehouse problems. Our team of experts is here to guide you, ensuring you receive the best possible solutions.
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