Inventory Management

Logistics refers to the overall process of managing how resources are acquired, stored, and transported to their final destination. That may mean retail items, raw materials, or consumer or industrial supplies.

Your company needs a smart logistics plan and partner to stay competitive and viable in an ever changing and challenging world.

What does your organization need?
You need a full logistics solution: a cost-smart warehousing solution, an efficient inventory management  solution, and a reliable shipping / transportation solution. At Wise we understand that better results often comes down to improved warehouse operations and smart inventory management practices. Overall, a better plan and a helpful partner mean a better business.

Wise works to assist and enhance your logistics operation: improving all aspects of your businesses shipping, storing and inventory operations.

Wise understands all five aspects of logistics management : storage, shipping, tracking, network design and planning. Fine-tuning each of these components ensures that you move inventory efficiently throughout your supply chain, saving time and money.

5 Aspects of Logistics:

1. Storage
Companies can choose to store raw materials, inventory, or finished products in their own warehouse, or with a third-party. Third-party logistics (or 3PL) refers to the outsourcing of ecommerce logistics processes, including inventory management, warehousing, and fulfillment. Many 3PL businesses exist today, handling a significant portion of logistics management for many customers. Since warehousing is their core business, 3PL providers can often offer these services at a lower cost.

2. Shipping
The movement of items, materials, or products between different locations can be a challenging component of logistics management. Incoming materials and inventory must be tracked. In addition, finished products might be sent to a warehouse, distribution center, retail store, or directly to customers.

3. Tracking
With so many items and orders traveling to different locations, tracking material is critical. By employing technology such as barcoding or RFID, you can more efficiently locate both raw materials and products at any moment. Effective tracking means faster service, lesser downtime, and reduced costs.

4. Network Design
The engineering of the actual network can make a big difference in logistics management efficiency. Shipping from a closer physical location, as well as understanding shipping availability and transportation costs, can cut days from the delivery schedule.

5. Planning
If your business experiences seasonal peaks and valleys, you may rely on logistics management to help manage these fluctuations. Where and when you’re shipping your products, as well as the capacity of both storage and transportation options may be affected significantly by this change in demand.

Note: Supply chain logistics is the management of all the companies, transportation, warehouses, and distributors needed to deliver a final product. In our global economy, that may involve dozens of businesses that must play a part to procure or produce raw materials, parts, and services to get an item into the hands of a consumer.