ITMATTERS
1. Implement electronic data interchange (EDI) to support a standard for exchanging structured data with partners. Eliminate the need for manual communication, which is error prone and redundant; gain real-time visibility into orders, shipments, and inventory levels; and create better transparency and collaboration across supply chain partners. 2. Leverage application programming interfaces (APIs) to enable deeper integration with partners’ systems for real-time data exchange and visibility. Enable the automation of specific tasks—such as order confirmation and shipment tracking— to optimize workflows and eliminate manual intervention. 3. Prioritize cloud-based integration. With these tools, warehouses can easily integrate warehouse management systems and transportation management
• Strengthen relationships across all ecosystem stakeholders through increased visibility and trust. As the warehouse market begins to contract, organizations should prioritize automation and ecosystem integration software to align with supply chain partners who are incredibly reliant on technology to drive efficiency and increase the bottom line. These solutions also provide improved scalability and adaptability to better handle economic fluctuations that may arise in the future. Improved communication and collaboration between partners ensure smooth data exchange and swift adaptation to new requirements. Increasing efficiency and improving visibility by prioritizing ecosystem integration aims to minimize exposure to fluctuating external factors and improve supply chain partnerships. n
systems with various EDI and API standards to provide seamless data exchange with carriers, suppliers, and other partners. As we turn a new page in the freshly redefined identity of warehousing, organizations that wish to remain competitive and align with the wave of automation entering the supply chain will benefit from the ecosystem integration approach mentioned above, which allows warehouses to: • Strategically organize inventory, minimize wasted space, and create efficient packing routes. • Increase storage capacity, streamline workflows, automate routine tasks, optimize picking routes, and reduce fulfillment time. • Benefit from access to instant, actionable data that can streamline information gathering and reporting.
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August 2024 • Inbound Logistics 27 ICC =inventory carrying costs C =capital T =taxes I =insurance W =warehouse costs X =shrinkage S =scrap O =obsolescence costs R =recovery
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