Pallets are an integral part of the modern-day supply chain and a pallet management software makes the supply chain more efficient and trackable.
Getting the right kind of pallet management software that helps you track your entire pallet inventory is essential as it can make a big impact on the bottom line.
Many organizations, pallet suppliers and consumers, do not have an effective internal resource dedicated to monitoring and tracking pallet inventory. They have a slow tracking and monitoring process as the operations are handled manually by employees who often carry out multiple tasks to manage inventory.
While in the short-term it may seem like it’s viable and the operations are functioning seamlessly – there are many areas left with loopholes and if left unchecked, companies may scramble to replenish supply and, in the process end up paying a premium or having a larger cost due to lost and damaged pallets.
That is why it is important to find the right kind of software to support your inventory management. A software that will help you streamline processes and help reduce operating costs.
Pallet management systems are the new avenue for supply chain execution software that goes beyond the old school pallet management and accounting of the past.
Now, Pallet Management Softwares are an essential part of any efficient supply chain management solutions platform for industries that depend heavily on pallets and containers.
Pallets and Container Management Software now incorporate several elements like the use of RFID tags, barcodes, location tracking etc.
The major difference between a Pallet management system and a supply chain execution software is “the identification methods required for reliable tracking and the level of process integration, in terms of systems, demanded of pallet management” – RadiantWave
Pallet management and tracking improve the availability of pallets and containers, all while reducing downtime and scope for errors. This overall makes the life cycle of the pallets and containers more efficient.
Pallets and Container Management Software provide critical information on the supply chain and how different stages of pallet management are executed at what point.
For companies that handle large complex processes of tracking and managing large pools of pallets, crates, containers or any empty reusable transport packaging (RTP), a Pallet Management system gives them a single digital platform to track their supply chain.
By having this having the entire movement of the pallets tracked and monitored on a single platform – companies save a fair amount of money.
Having a Pallet Management software in place ensures smooth execution across the supply chain and gives clear visibility of the status of the movement of the pallets and containers.
By simply being aware of what is happening across the supply chain, RTP’s can be tracked and moved through their life cycle multiple times.
The fundamental problem with pallets is that they may be expensive. Pallet purchase and subsequent depreciation have a significant effect on cash flow, the balance sheet and P&L. Growing market demand for returnables is forcing substantial capital investment in plastic or other “non-wood” pallets. Protecting this investment and minimizing ongoing investing is a key ROI element of pallet systems.
Lost and damaged pallets and containers and pallets and containers that can’t be tracked in the supply chain all impact your bottom line.
By using a pallet management software, you can ensure you cut losses and maximise your profits by keeping track and count of your pallets moving in the supply chain.
There are several benefits of pallet management systems, some include:
When you have software that helps you track all the inventory and gives you an overview, you are less likely to lose your pallets and will have accountability for any damaged pallets.
A pallet management software allows you to track and monitor the entire journey of the pallets making sure that all damages and losses are accounted for.
The best way to cut overhead costs, prevent shortages and free up valuable time for business owners and team members is by finding an efficient way to track pallets and containers.
The simplest way to save bottom-line cost starts with simply being more efficient with tracking and monitoring the movement of the pallets and containers.
Inventory management is the most comprehensive and useful aspect of any pallet management system.
Using a Pallet management system gives a more holistic solution where you can track and manage all your vendors and services on a single platform, from customer stocks to warehouse inventory.
This way every dollar you invest is accounted for and you have a clear overview of your accounts.
An overlooked benefit of investing in a pallet and container management system is enhanced material management.
By continuously having a track of your pallets and containers on a single platform, you can improve the life cycle of your crates, pallets and containers and in turn reduce your carbon footprint.
Having a close eye on your supply chain allows you to optimise the movement, count pallets and monitor any losses – by being able to do these tasks you don’t have to keep reinvesting in new pallets and can ensure efficient reusability of the existing ones.
When you are in the logistics business there are many levels of management and your team needs access to the Pallet Management system.
A pallet management software like LogSoft, has different levels of access that you can give your team.
Having different levels of access on a single platform will allow you to track and manage your supply chain hassle-free.
As mentioned, Pallet management software simplifies supply chain management through efficient inventory tracking, monitoring, material management and so on.
If you are wondering if it is the right time for you to get a software to make your pallet management hassle-free – start a conversation with us and we will recommend the best solution for you.
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