Free Ways to Increase your ROI

Free Ways to Increase your ROI

In order to calculate a return on investment in your warehouse, it is critical to evaluate your work flow process. Is there a process that results in frequent errors or causes slow downs in the follow on processes? Identifying and correcting these conditions first will increase your ROI quickly, and have significant impact on your business operations. The goal here is to take a small amount of time to have a significant improvement in your profits.

First, in your receiving area, examine how many receivers you have. Lower costs by calculating if you can decrease labor to your busiest time slots. How many hours per week are spent on receiving? Streamline the workers to the peak receiving times and use a skeleton crew during slower times.

Ask Your Team For Suggestions

The people doing the work can see improvements on a daily basis and come up with ideas that can help them get the work flow moving more efficiently and faster.

Manage Your Inventory

Use a warehouse management system to gain inventory and warehouse accuracy so you can reduce stock levels. It also provides visibility to real-time inventory, which can potentially eliminate lost product and reduce overstocks.

Follow Up With Customers

Customer satisfaction is often hard to measure, but it is valuable. Having the right product to deliver to customers at the right time and to the right place helps increase ROI by retaining customer loyalty. A quick follow up in these fast moving times is priceless to your clients.

Improve Your Shipping Speed

How many workers are picking shipments and for how many hours? Can this be lowered? How many errors occur per week in the picking process and how many hours does it take to correct one error? Eliminating error every week instantly increases your ROI, determine the savings for this process improvement.

A few improvements will increase your ROI over time. Sometimes it is the simple changes that allow for the greatest improvements. Your company products will roll out on time, and both your customers and workers will be happy.

For a Free Operational Audit on more ways you can approve your productivity contact us!