How to calculate the ROI of implementing a mobile data collection solution.
Companies need to make a profit first and foremost and cost reducing efficiencies in the supply chain can have a big impact on a company's bottom line. Given recent technological advancements, warehouses are under more pressure than ever to operate at an incredible level of efficiency. Failing to meet it means short-term damage in profits and long-term reputation loss, which can affect contracts and partnerships.
To help optimize supply chain efficiency, accuracy and productivity, many companies implement automated mobile data collection and barcode scanning in their warehouse and supply chain operations. A mobile data collection solution can help you:
Track and trace products using barcode labels and RFID tags.
Automate your warehouse operations with wireless barcode scanners and mobile devices.
Voice-enable your warehouse for even greater efficiency.
Keep your operations running 24/7 even when your ERP system is unavailable.
Capture data in the field or in remote locations where wireless coverage is limited or non-existent.
Produce pallet labels for improved customer satisfaction.
Track fixed assets to improve accuracy and timeliness of fixed asset records.
For any warehouse manager looking to implement a mobile data collection solution, it's highly likely that before your project gets approved, the senior management team will want to know what the return on investment (ROI) will be by investing in this technology.
To help companies decide if mobile data collection software will help their bottom line, providers evaluate warehouse efficiency improvements on a variety of criteria. Through this, manufacturers and distributors can clearly see where their productivity will be positively and negatively impacted and how much, if at all, overall work capacity will improve. Information is typically gathered on cycle counting, picking accuracy, current warehouse productivity and inventory management.
After these values are determined, the client will see a general answer to total ROI savings. For more precise information, some providers make available a consultation service with mobile data collection experts. They will flesh out the corporate profile, answering client questions and providing additional feedback.
Effective mobile data collection software can have a transformative impact on a warehouse. One immediate change will be a strong shift toward digitization. With mobile data collection, employees will no longer need to keep paper records or complete manual data entry. This older style of data collection was error prone and introduced inaccuracies in the data. Automating the process will not only free up employee time, it will greatly improve data accuracy.