𝑾𝒂𝒓𝒆𝒉𝒐𝒖𝒔𝒆 𝑺𝒖𝒄𝒄𝒆𝒔𝒔 𝑴𝒆𝒕𝒓𝒊𝒄𝒔
Continuing from yesterday’s metrics let’s look at some more of them today which can turn our warehouse operations into state of the art thus giving desired deliverables for our businesses.
7. 𝑪𝒐𝒔𝒕 𝑷𝒆𝒓 𝑳𝒊𝒏𝒆 𝑰𝒕𝒆𝒎 𝑺𝒉𝒊𝒑𝒑𝒆𝒅 – The cost per line item shipped examines the microeconomics of logistics operation. This metric measures how much it costs to handle and ship one item out of the warehouse. It’s a good bit of data to have on hand because shipping one item means people, computer systems and how your warehouse moves products. Any increases in metric need a closer look so you can keep costs and prices down.
8. 𝑻𝒊𝒎𝒆 𝒕𝒐 𝑹𝒆𝒄𝒆𝒊𝒗𝒊𝒏𝒈 𝒂𝒏𝒅 𝑷𝒊𝒄𝒌 𝑳𝒐𝒄𝒂𝒕𝒊𝒐𝒏 – How long do you need to intake inventory? This metric measures the speed and efficiency with which your staff unloads something and gets product to its place in the warehouse. This ties into your truck time in the dock and days on hand.
9. 𝑫𝒂𝒚𝒔 𝒐𝒏 𝑯𝒂𝒏𝒅 – Days on hand is part of inventory turnover because it measures how much your storage costs build up over time. When products sit there for several days, it costs you money.
10. 𝑷𝒆𝒓𝒇𝒆𝒄𝒕 𝑶𝒓𝒅𝒆𝒓 𝑴𝒂𝒏𝒂𝒈𝒆𝒎𝒆𝒏𝒕 – Perfect order management indicates which links in the chain are broken, whether it’s procurement, production, transportation, labor or any stage of the warehouse process.
11. 𝑭𝒊𝒍𝒍 𝑹𝒂𝒕𝒆 – The fill rate shows what percentage of orders you fill on the first shipment. This metric combines customer satisfaction and transportation efficiency.
12. 𝑺𝒖𝒑𝒑𝒍𝒚 𝑪𝒉𝒂𝒊𝒏 𝑪𝒚𝒄𝒍𝒆 𝑻𝒊𝒎𝒆 – This metric measures what would possibly happen if you had no inventory on hand whatsoever. Then you determine how long it takes you to fill an order. When this time is shorter, you have better supply chain management.
13. 𝑪𝒖𝒔𝒕𝒐𝒎𝒆𝒓 𝑶𝒓𝒅𝒆𝒓 𝑪𝒚𝒄𝒍𝒆 𝑻𝒊𝒎𝒆 – Your customer order cycle time examines how quickly a customer gets an order. The faster, the better, in this instance. If this changes, figure it out quickly.
14. 𝑫𝒆𝒎𝒂𝒏𝒅 𝑭𝒐𝒓𝒆𝒄𝒂𝒔𝒕 – Demand forecast is hard to predict, but analytics software helps. When you have accurate demand forecasts, you prevent bumps in the road with regards to pricing, capacity and whether to expand your operations.
15. 𝑪𝒂𝒓𝒓𝒚𝒊𝒏𝒈 𝑪𝒐𝒔𝒕 𝒐𝒇 𝑰𝒏𝒗𝒆𝒏𝒕𝒐𝒓𝒚 – In the big picture, your entire warehouse makes money based on this KPI. The carrying cost of inventory measures how much it costs to store inventory over a period of time. This factors in energy costs, labor, down time, shipping, freight and insurance.
Continued tomorrow as well. Till then for all your warehousing issues and supports for them do connect with Synergeze Consultants Private Limited as we are the doctors of warehouses and will enable you to get rid of any issue and improve all metrices.
