Warehouse Management System (WMS) software manages warehouse resources; including space, labor, equipment, tasks, and material flows. WMS includes data modeling, warehouse data management, and security & user rights management.
Retailers managing stores with one or more warehouses often require a WMS to track the movement of inventory. These systems also help in automation of ordering, tracking, and distribution of inventory from the warehouse level to the store level. WMS supports barcodes and/or RFID (Radio Frequency Identification), and work in conjunction with the point of sale & inventory control systems.
The retail industry comprises individuals or companies engaged in the business of selling finished goods to the customers. These finished goods reach customers through various sales channels, which include catalog stores, brick & mortar stores, e-commerce or online channels. The industry is categorized as per various types of products, types of retail formats, etc.
Even though the retail industry promises to be one of the growth drivers for the global economy in the long term, the industry’s profits are currently affected by the recession. Thus, the retailers are looking forward to expand their markets on a global level, align business strategy according to the customer needs, and build operations around the business strategy. The retail companies are adopting new technologies to increase & analyze their customers, operations, and market dynamics. In the retail industry, WMS improves operational efficiency and organizational intelligence.
The report by TechNavio Insights forecasts the market size of the global warehouse management systems software in the retail industry, over the period 2008-2012. Further, the report discusses the segmentation of the total WMS software market into various geographic regions. It also identifies the market trends, drivers, and challenges existing for WMS software in the retail industry.