Smart-houses to Smart-Warehouses
In this ever-evolving tech-based era, we are experiencing innovation and advancement all the time. Our consumer nation is all about the newest advances, the best technology, the most efficient execution of basically any task at hand. We are creatures of convenience, and throughout our day to day activities, you would be hard-pressed to find someone without a smart device. Statista, a statistics and studies portal, reported $23,556,000 in revenue generated by the Smart Home market in 2018. Their studies projected that revenue is expected to show an annual growth rate (CAGR 2018-2023) of 13.7%, resulting in a market volume of 44,791,000 by 2023. Additionally, household penetration is 27.6% in 2018 and is expected to hit 53.9% by 2023. The average revenue per installed Smart Home currently amounts to $199.27 (A global comparison revealed that most revenue is generated in the United States $23,556,000 in 2018).
Smart home features
- Control and Connectivity
- Comfort and Lighting
- Home Entertainment
- Energy Management
- Smart Appliances
When it comes to these “smart” items what similarities do they share? They are all designed to simplify and streamline our day to day lives so we can complete tasks ahead of time and be as productive as possible. How is this done? By connecting to other items and consolidating the number of steps involved in a given process. If this definition of “smart” is applied to a warehouse, then one could say a smart warehouse is designed to operate with maximum efficiency. Areas such as Automation, Flexibility, and Real-time Connection would be the primary focus for keeping things running smoothly and efficiently.
The addition of automation reduces human error and menial labor, lowering costs and giving businesses more resources to reinvest throughout the warehouse and other departments. Furthermore, they are nearly, exclusively faster and more reliable, executing faster shipment times and higher volumes of customer satisfaction. Software’s that provide alerts from start to finish throughout the process or automated billing that tie the warehouse activity with the accounting can improve product production, packing and or shipping efficiency further.
Flexibility means a warehouse is optimized for its current state and also primed for the future based on the company’s goals. Included in this is, understanding the needs of the physical warehouse space, staffing needs, and software and hardware updates that may be coming. Ensuring proper documentation and transparency of the process with third-party vendors and shippers promotes organization and the ability to nurture those external relationships.
A smart warehouse has the ability to receive real-time updates on all activity, day or night. Beneficial for both company and employees, this allows the ability to monitor performance and/or to quickly address possible issues that may arise. Also, cloud-based warehousing software provides accessibility and security for all the need to know information a project requires.
With so many advancements, it can be difficult to be aware of them all but smart warehouses are evolving with new technology integration every year. For more information on the other “smart warehousing” out there, here is a link from Packaging Strategies September 2018 Smart Warehouses Are Here.