The WMS market is expected to be $2.4 billion in 2020 and is anticipated to reach $ 5.1 billion by the end of 2025, at a CAGR of 16.0%.

A Warehouse Management System helps businesses in improving efficiency, reliability and quality control of their process by allowing them to transfer goods through their warehouse faster. It majorly helps in inventory management, asset tracking, enhancing return on investments and effective distribution.

There are generally four common types of warehouse management systems: Standalone WMS - The most basic form of WMS. They are a typically deployed on-premise and are used with the business’s original hardware and network. Supply Chain Execution Modules - Deploying supply chain module as a primary WMS requires organizations to invest appropriately in their supply chain applications that can also offer warehousing features. This help 3PL organizations to explore several benefits linked with SCM. Integrated ERP – It is a dedicated system that has the ability to provide a solid supply chain implementation and scalability. It includes most of the essential applications that enable a 3PL to function smoothly. Cloud-based WMS – It is a web-based, centralized-computing model that employs cloud technology.

The advantages of deploying a complete warehouse management system include: Lesser fulfilment time, enhanced inventory visibility, excellent customer service, better space usage, enhanced warehouse productivity, and decreased labour cost.

An ideal WMS should have features which include: Inbound and Outbound functionalities, Putaway Management, Progressive Shipping Alerts, Shipping Planning, Packaging, Product Lifecycle Management.