30 Oct Unit 3_MT347_Discussion response
13748Respond or elaborate on the response below:
In-transit inventory is inventory that is being moved from one location to another but has not yet been physically received (Bowersox et al, 2023). Product in-transit allows products to be housed and managed by the carrier which is moving the product. The product may be inaccessible while in transit, but the products are not taking up warehouse space offering a measure of savings depending on the mode of transportation. The fastest modes of transportation are often the costliest and would put the goods back within a warehouse quickly, which is often necessary due to demand requirements. However, with proper planning, and when demand allows, utilizing slower and more economical modes of transportation will allow the goods to be stored by the carrier while in-transit offering some relief with storing the materials in a warehouse.
While in-transit, goods can be tracked utilizing a transportation management system (TMS), a warehouse management system (WMS), and/or a yard management system (YMS) (Bowersox et al, 2023). The oversight systems would differ depending on how the transportation is managed. Internal managed transport would likely have access to all three systems, allowing for full and seamless oversight of the goods in transport. Utilizing a carrier, the carrier transport management system may offer transportation status of the shipment including transportation conditions and location of the materials depending on the contractual arrangement between the business arranging transport and the carrier.
In-transit inventory contributes to the greater functionality for warehouse management by offering space in transport and predictable inbound and outbound shipments. Well planned material transportation can leverage the space in transport to alleviate warehouse space constraints while having confidence and knowledge of inbound and outbound material deliveries to support production and sales requirements. There are savings with both transport costs and storage costs with well-managed, slower, more economical transport solutions.
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