An inventory management strategy can either make or break an e-commerce business. With more products being sold and distributed online, it is crucial to partner with a highly organized logistics management system to avoid future headaches and angry customers.
According to the Bureau of Labor Statistics, there has been an increase of over 1,600 new warehouses in the US (adding up to roughly 10.4% increase). Because instating an inventory management solution can be a lengthy process that will require continuous maintenance and observation, you will need to seamlessly identify your requirements before settling.
Since the dawn of Amazon, the standard for efficient order fulfillment has risen exponentially. Where once two-day shipping was considered a luxury, it has now become a requirement. In an industry where customer expectations rule all, retailers must take on an adaptable 3PL logistics supply chain if they ever hope to beat competitors and secure positive buying behaviors from their audience.
While most manufacturers and logistics supply chains are well versed in the potential calamities associated with order fulfillment and inventory management, every great system can spin out of control. You may venture into new areas, have new vendors, shorter deadlines, and faster manufacturing or distribution operations. At any point in this process, you can easily lose control and visibility into order fulfillment needs.
Today’s consumer market revolves around convenience. Audiences are leaning towards purchasing systems that allow them to buy and forget about the purchase, only to be pleasantly surprised by a perfectly packaged subscription box delivered to their door. A payment will be collected monthly without the consumer having to enter card details or visit a website.
This surge in subscription popularity has created dozens of new businesses, particularly in industries such as clothing, literature, technology and food.