Inventory Methods – Fulfillment Services:
If you’re reading this, you’ve made a great choice! Whether you are a seasoned CEO or a first-time manager, understanding and utilizing the conveniences that a fulfillment company can offer businesses and e-commerce owners is vital. Managing your own inventory along with all the other responsibilities you have, might be too much, and why run the risk of making what could be a critical inventory error? Fulfillment companies are designed to take a load off and help your business be more successful with efficient inventory methods.
How A Fulfillment Company Can Help Your Business?
Running a business is not easy, so here are 7 ways fulfillment companies can help your business succeed.
- Specialized Shipping
Offering free shipping is a successful marketing tool. Whether your business offers free shipping or not, it’s in your company’s best interest to do everything possible to keep shipping costs down while providing accurate deliveries in a timely manner. Fulfillment companies are able to offer not only speedy and discounted shipping, but a variety of shipping solutions to meet the needs of your business. Some fulfillment companies offer two-day shipping to most domestic addresses in addition to expedited, international, drop shipping, small parcel shipping, and freight shipping. Fulfillment companies can develop a specialized shipping management program for your company to assure your needs are taken care of. Getting your orders out to your customers in a timely manner ensures happy customers and accurate inventory counts.
- Overhead Costs
The warehouse facilities required for a business have a fixed cost associated with them, regardless of the consistency of your income. Costs such as shipping products, stocking products, hiring warehouse staff, packaging equipment and supplies, and inventory software can cost quite a bit. By choosing a fulfillment company, you are saving money and providing yourself the means to grow.
- Sales Peaks And Seasonal Adaptability
The National Retail Federation states that almost 20% of all annual retail sales take place between November 1st and December 31st. When considering storing products, it’s vital to consider seasonal products and the additional costs that come with it including temporary employees and additional equipment in order to keep up with holiday orders. By outsourcing orders to a fulfillment company, small businesses and e-commerce companies can avoid the extra costs and headaches that the holiday season brings in. Instead of wasting time training new temporary workers, rearranging inventory to stock temporary items and machinery or keeping up with shipping orders, a fulfillment company can take care of your additional seasonal needs. There is no need to stress out when the holiday madness hits, or when sales slowdown in January. After the big rush is over, you won’t need to worry about storing unoccupied machinery, seasonal products, or letting go of seasonal employees.
- Inventory Alerts
Fulfillment companies utilize top inventory management techniques, software and equipment to assure that your products are accounted for accurately. There are many back order pitfalls such as unnecessary customer service, order cancellations, or increased returns. Fulfillment companies offer a variety of options to avoid loss of income. This allows you to manage your inventory while tracking product demand and will help avoid back orders despite industry triggers or pressures so you don’t lose out on any sales.
- Multi-Channel Orders
Using a fulfillment company allocates easier e-commerce sales by providing multi-channel orders. By selling on several channels such as Etsy or eBay, you are increasing your presence but you are also increasing the risk of inventory issues. However, by allowing a fulfillment company to manage your inventory, you are assuring a positive experience with multi-channel sales with up to the minute status reports provided 24/7 with multi-channel order management software so you’re always aware of what is going on with your inventory.
- Future Ship Orders
Online customers are typically looking for products quickly and will buy the product that is the most convenient. If you happen to run out of a product, it is unlikely the customer will wait for your business to restock. Future ship orders assure that you’ve made the sale instead of hoping that the customer will come back to your product once it’s available again. Including future ship orders is also convenient for customer’s birthdays, holidays and special events. By allowing a fulfillment company to manage your inventory and provide future ship orders, you are providing your business, as well as your customers, with an additional convenience and time-saving method.
- Returns, Replacements And Refurbishment
One of the most troublesome tasks any business deals with is product returns and replacements. Fulfillment companies utilize sophisticated systems that integrate with your online shopping cart in order to keep efficient track of your products and separate damaged goods from products that can be resold, saving you time and money. Regardless of what kind of business or e-commerce site(s) you manage, Phase V offers inventory services and fulfillment solutions to help you succeed.