Inventory turnover is described as the cost of goods sold compared to the average inventory over the same period of time. It is generally simple to calculate and provides important insight as to where problems with inventory exist. However, inventory turnover analysis and management isn’t a one-size-fits-all approach for all companies and your company may need a specific strategy. If you want to know how to improve inventory turnover, keep on reading. The Importance of Inventory Turnover Analysis The value of inventory turnover analysis is that it measures how sound a company’s inventory methods are, so they can make wise...How to Improve Average Inventory Turnover
Inventory turnover is described as the cost of goods sold compared to the average inventory over the same period of time. It is generally simple to calculate and provides important insight as to where problems with inventory exist. However, inventory turnover analysis and management isn’t a one-size-fits-all approach for all companies and your company may need a specific strategy. If you want to know how to improve inventory turnover, keep on reading. The Importance of Inventory Turnover Analysis The value of inventory turnover analysis is that it measures how sound a company’s inventory methods are, so they can make wise...Important Factors for a Successful e-Commerce Order Fulfillment Process
If you want a successful order fulfillment process in e-commerce, you need to make sure you’re getting the right products to the right customers at the right time. Although the final version of your e-commerce order fulfillment process may vary, there are key steps in the order fulfillment process that will help you ensure that you have an efficient system for your business. Keep on reading to find out what they are! Key Factors of a Successful e-Commerce Order Fulfillment Process (more…)
What are the Different Types of 3PL Providers
Logistics has changed and grown to encompass many facets of delivery. In order to fully understand all of the different functions of a 3PL, we must first define exactly what a 3PL is. A 3PL ( or third-party logistics) company is contracted to provide logistics services to partner companies. So if your company needs help managing the movement of its products, you would partner with a 3PL to make this happen. This management can take different forms, which we will discuss in more detail throughout this article. 4 Types of 3PL Providers 1. Standard 3PL Providers At this level, the...Top Order Fulfillment Strategies for e-Commerce Businesses
A fulfillment strategy for e-commerce refers to business strategies that get online product orders to the customers who ordered them. If steady growth in your business has been testing your ability to fill these orders and deliver them on time, it’s time to update your fulfillment strategy. Thanks to ever-evolving technology, there are many options at your disposal. All you need to do is choose the right strategy, and carefully put it into action. This can be done with the help of an e-commerce 3PL (third-party logistics) partner. Here’s what you need to know about the e-commerce fulfillment models available...
How to Protect Your Online Business from e-Commerce Return Fraud
E-commerce frauds happen when a customer receives a financial gain from the returns process by taking advantage of the business. This results in a loss of profits and inventory from the business. There are different types of e-commerce fraud and some consumers will try the same tactics online as they would in-store. Other types of fraud can only be done online. If you are operating an e-commerce business, it is important to be aware of instances of return fraud to protect yourself from loss of inventory and profit. Here is what you need to know about returns fraud and how...
When Should You Outsource Order Fulfillment for Your e-Commerce Business?
Deciding whether you should manage your e-commerce order fulfillment on your own or work with a partner is one of the challenges you will have to consider as a small- to medium-sized business. If you choose to outsource your e-commerce order fulfillment you can get a lot of daily tasks and responsibilities off your plate, save money, and improve service and the brand experience for your customers. Still on the fence? Here are some solid reasons why you should team up with an e-commerce order fulfillment partner. Reasons to Outsource e-Commerce Fulfillment Save on Shipping Costs (more…)
How Can Startups Benefit from Fulfillment Services?
Why would any small but growing company choose to pay for fulfillment services for startups? Wouldn’t it make more sense to save that money and put it towards growing the company even more? While the cheaper option may sound like the better option, small business fulfillment services are extremely valuable, if not necessary as you grow. Once you look at how a growing business increases your responsibilities and your customer expectations, you will realize the need to hire a third-party fulfillment center (3PL). If you’ve been holding out on hiring a 3PL partner but notice your business is growing, here...
What Is the Importance of Returns Management for e-Commerce Businesses?
If you have an e-commerce business, returns processing is a solution you must provide for your consumers. Returns management in e-commerce is necessary as the possibility of consumers being dissatisfied with their order is higher than shopping in a brick-and-mortar store. Although e-commerce returns management costs money, it’s the right investment to resolve customer issues and boost the reputation of your online store. Here’s why product returns management is so important and the benefits of letting an e-commerce fulfillment center handle it for you. (more…)
How to Grow Your e-Commerce Business with a Third-Party Logistics Company?
Teaming up with a third-party logistics (3PL) e-commerce fulfillment company can provide you with unlimited potential by helping you accommodate growth and ensure an optimal customer experience. If you’re trying to make your business more seamless, cost-effective, and scalable, an experienced 3PL partner can be a very valuable resource. The role of logistics in e-commerce is more vital to a business's success than ever before, so if you’re wondering how to scale your e-commerce business, here’s how a 3PL partner can help you. Ways to Scale Your e-Commerce Business with 3PL Flexibility and Scalability (Accommodate Growth) The growth of e-commerce...E-Commerce Order Fulfillment Strategies to Save Money and Time
It takes a lot of effort to fulfill orders, as there are many challenges that face the supply chain. Thankfully, if you are equipped with the right order fulfillment strategy, you will be able to meet these challenges head on, saving time and money, and reducing stress. Here are some e-commerce order fulfillment processes and tips that will make your life easier, especially when working with a third-party logistics (3PL) partner. Fulfillment Strategies to Improve Efficiency and Save Money and Time Choosing and Processing Order Management Software An essential way to make your job easier is to process the right...
