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 you can protect your 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
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 are some challenges they can help you with.
Challenges Faced by Startups
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.
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’ 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
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 order management software. There are many options out there, so you should evaluate the features of your options and compare them with the needs of your organization and your customers. Once you’ve considered these factors, choose a program that streamlines the entire ordering process. Even better, you can work with an order fulfillment company that already uses order management software. They will be able to monitor your processes for you and provide you with real-time updates, so you can make informed decisions about your operations.
The way your customers feel about your organization, and the way they purchase items from your brick-and-mortar or online store is strongly impacted by your order fulfillment customer service. The order fulfillment process deals with all the responsibilities of an organization from the point of a customer’s order being received, to delivering the finished goods to their doorstep. If you implement the right strategies, you will be able to fulfill their demand on time, and thereby attract new customers, while retaining loyal ones. Performance order fulfillment metrics can help you track different data dealing with your inventory, to help you provide the best communication and services to your customers. If you’re ready to boost your e-commerce customer satisfaction rate, here’s what you need to know about customer order fulfillment metrics.
e-Commerce Order Fulfillment and Customer Satisfaction
According to Generally Accepted Accounting Principles (GAAP) and IRS rules, it’s expected that businesses that store items in a warehouse conduct an inventory count periodically. There are two main options used by companies today: the physical inventory process and cycle counting. There are benefits of inventory cycle counting and physical inventory counts, but one of these methods may be the better option for you. Here’s what you need to know about cycle count vs. physical inventory and how to decide which is best for you.
What Is a Cycle Counting Process?
A warehouse cycle counting process is an inventory auditing procedure that is a part of an inventory management solution. In this procedure, a small subset of inventory in a specific location is counted on a specific day. The cycle counting method is a popular solution for inventory management that enables businesses to count multiple items within the
Warehouse order picking methods are an important aspect within any warehouse. Compared to shipping, storage, and receiving stages, order picking forms as much as 55% of operation costs in a distribution center. It also has a direct impact on how satisfied your customers are. If your picking methods in the warehouse are quick and accurate, your business will succeed. Here’s what you need to know about order picking and how to implement the key warehouse picking best practices.
What Is Order Picking?
Order picking is the process of selecting items from a warehouse inventory, to satisfy several independent customer orders. This is an important part of the supply chain process and has been considered the most labor-intensive and expensive activity for every warehouse. As mentioned, the cost of order picking is estimated to be as much is 55% of all warehouse
Are you tired of losing sales and customers because you realize too late that you are out of stock of certain products? Are you tired of customers complaining that they have received the wrong item? If so, it is time to improve inventory accuracy in your warehouse. By accurately tracking your products you will be able to improve your performance as a business and run more efficient operations. The importance of effective inventory management should be recognized by all parties of a warehouse, so if you want to learn more about the importance of inventory accuracy, or how to achieve inventory accuracy, here’s are some points to consider.