WareIQ Shipping Insights & Billing

WareIQ Shipping Insights & Billing

January 07, 2021

WareIQ’s warehouse walkthrough

WareIQ’s warehouse walkthrough

January 06, 2021

4 Common eCommerce Pain Points and how WareIQ can help

4 Common eCommerce Pain Points and how WareIQ can help

There can be nine good reasons to place an order on your eCommerce platform but a single bad reason is enough to drive the customer away. Even something that might seem trivial can have a huge impact on deciding if the customer wants to place orders on your platform. In fact, only about 30% of the potential customers complete the same. Why is it so? The answer is simple- you fail to deliver what you promise or your competitor offers a better service and you simply don’t meet the customer expectations. There are two broad ways to tackle this- Enhance the user experience on your website. Ideally, it should be as seamless and optimized as possible. Enhance the overall customer service delivered beyond your website. With changing consumer trends and fast-tracked digital adoption and eCommerce growth due to the COVID-19 pandemic, customer expectations have increased rapidly. It becomes quintessential to improvise subtle aspects of your website and service to beat the competition. In this article, we will discuss various pain points of the supply chain and logistics that can cost your business and how WareIQ can help you in dealing with the same. Hiding shipping costs can be an expensive mistake Cart abandonment (wherein the customer adds items to their cart but doesn’t complete their order) is one of the major problems for eCommerce websites. According to a study by Baymard Institute, up to 50% of the customers quoted extra hidden charges from shipping as the reason for abandoning the cart at checkout. Customers prefer to know the total cost of the product right away. Any additional costs popping up during checkout can be an unpleasant experience. It can suddenly feel like too much or out of their budget. Conversion becomes difficult and the customer would be prompted to explore other options to try to get a cheaper deal. The solution - Let the customer know the shipping charges before the final checkout. Ideally, a modern-day customer expects free shipping (at least at a certain price threshold). Firms like Amazon have set high benchmarks for the same with their free prime delivery. What if you are unable to provide free shipping or even reduce the cost of the same? Showing it upfront can make everything look costly for the consumer. This can be addressed in multiple ways. You can modify your pricing strategy to cover the shipping charges within the product cost but brand yourself for free deliveries. You can bore the shipping expenses from your side on behalf of the customer to improve loyalty/retention and hope that the net long term revenue is improved. You make a smart choice to partner with WareIQ and actually reduce your shipping charges significantly- a win-win for both the seller and the buyer. So, how exactly is WareIQ able to do it? It is the result of a PAN-India decentralised network that WareIQ hosts to make shipping efficient and cost-effective. With optimised inventory placement closer to the customer, shipping charges are reduced. Customer service can get affected by things beyond your control The level of customer service provided is directly reflected in the online reviews and word of mouth recommendations. In many cases, mistakes by a 3PL provider or some external agent in the supply chain can affect the consumer-facing brand value. For example, a delayed delivery by your logistics provider brings a negative review to your brand. The reputation you hold among your customers is influenced both by how you deal with customer complaints or assist them online as well as the offline ecosystem you work with. What’s worse than a delayed delivery is not addressing it on time and being accountable by giving personalised feedback to the customer. With WareIQ in the picture, a lot of things become easy to manage. Firstly, you need not worry about the delivery part and how shipments are handled by the offline staff. You will also be provided with a branded tracking page to take timely actions as required. RTOs/NDRs are also efficiently handled by WareIQ without any delays. It enables you to have faster returns processing with quicker and more efficient returns approval, pickup and cash recovery cycle. Ageing inventory and how to deal with it Have you ever faced issues with your stock cluttering up in your warehouse? Slow-moving products and those in low demand can be difficult to sell. They end up taking your precious inventory space. This can directly increase your operational costs. On top of this, going out of stock frequently for high demand products is a huge red flag for the business. If customers don’t get the products they want and when they want it, they will simply lose their trust and loyalty in your services. Poor inventory managed can also lead to misplaced orders, delayed deliveries, and poor tracking- all of which can directly affect your sales and have a long term impact on your business. All these issues can be tackled with smart inventory management that WareIQ provides. Once you plug in WareIQ into your supply chain, you can generate insight on inventory placements by locations to offer fast shipping. WareIQ will then take care of optimally shipping the inventory to the customers. It can also recommend inventory placement across their decentralised network based on supply and demand trends ensuring that the stock is available where it should be. WareIQ shipping engine is integrated to all major national couriers & same-day delivery providers. Sellers can go by default “Intelligent Mode” or easily configure their own preferences. Handling the issues due to low quality/untrained on-ground personnel Your customer has placed the order and you have taken care of all the logistics required smoothly and shipped it successfully. What can go wrong now? In fact, a lot of things in the last-mile delivery, which actually puts the product in your customer’s hands- the ultimate end goal. We have seen in a previous article on how WareIQ can help you deal with these challenges. One of the major issues you can face is with the on-ground personnel who don’t handle the packages well and make mistakes with the delivery. A lot of the last mile challenges due to poor handling can be overcome with smart customized solutions that WareIQ provides. Customers expect to get their package delivered without any hitches and experience a smooth unboxing. Branded packaging helps. It also makes it easy for delivery personnel to handle it. Amazon is a great example in this context, and WareIQ can provide the same level of experience with its predefined packing guidelines. Sellers can also avail discounted rates from the supplier network with branded packaging options. With a robust tracking system in place, things get easy to monitor. Endnotes Addressing the eCommerce pain points where a third party is the cause of them can be difficult. If there is some issue with your online website, you can probably seek some optimization with your in house developer team or your software vendor. In case of offline issues in the supply chain like we have seen, things get tricky with a lot of variables involved. Partnering with someone trusted and efficient like WareIQ, which has the technology and infrastructure to deal with such issues at scale can immensely help in mitigating the same.

December 10, 2020

Building a Next-day shipping engine for your business

Building a Next-day shipping engine for your business

As increasing consumer demand accelerates e-commerce growth, the logistics of getting orders to customers becomes more complicated - especially with the novel coronavirus impacting entire supply chains. Despite the uncertain times (or more so during this time), one thing remains unchanged; the customer's need for fast delivery. Popularized by Amazon, same-day and next-day delivery has become the default expectation today. In fact, studies by PwC & Accenture reveal that: 61% of consumers are willing to pay more for 1-day shipping speed and 40% of customers prefer to shop from stores that offer 2-day shipping. More than (51%) half of retailers offer same-day delivery and 65% plan to offer it within two years.  Fast shipping is no longer a good-to-have but rather a necessity for e-commerce businesses to survive. Amazon has built a supply chain that can deliver most products within 2-day (and high moving goods the same day). They optimize every part of the fulfilment value chain to achieve these timelines. But can other e-commerce sellers provide the same experience without Amazon-level resources?  Yes, they can.  How?  To optimize the fulfilment cycle, we must first understand the ‘Click to Door’ journey - all the different stages and destinations an order goes through before it reaches your customer. Click to Door journey What does it take for an order to reach your customer? Let’s take a look.  Pack & Ship: The journey starts with your warehouse, where the order has to be packed and labeled. This could typically take 1-2 days depending on order volume and your warehouse's manpower productivity.First Mile Delivery: The order is collected from your warehouse by a courier partner and shipped to the distribution center. Typically, the pick-up schedule is once a day if the warehouse is located in the metros. In case of larger order volumes, courier partners can also schedule multiple pick-ups every day.Mid Mile Delivery: This stage involves the transfer from one hub to another. All collected parcels are aggregated based on to and fro zones and moved together. The mid mile process, typically, takes one day. Local Sorting Center: Once the order reaches the delivery target zone hub, it is passed to the local sorting center based on the area of delivery. This typically takes anywhere from half a day to two days. Last Mile Delivery: Finally, the order is picked up from the sorting center and aggregated with multiple orders going to the same pin code and assigned to a delivery boy.  The entire process is inherently long and relies on the productivity of your distribution partners and the partnership that you have with them. Inefficiencies in either of these stages can lead to significant delays and unhappy customers, i.e. lost revenue for your business.  How can you optimize the process? To build an efficient shipping engine, your logistics network must be efficient. This incorporates a mix of partners, resources, and best practices designed to help you optimise. Schedule multiple pickups in a dayStore goods in distributed warehouses close to your demandPartner with same-day delivery partners While you can implement the above processes yourself, it may require a lot of initial investment and stretch your capacities. A good alternative would be to partner with companies that offer logistics support. This is where we come in. Modern logistics partners such as WareIQ unifies network, technology, and expertise to offer end-to-end fulfilment services allowing you to focus on your core business and not worry about logistics. With WareIQ you get: The ability to store inventory in several of the fulfilment centers so you don’t have to manage your own warehouse(s)Robust technology that tracks your inventory and orders and offers advanced analyticsThe e-commerce logistics expertise needed to improve your supply chainBulk discounts and ability to reduce your delivery times and shipping costs [contactus] Many growing e-commerce businesses like Kama Ayurveda, Wingreens Farms, Sangeetha Mobiles, and Organic Riot partner with WareIQ to offer next-day shipping. WareIQ helps you shorten your orders’ click to door journey and make the entire process more efficient [signup] With WareIQ's infrastructure and technology, you can ship 90% of orders across India in 1 day. Such delivery timelines translate to not only cheaper logistics costs but an elevated customer experience, resulting in higher conversions and lower cart abandonment.

November 11, 2020