5 Easy Steps to Find and Choose a Fulfillment Center for eCommerce Sellers in 2024

eCommerce as an industry comprises many different processes that are involved in multiple business facets. However, the main goal is to get customers to purchase your products and deliver the items to them, so you can eventually make back the money you spent on research and development, production, marketing, and order fulfillment. In order to carry out all these tasks seamlessly and without any overlap or conflicts of interest, there needs to be a secure location where multiple processes can happen without any external constraints. For instance, most eCommerce companies require a storage facility where they can keep their inventory to prepare for upcoming fulfilling orders throughout the year and also has the necessary infrastructure in place to organise, locate, pack and dispatch inventory whenever a new order comes in. Fulfillment centers not only accomplish these things but can also have multiple other benefits for your business. In this blog, we will take a look at the meaning, benefits, and 5 ways to choose a fulfillment center for eCommerce. What is a Fulfillment Center? A fulfillment center is a type of storage facility or distribution center where inventory is received, stored, and then packaged and ultimately shipped to customers every time an order is confirmed. These centers are used by companies that sell goods online for multiple applications, such as D2C, B2B, B2C and more, to handle the logistics of getting products to customers in a timely and efficient manner. Fulfillment centers are often operated by third-party fulfillment companies that specialize in order fulfillment and logistics. Additionally, they also run some impressive technology behind the scenes, such as WMS software, automated processes, SKU tracking facilities, and much more. This helps with inventory management and makes sure that all your products are stored in their respective locations so that they can be easily accessed and identified when an order comes in. While fulfillment centers enable regional and nationwide order fulfillment for nutrition and wellness product, a new wave of fulfillment centers, termed micro fulfillment centers or “dark stores”, have emerged as a smaller-scale alternative that enables hyper-local fulfillment and sub-30-minute deliveries by using the same philosophy that fulfillment centers operate on, just scaled down to a more localized level. [contactus_lilgoodness] Why Should eCommerce Businesses Use a 3PL Fulfillment Center? Streamlines Monetary Spending Fulfillment centers allow retailers to store and ship large quantities of products at a lower cost than if they were to handle fulfillment in-house. A large part of it is due to the bulkiness and scale of the inventory stored, which aids retailers in getting large discounts for the amount of total storage space they acquire. Additionally, many other important fulfillment services, such as picking, packing fulfillment service and shipping services, take place within fulfillment centers, reducing the need to spend money on doing them, either in-house or externally. All these factors together contribute to an improved use of financial resources since partnering with a fulfillment company and using their fulfillment centers is a single, recurring expense. Takes Care of Inventory Management and Storage Fulfillment centers use advanced technology to quickly and accurately pick, pack and dispatch products, which can help increase efficiency and reduce errors. The use of WMS software in most fulfillment centers also helps with improving inventory management processes by optimizing storage locations based on factors such as size, dimensions, value and nature of individual products. Items can also be grouped together to make the best use of the available storage space. This helps increase storage capacity and enables you to store your products in an easy-to-identify and accessible way. Improves the Overall Customer Experience Fulfillment centers can help you offer faster shipping times and a wider range of delivery options, which can improve customer satisfaction and loyalty. Additional services, such as branded packaging, order tracking and returns management, can also be in place, depending on the company’s offerings, making sure that customers have a one-of-a-kind experience when they purchase an item from your store. Due to the optimization of many fulfillment services, transit times and errors will also be cut short, adding to the enhanced experience that customers will have. Provides Increased Flexibility In many fulfillment centers, you can choose from a variety of fulfillment-related services, from kitting and assembly to returns processing and inventory management, to create a customized fulfillment solution that meets their specific needs. Many companies also offer flexible payment schemes where you only need to pay for the facilities you use. This can help your business seize control of its expenses and help it get assistance in the areas where it really needs it, while saving money in other areas where you don’t need any external help. You can also focus on their core business, such as marketing and customer service, while the fulfillment center handles the logistics of getting products to customers. Offers Enhanced Scalability Fulfillment centers can accommodate your growth and can handle an increase in orders during peak seasons due to their ability to ascertain the most efficient way to store inventory. Additionally, most companies provide multiple fulfillment centers so you never have to worry about running out of storage space. Many companies also equip their fulfillment centers with the necessary tools to help with scaling up operations in terms of inventory management, storage, and order fulfillment. Because of this, your business can seamlessly scale its eCommerce operations while also making sure that quality and organization are maintained. Choose a Fulfillment Center for eCommerce With These 5 Easy Steps Step 1: Get the Business Data like Product Dimensions & Weight, Required Storage Space, Current Daily Order Volumes, Demand Centers, etc. Ready Source When you choose a fulfillment center for eCommerce, it is important to provide your prospective 3PL company with all the information they need to give you a proposal for their list of services and a quotation for what they are offering. Because fulfillment centers will be the primary storage facility for your inventory, from where they will be dispatched and eventually delivered to customers, you need to supply data such as your entire product catalog, current order volume and sales figures, estimated demand for a specified future time period, historical inventory data and more. Additionally, you will also need to mention more nuanced details about the products you are planning to store, such as their dimensions, value, price, weight and more, so the fulfillment center provider can successfully ascertain how much storage space you’d require and the facilities you’d need. Step 2: Shortlist Storage or Warehouse Location(s) that Optimizes the Speed of Delivery Source It is important to conduct some research and identify which regions the majority of your orders are coming from. This will allow you to choose a any fulfillment center for eCommerce such as woocommerce fulfillment that is in close proximity to your customers so that orders can be delivered faster and more cost-effectively. Many companies provide storage networks that span various regions and metropolitan areas, so knowing where you need to ship your items will give you a good idea of where they need to be stored. You should also determine the scale of your inventory and whether it will need to be stored across multiple fulfillment center locations or if just one will suffice so you can preemptively gauge what your storage costs will be and take the necessary steps to reduce them. Step 3: Identify Your Business Requirements Source Not all fulfillment centers offer the exact same facilities. While most of them offer basic storage units and other relevant technology, such as WMS software and product tracking capabilities, some provide more meticulous features and specialised services for specific types of products, such as heavy machinery for bulky items, cold storage for perishable goods and storage bays that can store hazardous materials. If you deal in unconventional products or require a specific type of service, it is important to understand the steps your storage facility needs to take in order to store them securely and preserve their shelf life. Step 4: Examine the Quality and Pricing Quotations of Various Fulfillment Services Source Fortunately for sellers, there are many competing companies vying to participate in providing storage facilities and other services. While choosing a fulfillment center for eCommerce, it is important to get offers and pricing quotations from multiple options so you can compare them with your own requirements, and short term and long term goals. For instance, a company may have the facilities you need right now but may not have good enough scalability. Thus, choosing such a company will be based on your own sales numbers and expansion prospects. Conversely, there are companies that also provide a wide range of features so you need to analyse whether you would actually use those services or be better suited opting for a cheaper company that provides the right balance of essentials. Step 5: Choose the Fulfillment Center and FC Locations That Aligns with Operational Goals in Terms of Cost and Scalability Source The last step involved in choosing a fulfillment center for your eCommerce business is actually shortlisting a company and biting the bullet. We have already highlighted the importance of their services coinciding with your objectives, so you should only make this decision after careful deliberation. If all goes well, you can use the same company for years to come and can take its assistance with scaling your services. On the flip side, if you just need an urgent storage facility that doesn’t break the bank, you can identify an option that fits the bill. Either way, make sure to choose one that can fit your current warehouse capacity and that can provide additional facilities in the future if and when you need them. This will help you have a good relationship with the company and also prevent the need of searching for one again in a hurry. Conclusion: Utilize WareIQ’s Nationwide Fulfillment Center Network to Enhance Your Services Fulfillment centers play a crucial role in the eCommerce industry by helping retailers handle logistics and improve customer satisfaction. By utilizing the benefits that fulfillment centers offer, you can streamline their operations, save money and increase revenue. By offloading most logistics and distribution managemen tasks to fulfillment centers and the 3PL companies that operate them, you will also have more time and freedom to explore different retail options, launch new products, and market existing ones. Keep in mind that not all fulfillment centers are the same and there can be major disparities in the scope and applications of the facilities they offer. Compare your requirements with the services your prospective 3PL company offers and choose the one that coincides with your vision the best. If you need access to a nationwide network of fulfillment centers with all the bells and whistles, consider partnering with WareIQ. WareIQ is one of India’s fastest-expanding eCommerce fulfillment companies. eCommerce fulfillment is our bread and butter and we help our clients get exposure to success by giving them access to multiple facilities. Some of them are listed below: Nationwide Fulfillment Center Network We offer a pan-India storage network of fulfillment centers and dark stores that aid in your products being stored in close proximity to areas of high demand, ensuring that orders are always fulfilled on time. Intelligent Inventory Placement We provide AI and ML-based recommendations to help you get the most out of every SKU by storing them specifically where they are likely to be sold. Product Categorization To improve your sell-through rates, we can intelligently classify your SKUs depending on their performance, demand and other variables. Outstanding Forecasting Techniques We assist you with demand forecasting using past data so that you can adjust your inventory levels more effectively. Automated Stock Replacement To guarantee that your best-selling products are constantly in stock, we offer automated stock replenishment alerts that can be customised according to your preferences. Choose a Fulfillment Center for eCommerce: FAQs What are some of the factors to consider when choosing a fulfillment center for eCommerce?There are many factors to keep in mind while choosing a fulfillment center for your products. Some of them are listed below:- Location- Storage capacity- Shipping capabilities- Order processing- Returns management How do fulfillment centers work?Fulfillment centers receive products from manufacturers or distributors, store them in their warehouse and then ship them to customers when an order is placed. They typically use advanced technology and software to track inventory and manage orders. What services do fulfillment centers offer?Fulfillment centers typically offer a variety of services. Some of them are listed below:- Inventory storage- Product packaging- Order shipping- Returns management- Customer service How are items stored in a fulfillment center?Items are typically stored in a warehouse and organized by SKU or product category. They are often stored on shelves or in bins and retrieved using forklifts or other equipment. How do fulfillment centers handle shipping?Fulfillment centers package and ship orders using a variety of shipping carriers such as UPS, FedEx, and DHL. They also handle customs and import/export documentation for international orders.

January 25, 2023

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How multi-piece-shipment (MPS) can potentially reduce your logistics cost by half?

In e-commerce, a multi-piece shipment refers to a single order that is fulfilled using more than one package. This can occur when an order is too large to fit in a single shipment. E-commerce companies from various categories may use multi-piece shipments, but it is most commonly used in the following categories: Fashion and apparel: Ship multiple items, such as clothing and accessories, in one package to customers.Home goods and furniture: Large items such as furniture and appliances are processed as Multi-piece ShipmentsElectronics and technology: Ship multiple items, such as cell phones and computers, in one package to customers.Beauty and personal care: Makeup and skincare products are put into one package and shipped to customers.Grocery and household items: Food and household supplies are delivered in one package to customers.Books and media: Multiple items such as books, movies, and music, are shipped in one package to customers.Toys and games: Usually ship multiple items, such as toys and games, in one package to customers. However, not all e-commerce companies from the aforementioned categories use multi-piece shipments. Ultimately, it depends on their specific business needs. Cost-Saving Potential of Multi-Piece Shipments (MPS) Multi-piece shipments, or consolidated shipments, have the potential to save costs in several ways. Reduced shipping costs: By consolidating multiple items into one shipment, the overall shipping cost per item may be reduced.Reduced risk of damage or loss: Consolidation of multiple items leads to lesser exchanges at hubs and thus lesser risk of damage or lossReduced inventory holding costs: Consolidating multiple items into one shipment allows for more efficient use of warehouse space, which can reduce inventory holding costs.Reduced handling costs: Elimination of multiple pick-ups and deliveries leads to a reduction of handling costs associated with each individual package.Reduced packaging costs: The need for multiple packages and their associated costs (e.g. boxes, packaging materials, etc.) is eliminated due to the consolidation of multiple items. Here is an example to illustrate how multi-piece shipments can save logistics costs, and significantly improve the consumer experience. "Imagine a mattress brand receiving an order of a mattress, a pillow, and a comforter from a customer setting up his new house. If the brand’s fulfillment company divided it into three packages - one for the mattress, one for the pillow, and one for the soft furnishing - the shipping cost would be INR 900. On the other hand, if the entire order was shipped in a single multi-piece package, the total shipping cost would be roughly INR 390. This is a logistics cost saving of INR 490 per order!"- Harsh Vaidya, CEO, WareIQ Illustrative example to showcase the cost-saving potential of Mult-piece Shipments (MPS) What happens in absence of Multi-piece Shipment (MPS) capability? In absence of MPS, customers, generally, receive a broken brand experience. Different ETAs for potentially complementary productsDifficulty in tracking all orders in a single placeHigher cost of deliveriesDelay in deliveries of different items from the same order This leads to overall negative customer sentiment toward the brand and higher levels of customer dissatisfaction What is required to process Multi-piece Shipments (MPS)? A confluence of smart technology to efficiently manage orders and inventory and skilled people and operations are what make Multi-piece Shipments (MPS) possible. WareIQ's smart fulfillment capabilities combine the above in the following form to enable MPS for brands and sellers across categories and channels: Order Management system with the ability to add more packages to shipment detailsFulfillment tech in the warehouse provides staff visibility on the Order IDs, and SKUs to be clubbed together, and scan-based operations to make it error-freeUnified tracking engine with the ability to club multiple AWBs into oneTraining of the FC staff on the nuances of this use-case Here's a look at how WareIQ helps sellers in creating Multi-Piece Shipments (MPS) easily in just a few clicks: https://youtu.be/msaJVAtlCvU Enabling Multi-piece Shipment (MPS) using WareIQ

January 23, 2023

What is Warehouse Automation Technology and How Does It Work? Significant Advantages of Warehouse Automation and Automation Trends to Watch Out for in 2024 [Complete Guide]

The market leaders have set the bar for supply chain modernization and innovation in light of the industry's overall trend toward automation. Automation is now more of a need than a luxury as a result. But more than adding automation to a warehouse is required. A complete view of your entire website aids in planning and locating potential bottleneck locations. Customization of automated systems is now essential from the beginning of the warehouse KPI's line to its conclusion. Finding out exactly how a warehouse handles daily problems gives you the advantage. Enough indicates that to have your operations function as efficiently as possible, you must have an integrated solutions process that covers the complete system. When the technology first became widely accepted, it was believed that only large corporations could use it to their financial advantage. Their production was increased, turnaround times decreased, throughput and capacity were optimised, and expenses significantly decreased. Small and medium-sized enterprises can now affordably utilise automation thanks to the technology's expanded accessibility. A study predicts that robotics and warehouse automation will boost productivity by 25% to 70% and save operational expenses by 20% to 40% by 2025. Warehouse automation benefits businesses by giving them a competitive edge in the market. With it, it's easier to maintain your warehouse's efficiency and optimal productivity levels due to several difficulties. These warehouse difficulties include human error, expensive operations, safety risks, and lengthy processing times. To keep your process efficient, warehouse automation offers several advantages. This article outlines the seven advantages of warehouse automation that will increase your warehouse's productivity. Let's first examine what warehouse automation is and its advantages. What Is Warehouse Automation Technology? Technology and automation increase warehouse operations' effectiveness, precision, putaway and safety. This can involve robotics, conveyor systems, automated storage and retrieval systems, and other cutting-edge technologies to speed up storing, order tracking, and retrieving goods. Automation of warehouses aims to boost output, lower labor expenses, and enhance warehouse operations' overall accuracy and effectiveness. Depending on the unique requirements of the warehouse and the products being stored, many systems and equipment can be a part of warehouse automation technology. How Does Warehouse Automation Function? Automation allows repetitive, tiresome jobs to be completed with minimal human labour, whether in warehousing or any other situation. Hand-packing 1,000 products will get tiresome very soon if you need to prepare them for delivery and fulfillment. Using automation technology to finish the job, humans are spared from doing tedious work for hours and are given more time to focus on more challenging jobs. Automation can be helpful for any process that involves repetitive labour. Nevertheless, contemporary technology, such as drones and machine learning, prepares the way for warehouse automation solutions to carry out more difficult, non-repetitive jobs. Automation refers to a machine or conveyor belt operating continuously in a fixed position. To implement solution designs, engineers had to foresee their most considerable volume requirements, which made many automation projects prohibitively expensive if accurate volume fell short of estimates. On the other hand, modern warehouse automation systems frequently involve robots and cranes that can carry out a variety of simple and complex jobs and can be deployed according to the operation's needs. Collaborative robotic systems are one example of an automation system that uses machine learning and artificial intelligence to optimise operations in real time based on warehouse constraints and operational priorities. 6 Types of Warehouse Automation Technology Under the broad category of warehouse automation are many technologies that support human employees or complete jobs from beginning to end. To maintain inventory and distribute items, warehouses are intricate operations that handle various duties and processes. The solutions for automating warehouses come in a wide range of configurations and incorporate different technologies: Automated Systems for Dimensioning Source Automated dimensioning systems are made to take physical measurements of pallets and packages using infrared, camera, weighing, and barcode technology. Automated dimensioning systems for warehouses come in two varieties: Automated Dimensioning Systems for Parcels A three-dimensional or irregularly shaped parcel's dimensions (length, width, and height), weight, and photographs can all be quickly recorded via an automated parcel dimensioning system. The laborious package dimensioning procedure is automated, and human error is effectively removed. Automated Dimensioning Systems for Pallets A warehouse technology called an automated pallet dimensioning system automates the procedures of weight, picture capture, and pallet dimensioning (length, breadth, and height). It is specially made for rapidly and precisely measuring irregularly shaped and cubic pallets. Goods-to-person (GTP) Technologies Robots or other equipment transporting products to employees for assembly or packaging are typically used in goods-to-person (GTP) systems. It might use cranes or cars that roam the warehouse collecting materials. GTP offers conveyor systems as well as automated storage and retrieval options. Automated storage and retrieval systems (AS/RS): When most people think of automated warehouse solutions, AS/RS are primarily pictures. AS/RS is a type of GTP technology that uses cars, cranes, and carousels to move objects throughout warehouses and put them in storage areas.Conveyor System: Another form of GTP technology is conveyor systems. Conveyors transport inventory to work locations like packaging and shipping or sorting areas by moving products around or along assembly lines. Computerized Systems for Sorting A conveyor system's items can be automatically identified, sorted, and directed to particular warehouse locations using automated sortation systems, such as: Picking and PackagingProcessing ReturnsLoading and Unloading Depending on the product type, these warehouse automation systems employ various sorting techniques using RFID, barcode scanners, and other sensors. Due to improved warehouse operations, there will be less handling of orders and fewer growth restrictions. Automatic Guided Vehicles (AGVs) Source AGVs traverse a predetermined path across the warehouse using magnetic strips, floor markers (stickers), wires, lasers, cameras, and other sensors. Only large, straightforward warehouse settings with properly created navigation layouts may accommodate these warehouse automation systems. AGVs are not recommended for complicated warehouses with limited space and a high volume of human traffic. Grand View Research predicts that from 2019 to 2025, the global market for AGVs would expand at a CAGR of more than 15.8%. Autonomous Mobile Robots (AMRs) Source AMRs use inbuilt sensors, cameras, and computers to move through a warehouse more effectively than AGVs, making them more adaptable and intelligent. AMRs, in contrast to AGVs, which have a predetermined course, are sentient and process paths in real time. AMRs can move materials independently without physical guides or other markers. These robots are explicitly made for warehouses to handle labour-intensive, high-volume needs. They can operate in settings with human employees safely because of in-built sophisticated guiding algorithms that can detect different barriers. Drones Source One of the most cutting-edge sorts of warehouse automation solutions that can raise the calibre of warehouse operations is the usage of drones. Unmanned aerial vehicles (UAVs), commonly referred to as drones, are sophisticated flying machines that find cargo, carry out inventory counts, etc., using optical sensors, infrared cameras, barcode scanners, RFID technology, etc. If any item is in the incorrect storage location or the products require replenishing, they automatically transmit alerts. They can access even the deepest corners of a warehouse. In 2029, more than 13 million drones will be used worldwide, up from 989,000 in 2019, predicts Gartner. Drones can inspect inventories faster than traditional human methods, saving hundreds of person-hours. Drones are a much safer alternative to manual counting using large machinery like forklifts, scissor lifts, and man-cages. 7 Significant Advantages of Warehouse Automation Due to the reduced time, effort, and errors manual operations create, warehouse automation is a crucial component of supply chain optimization. Here are a few benefits that warehouse automation can offer your company. Reduced Error Rate When clients receive the wrong orders, it is a major catastrophe for online retailers, and the customer's faith is frequently lost. The number of decisions that warehouse staff must make can be decreased via warehouse automation, eliminating pick-and-pack mistakes and increasing order accuracy. Although no system can ever be entirely exact, automated systems can undoubtedly increase human accuracy. Automated systems can recognise and fix faults as soon as they happen. In picking activities, automated systems have essentially flawless precision and accuracy. Increased Workforce Efficiency We do not necessarily need to replace workers with robots due to automation. Automation has the advantage of getting rid of more tedious and repetitive tasks. Automation in the warehouse can increase worker happiness, enable workers to execute their responsibilities more quickly and accurately and free them up to concentrate on things that provide value. In short, warehouse automation streamlines supply chain procedures and prevents resource wastage. Additionally, warehouse automation is functional during peak business activity and demand, such as holidays. On the one hand, automation can cut hiring costs and personnel turnover, eliminating the need for temporary workers who regularly need training. On the other hand, when business is sluggish, automated systems malfunction and layoffs are unnecessary. Increased Productivity at the Warehouse In comparison to robots, humans are incredibly slow and inaccurate. However, humans also possess a cognitive ability that robots cannot match. They work well together as warehouse automation systems. Automation can help reduce touchpoints and inefficient processes throughout the warehouse because most warehouse tasks are repetitive and time-consuming. Since warehouse automation technology can instantaneously locate every item in a specific sequence, workers can move items and pick less frequently. Warehouse automation can speed up order delivery when conveyor workstations and robots are used. The entire process will be streamlined and accelerated, dramatically increasing the warehouse's total production. Faster and More Efficient Processing The ability to accelerate operations and reduce handling time is another advantage of warehouse automation. Robots are more accurate and move at a faster rate than humans. Warehouse automation technologies expedite the measurement process and quickly and correctly record a package's dimensions, weight, and picture. When you need to measure thousands of shipments, it saves time. On the other hand, automated warehouse workflows let you employ particular triggers to carry out several actions without requiring human involvement. It is a worthwhile and essential investment for warehouses because of this automation. Maximum Utilization of Space Available Storage space in warehouses can be maximised with robotic and automated systems. Automated warehouses accomplish this, among other things, by narrowing the aisles. Automated warehouses don't need extra aisle spacing to meet safety standards because machines don't need as much room to function as people do, which can increase warehouse storage efficiency. In addition, the chosen solution is an automated three-dimensional warehouse. Then, its high-rise shelves can better use the space at hand and increase the number of items held per square foot. In the same area, an automated three-dimensional warehouse has a storage capacity that is several or even ten times greater than an ordinary warehouse. The automated three-dimensional warehouse can thus save a significant amount of area while maintaining the same storage capacity. Better Inventory Control Your company has several difficulties, including unpredictable markets, high customer demands for faster shipment, and shaky supply chains. Supply and demand management is now too complicated to be handled manually without incurring significant risk. An automation solution is required! Automation has many advantages, particularly in improving inventory control, avoiding stockouts and shortages, adjusting to market changes, and enabling just-in-time manufacturing and demand forecasting. Information on specific inventory locations can be tracked by AI automation. The data is accurate and simple to evaluate for intelligence because it is always available. It can send much pertinent information quickly and precisely to managers, assisting them in making better and more informed decisions. Lower Operating Costs It is accurate to say that investing in warehouse automation is costly, complex, and possibly dangerous. But have you considered the expenses of a poorly run warehouse? Initial costs are negligible, but over time, out-of-stock situations, poor customer service, and dissatisfied clients can be fatal to your company. The cost of warehouse automation initiatives is, without a doubt, high, but they often yield positive results rapidly. Due to the numerous new sources of savings that warehouse automation offers, the ROI was remarkably swift. For instance, lowering administrative and training expenses for staff, maximising product handling and storage costs, avoiding inventory errors, and removing the possibility of product loss and maltreatment. Key Emerging Trends In Warehouse Automation Technology to Watch Out in 2023 eCommerce is flourishing, and everyone wants their purchases delivered on the same day without paying more. The logistics chain is under a lot of strain right now. Therefore, warehouse automation technology needs to advance to compete and thrive. There is no denying that warehouse automation significantly impacts efficiency, production, and safety. Automation is the best approach to boost a warehouse's productivity. What are the significant advancements and trends in the eCommerce warehousing sector, though? You can alternatively check eCommerce shipping trends. Cloud-based Warehouse Management Systems (WMS) Warehouse management systems (WMS) can now be offered as cloud-based services that can be accessed online, similar to many other digital solutions available today. This immediately relieves customers of the high expense and inconvenience associated with setting up and managing servers, software, and other IT resources. You can start seeing a return on your WMS investment immediately because initial implementation and subsequent upgrades are quicker and simpler. The supplier is entirely responsible for ensuring your system is functioning correctly. Your system can be automatically upgraded as part of the WMS subscription if better software becomes available. It is simpler and less expensive to reconfigure cloud-based systems to accommodate a company's changing size, complexity, and market conditions than it is to do so with a site-based WMS. In some circumstances, costs can be further decreased by opting for a software-as-a-service (SaaS) subscription rather than purchasing software licences. Large and potent cloud-based WMS suppliers may also offer advantages like superior cybersecurity, quick processing, and round-the-clock maintenance services. Data Analytics and Big Data Modern "smart" warehouses scan products and employ sensors on materials handling and other equipment to collect massive amounts of data automatically. The resulting datasets would have previously needed to be more significant and more time-consuming to analyse comprehensively. Now that practical analytics tools are readily available, that work is quick and automatic. Analytics tools can spot trends in your data that would otherwise go undetected. They also provide your company with the knowledge that may be used to make better decisions and advance. Managers could ensure the quickest possible flow of goods by analyzing data on orders and inventory. Analyzing data on warehouse activities can help optimize the usage of manpower and equipment for material handling to increase productivity. It is possible to study data on mishaps and near misses to determine the underlying causes and the steps that must be taken to lower risks. Monitoring the state of your equipment and determining the optimal maintenance strategy is one of the numerous uses of big data and analytics. This lessens downtime, lowers repair costs, and increases asset life. Suggested Read: What is Smart Warehouse Management System? Collaborative Robots (COBOTS) Source Collaborative mobile robots help employees pick items accurately and efficiently by directing them through the picking process. Cobots are designed to simplify a worker's life. Some collaborative mobile robots optimise picking routes and tasks depending on the warehouse's condition and the jobs' order. Cobots can also be helpful in other warehouse tasks like picking and palletizing. Collaborative mobile robots provide many benefits, including greater productivity, reduced walking time, flexibility, reliability, and scalability. Internet of Things (IoT) Although not an emerging technology, RFID sensors are vital to new Internet of Things applications that improve warehouse and supply chain efficiency. IoT improves warehouse visibility by providing real-time location information for goods and equipment. Better data gathering across systems is made possible by the portability, affordability, and real-time inventory monitoring capabilities of RFID sensors. IoT or intelligent devices can enable anything from lighting to packaging monitoring. For instance, RFID tags attached to product packaging may track every movement of goods inside the warehouse and even outside of it, from where the warehouse's inventory is stored on shelves to where goods are being transported. IoT-capable sensors, such as RFID tags, can track the movement of goods in your warehouse in real-time. IoT technology enables you to get automatic updates on inventory levels. When these data are aggregated over time, they offer insightful information about demand and can help with more precise forecasting, letting you know which things must always be in stock. The Internet of Things (IoT) drives AMRs and AGVs, many of which rely on sensor technology to find their way across intricate warehouse floors. Voice Assistance Technology The capacity to operate multiple gadgets, procedures and interfaces using your voice enhances the "smart" technology experience. Voice assistant technology can significantly enhance operations and safety by lowering employee distraction when used in a typical facility and integrated with warehouse automation. Simply speaking over a microphone to engage a remote bot to grab the products can finish order picking. Voice assistance technology can be particularly useful when dialling for assistance, turning on and off lights, and dealing with machinery. The same assistants can provide virtual content to support staff in the actual world when used in conjunction with Augmented Reality, or AR, which brings us to the following major trend. Conclusion The appropriate warehouse automation solutions can provide various advantages to keep your operations efficient. Automation in the warehouse decreases human error, saves operational expenses, boosts warehouse productivity, eliminates safety concerns, makes the most use of available space, speeds up processing, and increases customer happiness. Automated warehousing systems can significantly and favourably affect your company, especially over the long term. How Warehouse Automation Technology from WareIQ Can Grow Your Online Retail Businesses Having a 3PL partner can help simplify eCommerce fulfillment management. WareIQ is a technologically advanced 3PL that leverages logistics automation to improve order fulfillment effectiveness and speed delivery. Thanks to our dependable fulfillment services, integrated logistics and warehouse automation, friendly customer support team, and outstanding technology, you can concentrate on expanding your business while leaving the fulfillment process to us. At WareIQ, we developed our warehouse management system (WMS), which oversees, monitors, and offers efficient inventory management and fulfillment. Without the customer needing to invest in a warehouse, racking, palletizing, or automation systems, we optimise logistics and warehousing automation on their behalf. Our proprietary merchant fulfilment platform interfaces with our WMS distribution and gathers distribution metrics and on-demand data analytics for a transparent view of our fulfilling performance. To save transit time and reduce shipping costs, our system chooses the fulfilment centre that is most convenient for the consumer. Because we are the owners of our WMS, we can update our technology based on real-time client input and give you the best service. [signup] Suggested Read:eCommerce Marketing Automation Warehouse Automation FAQs: Frequently Asked Questions What kinds of automation are there in the warehouse?Automation in the warehouse can take many forms, including tools and robots that help staff with inventory operations from when it enters the warehouse until it leaves. Utilizing warehouse automation systems may lower labour costs, boost safety, and increase warehouse productivity and accuracy. How can the fulfilment process be automated?Two key strategies for automating order fulfilment have already been covered: dropshipping and using third-party logistics providers. Both free your time to concentrate on strategy, marketing, and sales by leaving the fulfilment process in the hands of a logistics provider or manufacturer. What are the benefits of logistics automation for small businesses?Small businesses can outsource their order fulfilment and warehousing by utilising logistics firms' fulfilment services and technologies like WareIQ. Instead of investing in your automation solutions, which may be rather expensive at a modest level, you can use their automation systems. WareIQ offers trim business shipping and fulfilment options in addition to working with established brands. They also provide a Growth Plan for small and medium brands. What is a tool for automating data warehouses?By removing monotonous design, development, deployment, and operating chores from the data warehouse lifecycle, data warehouse automation (DWA) enables IT teams to deliver and manage much more than they ever have before, faster, with fewer project risks, and at a lower cost. How can warehouse automation improve inventory management and tracking?Warehouse automation can improve inventory management and tracking by using technologies such as barcode scanning, RFID, and sensors to accurately and efficiently track the movement and location of goods within the warehouse. Automated systems can also provide real-time inventory data, allowing for more accurate tracking of stock levels and helping to prevent stockouts and overstocking. Additionally, automated systems can improve inventory accuracy by automating tasks such as counting and reconciliation. This allows for more frequent and accurate inventory counts, reducing the risk of errors and improving overall inventory management. Can you provide examples of companies that have successfully implemented warehouse automation?Few examples of companies that have successfully implemented warehouse automation are mentioned below:i) Amazon: The online retail giant has invested heavily in warehouse automation, using technologies such as robots and automated conveyor systems to increase efficiency and reduce costs.ii) Zappos: The online shoe retailer has implemented automated systems in its warehouses, including automated storage and retrieval systems and robots that can pick and pack items for shipping.iii) Ocado: The British online grocery retailer uses a highly automated warehouse system, including robots that can pick and pack items for delivery.iv) L'Oréal: the French cosmetics company automated its warehouse operations to improve inventory accuracy, reduce labour costs and increase productivity.v) DHL: The German logistics company has implemented a range of automated systems in its warehouses, including automated guided vehicles and robots for picking and packing.

January 21, 2023

A Detailed Guide on Lead Time in Supply Chain: Definition, Importance, Types, Lead Time Calculation, and Strategies To Reduce Lead Time in Logistics in 2024

The relevance of supply chain management has increased due to global trade growth. In 2020, the value of the global supply chain management market was estimated to be around 16 billion dollars. The procurement and supply chain management software market increased more than twofold during the previous ten years. The so-called global value chains (GVCs), which are the dominant mode of engagement in global economic relations, are made up of these networks of supply chains. The growth of online retail has wholly changed how commerce is conducted. In particular, it has significantly increased client expectations, who now anticipate that orders will be delivered as quickly as possible. Retail enterprises face further obstacles as they compete in a highly cutthroat industry. Effective inventory management and a seamless supply chain must be balanced. Retailers must ensure they have the right products, in the proper quantities, at the correct times. Inventory control can lead to catastrophes, including unfilled or missing client orders and delivery deadlines. Because of this, it's critical for merchants to employ the proper measures to guarantee that consumer orders take only a little time. One such indicator is the lead time in supply chain, which is crucial for general organizing reorders and inventory management. In more detail, we'll define lead time and outline its calculation in this guide. After that, we'll get into why it matters, its potential impacts, and the factors that might impact it. Finally, we'll wrap up by discussing how to reduce lead time in the supply chain for your company. What Is Lead Time In Supply Chain? A crucial step in the supply chain process is lead time in supply chain management. It considers the time needed to place, process, produce, and deliver an order to the consumer. Supplier lead times, production times, and transit times are a few variables that might influence lead time in supply chain. To control inventory levels, manufacturing schedules, and customer satisfaction, businesses must manage lead time in eCommerce logistics. Long lead times might result in excess inventory that locks up expensive resources and stockouts that can result in lost revenue. In addition, inefficient manufacturing and missed opportunities might occur from long lead periods that cause schedule delays in the production process. What Is The Importance Of Lead Time In Logistics and Supply Chain? In many sectors, lead time is a crucial statistic. To prevent a supply delay, which could severely impact customer satisfaction, contractor dependencies, and cost efficiency, it is essential to calculate lead times accurately and consistently. Here are the top 5 factors that make lead time in supply chain necessary: Edge Over Competitors A shorter lead time in logistics is nearly always more appealing to clients. For example, if a company provides next-day delivery, but another offers a lead time of three days, the former company will likely win the sale if all other factors are equal. Customers place a high value on quick lead times, as seen by Amazon's supremacy, which is all necessary to comprehend. Cost Cutting Similar to the preceding argument, this also dramatically impacts a company's bottom line. Downtime and waste all cost money, whether it's the price of unsellable, rotten items or the cost of storage. Increased profitability results from shorter lead times, and you can only shorten lead times after determining current lead times. Consumer Contentment This holds for both B2C and B2B companies. Customers and clients will generally be more satisfied with your services if they are supplied more quickly, regardless of the competitive advantage of giving better lead times. Faster lead time in the supply chain will provide value by promoting client loyalty and enhancing future sales. Suggested Read: What is Online Consumer Behaviour? Increased Output Lead time in supply chain can be operationally planned for minimal or zero downtime when they are precisely assessed and understood by all parties. This allows you to produce at a higher rate and satisfy customer demand to a higher standard. Project Management Dependencies Lead times are significant in project management when a particular task or assignment is necessary before the rest of the project can advance. Because lead times directly impact inventory levels, production plans, and customer satisfaction, managing lead times is essential for businesses. Long lead time in logistics may result in excess inventory, a waste of crucial resources, and stockouts, which may result in a loss of sales. Additionally, long lead time in supply chain might cause manufacturing schedule delays, resulting in production inefficiencies and missed opportunities. Types Of Lead Time In Supply Chain Management There are many different kinds, primarily based on how a firm operates. However, there are four crucial types of lead times in the supply chain, for instance, for an eCommerce company and fulfillment center: Customer Lead Time Source It is the interval between the confirmation of an order and its eCommerce fulfillment. Product Lead Time After the buyer places an order, this is calculated. If you are out of stock, it takes time to place an order with a supplier until you receive it. Learn more on how to handle out-of-stock items. Manufacturing Lead Time When you have the product on hand, this time is calculated. It is the time required to pick & pack service, and ship services a product while all the necessary supplies are on hand. Cumulative Lead Time The total lead time in the supply chain for the manufacturer and the materials are shown here. From the time an order is verified until the product is delivered, that's how long it would take overall. Lead Time vs Cycle Time vs Takt Time Cycle time and takt time are somewhat connected, although lead time in logistics differs in several ways. Takt Time: This is the rate at which the production process must be finished to satisfy consumer demand. Source Order Cycle time is the period required for the entire manufacturing process of a product. Cycle time is based on the production process, whereas Takt time is based on client demand. As a result, constantly check that your cycle time corresponds to your optimum takt time. To accomplish this, you can make several modifications. Furthermore, it gives you a shorter lead time, which aids in meeting consumer needs. Factors That Affect Lead Time Even while supply chains have significantly improved in recent years, several issues can still result in extended lead time in supply chain. Stockouts Stockouts may impact your supply chain at any point. Your factory can only fulfil your order if it can obtain the raw ingredients required. This is especially true if the factory employs a just-in-time methodology and does not keep goods on hand that can be shipped immediately. Stockouts in your online store could happen due to miscalculating your lead time, which you'll want to avoid at all costs. Variability in Lead Time Since lead time in supply chain differ amongst suppliers, estimating when your items will be delivered can take time. This will inevitably result in production delays. Consolidating suppliers will enable you to order everything you require for production at once, which will help you avoid this issue. Delivery Delays Several uncontrollable variables, such as human error and natural disasters, might delay transportation. Unfortunately, shipping delays cannot be avoided entirely. You can, however, always choose a 3PL that is proactive in identifying solutions to shipping problems. Ineffective Inventory Control You may easily manage your inventory using an inventory management system. With an effective inventory control system, you can quickly overcome reorder delays and protect your stock from loss, damage, or misplacement. A less effective system may result in a longer lead time in logistics. Employ automated inventory management software to reduce delays and speed up the order-fulfillment process. Ineffective Internal Systems If you have to build every part of your product, it takes longer to finish each order. To cut down on production time, think about outsourcing pre-assembly. You can decrease lead time by cutting back on production time. How Is Lead Time In Supply Chain Calculated? Fortunately, when you know what factors to consider within the company process you want to calculate lead time for, it is relatively easy to determine. You must consider the three primary activities between order and fulfillment to determine the "overall" wait time for a specific transaction. These three procedures are described as follows: Time spent on procurement. The period needed to execute the administrative tasks associated with a new order (getting materials, assigning work, etc.). After procurement is complete, manufacturing time is needed to complete a good to a ship-ready standard. The time is taken to transport products from the warehouse to the destination. The following formula can be utilized to determine the total lead time. Lead time is generally equal to the sum of manufacturing, shipping, and procurement times. How To Calculate Lead Time In Supply Chain? Let's use an example to demonstrate this concept. After accounting for all the variables, supply chain management would calculate the overall lead time. Assume you are a supplier of convenience goods to a tiny corner shop, and your client asks you for the total lead time for one inventory round. Suppose the procurement time—the time it takes to obtain the wholesale supply and packing—is four days. In that case, the packaging duration is one day, and the shipping time is two days. The entire lead time would be computed as 3 + 1 + 2, which equals the total lead time of 7 days. Why Lead Time Is Essential To Inventory Management and Impact of Shorter and Longer Lead Times On eCommerce Logistics? Lead time in logistics is a crucial component of inventory control. Therefore, businesses must ensure they can manage lead time and grasp it. If not, there can be severe side effects and consequent customer delays. If lead times spiral out of control, a vicious cycle can develop, with lead times worsening as the supply chain becomes clogged due to the rising demand for the product. In addition, lead times may deteriorate further due to prolonged customer delays. Stocks running out and customers not being able to receive their orders are two consequences of poorly managed lead times. In addition, poor order management can seriously harm a company's reputation and result in customers switching to rivals. Therefore, you must make every effort possible to control lead time in supply chain appropriately. Impacts of Longer Lead Time Workflow issues arise when suppliers need help delivering a purchase order on time and in the appropriate quantities. Customers may experience delays or unmet charges if firms have nothing but their current, on-hand stock to fulfil orders. Suppose this stock proves insufficient to meet customer demand once a new supply arrives. The customer experience can be significantly impacted by lead time. With so many options available to them nowadays, customers can quickly move their business elsewhere if they have a negative experience with a retailer. They're prone to look for alternatives if their orders are delayed or they need help locating what they're looking for. Additionally, as firms need to hold more inventory to be ready for demand, storage costs will likely increase if lead time in supply chain is consistently shorter. As a result, businesses will become less responsive, and product prices will rise. Introducing new products will also be more complex because moving old stock will be more challenging. Impacts of Shorter Lead Time Numerous advantages inevitably arise with a shorter lead time in logistics. Five of the most significant ones are listed below: At specific points along your supply chain, you can store less inventory. Inventory management can be optimized when material and production lead times are shortened.You have more flexibility when there are abrupt changes in the market because of a shorter overall lead time.You might also find yourself with additional cash for your company. The extra money might be used to increase your marketing budget or acquire more stock. The longer you have to use your available funds, the shorter the overall lead time will be. Additionally, this enables you to replenish inventory more quickly and stop losing revenue and clients.You may boost your sales and get a competitive edge with online customers by reducing the time from customer order to delivery. Your success in eCommerce may also be aided by cutting down on your overall lead time.By cutting the lead time in logistics, you may meet your production targets and have seasonal items prepared for customer demand. Unfortunately, clients will only be happy with your overall service, no matter how high-quality your product is if it takes too long to reach them. Longer lead times can also result in wasteful resource consumption, increased expedition costs, and surplus inventory, which can drain your business's finances. Therefore, your eCommerce success depends on reducing total lead time, especially order fulfilment time. How To Reduce The Lead Time In Supply Chain? Take precise measurements of all supply timings using ranges. Measure All Supply Times Through Ranges With Accuracy Isolating and identifying critical lead time in supply chain is the ideal starting point for lowering delivery times (e.g. manufacturing, transport, warehouse processing, etc.). Each supply time must be divided into smaller components to be understood and optimized. The same principles serve as the basis for warehouse KPI measures. This work is frequently made easier by specialized software, which smoothly integrates data throughout the supply chain. Analyze In-Depth The Intralogistics Processes and Subprocesses Analyzing intralogistics-related procedures is crucial for identifying bottlenecks and flaws that impede the flow of commodities. When you examine the warehouse, you see that various sub-processes come together to form global operational management. And even the smallest detail can cause these flows to reverberate. Imagine, for instance, that a roller conveyor is used to transfer goods according to the FIFO principle (first in, first out). At some point, the conveyor can no longer handle the flow, and boxes pile up next to the congested conveyor on the floor. They continue to be stacked on top of one another. When the backlog on the opposite side of the circuit is reduced, and the conveyor reloads, operators will likely choose the top boxes first, switching the priority order to LIFO (last in, first out). And this is where an area of extreme inefficiency develops, lengthening operation times. To identify and address the problem's core cause, careful warehouse flow analysis is required. Utilize Specialist Software To Manage Uncertainties Various factors can cause variations in supply times. Numerous of them are arbitrary and unanticipated. Specialized logistics software in this regard aids in reducing this unpredictability and enhancing lead time. Enhancing your capacity to respond to unforeseen circumstances. In a warehouse setting, this has a different meaning. How should I respond to an unexpected stock arrival or blind reception? What logistics guidelines should order picking adhere to? A warehouse management system can immediately address these problems and many others. All the data in your supply chain will be integrated and unified, facilitating decision-making and identifying hot spots throughout the supply chain. Make Contractual Arrangements With Vendors The preference is to prioritize long-term partnerships when choosing suppliers. This is due to the ability to standardize procedures and hone supply timetables. They can be condensed to use just-in-time scheduling or cross-docking. WMS Software makes it easier for warehouses to integrate with the major transportation companies, which is crucial for the logistics of eCommerce, among other industries. The warehouse serves as a crucial link between supply and demand and forms the foundation of the entire supply chain. So, optimizing warehouse management is essential to cutting down on lead time in logistics. Conclusion Sharper lead time in the supply chain cannot be avoided in the current business environment. Additionally, there is a growing need for quicker fulfillment by teams, enterprises, and customers. Having stated that, each company is distinct. Additionally, you should create a lead time management strategy that supports your team's unique procedures and commitments. Take advantage of intelligent project management systems' opportunities for increasing efficiency. Create logical lead time dashboards, integrate your tools, and set up automation to handle the laborious lead time computation and even reordering on your behalf. With WareIQ, Inventory Management and Order Fulfilment Can Be Less Troublesome. It is challenging to manage and identify a long lead time in supply chain since reducing lead times involves many moving elements. WareIQ collaborates with you to give access to a countrywide omnichannel fulfilment network, including 2-day shipping with 98% coverage in the country so that you can concentrate on customer happiness, product development, and overall business success. When you work with WareIQ, you can quickly cut lead time in logistics by letting the professionals handle your inventory management, fulfilment, and shipping needs (in addition to other value-added services like WareIQ Rush). Real-time inventory tracking is a feature of WareIQ's fulfilment platform, allowing you to always know precisely how much and where you have in stock. Additionally, you may establish reorder point notifications, which ensures that you'll always replace your inventory at the appropriate moment and avoid stockouts. WareIQ handles everything from inventory distribution to warehouse receiving to shipping and fulfilment, so you can concentrate on expanding your business. Lead Time in Supply Chain: Frequently Asked Questions What is the lead time in supply chain?Lead times in eCommerce can refer to several stages of the supply chain, including lead times for procurement, warehouse receiving, fulfilment, and shipment. What different lead time in supply chain exist?Customers, materials, factories/production, and cumulative lead times are the four main categories of lead times. Why is it beneficial to have shorter lead times?Reduced labour expenses, increased customer satisfaction, and inventory level optimization are all benefits of shorter lead times. In the end, it's all about delivery speed to minimise wait times for customers. What easy choices are there for businesses to shorten the lead time?Working with dependable suppliers and anticipating your labour and inventory demands are important first steps in cutting lead times. By delegating tasks to the pros, working with a third-party logistics company like WareIQ can also help you shorten lead time in logistics.

January 19, 2023

10 Best International Marketplaces for eCommerce Sellers Looking to Expand Global Operations in 2024

The primary goal of every online seller is to get as much exposure and sell as many products as possible. Being successful in eCommerce entails a lot of hard work, quick thinking and advanced planning. Retailers generally spend a ton of money on studying their target markets, researching potential products, producing and storing them and eventually shipping them to customers. The key way they can break even and eventually start being profitable is to sell more items than they spend on all the other expenses involved in the running of a business enterprise. Additionally, the eCommerce space is rife with competition in almost every sector. Therefore, it is in every retailer’s best interest to sell their items on as many platforms as possible in the hopes of carving out a good market share in at least a couple of them. Fortunately, in the current day and age, there is just as much competition among online selling platforms as there is among the sellers that use them. In this blog, we will take a detailed look at the nuances of international marketplaces, including the meaning, benefits, tips, and world's 10 best online selling channels for your business. What are International Marketplaces? International marketplaces are online selling platforms that allow buyers and sellers from different countries to interact with each other and conduct transactions. Buyers list the products they want to sell and include important information pertaining to the item, such as size, dimensions, materials, use cases and more, while customers can browse multiple sites, identify the products they need and purchase them through a variety of methods. These marketplaces typically offer a wide range of products and services, and facilitate the exchange of goods and services between countries through features such as currency conversion and cross-border shipping. Prominent examples of international marketplaces include Amazon, Alibaba and eBay. [contactus_lilgoodness] The Primary Advantages of Selling on Multinational Online Selling Channels Increases Market Visibility By selling on international marketplaces, businesses can reach new customers in different countries, expanding their customer base and increasing their potential revenue. Most international marketplaces have user bases that span millions of people across the globe, so sellers that list their items on these platforms will instantly get access to a significantly broader base of potential customers. Even if a tiny proportion of this actually translates into sales, it is still much more than you would be able to muster using conventional retail outlets or physical stores. You may learn in detail about retail fulfillment here. Reduces Shipping Complications International marketplaces can help businesses overcome barriers to entry that might otherwise make it difficult to sell their products or services in other countries. Since many online selling platforms allow for cross-border transactions and order fulfillment, they also have the tools in place to deal with challenging and unforeseen situations, such as customs duties, border clearance, fees and more. This literally opens up a world of possibilities because retailers that offer their products on international marketplaces are no longer bound by the rules and regulations of specific countries. Negates the Need for High Marketing Expenditure Most international marketplaces have gigantic customer bases and an already established reputation, which can help to attract customers to a business's products or services. This can help to reduce the need for expensive marketing and advertising. For instance, a customer would have more confidence in purchasing a product on Amazon because they recognise the brand and associate it with professionalism, rather than a random website that it is listed on. The names of some of these companies carry a lot of weight and can be all the marketing you need to keep customers interested. Provides Access to Advanced Technology International marketplaces are bastions of technology, offering the latest features to their sellers so they can out-compete their rivals on other platforms. They generally provide tools, technology and services that can help businesses to manage their inventory, fulfill orders, track customer data, monitor inventory levels, get real-time order updates and much more. This is extremely helpful, especially for small and medium-sized sellers that may not have the financial capabilities or technological prowess to get access to these facilities on their own. Offers a Competitive Advantage By selling on international marketplaces, businesses can gain a competitive advantage over their rivals in the same space that is not yet selling in those markets. For instance, if a brand that sells BlueTooth headphones at the cheapest possible rates is among the first on a platform like you can sell on Etsy, they will instantly capture a sizeable market share compared to brands that join after a few months, even if those brands turn out to be cheaper and maybe even better. The first-mover advantage is real and can be a make-or-break situation, especially in a cut-throat environment like eCommerce. 5 Simple Ways to Make the Most of Selling on International Marketplaces in 2023 Select an Option Based on Your Requirements Even though selling your items on as many international marketplaces as you can seem like the right way to go, you should conduct some research as to which ones would be the best fit for your business based on factors such as recurring charges, customer base, allowed products, amount of competition, location of customers and much more. This will allow you to identify whether that marketplace coincides with your present and future business goals, helping you make a more informed decision. Employ the Use of Marketing and Advertising Many international marketplaces have in-house marketing and advertising facilities, and this has become a popular way of encouraging sellers to promote their products and increase their reach in a hassle-free way, while also generating profits through charges or subscriptions for the type, duration and nature of the advertisement used. Platforms like Amazon even provide courses for its sellers to learn the ins and outs of advertising. The benefits of running ads are that your products and brand will be highlighted and be more visible to potential customers if they are scrolling the site or specifically searching for a similar product. Streamine Your Listing Pages Listing pages carry a lot of significance, especially on international marketplaces, as it is the first interaction a customer will usually have with your brand. In that sense, you need to put as much time and effort into it as you would in decorating your physical store or designing your own website. Make the listings as appealing as possible with attractive images, product descriptions and videos, while also taking care of SEO optimization by adding relevant keywords wherever it is needed so that they will rank highly on both search engines and within the marketplace itself. Provide a Wide Selection of Products It is in the best interests of international marketplaces to promote the products that are doing well and garner positive customer feedback. However, not every product can hold that mantel. While some products will have to be replenished every month due to their popularity, others can remain on your storage shelves for months on end. It is important to ascertain what works and what doesn’t, and there is no better way of figuring that out than by providing customers with the option and seeing if it catches their eye and they take the bait. Give Customers a Personalised Experience Providing customers with a tailored experience can be a good way to help your brand stand out of the crowd. When selling on international marketplaces, you can equip customers with the ability to shop in their preferred language, opt to see prices in their own currency, offer translation facilities, provide delivery forecasts, highlight the total order amount and mention shipping prices. This will help them get more accustomed to your brand and will feel at home browsing around your page in a language and currency they are comfortable with. You can learn how to calculate shipping prices here. Top 10 International Marketplaces to Sell Products At a Global Level in 2023 Amazon Source Founding Date: 1994Headquarters: Seattle, Washington, USARevenue in 2022: $502 billionHome Country: USAUnique Selling Point: It is a leader in innovating new fulfillment and eCommerce solutions With upwards of $127 billion in revenue in just Q4 of 2022, Amazon is, without a doubt, the largest international eCommerce platform in the US and around the world. You can access a large global market thanks to Amazon's outstanding shipping infrastructure, which delivers to more than 100 countries worldwide. For merchants to flourish, Amazon provides a wealth of resources. For instance, you can opt to manage order fulfillment yourself or use Fulfillment by Amazon (FBA), in which case the company would take care of the storage, packing and shipping of inventory. Additionally, you have tools for managing international sales, such as tax collection, as well as advertising and marketing programs to enhance your sales. eBay Source Founding Date: 1995Headquarters: San Jose, California, USARevenue in 2022: $9.8 billionHome Country: USAUnique Selling Point: It is one of the most cost-effective marketplaces out there The second-largest international marketplace operating in the US is eBay. Although it doesn't have as large of a customer base as Amazon, this may work to your advantage if you sell speciality goods that appeal to the kind of customer that uses eBay as their preferred platform to sell on eBay. For instance, customers between the ages of 35 and 49 make up eBay's strongest demographic. Low costs compared to other foreign marketplaces are one of eBay's benefits, making it a desirable option for business owners on a budget. The fees charged by eBay typically range from 10% to 15% of the total sales price. eBay offers localised services in a number of countries around the globe. Lazada Source Founding Date: 2012Headquarters: SingaporeRevenue in 2022: $12 billionHome Country: SingaporeUnique Selling Point: It provides the ability to set up individualised websites unique to different markets Lazada is a well-known eCommerce marketplace that has a strong presence in Southeast Asia and is essentially the Amazon of the region. International vendors that want to access the markets of Indonesia, Singapore, Vietnam, Philippines, Thailand and Malaysia are encouraged to use this platform. A unique aspect of Lazada's retail operations is that for each website, you can create a Lazada shop where you can cater to customers in several countries with different products, prices and descriptions of your offerings, tailored according to various factors specific to that country. Contrary to other options on this list, Lazada currently doesn't impose any fixed or monthly fees on sellers. This means there are no setup fees or recurring monthly expenses while setting up and managing a Lazada account to begin selling goods. Alibaba Source Founding Date: 1999Headquarters: Hangzhou, ChinaRevenue in 2022: $131 billionHome Country: ChinaUnique Selling Point: It is also a manufacturer and wholesaler for B2B online marketplace companies Alibaba is an international marketplace you should seriously consider using because it is China's top provider of online commerce. The Alibaba Group as a whole boasts approximately 1.24 billion monthly active users and 29% yearly revenue growth. Alibaba.com serves as the basis for numerous businesses as a manufacturer and wholesale supplier for business-to-business (B2B) transactions. Therefore, Alibaba should be your first choice if your business involves selling goods to other companies, which need not only be located in China. You simply need to enter your details in a short form to open an account with Alibaba in order to begin selling. From there, you can instantly list your products and begin selling. Rakuten Source Founding Date: 1997 Headquarters: Tokyo, JapanRevenue in 2022: $15 billionHome Country: JapanUnique Selling Point: It offers a bunch of specialized, value-added services Rakuten, which has more than a billion customers and operates in more than 20 countries, is the biggest online marketplace in Japan. Because of this, it has become known as "the Amazon of Japan." Rakuten differs significantly from other international marketplaces because of a few aspects. Its own email marketing tool, R-mail, aids sellers in establishing and maintaining relationships with customers so they can earn their loyalty. eCommerce consultancy is another service provided by the company to sellers on their respective journeys. Additionally, Rakuten also provides a cashback programme called Super Points, which fosters greater user loyalty and enables customers to get their goods at discounted prices. AliExpress Source Founding Date: 2010 Headquarters: Hangzhou, ChinaRevenue in 2022: $134 billionHome Country: ChinaUnique Selling Point: It charges a very low commission compared to other platforms With a monthly user base on the upper side of 200 million visitors, AliExpress, established in China, operates in more than 230 nations and territories. The platform has developed a reputation for hosting Singles' Day in China, which is comparable to Black Friday as a shopping holiday. The reduced expenditure is one of the major benefits of selling on AliExpress. Depending on your products and categories, charges can range from 5% to 8% of your entire sales. Additionally, widely known are AliExpress' dependability and customer support. As a retailer, you will get paid as soon as your consumers receive their packages. Moreover, customers can rest easy knowing that their questions will be answered promptly and efficiently by the company’s support team. Etsy Source Founding Date: 2005 Headquarters: Brooklyn, New York, USARevenue in 2022: $2.5 billionHome Country: USAUnique Selling Point: It offers a dedicated market for antiques and other collectable items Etsy is one of the most well-known American eCommerce websites. With a focus on handcrafted, vintage, and collector's items, Esty primarily caters to the arts and crafts sector. You probably won't find any identical product listings on other websites when you shop on Etsy, with the possible exception of the seller's own online shop. As a result, it functions very differently from the other international marketplaces we have examined so far. Therefore, putting things on Etsy to sell on Etsy, which is quite simple to do, makes a lot of sense if your small business is focused on arts and crafts. The setup process is also very simple because you simply need to create and account to start listing. Despite the company imposing a listing fee, the costs are still lower than those of some of the other marketplaces we've reviewed. Zalando Source Founding Date: 2008 Headquarters: Berlin, GermanyRevenue in 2022: $11 billionHome Country: GermanyUnique Selling Point: It specializes in selling clothing and fashion products German eCommerce company Zalando operates in over 23 markets across Europe. Its online markets offer a wide range of goods in several categories, with fashion and clothing being its most lucrative industry. In order to speed up seller registration, Zalando also employs internationally qualified support personnel. Their advice makes setting up a shop and listing products easy and efficient. Merchants can use Zalando Fulfillment Solutions to access Zalando's international networks, experience and markets. The company has numerous warehouse facilities spread out over Europe as well as logistics partners in numerous European nations. Shopee Source Founding Date: 2015 Headquarters: SingaporeRevenue in 2022: $19 billionHome Country: MalaysiaUnique Selling Point: It has a vast fulfillment network in South East Asia Shopee is undoubtedly Malaysia's leading online marketplace, with more than 50 million monthly visitors. Customers adore Shopee for more reasons than only its large selection of goods. It is also mobile-friendly to use and has affordable delivery costs. Buyers can find everything they want on this eCommerce site. Foreign vendors who have completed fewer than 100 orders are exempt from commission fees and are allowed to list products for free on Shopee. Additionally, the platform enables you to provide customers with a range of payment alternatives, such as cash on delivery, ATM transfers, debit and credit cards, and cash on delivery (COD). It is also simple to fulfill orders because there are many well-established fulfillment facilities in Southeast Asia that will take your products and send them to Shopee customers. Best Buy Source Founding Date: 1966Headquarters: Richfield, Minnesota, USARevenue in 2022: $48 billionHome Country: USAUnique Selling Point: It is very easy for even small businesses to get onboarded Best Buy is another international online platform you can think about selling on. Even a tiny firm can apply to become a Best Buy seller, contrary to the belief that you need to be a huge brand to sell there. You may also be startled to learn that Best Buy ranked just below Amazon but ahead of Apple on the list of North American retailers of consumer electronics in terms of sales. These figures are tough to ignore and, combined with the Best Buy brand association your business can take advantage of, make it a big international marketplace for your business, despite the opaque application procedure, which makes it unclear how difficult it is to get accepted. Conclusion: How WareIQ Can Enhance Your Selling Fulfillment Capabilities on International Marketplaces in 2023? International marketplaces provide multiple benefits to retailers looking to maximize their exposure, sales, and profits without having any additional drawbacks that are already present in every retail space. They enable businesses to expand their reach and access new customers. The benefits of selling on these platforms include increased market reach, reduced barriers to entry, lower marketing costs, access to new technologies and lowered trade risks. However, businesses should also be aware of the challenges they may face, such as language barriers, cultural differences, regulations, taxes, tariffs and shipping logistics. But with the right approach and a marketplace fulfillment partner like WareIQ, you can navigate these challenges and successfully sell your products on the international marketplace of your choosing. WareIQ is an India-based eCommerce fulfillment company that has emerged as one of the fastest-growing options in the country. We offer multiple fulfillment-related services, such as a nationwide network of fulfillment centers for eCommerce, custom WMS software, and more. Additionally, our WareIQ Global platform can ship internationally to more than 220 countries and territories around the globe. Some of the key services we offer include: Worldwide Shipping To offer dependable and affordable shipping services to more than 220 countries and territories around the world, including the UK, US, EU, and Australia, we have worked with the majority of major international shipping companies, including FedEx, DHL, and more. Suggested Read: 10 Fastest and Cheapest International Courier Services in India Various Options for Inventory Storage In order to provide localised storage facilities in the nations you would like to ship to, including the UK, we have worked with numerous warehouse and fulfillment firms worldwide. Additionally, we also give you the option of keeping your SKUs in India and exporting each order as it comes in. Last-Leg Delivery In the majority of foreign countries, we offer last-mile fulfillment facilities right to the customer's door to ensure they are satisfied with their experience. Flexible and Economical Rates Along with numerous incentives and discounts on large orders, we provide some of the most affordable rates in the sector. Multiple Marketplace Integrations Our custom WMS is able to integrate with most online marketplaces, such as Amazon, eBay, Shopify and more, so you can synchronize your order and inventory data across all of them in one digital location. International Marketplaces: FAQs How do you get started selling on an international marketplace?To get started, businesses typically need to sign up for an account and create a seller profile. This process may vary depending on the marketplace, but businesses will typically need to provide information such as their business name, contact details and product or service offerings. How can you deal with language barriers when selling on an international marketplace?Many international marketplaces offer translation services or allow businesses to list their products in multiple languages. You can also consider hiring a translator or using translation software to help them communicate with customers in different countries. How can you handle shipping and logistics when selling on an international marketplace?Many international marketplaces have partnerships with shipping and logistics companies to help businesses with this aspect. Businesses can also research and select 3PL shipping and logistics providers that have experience handling international shipments, such as WareIQ. How do you deal with different regulations and taxes when selling on an international marketplace?It is important for businesses to be aware of the regulations and taxes that apply to their products or services in each country they sell in. You can consider hiring a tax or legal professional to help you navigate these requirements. How can you handle currency conversion when selling on an international marketplace?Many international marketplaces offer currency conversion services or allow businesses to list their prices in multiple currencies. You can also consider using a currency conversion service or consulting with a financial advisor to help you manage currency exchange rates.

January 17, 2023

List of Top 10 Warehousing Companies in Guwahati in 2024 Providing Exceptional Warehousing and Logistics Services

Guwahati, the largest city in the northeastern region of India, is emerging as a business hub for both online and offline retailers. The city's strategic location, improving infrastructure, and growing consumer market is attracting more and more businesses to the area. Additionally, the government's push to develop the region and increase economic activity has also contributed to this growth. As a result, many retailers are setting up their brick-and-mortar stores, warehouses, and e-commerce fulfillment centers in Guwahati. This trend is expected to continue in the coming years as more retailers look to tap into the region's growing consumer market and take advantage of the city's strategic location for distribution and logistics. Warehousing companies in Guwahati support numerous eCommerce enterprises. In addition, the state is home to many internet and tech-savvy residents and boasts a sizable eCommerce industry. Given that e-Commerce warehousing is essential to supply chain management, it is advised to utilize the top warehousing companies in Guwahati. With a tailored management system, the knowledgeable and capable professionals managing the warehousing operations may develop the core business, better manage the business components, and satisfy spot stocking requirements. To perform end-to-end supply chain tasks, warehousing companies have transitioned to automated technologies and complete digitization. Due to the eCommerce industry and the emphasis placed on shipping duration and customer happiness, finding logistic and warehousing services in Guwahati that will fulfil your needs and conduct continuous operations daily is essential. To help businesses locate reputable warehouse service providers, a list of warehouse companies in Guwahati has been provided below. What Functions Do Warehousing and Logistics Services Play in the eCommerce Supply Chain? Before defining warehouse and logistics services, it is necessary to understand the meaning of logistics fully. The most straightforward definition of logistics is the careful organization, management, planning, and execution of challenging procedures. Various businesses, including warehousing, use logistics to transfer goods and information about inventories. Thus, warehousing and logistics encompass all the different, complex aspects of warehousing's organization, motions, and management. Transporting tangible inventories and intangible assets like people and information, as well as sending and receiving shipments of them, is required. Handling broken goods, following safety guidelines, managing human resources, managing client returns, and controlling pests are all aspects of logistics for warehouses. 10 Leading Warehousing Companies in Guwahati in 2023 WareIQ Logistics Pvt Ltd Source Logistics planning is an ongoing optimization process that demands consistent thinking and effort-making. Technology-savvy 3PL WareIQ utilizes its software throughout its network of fulfillment centers. WareIQ offers B2B and B2C brands the best fulfillment services, including real-time tracking of inventory levels and order selection, packaging, shipping, and delivery. WareIQ is one of the top leading logistics companies in Guwahati. Orders are automatically forwarded to our warehouses after we connect your store. The product is picked, packaged, and delivered (and tracking information is shared with your customers and pushed back to your store.). Your business can make the most of your time and financial resources by using the delivery process to exceed clients' expectations and gain more control over the customer connection. You can strategically distribute your inventory throughout WareIQ's facilities by leveraging our nationwide spread fulfilment facilities to deliver your products more promptly and economically. This is because keeping inventory close to your customers' locations helps reduce shipping zones and the price of sending orders to distant places. Additionally, whether you ship from one fulfilment centre or many, you can provide same-day or next-day shipping to 98% of the nation's population with WareIQ Rush with a 2-Day shipping option. For everything from improved supply chain decision-making to year-end reporting, WareIQ provides data and analytics. As a result, we have become one of Guwahati's best logistics and warehousing companies. We take responsibility for our actions and update you on any statistical developments. The fulfilment centres you should stock, the amount of time before inventory runs out, how sales affect inventory levels, the cart value, delivery costs, and transit times for each delivery, as well as your fulfilment costs per order and storage costs per unit are just a few of the crucial details we display. The eCommerce growth platform WareIQ is full-stack and designed for scale. The illustration below shows how WareIQ offers quick, affordable, and reliable fulfillment for all your eCommerce sales channels. Boost Your Sales Swiftly With tools and strategies that give you the competitive edge to develop into a quickly expanding eCommerce company, WareIQ assists you in increasing conversions across all sales channels. Selling through several sales channels will increase your sales velocity.Increase the visibility of your product with WareIQ Rush badges.Free expedited shipping can encourage website visitors to make purchases.Become a top-rated marketplace seller to increase sales. Quick Order Fulfilment Your marketplace and shopping cart orders are fully automated when they are shipped via WareIQ. Get economical, predictable, quick, and dependable e-commerce order fulfillment that scales your company from day one. Offer delivery in 1 or 2 days using merchandise in our contemporary scattered warehouses.Quick and Accurate order packing.98% of the population could be reached while paying less for shipping.Expand your company with shipping and eCommerce fulfillment services that prioritize your brand. Delight Your Clients Your consumers enjoy a hassle-free experience with WareIQ from checkout to delivery. By providing a superior experience, you can raise your customer satisfaction rating and increase client retention. Improve your rating for customer satisfaction.Offer an order tracking experience similar to Amazon.com.Utilize proactive shipping notifications to keep customers informed.Provide customers with simple return and exchange options. Warehousing Express Logistics Pvt. Ltd. Source A recognized business, Warehousing Express Logistics Pvt. Ltd. is led by seasoned logistics experts with more than 25 years of demonstrated and diverse expertise, primarily with top global corporations in India. Warehousing Express offers a competitive edge in a very challenging market. WELPL's primary goal is customer pleasure, but it also strongly emphasizes providing high-calibre services at competitive prices. WELPL specializes in warehouse management and physical distribution/transportation operations, two of the most crucial tech-enabled logistics tasks. WELPL offers the best warehousing services in Guwahati. The warehouses are placed in a prime area, convenient to both the city and the port. As a result, the majority of customers use transport and warehousing services. In addition, WELPL offers a network of distribution and third-party logistics services that is the finest in its class. As one of the top warehousing companies in Guwahati, Warehousing Express is the go-to 3pl on the list of logistics firms for services like renting out storage space, managing inventories, contract logistics, transportation, and distribution. Jain Group Ventures Source For all of your needs in CFA/C&F/3PL, warehousing, distribution, and repackaging, turn to Jain Group. It is an ISO 9001:2015 organization and offers comprehensive and top-notch services in industries including pharmaceuticals, FMCG, consumer goods, paints, etc. The infrastructure is among the best in North East India and features state-of-the-art facilities. Compiled with system-driven and the newest technologies to provide each of our clients with top-notch service. To deliver superior warehousing services in Guwahati to all clients by attending to their needs and demands and inspiring them to appreciate high-quality storage, distribution, retail, 3PL, and supply chain solutions services. Warehouzez Source Warehouzez is one of the well-known logistics and warehousing companies in Guwahati. Warehouzez- The Digital Supply Chain is run by a qualified expert with years of expertise dealing with India's most prominent global firms. The business has been growing its activities in various regions of the nation since it was founded. The fulfilment of clients is Warehouzez's primary objective. With this in mind, they focus on offering top-notch services at a reasonable cost. Management of warehouses and distribution services are two areas of expertise. Warehouses are deliberately placed in desirable areas (near cities and ports). As a result, most of their customers employ their transportation and warehouse services. The distribution facility network of Warehouzez, a high-tech 3PL and one of the top warehouse companies in Guwahati, is undoubtedly the best in the business. Om Trans Logistics Source The objective of Om Trans Logistics, one of the top freight forwarding and warehousing companies in Guwahati, is to offer its customers the best logistical methods. The business is pushing the boundaries of excellence in innovation, production, and service. Om Trans Logistics is a specialized logistics firm that provides the best services to customers. They have a team of logistics industry professionals with more than 21 years of collective experience. Om Trans Logistics continuously offers clients modern, cost-effective logistical solutions that help them minimize costs while maintaining a high level of service. Om Trans Logistics has developed a full range of logistics services to suit the demands, including storage and distribution, customs and shipment, trading overland, sea, and air transportation. One of the best freight forwarding and warehousing companies in Guwahati can be discovered at Om Trans Logistics. AWL India Pvt. Ltd. Source With the aid of cutting-edge technology, AWL India Pvt. Ltd. is the Indian logistics company with the quickest rate of growth. AWL works hard to give customers excellent service and help companies grow their global customer bases. AWL is one of the top warehousing companies in Guwahati since they strive to fulfil assignments despite challenges. Their activities are motivated by advancing infrastructure and technology. As a result, AWL has built an unrivalled reputation for offering top-notch logistics and supply chain management solutions. This company, which provides global logistics solutions, based its success on individualized customer service and effective use of its extensive logistics knowledge. The models in the fleets of AWL can be used in various fields, including entertainment, electronics, cosmetics, and energy. One of the biggest warehousing companies in Guwahati is AWL India Pvt. Ltd. The fact that their vehicles are designed to ensure accurate temperature and humidity for perishable goods with a finite shelf life means that they abide by shipping rules. Suggested Read: List of Top 10 Logistics Companies in Guwahati in 2023 to Handle Logistics Operations of Retail Businesses Ecom Express Source As a provider of technology-based logistics and warehouse services, Ecom Express was founded in 2012. They are one of the biggest warehousing companies in Guwahati and serve over 27,000 Indian postcodes. They also have a sizable presence throughout India. Ecom Express uses automated tools and data sciences to streamline the order fulfilment process. They also provide quick delivery services and reverse logistics management that is quality-controlled. They have also used artificial intelligence and machine learning algorithms to analyze incorrect addresses and plan specific delivery dates. There are 1,008,000 square feet of fulfilment centre space throughout the nation. Holisol Logistics Pvt Ltd Source Holisol Logistics is one of the leading warehousing companies in Guwahati. eCommerce companies can utilize the Holisol network for end-to-end supply chain logistics. The industries served by Holisol's returnable packaging include those in the automotive, agricultural, and heavy engineering sectors. Multi-channel retail fulfillment for B2B and B2C customers is another service offered by Holisol. Holisol has also created fully AI-enabled digital supply chain management systems. Holisol, a top logistics and supply chain company, aims to become a significant player in the logistics and warehousing industry. They provide complete end-to-end solutions to their clients' technology-dependent enterprises. Holisol places a high priority on the three bottom lines of profit, planet, and people. Holisol also hopes to expand by enhancing people's sense of accomplishment and fulfilment. BlueDart Source Bluedart is one of Guwahati's top logistics and warehousing companies and was founded in 1983. It includes a broad range of domestic logistical services. In India, Bluedart employs more than 12,000 people. To help clients avoid problems while importing or exporting goods, Blue Dart offers a trusted logistics partner with extensive experience in international transportation and links to more than 220 countries. They also provide accurate order tracking and accelerated last-mile delivery services. Additional service optimization choices include express Delivery, slot delivery, COD, and Cash on Delivery. Furthermore, Blue Dart provides weather-resistant packaging, making it the market leader and a chosen supplier for many businesses worldwide. TruckGuru Transports Source One of the best warehousing companies in Guwahati, TruckGuru, assists numerous organizations in securely moving their products to new sites. TruckGuru can help you if you're looking for warehousing services in Guwahati to transfer your freight and need additional information on how to do it. No matter how fragile, glassy, layered, or attached to manufacturing components, food, pharmaceuticals, electronics, or industrial machinery may be, they can move almost any type of material. There are, therefore, no restrictions on the kinds of materials that can be transmitted. You can rely on TruckGuru, a logistics and transportation company that provides warehousing services in Guwahati, to handle your demands for transportation and logistics services successfully. Due to its significant experience in logistics and transportation, TruckGuru provides inventive and reasonably priced shipping solutions. Conclusion To sum up, these are some of Guwahati's most reputable warehousing companies. We can all observe that today's industry and product offerings heavily rely on logistics companies. The businesses we just discussed each have distinctive characteristics that set them apart from their rivals. How WareIQ Improves Warehousing Management and Fulfillment Operations The ongoing optimization process of logistics planning necessitates regular energy and focus. Many B2c and B2B brands work with WareIQ for their fulfilment and distribution operations to utilize the logistical planning services and knowledge they require since they have limited resources. WareIQ is a tech-enabled distribution partner with years of experience in logistics services, including shipping and fulfilment. The architecture and tools we've developed for logistics may be used by B2B and B2C brands to plan their shipping and logistical requirements. We strive to be among the best warehouse companies by finding solutions to anticipated and unforeseen problems so that every customer can fulfil their order at the right time and with reasonable pricing. Starting with the handling and storing of your products, WareIQ offers logistics solutions for eCommerce. With WareIQ, your company may employ a distributed inventory strategy to keep its goods at one or more of our conveniently located fulfilment facilities and transport them quickly and affordably to any location. [signup] Also Check: List of Warehousing Companies in Kolkata Warehousing Companies in Guwahati: FAQs Which elements are crucial for warehousing?One crucial factor is how easily carriers and other transportation companies can access the warehouse location. A few other elements of warehousing include:i) Adequate storage space for the volume of goods being storedii) Proper inventory management systems to track goods and monitor stock levelsiii) Efficient receiving and shipping processes to handle incoming and outgoing goodsiv) Suitable equipment and infrastructure, such as forklifts and loading docks, to handle and move goods within the warehousev) Adequate security measures to protect stored goods and the facility itselfvi) Effective fire suppression and emergency response systems to minimize potential damage and loss in case of an incidentvii) A well-trained workforce to operate equipment, manage inventory, and handle shipping and receiving tasks. How does WareIQ use its fulfillment network to offer same-day delivery?We have storage facilities spread all over the country. We use a sophisticated inventory placement technique based on AI-ML algorithms to locate items closer to your customer. When a customer orders with WareIQ, the item is already at the fulfilment facility nearest to them and may be delivered the same day or the next day via one of our shipping partners, making WareIQ one of the finest warehousing companies in Guwahati. Why is WareIQ among the top fulfilment and warehousing companies in Guwahati?Reduced storage costs allow you to save the money required for infrastructure construction. WareIQ is one of the top warehousing businesses in India since it allows you to keep your products at fulfilment centres all over the country and offers WareIQ Rush, which enables same-day delivery to any location in the country. Can I get a quote for warehousing services in Kolkata?Yes, most warehousing companies in Kolkata offer the option to request a quote for their services. You can contact the companies directly to get an estimate. For WareIQ warehousing you can request a quote here. Which are the top logistics companies in Guwahati in 2023?The top logistics companies in Guwahati in 2023 are mentioned below:i) RCPL Logisticsii) Jain Group Venturesiii) WareIQiv) Professional Logistics Pvt. ltd.v) Blue Dartvi) VRL Logisticsvii) DTDCviii) GATI

January 17, 2023

What are Shipping Delays? Causes, Impact, and Solutions to Mitigate Effects of Delays in Shipping for Retailers in 2024

Shipping products is one of the most important processes in the retail industry. Products need to be transported from manufacturers to storage facilities for both online and offline businesses. In the case of eCommerce companies, they also have to ensure that products are delivered on time to their customers, which involves their items spending even more time in transit. In a bid to offer the best products at the cheapest prices and to generate as much hype as possible, sellers are often blissfully unaware that certain aspects of their shipping procedures may not be up to the mark and, as a result, are causing delays. Order delays can have dire implications not just for the business itself but also for its customers. This can lead to undesirable opinions of your business and can lessen the chances of it getting repeated as well as new customers. In this blog, we will take a look at the meaning, causes, impacts and methods to reduce shipping delays for your retail business. What are Shipping Delays? Any instance where raw materials that are being transferred to the manufacturer, finished goods that are being transported to a storage facility, or orders that are being transported to customers do not reach their destination on the specified date and time can be termed as a shipping delay. In essence, a delay caused while products are in transit can be considered a shipping delay. These delays can happen for a variety of reasons and not all of them are the fault of your own operations or negligence. Oftentimes, especially when a product is being transported, you are at the mercy of external influences, such as road repairs, vehicles being damaged, natural calamities, and much more. Therefore, it is important to try and forecast and account for as many of these situations as you can, in order to prevent and negate the negative outcomes caused by order delays. [contactus_uth] What are the Primary Causes of Order Delays in 2023? Labour Scarcity Since the onset of the pandemic, many countries and specific industries have faced vast labour shortages. This is especially prominent in developed countries, such as the US and UK, where job openings are at all-time highs and labour participation rates are dwindling. This obviously has an effect on the way products are able to be produced, shipped, and delivered to customers and it can cause severe shipping delays and disruptions throughout the fulfillment pipeline. One way to curtail this is to ascertain in advance how many employees you need to conduct operations successfully and procure the necessary resources instantly. Public Holidays The significance of various public holidays dictates the closure of many important services on those specific dates, resulting in uncertainty and, eventually, shipping delays. The fact that sellers often experience their highest demand of the year during specific holiday seasons just rubs salt into the wood in case they are experiencing late shipment deliveries brought about by the holiday restrictions. Additionally, because they are often a lot more orders to deal with during the holidays, it requires additional resources and effort in order to successfully fulfill all of them, which can expose the efficiency of your shipping processes for the better or worse. Suggested Read: Tips to Prepare Your Fulfillment and Logistics Strategy for the Holiday Season in 2023 Unsuitable Weather Conditions Orders are the most susceptible to damage or delays while they are in transit, as this is where they are the most exposed to external factors such as harsh weather conditions. From experiencing the direct impacts caused by fog and hailstorms to the indirect effects due to road closures caused by fallen trees or electrical wires and flights being delayed due to excessive rain or snow, weather conditions play an important role in the success rates of shipping practices. Although it is not possible to control weather patterns, you can brace yourself by investing in technology that will offset the impacts and making the necessary preparations. Supply Chain Disruptions The world and its populace have been through a lot in the past couple of years, firstly due to disruptions to supply chains caused by the global pandemic and all its restrictions, and then due to conflicts like the war in Ukraine and the closure of various trade routes, ports and pipelines that have contributed to an increase in the prices of transport, oil and gas. This has had a negative impact on retail shipping by making it more expensive to conduct the same processes as before. Thus, many extended shipping delays can be attributed to these supply chain disruptions happening in many parts of the world. Incorrect Shipping Details If there is any factor that is 100% assured to cause inevitable order delays, it is not having your eCommerce shipping information filled out accurately. For instance, any disparity in important details, such as the customer’s address, phone number, warehouse address, or SKU number, can cause multiple disruptions and ensure that orders are subject to heavy hindrances. In turn, this can also cause costs to skyrocket, RTOs to increase, and enhance the likelihood of goods being damaged. To prevent this, it is important to ensure that all details are filled out accurately. The Impact Late Shipments Can Have on Your Business Delegitimizes Your Brand in the Eyes of Customers Concerningly, around 41% of customers associate delayed deliveries directly with the brands they purchased them from. Customers will surely be upset when their order doesn't arrive when they anticipated it to when they expect businesses to deliver their orders on time. This dissatisfaction may spiral into future delivery-related agitation and even apprehension about placing repeat orders. Additionally, more than 32% of buyers worldwide suggest that one of the major downsides of making an online purchase is dealing with shipment issues or delays. This is why it is important to give your customers a positive experience and tackle the issue of shipping delays before it even starts. Makes You Lose Out on Valuable Revenue Retail income can be severely impacted by shipping delays. A single lengthy hindrance to production could wipe away as much as 30–50% of a company's revenue prior to paying taxes, interest and lost profits due to depreciation, according to a recent McKinsey article. Additionally, clients frequently find lengthy delivery schedules to be off-putting, which could hamper your chances of getting repeat purchases from them. They could either completely back out of the purchase or shop elsewhere. 32% of customers say they abandoned their shopping carts in the past year because the projected shipment time was too long. Thus, it is important to regulate your shipping processes to avoid mishaps and provide ultra-fast shipping. Creates Confusion Regarding Inventory Retailers may find it challenging to accurately predict demand and arrange their inventory due to shipping delays. As a result, businesses risk overstocking and incurring expensive storage fees for their inventory. Alternatively, they can underestimate consumer need, quickly run out of supply and be unable to replenish their inventory in time to satisfy actual customer demand. Inconvenient stockouts, which cost retailers $1 trillion annually, can result from overcompensating for fear of ordering too many items. Either way, it is important to forecast demand levels and ascertain the quantity of each SKU you need to store to fulfill orders. 5 Simple Ways to Mitigate the Effects of Shipping Delays in 2023 Provide Free Shipping as an Option Source Free delivery, according to 75% of customers, persists in having a big impact on what they buy. Offering clients free delivery is an opportunity to demonstrate your appreciation for them and dedication to offering excellent service. Free shipping goes a long way in enhancing the customer experience and motivating people to shop with you, even if orders are subject to shipment delays. Even if you use methods such as accounting for shipping costs in your eCommerce product pricing, providing free shipping if the cart value is above a certain amount and more, it will still give customers the perception that they are getting the item delivered for free. Have Clear and Transparent Communication Source Customers want to be aware of delivery expectations upfront. Over 45% of buyers actively seek out retailers who display delivery timeline estimations. Consequently, after making a purchase, most consumers desire real-time alerts on the status of their shipment. Trust can be developed by keeping lines of communication open with clients. In addition to improving their delivery procedures, 49% of the firms in a recent survey also pledged to be transparent about their delivery promises, such as by letting customers know when an item is being processed and dispatched. Encourage communication with customers on platforms like SMS and Whatsapp to keep them engaged on a more personal level, in addition to the updates they receive from the order tracking screen. Appease Customers With Consolitory Discounts Source On many occasions, dealing with shipping delays is inevitable, both for you as well as your customers. Even when things don't go as planned, giving consumers special offers and coupons is a good method to demonstrate your appreciation for their business and their lost time. Gift certificates and discounts can be provided to ease their agitation about the delayed arrival of their orders. This tactic will cost you a small amount of money but it's considerably less expensive and more impactful than having your consumers leave negative reviews or never do business with you again. Offer Customers the Ability to Pick Up Orders Source Giving customers the flexibility of picking up their own orders from a specified location can reduce shipping delays, and efforts and costs associated with last-mile delivery. For a better chance of getting their orders on time, 35% of customers consistently choose shipping options like curbside pickup. Customers are more receptive to alternative methods of receiving their products as they grow more aware of order delays. As a result, click-and-collect and curbside pickup are two options that 41% of retailers plan to divert more funding towards. Keep Track of Every Shipment Source Customers want to be aware of the arrival date of their orders so that they can the necessary arrangements to ensure it is picked up. 96% of respondents to a recent survey said they find order tracking helpful while awaiting deliveries. Even if it is delayed, shipment monitoring helps reassure customers that their order will make its way to them shortly. Order tracking can also help you be aware of where customers’ orders are and can help you address their grievances in a more informed way. Ultimately, order tracking provides a good way to keep customers informed in the event of an order delay. Conclusion: Partner With WareIQ to Ramp Up Your Shipping Processes to Avoid Delays Whenever products need to be shipped or transported from one location to another for whatever reason, there are bound to be delays somewhere down the line. Shipping delays are a harsh reality of the retail industry but companies need to take steps to mitigate the effects of delays and provide a better experience for customers. Clear communication, technology and a robust transportation network all play a role in minimizing shipping delays, which should rank highly in prioritization for every seller that deals with product shipments. Additionally, preventing shipping delays from occurring will enhance the perception and loyalty that customers have of your brand and increase the likelihood of becoming returning customers. Due to all the negatives associated with shipping delays, retailers need to pay extra attention to their in-house processes as well as external factors. This is why it is a good idea to partner with an experienced 3PL fulfillment company like WareIQ. WareIQ is an eCommerce fulfillment company that specialises in a vast array of eCommerce and retail solutions, including shipping. Through our WareIQ Global platform, we can help you streamline your shipping processes to avoid delays and offer your products locally and internationally. Here are some of the facilities we can provide to your business: Domestic and International Shipping Retailers can ship their goods natively and to more than 220 countries and territories worldwide. We also offer last-mile delivery, storage facilities and other services both local service and international courier service. Last-Mile Delivery By making sure that items are picked up before being delivered to the relevant customer's city and delivered right to their doorstep, we assist retailers with the final stage of the delivery process. Shipping Aggregation In addition to offering lightning-fast same-day and next-day delivery, we have worked with more than 20 of the biggest shipping providers in the nation and automatically assign the best and cheapest option for each unique purchase to increase customer satisfaction. Absence of Minimum Order Restrictions We don't have any minimum order restrictions for items to be dispatched, unlike other 3PL fulfilment firms. Additionally, we offer users a selection of the services they wish to choose from and they only need to pay for the resources they actually utilise, which boosts their profit margins and lowers their expenses. RTO Shield Our specialised RTO Shield enables a reduction in RTO requests and shelters sellers from financial losses through insurance and liability coverage. Suggested Read: What is a Shipping Policy? Shipping Delays: FAQs How can you manage high demand and avoid shipping delays during peak seasons?You can manage high demand during peak seasons in the following ways:- Investing in technology to improve logistics and warehouse management- Increasing their inventory levels- Offering multiple shipping options for customers to choose from What steps can be taken to reduce the effects of weather-related shipping delays?You can mitigate the effects of weather-related shipping delays in multiple ways. Some of them are mentioned below:- Using real-time tracking technology- Working with multiple carriers- Having contingency plans in place How can you communicate with customers about shipping delays?Customers can be kept in the loop about shipping delays by providing real-time tracking information, keeping them informed about any changes to their delivery schedule and offering clear and transparent communication about the delay. How can customers be compensated for delayed shipments?Your company can compensate for delayed shipments by offering discounts, vouchers or other incentives to customers who experience delays. How can I plan for unexpected delays caused by global events?Retailers can plan for unexpected delays caused by global events by maintaining a flexible supply chain, working with multiple carriers, and having a crisis management plan in place.

January 16, 2023

List of Top 10 Warehousing Companies in Kolkata Providing Best Warehousing Services for Offline and Online Businesses in 2024

The expansion of e-commerce has radically changed business expansion strategies. Modern companies can function without a physical location. No set number of hours should be worked in the era of digitization and the internet. Online marketplaces enable sellers to satisfy customers' demands at any time. It is increasingly more work to keep inventory, affecting all facets of supply chain management and raw material procurement. This results from urbanization, the rapid growth of online shopping, and new technologies. Businesses need assistance with issues like a shortage of warehouse space, especially in major adjacent cities like Kolkata, where demand is very high. Making the necessary preparations can ease the strain of maintaining products in warehouses and for other tasks. The efficiency of the warehouse in Kolkata can be increased. At the same time, the overall cost can be reduced by selecting one of the most famous, capable warehousing businesses in Kolkata. Regarding traditional retail and eCommerce, where the necessity to store products is crucial, warehouses provide the safest method for securely storing inventory. The term "warehouse logistics" is now often used in the business sector, and warehousing companies in Kolkata are rising to prominence. This includes management, eCommerce operations, and warehousing-related services essential to any business selling tangible commodities. Several essential elements that must be considered while choosing reputable warehousing services in Kolkata affect the administration and operations of any warehouse. Therefore, extensive research is needed to find the best warehousing companies in Kolkata so that you may grow your business. What Functions Do Warehousing Services In Kolkata Perform in the Supply Chain for eCommerce? Before we can define warehouse and logistics services, we must first understand what eCommerce logistics is. The simplest definition of logistics is the systematic organization, administration, planning, and execution of complex processes. In several industries, including warehousing, logistics refers to the transportation of goods and data about inventories. Thus, the organization, management, and varied, complex aspects of warehousing are all included in logistics. In addition, transporting tangible inventories and intangible assets, such as labour and information, is required. Handling broken goods, adhering to safety rules, managing human resources, processing client returns, and pest control are all aspects of logistics for warehouses. Therefore, the terms "warehousing and logistics" relate to all organizational plans, guidelines, and practices required to maintain efficient warehouse operations. Top 10 Best Warehousing Companies in Kolkata for eCommerce, D2C, & Offline Businesses in 2023 WareIQ Logistics Pvt Ltd Source Founding Year: 2019 Location: Hooghly and Howrah in KolkataServices offered: B2B fulfillment, customization and kitting, dropshipping, multi-piece shipping, split deliveries, inventory management, warehousing and storage, same day delivery, and other VAT services. As one of Kolkata's leading warehousing companies, WareIQ can serve as a 3PL fulfillment partner for brands B2B, B2C, and D2C. It is headquartered in Bangalore but running successfully PAN India and is among the top warehousing companies in Kolkata. Therefore, brands can outsource every logistical operation, including order fulfillment, inventory management, and returns management. If you deliver your products to nearby fulfillment centres in India, WareIQ will streamline business shipping, logistics, warehousing, and fulfillment procedures. WareIQ can ship your products on the same day or the next day to your customers using its extensive national distribution network. You can refuse RTO (Return To Origin) delivery requests and save up to 40% of your fulfilment costs. Why WareIQ for cutting-edge logistics and warehousing services? Widespread Fulfilment Network to Boost Logistics Activities Minimize Warehousing and Logistics CostsReal-Time Inventory Analytics Suggested Read: Check Warehousing Companies in Bangalore Tewari Warehousing Co. Pvt. Ltd. Source Founding Year: 2010 Location: Theta Shed Kantapukur, Kolkata, West BengalServices Offered: Handling & Packing tea, warehousing, and logistics services. Tewari Warehousing is a leading warehousing company in Kolkata led by director Nitesh Tewari. It was established at Kolkata, West Bengal, India. They are running successfully in the warehousing and logistics department for over five decades. The company maintains warehouses in Kolkata. They specialize in tea warehousing services, tea logistics services, Bulk packaging and flavoring of tea, Testing and tasting services, and Tea packing, and also work in the export of Darjeeling tea, Assam tea, Black tea, and other organic teas. The main con is that they are limited to one category i.e they specialize in logistics and warehousing services for tea. Frontier Warehousing Limited Source Founding Year: 1990Location: Abdul Hamid Sreet, Kolkata, West BengalServices Offered: 360 degree warehousing, adaptive storage facilitation, end-to-end warehousing solutions, and cold storage facilities. Frontier Warehousing Limited (Frontier Warehousing Pvt. Ltd.) was founded in 1990. They are the most trusted warehousing service provider in and around Kolkata. The business provides 360 warehousing and logistics services to both internal and external clients. Their warehousing services are flexible and forward-thinking. They have the largest multi-purpose cold storage in Bengal and the next goal that they look up to is to operate 10 million sq. feet of warehousing space by 2030. Allcargo Global Logistics Ltd Source Founding Year: 1993Location: Paharpur Garden Reach, Kolkata Services Offered: Coastal Shipping, NVOCC, CFS-ICD, Project and Engineering Solutions, eCommerce warehousing, and logistics services. Allcargo Logistics is among the top warehousing companies in Kolkata. It has established standards for providing its clients with creative, personalized solutions that save them money and time. Customizing integrated logistics solutions has been easier thanks to a wide range of industry expertise, a technology-driven approach, and resources available throughout India. With the assistance of our highly skilled workforce, Allcargo Logistics offers cutting-edge infrastructure, trustworthy safety standards, and services. SpeedWays Logistics Pvt Ltd Founding Year: 1995Location: Khidirpur, Kolkata, West BengalServices Offered: Logistics Solutions, Sea Freight Consultancy & Forwarding, Transportation, Warehousing, Material Handling and Packaging, and Stuffing/De stuffing. SpeedWays Logistics Pvt. Ltd. was established in 1974, and it is one of the leading service providers of international logistics services for shipping, freight forwarding, material handling, project cargo, heavy lifts, door-to-door services, and customs clearance. They are based in Kolkata and are among the top warehousing companies in Kolkata. The Company's Mission is "To meet customers' demands, for a personal and professional service by offering innovative supply chain solutions for global sea and road transportation as well as certain specialist services in supply chain and warehousing domain" StoreFresh Value Chain Solutions LLP Source Founding Year: 2020Location: Salt Lake City, KolkataServices Offered: 3PL services, Warehousing, Cold Storage, Supply chain , fulfillment centers, and Inventory Management. StoreFresh Value Chain Solutions LLP is a 3PL company specializing in Warehousing, Cold Storage, Inventory Management Services, and other Supply Chain Solutions. It was incorporated in 2020, in Kolkata, West Bengal, and is headed by Saurav Agarwal and Udit R Kedia. It has its own warehouses, cold storage service facility, fulfillment centers, and As a 3PL company, StoreFresh LLP understands the need of both the client (MNC) and the landlord (businessmen). They ensure the safety of your goods and timely delivery performance which leads to consistent customer satisfaction by operating more efficiently and growing exponentially. They handle logistics and warehousing for big brands like PEPSICO, NOVA, ColdEX, BigBasket, PSPL and more. Dart Global Source Founding Year: 2009Location: Chowranghee Road,, KolkataServices Offered: Truck shipments, interstate shipping, pick and pack services, real-time tracking, air shipments, freight forwarding and warehousing services. The well-known logistics firm Dart Global has been in business since 1983 and focuses on offering services for international shipment and was developed as a tracking platform for clients from abroad. The company does business with 15 different nations, counts 5000 satisfied customers, manages 82000 shipments, and sends out 55000 items. It focuses on streamlining client needs, developing technology, and empowering staff. It oversees regional offices, staff expansion, transhipment, and a worldwide client. In addition, the business provides solutions for integrated logistics, supply chains, freight forwarding, haulage, warehousing, and air, sea, and overland cargo services. The packaging for each item is up to the consumer. In addition, there are additional types of freight and transportation for perishable, fragile, and medical goods. As a result, Dart Global is ranked among the best logistics and warehousing companies in Kolkata. Future Supply Chain Solutions Source Founding Year: 2006Location: Dhulagori, Howrah, West BengalServices Offered: 3PL services, IT-enabled warehouse, supply chain, transportation, warehousing, contract logistics and other logistics solutions. One of the leading warehousing companies in Kolkata is Future Supply Chain Solutions, one of India's largest organized third-party supply chains. The automated, IT-enabled warehouse, transportation, and other logistics solutions offered by FSC can be selected by many customers. Service options include a storage structure, a national distribution network in India, a "hub-and-spoke" transportation model, and automation technology systems; all support our competitive market position. Fast-moving consumer goods ("FMCG"), eCommerce, home furnishings, ATMs, automotive and engineering, food and beverage, and fashion and apparel are just a few industries where FSC has clients in India. FSC has faith in its business strategy, which enables them to act as a service provider equipped to meet the supply chain needs of our clients completely. FSC provides solutions that will allow our customers to benefit from our distribution network, enhance the supply chain's efficacy, cost, and efficiency, and shorten lead times to market. TVS Supply Chain Solutions Limited Source Founding Year: 2004Location: Taratala, KolkataServices Offered: Integrated supply chain solutions, warehousing, storage and distribution, integrated packaging, global freight forwarding, and time critical final mile solutions. As a part of the TVS Group and one of the top warehouse businesses in Kolkata, TVS Supply Chain Solutions Limited, formerly known as TVS Logistics Services Limited, with annual revenues of more than US $8.5 billion. TVS Supply Chain Solutions Limited (TVS SCS) was founded as a TV Sundaram Iyengar & Sons Ltd division and has a 100-year history. But TVS Logistics Services Limited (TVSLSL) officially became a separate corporation in December 2004. Efficiency, performance visibility, and reduced operating costs contribute to the transformation of logistics supply chains. It is a leading global provider of first-rate, comprehensive supply chain services for many sectors. With operations in 19 nations, TVS SCS offers streamlined supply chain solutions to over 100 blue-chip clients worldwide. Agility Logistics Source Founding Year: 1979Location: Bidhannagar, Kolkata, West BengalServices Offered: eCommerce logistics, last-mile delivery, supply chain management, freight forwarding, and others. Despite being headquartered in Mumbai, Maharashtra, Agility Logistics was established in Sulaibiya, Kuwait. Having long-term regional presence in Kolkata, they are among the best warehousing services in Kolkata because they provide high-quality, sustainably planned logistical services. Global corporations, municipal and regional governments, and small and medium-sized businesses benefit from Agility Logistics' strategic, quick access to transportation networks. Commercial real estate and facilities management, petroleum logistics, customs digitalization, services, e-commerce logistics, and last-mile deliveries are among the sectors that are being targeted. In addition, agility Logistics offers supply chain, developing markets logistics index, and trade services. Conclusion Even though selecting the best logistics companies to work with can be challenging, doing so may be significantly aided by first locating the leading Indian logistics service providers. Now, your options only include the best warehousing companies in Kolkata. The last stage is to choose which logistics partners will provide you with the most pin code reach and the greatest visibility for following our orders. Finally, to maximize operational efficiency and proactively reduce costs, be aware of the needed services. With the top warehouse companies in Kolkata managing operations, eCommerce businesses can create and run their infrastructure to transport orders, which is an expensive and time-consuming process. This suggests that eCommerce businesses rely on dependable logistics and the best warehousing firms in Kolkata to track their orders and keep their customers informed about the progress of their delivery. How to Choose the Best Warehousing Company in Kolkata? Since the British ruled over India, Kolkata has served as a center for business. This city is not new to the idea of warehousing. Yet, as times have changed, a few elements have become more important when selecting the warehouse for your company. The following things need to be taken into account whether the warehouse is being bought or leased or rented: Pick a warehouse that can adapt to your company's needs: A warehouse that can adapt to your company's needs is essential. In this fast-paced environment, changes in corporate needs, procedures, and patterns are highly common. Every time your firm changes, you do not want to go through the process of signing up for warehousing services again. So, warehouses should be flexible.Choose a company that is easy to integrate: You'll want to sell your inventory on a variety of B2B, B2C, D2C, and retail platforms. It is in fact impractical to open a warehouse for every market where you want to sell your goods. As a result, the warehouse systems ought to be simple to integrate with various markets.Pick modern warehouses that are tech-enabled: The days of warehouses being big, dark structures with tin roofs and iron racks are long gone. Modern warehouses come with excellent lighting, security cameras, and very effective WMS (Warehouse Management System) and OMS (Order Management System), which offers you an advantage when predicting inventory levels. While selecting a warehouse system, it is necessary. Consider workforce over automation: An efficient warehouse is run by an efficient workforce. It is the people that add value not the machines or value-added software. Select a warehouse by keeping location in mind: Always choose the warehouse that is most convenient for your intended customer base. Delivery times are shortened and return orders are more effectively managed when a warehouse is close to the customers, improving eCommerce customer service levels and boosting repeat business. How WareIQ Improves Warehousing Management and Fulfillment Operations for eCommerce Companies Operating in Kolkata? The ongoing optimization process of logistics planning necessitates regular attention and time. To employ the logistical planning services and expertise they need because they need additional resources, many B2c and B2B firms rely on WareIQ as their fulfillment and distribution partner. WareIQ is a tech-enabled distribution partner with years of experience in logistics services, including shipping and fulfilment. The architecture and tools we've developed for logistics may be used by B2B and B2C brands to plan their shipping and logistical requirements. We strive to be among the best warehouse companies by finding solutions to anticipated and unforeseen problems so that every customer can deliver the order at the right time and with reasonable pricing. Starting with the handling and storing of your products, WareIQ offers logistics solutions for eCommerce. With WareIQ, your company may employ a distributed inventory strategy to keep its goods at one or more of our conveniently located fulfilment facilities and transport them quickly and affordably to any location. [signup] Also Check: List of Top 10 Warehousing Companies in Guwahati in 2023 Warehousing Companies in Kolkata: Frequently Asked Questions What aspects of warehousing are the most important?Carriers and transportation firms must have easy access to the warehouse location. Shipping will be simpler because of the area's proximity to virtual bus terminals. When thinking about warehousing services, it's essential to keep safety when storing the products in mind. How does WareIQ use its network of fulfillment centers to provide same-day delivery?We have storage facilities scattered around the nation. We employ a powerful AI-ML algorithm-based inventory placement technique to position things closer to your customer. The goods are already at the fulfillment facility closest to the customer when they place an order with WareIQ, making WareIQ one of the best warehousing companies in Kolkata. The product may be delivered the same day or the following day by one of our shipping partners. Are there logistical centres or warehouses of WareIQ in other major cities other than Kolkata?WareIQ has warehouses across many tier 1, tier 2 and tier 3 cities. Most cities, including all metro areas, are covered by the WareIQ fulfilment network, including Delhi NCR, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Pune, Guwahati, Kochi, Jaipur, Indore, Lucknow, etc. Which are the top warehousing company in Kolkata?The top companies as per services offered and customer or client reviews are:1. Warehousing Express2. Tewari Warehousing Company3. WareIQ What is the cost of using a warehousing company in Kolkata?We all know Kolkata falls under eastern India’s top warehousing hub. The cost of using a warehousing company in Kolkata varies depending on factors such as the amount of space required, the length of time goods will be stored, and the services required. You can get your quote here. Name a few top 3PL - third-party logistics companies in Kolkata in 2023.Some examples of 3PL companies in Kolkata include:i) Purolator India Private Limitedii) Arshiya International Limitediii) WareIQ Logistics Pvt Ltdiv) DHL Supply Chain Indiav) DB Schenker India Private Limitedvi) NNR Global Logistics India Private Limitedvii) Kuehne + Nagel Private Limitedviii) Agility Logistics Private Limited

January 15, 2023

What Are Backorders In Supply Chain? Why Are Backorders Generated In The Supply Chain and How To Cut Back On or Avoid Backorders?

Global retail eCommerce sales were estimated at 5.2 trillion dollars in 2021. By 2026, this amount is expected to have increased by 56%, totalling roughly 8.1 trillion dollars. There has been increased interest in eCommerce backorders to protect revenue in light of the supply chain problems we have encountered on a global scale over the past few years. Business owners have been forced to decide between displaying their products as completely unavailable or as backordered for the time being because product availability still needs to be determined for numerous online stores and big marketplaces. Backorders are orders placed for items not currently in stock in eCommerce. A product is on backorder if it isn't in stock but is still accessible to customers for purchase. Customers who backordered items will have to wait longer to obtain them. The length of the customer's delay depends on where the supply chain shortfall occurs. Suppose the manufacturer is to blame for the supply shortfall. In that case, the consumer may have to wait an extended period, which would be detrimental to their satisfaction. Backorders in supply chain can be avoided, and customer loyalty can be increased with effective inventory management and communication throughout your supply chain. What Are Backorders in the Supply Chain? Backorders in the supply chain are requests that sellers guarantee to fulfill despite not having the requested item in stock. Your consumer agrees to hold off until the shipping date specified in the guarantee. As an illustration, suppose you are selling a product and have received orders from three clients. They want four products each, but you only have seven in stock. In this circumstance, you must complete more than one order while letting the other three go unfulfilled and losing them to the competitors. A better solution would be to send one item to each of them and tell them that the rest of their order will be fulfilled soon. Back-ordering is a process that is widely used in the eCommerce sector. What Differentiates a Backorder from an Out-of-Stock Item? The topic of "what's the difference between something being on backorder vs it being out of stock" is one that many novice eCommerce business owners (and their consumers) face. Although there is a clear difference between the two expressions, they both refer to an inventory deficit of some sort. Backordered items only experience a brief shortage because the manufacturer or supplier produces or brings extra inventory. A commodity out of stock might never be produced, meaning it might never be sold directly to the public again. Backorders in supply chain essentially makes the item temporarily unavailable, but an out-of-stock item can be lost forever (barring hypothetical returns, refurbishments, or future reissues of that item) How Does Backorder Affect The Supply Chain In eCommerce? Backorders might cause more damage to a supply chain that is longer than usual. For example, imagine an online retailer with a well-liked product currently on backorder. When the retailer orders from their supplier again, the latter must fulfil the steady demand and the additional backorder stock. The distributor or manufacturer bears the additional burden if the supplier has yet to have the product available to fulfill the reorder. As more and more stock is bought and produced to satisfy the need, the additional demand from those backorders is amplified at each checkpoint in the supply chain, from supplier to distributor to manufacturer. It's common to refer to this extra stock as buffer stock. The bullwhip effect, a severe overcorrection in the supply chain that can emerge from unanticipated demand variations, can result in excess inventory and increased costs. Why Are Backorders Generated In The Supply Chain? Backordering puts pressure on the supply chain and puts its responsiveness to the test for any firm. It could happen due to a need for more control over the factors governing the production process. As a result, the issue could occur at any point in the supply/production cycle. However, for your convenience, we've included the top three explanations below: Unprecedented Demand Growth Despite advanced sales forecasting, it is frequently challenging to predict spikes in demand. Online retailers rely on predetermined techniques to best capitalize on them because they are unavoidable. However, your marketing may also be a likely cause of demand spikes. Maintaining appropriate inventory levels is equally important to keep your marketing initiatives in sync with the supply chain. In addition, endorsements like affiliate marketing or influencer marketing might lead to unexpected demands for your items. Inappropriate Vendor Management Backordering can occur for various reasons, such as inadequate vendor management systems or insufficient sourcing options. For instance, if your vendor doesn't deliver the goods on time, you'll have to deal with backorders in supply chain chaotically even though demand patterns have stayed the same. In addition, due to the goods being sold by your rivals, your clients may also be looking for other suppliers. Improper Inventory Management Errors are sure to occur if a company doesn't have the proper stock levels or cannot track its inventory movement. Each online store has more SKUs than ever, and trends are shifting more quickly than before. Backorders in inventory management must be used to maximize eCommerce operations in such situations. It ensures you can see your inventory clearly and won't accidentally commit any items only to discover differences afterward. Production Constraints Your supply chain may have problems, which could lead to a backorder. Your supply chain may need to prepare for an unexpected demand increase for its raw materials. This might make it challenging to supply vendors, which would reduce output. Supply chain issues, however, frequently arise from improper communication between the various parts. If someone further down the chain makes a mistake, the ripple effect will reach you and get stronger. For example, consider a scenario where you, the retailer, asked your wholesaler for a specific inventory quantity. As a result, the wholesaler may order less than you recommended if they are especially cautious about being safe. From the distributors to the manufacturers, there will be a continual "ripple effect." As a result, you'll ultimately receive a small portion of what you ordered when you place your order. Lower stock levels and possible backorders are the results of this. Human Error Even if the item is in stock, a staff member may enter an order as a backorder. Even worse, a shop could approve a backorder for an item even though it's not in stock. This could result from a mistake or a delay in inventory updates. Inadequate Safety Stock Most businesses have insurance policies to prevent out-of-stock problems, even if the supply chain malfunctions. An excess stock used as a backup in emergencies is a safety stock. Safety stocks help you stay afloat in the event of rising demand or low supply. Backordered goods may occur if you pay more attention to the quantity of safety stock you need. How To Cut Back On or Avoid Backorders in 2023? Backordering can occur accidentally or as a result of poor preparation. For example, suppose your business is experiencing backorders in supply chain issues that negatively hurt your sales and inventory turnover ratio. In that case, there are a few strategies to prevent the problem. Demand Forecasting Utilizing previous data and trends, demand forecasting projects future sales and demand. With enough information on sales and inventory trends, a company can identify patterns that will help them order goods at the right amounts. Handling backorders in inventory management with help of software makes this simple. Additionally, consider how many days of inventory you anticipate having and whether your supplier has a minimum order amount (minimum order quantity) Lead Time Management Source Your supplier's lead time in supply chain is the period it takes for you to receive a product from them. This period may be influenced by several variables, including how long it takes your supplier to obtain the raw materials, how long it takes them to produce the product, and how long it takes to examine the finished good. Find strategies to shorten the lead time by coordinating with your suppliers. Start discussions about developing improved turnaround times if you've discovered that they frequently deliver their products later than anticipated. There are more effective ways for both parties to work together and meet needs. Appropriate Safety Stock Stock intentionally purchased as a reserve in case demand spikes is known as a safety stock. When the regular inventory runs out, access to this stock from storage is made. Doing this guarantees that your consumers will never have to wait to buy the goods you have for sale. A fantastic strategy to guarantee that stock levels are consistently tracked has a dedicated order management specialist who can perform a regular inventory audit. Diversify Your Suppliers To maintain high inventory levels, having several manufacturers and suppliers on your team can be helpful. Since you'll have an alternative to working with, this helps to ensure that supply chain problems at one manufacturer don't leave you stranded. Additionally, having access to two inventory sources allows for quicker fulfilment of backorders when demand is very high. Engage With Your Customer Be sure to inform your customers immediately if a problem results in a popular product going on backorder in the supply chain. People are less likely to experience surprises from delays if there is an alert posted on the product's page along with an estimated return date. Additionally, it would be beneficial to mention the cause of the backorder to assist in managing client expectations (manufacturer supply issue, unexpected high demand, etc.). Finally, customers may choose to be notified when a backordered item becomes available again, allowing them to purchase it. So, it is important to provide a good customer service experience. Collaborate With a 3PL A third-party logistics provider (3PL) can enhance the backorder customer experience by speeding up the fulfilment of backorders. They can offer fulfilment services to keep your backordered goods moving smoothly through the supply chain. A backorder product's delivery is accelerated by the warehouse management team of a 3PL fulfilment centre when it arrives there. Cross-docking is moving a product directly from the warehouse to the shipping dock instead of other products going to the shelves like other products. Before making unavailable items available, consider looking for a 3PL to handle and expedite backorders. Conclusion Backordering may be seen adversely by management, but it shows how valuable your brand is. Furthermore, it communicates your market dominance and the idea that customers would rather wait for your product than purchase a similar one from a rival. As a result, every eCommerce business must carefully balance the excitement of their clients to wait for them with their frustration at having to wait too long. You may handle such scenarios and effectively satisfy market expectations with appropriate tools and best practices. Get Assistance From WareIQ's AI-Based Inventory Optimization Tool - InventoryLogIQ and Bid Farewell To Backorders With the help of WareIQ's B2B fulfillment services and Inventory LogIQ, an inventory optimization tool, you can track stock levels in real-time, set reorder points and safety stock, and analyze historical data to learn more about your top-selling SKUs, inventory velocity, ideal distribution, and other topics while also expediting orders to provide the best possible customer service. Bottom line: Should you encounter backordered products, we'll work with you to fulfill them as soon as your inventory arrives. With WareIQ, you can accept backorders, create purchase orders for them, and get real-time visibility. Recognize Products That Are Appropriate For Backordering Retailers now have the much-needed insight they require regarding each supply chain step thanks to WareIQ's inventory management and fulfilment platform. However, WareIQ also helps with inventory tracking, minimum order amounts, and production lead times across every supplier or distributor, in addition to integrating your eCommerce operations within one complete dashboard. As a result, you will have better insight to decide which products are suited for backorder and which should be maintained in stock for your company. Automation Can Enhance Backordering and Other Inventory Operations Numerous automation is built into WareIQ's sophisticated and cutting-edge inventory management system to boost company intelligence, boost productivity, and reduce operating expenses. As a result, backorder efficiency in supply chain management can easily increase by automating your inventory procedures. For instance, to guarantee that backorders go as smoothly as possible, WareIQ's comprehensive automation provide notifications on your inventory levels, watch your order status, and source real-time inventory data. Determine The Root Of The Problem To Promote Brand Growth There is no denying that every eCommerce business aspires to expand and develop its brand. Fortunately, WareIQ's inventory management programme includes all you require to grow your company for a very long time. With WareIQ's forecasting tools, you may get pertinent information to inform your choices and identify the root of backorders across your warehouses and distribution networks. Additionally, merchants may monitor savings to serve their consumers better, resulting in longer-term customer loyalty and retention. [signup] Backorders in Inventory Management: FAQs What exactly are partial backorders in the supply chain?When only a portion of an order is out of stock, it is known as a partial backorder. When partial backorders occur, a firm has two options: split the shipment (i.e., ship the in-stock items right away, and ship the backordered items later) or wait until all of the things are available before shipping the order. Why do backorders take place?A backorder in supply chain is created when an order cannot be filled immediately after it is placed because it is not currently in stock with the seller. However, the product is still being produced or accessible from the distributor. How do backorders work?Backordering permits orders from consumers even when you don't have enough inventory on hand. When sales suddenly spike and inventory cannot keep up with demand, businesses use backorder in supply chain to prevent stock from running out. How should backorders be handled?There are several approaches you may take if you're dealing with backorders to serve your consumers better. The best advice for dealing with backordered products is to postpone payment processing until the order can be filled, provide partial shipping of a more significant order, update your product page to reflect the backorder status, and review your status of backorder in inventory management.

January 14, 2023

Stranded Inventory: Impact, Causes & Solution

While it may not receive as much spotlight, Stranded Inventory is an essential KPI to track by Consumer brands. Last year, sellers lost $1.5 BN of sales on Amazon due to stranded inventory. While they lost sales, they continued to pay fulfillment providers with heavy storage costs. Double Whammy! Source With stranded inventory, your seller ratings go down on Amazon thereby impacting your future sales potential. What is Stranded Inventory? Stranded inventory is the sellable inventory in the fulfillment center that does not have a buy option on your website or marketplaces like Amazon. Stranded inventory can have a negative impact on a business's financial performance, as it ties up valuable capital that could be used elsewhere. It can also lead to operational inefficiencies and can negatively impact customer satisfaction. Examples of Stranded Inventory Seasonal items that do not sell well during the off-season, such as Christmas decorations in the summer.Obsolete technology products, such as outdated smartphones or computers.Slow-moving items that have been on the shelves for an extended period of time, such as fashion items that are out of style.Products that are no longer in demand due to changes in consumer preferences or market trends, such as CDs in the age of streaming music.Overstocked items that were purchased in bulk but did not sell as well as expected.Items that have been discontinued by the manufacturer and are no longer available for purchase.Raw materials that are no longer needed because the production process has been changed.Items that are perishable, such as food items that have reached their expiration date. Why Does Inventory Get Stranded? Low Demand for SKUs or quality issues leading to low ratingAmazon policy violations: Product safety concerns, IP violationsSeller initiated stranded: Closed/Deleted listings, System error due to listings missing critical details How Can You Reduce Stranded Inventory (using AI)? Smart Demand Forecasting: AI algorithms can use past sales data and trends to make more accurate demand forecasts and reduce stranded inventory riskInventory optimization: Optimizing inventory levels through consideration of lead times, demand patterns, and carrying costs can help reduce stranded inventoryChose Fulfillment provider with faster stock inward SLAsPrice optimization: Analyze data on past sales and market conditions to optimize prices and reduce the risk of stranded inventory due to unsold products.

January 11, 2023

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