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What is Warehouse Putaway Process? Best Practices To Be Adopted For Optimizing Warehouse Putaway Process in 2024

What is Warehouse Putaway Process? Best Practices To Be Adopted For Optimizing Warehouse Putaway Process in 2024

Warehouse managers have consistently identified the warehouse putaway procedure as one of the significant causes of warehousing inefficiency throughout the years. The putaway technique utilized by many warehouse managers evaluated was incredibly inefficient. To improve the pick-pack-ship process and protect the security of goods, equipment, and workers, warehouses must have a precise and effective warehouse putaway procedure. A warehouse is always in motion from when an order is placed until it is sent. Therefore, getting putaway properly might be crucial for your company because it's one of the most necessary warehousing procedures. The many putaway tactics, their advantages, and how a 3PL may aid in enhancing warehouse inventory management will all be clarified in this article. What is Putaway Processing in Warehouse? Source Putaway in the warehouse is an essential part of warehouse management, which includes a number of procedures beginning with receiving in the warehouse and concluding with ensuring that inventory is kept in the proper warehouse locations. However, it involves much more than merely transferring the stuff from place A to place B. It becomes considerably more effective and straightforward to store goods without losing any SKUs with a systematic warehouse putaway system. Additionally, this procedure enhances warehouse organization and makes it simpler for pickers to locate the required SKU fast. [contactus_lilgoodness] Types Of Warehouse Putaway Process Although the warehouse putaway process(from dock to stock) may appear like a straightforward procedure, it has to be carefully planned because it is an essential part of storage. You might select one of these three kinds of warehouse putaway based on the kind, amount, and diversity of physical goods you have as well as other distinctive aspects of your company: Source Fixed Position Putaway Retailers who need to store a wide variety of products in the warehouse and want them to be accessible to customers may adopt this procedure. A distinct warehouse area designed for storing each type of commodity is allotted to it. For instance, preserved food will always be kept in a space with a regulated temperature. Additionally, heavier items will be housed in the bottom racks of the warehouse, while lightweight items can be held on the higher shelves. Dynamic Putaway Do you have a uniform mix of products? Are their physical attributes—size, weight, etc., similar? For that, pick a dynamic putaway to simplify stock retrieval and storage. Demand management is prioritized as judgments are made in real-time regarding where to put incoming inventories. Depending on the number of their sales, the items must be housed in the most accessible areas for quick collection as soon as they enter the warehouse. On the other hand, keeping track of the items is more challenging without a robust tech-powered ERP like warehouse management software because they are stored in new locations every time. Direct Putaway Direct warehouse putaway necessitates the least amount of product handling. Straight putaway, you may store the entire batch in a designated area without going through each item. For instance, putting the order away makes more sense than separating and storing each product if it is only for one buyer. Factors Affecting the Warehouse Putaway Process Depending on these three key elements, you should pick one of the putaway methods: Putaway Considering Movement Order fulfilment times may decrease by using ABC analysis to store things based on movement. Fast-moving goods, referred to as "A" categories, should be maintained close to the staging area and at an appropriate height so they may be picked up and prepared for shipment immediately. Similarly, "C" category items that move slowly should be stored towards the back of the warehouse. Putaway Based on the Kind of Package Products can be stored using this strategy based on their package. For instance, regardless of the type of goods, pallets and individual products can be stored in various places. Similar distinctions can be made between shipments depending on weight, shipment type, storage needs, and more. Utilization-Based Putaway Several goods are frequently combined, such as gas stoves and kitchenware. Employees can streamline the warehouse putaway process by grouping these goods according to their usage and the reasons they are being transferred. Benefits Of Warehouse Putaway Process An effective warehouse putaway procedure may result in less expensive and speedier outbound operations. A warehouse can gain the following main advantages by employing a planned and efficient putaway process: Optimizes The Layout Of The Warehouse You may make the most of your available retail warehouse space by adequately planning the workflow of your putaway procedure. It is simpler to keep things where they belong by grouping items of the same shape and size together and separating them based on various factors. By doing this, you may avoid disorganized inventory management that can limit warehouse employees' freedom of movement and ability to complete timely picking and packaging. Enhances The Selection Process Pickers wander about the warehouse for more than half their typical workday, looking for the items on their order. Travel can account for 50% of the picking time and another half of the total labour cost. They may significantly save the time it takes to look for items and complete an order by putting a solid warehouse putaway process in place. A practical choice procedure is unquestionable. Accurate Inventory Management Human mistakes and inaccurate inventory management systems can be expensive for the company. In the warehousing business, the typical picking mistake rate ranges from 1 to 3 per cent. This translates to an average cost per inaccuracy and a profit drain of up to 15%. You can accurately track where each product is, how much there is, and many other things when you have a putaway procedure. Additionally, it lessens the likelihood of losing or misplacing an item. Increasing Stock of High-Value Products Stocks of high-volume items can be increased by keeping them in an area that is simple to access and keep track of. Additionally, it stops pickers from repeatedly searching the warehouse for a specific item and delaying order fulfilment. You'll be able to tell right away whether the stock is falling. Suggested Read: Smart Warehouses Management System Best Practices to be Adopted For Optimizing Warehouse Putaway Process [2024] When improving warehouse operations, warehouse managers frequently overlook the putaway process, even though it is a crucial step in raising warehouse productivity. The selecting process, in particular, is directly impacted by the initial arrangement of the products in the warehouse. Travel and picking and packing times are longer when things are not kept in the most convenient place. The security/integrity of the cargo and the employees' safety are also at risk when cargo is not stored in the most advantageous position. The best practices and technology that warehouse managers may employ to enhance the warehouse putaway process and boost warehouse productivity in year 2024 are listed below. Collect Data and Report Analytics In Real Time Data is king when it comes to optimizing warehouse operations and putting in place a productive putaway procedure. Data on order/sales volume, storage availability, cargo category (e.g., Hazmat, perishable, high value, etc.), cargo size, weight, and height must be recorded regularly to determine the ideal storage site. As a result, two essential components of the warehouse management system (WMS) are required: sufficient and flexible data collecting capabilities and ongoing data analysis. The next stage is ensuring that we are collecting data reliably and effectively by automating warehouse collection as feasible after the relevant WMS is in place. This will enable us to eliminate entry mistakes and cut back on overhead. For instance, an integrated digital weighted scale may collect cargo weight data, while a package or pallet dimensioning system can gather data on dimensions. Both approaches automate these processes and do away with data entering mistakes. Keep an Eye on Space Availability and Storage Capacity By keeping an eye on storage capacity and availability, saving wasteful journey time to places with an insufficient room or ability to store the cargo and boosting warehouse efficiency is possible. To monitor capacity and space availability, warehouses may track used/unused space throughout warehouse zones using barcode scanners and bin positions. Currently, the majority of warehouse management systems support this method (WMS). This system, however, is vulnerable to human error since it depends on the warehouse clerk to scan the position of the bin and the contents each time they complete a putaway or pick action. The use of RFIDs to automatically record tasks without human interaction is another strategy. The usage of RFIDs in conjunction with more sophisticated solutions, such as sensors, will be part of an ecosystem of technologies to enable real-time tracking of capacity and space within the warehouse, even if this solution is still being adjusted and tested. Shorten Travel Time Another crucial element in streamlining warehouse operations, including the putaway process, is cutting down on travel time. Again, the aim is to reduce the time for items to transit from the receiving region to the storage site. Warehouse managers may perform an ABC analysis to comprehend high volume/frequency cargo better. Then, to cut down on trip time, the warehouse layout should be modified (if required) to bring high volume/frequency goods closer to shipping locations. For this to work, it's critical to continuously monitor order volume and frequency and adjust when significant alterations occur. Another option to reduce travel time is to designate routes that take the quickest way to the storage site. Warehouse managers should consider things like distance, warehouse traffic jams, and potential conflicts with other procedures that need movement. When Possible, Utilize Direct Putaway Process In Warehouse Whenever feasible, employ straight warehouse putaway as another great practice. With this technique, no staging phase is involved in moving the goods from the receiving region to the final destination. This method expedites the procedure while requiring less handling and warehouse space because it does not require specific staging areas. When putting this strategy into practice, it's critical to remember that the WMS must be able to assign final locations from the point of delivery at the receiving dock or from the advance shipment notice (ASN). Without this ability, it is nearly hard to manage an efficient straight warehouse putaway operation. Use Both Fixed and Moving Locations If the circumstances permit, utilizing a balanced combination of permanent and dynamic locations is also conceivable. A fixed placement is a predetermined storage area, warehouse zone, lane, or bin designated based on specific criteria. For instance, a fixed location may be connected to a particular client, product category, or end destination. Because warehouse employees can remember the precise position assigned to each container, fixed locations help the operation run more efficiently. Dynamic locations, on the other hand, offer greater flexibility since they let employees place anything in the first empty spot they come across. A trustworthy inventory management system is essential when employing dynamic locations to track products and locations. Additionally, high-volume seasonal products can be temporarily stored close to pickup sites using dynamic placements, and when volumes change, they can be swapped out for another item(s). Keep Warehouse Clean and Organized Lastly, an effective process might depend on having a tidy and organized warehouse and distribution centre. A crowded and disorganized facility will directly impact the pace at which items are stored. To get to the intended place, clerks must first discover suitable spots, shift freight to make room for it, and negotiate barriers. Most significantly, disorganized warehouses put workers at greater risk for injury and raise the possibility that the integrity of the cargo might be compromised. Streamlining your warehouse procedures or utilizing the newest technologies won't help if your warehouse isn't clean and orderly. Conclusion The warehouse putaway process is equally critical to the warehouse as picking, packing, and shipping. It remains, nonetheless, one of the most overlooked features of the warehouse. Businesses that don't implement an efficient warehouse putaway procedure may encounter various issues, including decreased production, product losses, ineffective inventory management, and more. Warehouses and fulfilment centres cannot afford to adopt a complacent mindset and allow process inefficiencies to impact productivity negatively and, in turn, the customer experience in today's fast-paced and always-changing consumer market. Therefore, there is a more critical requirement for constant visibility and data-driven business advice to make all fulfilment operations error-free. How Can WareIQ Enhance The Putaway Process In Warehouse With technological solutions, WareIQ assists e-commerce businesses in optimizing putaway and other warehousing procedures. Our distribution and fulfilment services make monitoring warehouse KPIs incredibly simple and expedite the warehouse putaway process. This increases your company's capacity for inventory optimization. Additionally, our clients have access to a network of fully functional distribution facilities, complete with staff and other services for warehouse management. The technology, support, and expanding distribution network made possible by WareIQ's warehouse network system enables retail enterprises to scale. [signup] Warehouse Putaway Process: Frequently Asked Questions (FAQs) How does the warehouse putaway strategy work?A putaway system employs rules to move things from a received shipment to the appropriate locations in warehouses. As a result, items are kept in the appropriate places in accordance with their storage condition needs. What distinguishes warehouse storing from warehouse putaway?Direct putaway is the act of moving a newly received product right away to its ultimate destination in your warehouse. As soon as things come, you get ready for distribution rather than storing them. Define the warehouse putaway plan.You can maximise warehouse space, resources, and product quality with the use of a putaway strategy. You must use an inventory storage system to account for the projected receipt and the present backlog in order to determine how many resources and how much space will be needed for the putaway. Can technology such as RFID or barcode scanners be used to improve the warehouse putaway process?Yes, technology such as RFID (radio-frequency identification) and barcode scanners can be used to improve the warehouse putaway process. RFID tags and barcodes can be attached to inventory items and used to track their location and movement within the warehouse. This information can be used to optimize the putaway process by helping to ensure that items are stored in the most efficient locations and making it easier to locate items when they are needed.In addition to tracking the movement of inventory, RFID and barcode scanners can also be used to automate the putaway process by providing real-time updates on inventory levels and alerting employees when items need to be restocked or moved to a different location. This can help to reduce the time and effort required to put away inventory and improve overall efficiency in the warehouse. How do I train my employees on the warehouse putaway process?Some suggestions for training your employees on the putaway process include: creating a training program that covers all necessary steps, using visual aids such as diagrams or videos, providing hands-on learning opportunities, offering ongoing training or refresher courses, and giving feedback and support to improve skills and efficiency.

July 30, 2022

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What is a Pure Play Retailer? A Comprehensive Guide for eCommerce in 2024

What is a Pure Play Retailer? A Comprehensive Guide for eCommerce in 2024

It is very common to hear that an eCommerce seller with no brick and mortar store that is selling their products upfront, generates a huge number of sales and earns a handsome amount of money. The reasons for choosing this route can be many, like lack of capital, having fewer resources, operating other businesses, small manufacturing units, etc. The retailers who operate under these circumstances in the eCommerce space are called pure play retailers. In this blog, we will go into detail about pure play eCommerce and the differences between eCommerce sellers and physical store owners.  What is Pure Play Retail? Pure play retail refers to a business that only sells through one channel or only sells a single line of products instead of selling multiple product mixes. In the context of the eCommerce industry, pure play retailers only sell on online channels and do not have a physical store.  Many business owners decide to concentrate on a specific kind of good or service, which means that they run a pure play business. For instance, Boat only focuses on making earphones and electronic products like charging cables. The phrase "pure play" can also refer to huge organizations and eCommerce businesses that focus on a single industry like coffee or home furnishings. [contactus_uth] Pure Play Retailers vs. Omnichannel Retailers [table id=42 /] Advantages of Pure Play Retail over Omnichannel Retailers Lower Costs Pure play eCommerce can be substantially less expensive than multichannel shopping as long as your company has a robust order fulfillment service. The only significant expenses for pure play retailers are website maintenance and order fulfillment as there are no shops to operate. With the appropriate order fulfillment provider, you can reduce shipping costs and avoid investing in your own warehouse, personnel or infrastructure. Scope for Better Customer Experience Pure play retailers can focus all of their attention on enhancing the consumer experience through the channel they operate on because they only have one channel to maintain. Addressing customer issues, troubleshooting problems and creating a checkout and post-purchase experience that excites and retains customers can be given more time, money and focus. Disadvantages of Pure Play Retailers over Multichannel Retailers Lower Brand Visibility It might be challenging to promote your brand in front of customers without a physical presence and the touchpoints it offers such as signs, shop floor employees and shopping bags. Even if your digital marketing strategy is effective, pure play retailers may find it challenging to obtain loyal, repeat customers and capitalize on branding opportunities. Returns May Cost More Money In brick and mortar stores, the client needs to invest their own time and money to physically transport the product back to the shop it originally came from and they are responsible for covering any in-store return transit fees. For pure play shops, in-store returns are not an option and if a consumer wishes to return an eCommerce order, you can end up paying freight twice. This could gradually reduce your profit margins, especially if you sell a product that is frequently returned after being purchased online. Importance of Fulfillment Companies to Run Pure Play Retail in 2024 Ability to Offload Key Procedures Pure Play Retail is run only online without a brick-and-mortar store. They only have a virtual shop that is run through their website or a third-party selling channel. So if they are focused on eCommerce selling and get orders from across the country/world then they surely need a fulfillment company to manage their inventory in multiple locations, forecast demand, deliver the product after order placement and other necessary procedures. Access to Optimization 3PL companies will optimize your fulfillment and shipping processes if you want to take advantage of the cost savings and ease that pure play eCommerce offers. Online merchants of all sizes can manage inventory with the aid of third-party fulfillment which completes orders quickly and affordably, and satisfies consumers. Ability to Save on Expenses When partnering with a fulfillment company, pure play retailers can get access to a bunch of features for relatively cheap prices. They also do not sell products offline so they can reduce the expenses needed to keep extra manpower because ultimately, these resources will be underutilized. The money will be better utilized in giving extra discounts, marketing and positioning and investing it back into the business. Conclusion Pure play eCommerce comes with multiple advantages, especially for retailers that have newly entered the eCommerce industry and don’t have access to large amounts of investment and resources. Thus, if you want to sell products on online marketplaces without needing to invest in a physical store, it could be a good option for you, If you need best fulfillment service partner, you can opt to partner with WareIQ. When you delegate fulfillment tasks to WareIQ, you will get access to a large number of strategically, well-chosen, decentralized fulfillment center locations across the country. Merchants can significantly save on shipping costs by storing their products across our fulfillment network, allowing them to store their inventory closer to their customers. In order to smoothly and automatically send online orders for delivery, WareIQ’s WMS can integrate with more than 12 eCommerce platforms. Through WareIQ's dashboard, retailers can keep an eye on inventory levels, fulfillment processes, monitor orders and have access to other crucial information in real-time while also analyzing data to grow their business. Additionally, WareIQ's comprehensive B2B suite enables retail distribution for businesses as soon as they are ready, in addition to facilitating online expansions into online marketplaces and social channels, when you ever decide to expand into omnichannel retailing. WareIQ also equips you with an RTO shield which will protect you from the negative impacts of returns. Pure Play Retailers: FAQs Why is pure play a good option?Pure plays are easy to assess and provide the most exposure to a specific market niche and thus, some investors favor investing in them as opposed to other businesses. What is pure play in digital media?A pure play business like Netflix unlike Amazon only concentrates on one specific commodity or service. An investment in a pure play business might be compared to an investment in a specific good or service offered by the business. What are some pure play companies?Pure play companies are mostly eCommerce sellers but can also be major firms like Starbucks. Additionally, pure plays can be huge enterprises such as KFC and Dunkin' Donuts coffee shops. What are pure play retailers?In the context of eCommerce, pure plays retailers are companies that purely do their business online and on one channel.

July 29, 2022
eCommerce Catalog Management: A Definitive Guide Including Definition, Challenges, and 10 Best Practices in 2024

eCommerce Catalog Management: A Definitive Guide Including Definition, Challenges, and 10 Best Practices in 2024

Your customers expect consistent product information from you. They appreciate rich images that will help them visualize your products clearly. They want to be able to browse various product categories on your website as efficiently as possible. Without eCommerce catalog management, your product database is bound to deteriorate and hamper your business eventually. Surveys reveal that 30% of adult online shoppers would consider purchasing from an online retailer they have never shopped with previously if the retailer provided detailed product information. This means that a website that is simple to navigate, contains current information, and has eye-catching product images will not only draw in repeat customers but will also enhance the likelihood of turning indifferent visitors into devoted ones. In this blog, we will learn about eCommerce catalog management, why it is necessary, common problems faced and the 10 best techniques to make the most of it. What is eCommerce Catalog Management? eCommerce catalog management refers to the process of ensuring that your product database is structured, up-to-date, and organized across all online sales channels. Because it enables customers to locate what they're looking for and feel confident making a purchase based on the information supplied, eCommerce catalog management is a crucial part of developing an online brand. It aids retailers in managing product catalogs for various audiences and helps with inventory tracking across numerous channels for logistical objectives. Although different products require different details and information, product catalogs for online retailers often include information such as color options, pricing, sizes, the country of origin, materials, and more. [contactus_gynoveda] Why is eCommerce Catalog Management Necessary? Both B2B and B2C customers are accustomed to doing their product research and purchasing online these days. Therefore, in order to fulfill these client habits, make sure your products are visible and easily available online so that you can maintain your competitiveness. In order to enhance the purchase experience of customers, your firm needs to have a well-managed online product catalog. Concise and thorough eCommerce product catalog management will also help you establish yourself as an authority in your field and win over customers to your online store. 6 Common Problems With Product Catalogs Problems in eCommerce catalog management can have a negative impact for a variety of  reasons which include: Processing Product Data Manual entry is inherently laborious and error-prone. Although there are a few choices, such as management systems and automation technologies, eCommerce startup businesses can find it challenging to control operating costs. Absence of an Integrated Storage System When a firm grows, using several spreadsheets to keep inventory data causes errors and takes time. A unified data management system is required by vendors and suppliers to remove inconsistencies and search for disparities. Many retailers don’t have the financial resources to invest in these solutions so eCommerce catalog management suffers as a result. Inefficient SKU Replenishment Poor SKU management can cause stockouts and other inventory problems that go beyond product cataloging. It is challenging to track which things need to be reordered, where to store certain items based on demand, and ensuring the information presented online is accurate across channels with the ability to track inventory by SKU number. Difficulty in Integrating Channels Running a multi-channel marketing strategy is essential for reaching audiences and guiding them through the sales funnel. However, many B2B businesses find it difficult to optimize their offerings on several channels, especially if they don’t have a competent WMS to assist. Increase in Time Consumption You may find it challenging and time-consuming to refine and repurpose ERP datasheets for eCommerce product catalog management. Additionally, investing money in data sheets does not always result in high-quality customer-facing content for ongoing updates. Lack of Planning for Multiple Audiences Some eCommerce businesses have multiple catalogs for different audiences such as one for B2C orders and another for B2B. A common mistake is not considering the audience type of each catalog. As a result, the information across catalogs is too similar. This can cause issues, especially if you want to display bulk pricing only for B2B customers. Ensuring that you display the right information for different types of catalogs based on the audience is critical.  Solution: Always Think of the Customer The best way to achieve efficient eCommerce catalog management and streamline different product catalogs based on different audiences is to consider all audiences when curating a catalog and set it up that way in your eCommerce platform. By utilizing inventory technology to automatically display the appropriate details and information for each audience, it is possible to save manual labour and increase accuracy and consistency. 10 Best Techniques for eCommerce Product Catalog Management in 2024. We've compiled the following 10 best practices for managing your eCommerce product catalog to assist you in overcoming various obstacles, which are listed below: Build Brand Confidence With Reliable Product Details Make sure your customers feel at ease using your eCommerce site while they shop when implementing eCommerce catalog management. Visitors to your online store should feel confident doing business with you since this will increase their likelihood of making a purchase. You must provide complete and accurate information in your product catalog if you want to accomplish this goal.  To create high-quality product content, you can start with the three factors listed below: Incorporate Thorough Details in Your Product Catalog: You should give your buyers all the information they require to quickly evaluate your offerings. Technical characteristics, visuals, inventory data, measurement units, and product usage combinations should be included. This material must be understandable and simple to navigate.Verify That All of Your Information is Current: Assisting customers in making informed judgments will improve their purchasing experience. Consider both your static data, such as product specifications and your dynamic inventory data. If necessary, designate someone to be in charge of each adjustment. A different option is to attempt to link your web store inventory to your ERP inventory records so that your web store inventory levels are automatically updated.Use Top-Notch Images to Illustrate Your Items: Visitors to your online store will be drawn in and engaged as a result of high-quality images. Utilize several media forms to take it a step further. Tag and Group the Products in Your Digital Catalog By giving your customers the opportunity to filter, enhance and sort the product information on your website store, you can make it easier for them to explore your digital product catalogs. All of your products should be consistently tagged and categorized to have successful eCommerce catalog management. But remember to approach this from your customer's point of view. Consider how people may search your website and how they might browse for information. Make sure you don't restrict crediting your products to size and color alone.  Make sure that all product tags are uniform. For instance, do not alternate between labelling things with "medium" and "M". Instead, solely use "medium" to denote a product size. Make sure that all measurement units are identical. Use either inches or centimetres, and not both, when describing your goods. Implement Process Mapping for Your eCommerce Catalog Management eCommerce product catalog management is a complicated procedure, as was already indicated because of the involvement of numerous stakeholders. Making a process map for your catalog management can help you solve this difficulty. The locations of your internal and external stakeholders along this process can then be determined. You can gain a comprehensive grasp of the following through this mapping process: What steps in the catalog management process are impacted by stakeholders?Who is impacted by the modifications to your catalog?When do people experience the effects of the process? The mapping method enables you to rapidly identify the precise stakeholders to contact when your eCommerce product catalog needs to be updated. Let's take the example of a wholesaler who wishes to add a few products to their online wholesale ecommerce store. You would be better able to comprehend the steps you need to take and in what order if you had a clear map of your catalog management process. Then you'll be aware that you first need to gather the new product information from the suppliers, determine whether your courier can package the new products using the available resources, commission a product photo shoot with your agency, and ask your internal content team to write the product description, consult with your logistics department to obtain the documentation for new SKUs, etc. Offer Comparable and Alternative Products At a physical store, when customers want to check out, they go to the register. Products that may have been forgotten or missed are visible in the checkout area before they take out their credit card to finish the transaction. The same principles apply in an eCommerce setting. If customers can't find the specific thing they're looking for, they should be given options or encouraged to browse similar products. To raise the average order value, don't be afraid to cross-sell and upsell with related and alternative products. Maintain Your Online Store's Database of Product Catalogs Maintaining a database is an essential component of improving eCommerce catalog management because it is a form of information management. The following advice can assist you in maintaining a tidy product catalog database: Keep Your Product Catalog's Source of Truth Consistent: This entails preserving your data in just one database and avoiding its replication in any other system. This is not only more effective but will also eliminate any mistakes.Define the Permission Flows and Roles for Database Modification: Stakeholders will be aware of their precise roles and responsibilities when the product catalog database is changed. Authorization flows also assist you in preserving and protecting the integrity of your data and avoiding data duplication.Examine the Viability of Increasing Your Database if You Plan to Grow Your Product Catalog: Consider whether any future product catalog data can be collected, organized, and handled using your current data structure. In the event that it isn't, you should first consider reorganizing your internal data structure to make sure it is scalable. Choose a Tool for eCommerce Catalog Management You can manage your online store's product catalog with the help of a variety of solutions available on the market. Your online store's eCommerce catalog management can be controlled by:  an independent online store platforma spreadsheet application (e.g. Microsoft Excel)a system for product information (PIM)a website for online shopping that connects to your ERP You should take into account your current tech stack, business size, the complexity of your product catalog, availability of your personnel resources, and whether you have plans to grow to multiple online stores in the future when selecting an eCommerce product catalog management application. Try to maintain a single source of truth no matter which approaches you pick, as noted above, to prevent duplicating product data and running the risk of errors. For instance, you should avoid duplicating the data into a different eCommerce platform if you are already managing your product catalog with an ERP or PIM system. eCommerce that is connected with an ERP makes this possible. Personalize the Product Catalog for Your B2B Online Store If you operate a B2B company, you'll probably have to deal with an additional layer of complexity because your product pricing may vary depending on the customer or the nature of the purchase. For your B2B web business, catalog personalization should therefore be something you really consider. So, pay particular attention to whether your online store has control over the listed price. Additionally, confirm that your eCommerce catalog management solution enables customized catalogs if you decide to deliver various contents to various consumer categories. The content presented to your clients will be more pertinent to them if you choose a customized catalog option. Use an Inventory Management Software Regular inventory checks make sure that the items you list as being accessible online correspond to the actual stock on hand. To prevent backorders or selling an item that won't be restocked, you should update your product page if a product is out of stock. Inefficiencies like stocking too many slow-moving items and inventory shrinkage (when real inventory levels don't match accounting records) can be discovered with the aid of inventory audits. Balance Your Physical and Online Catalogs Consider how to make the two catalogs work in harmony if you use an offline product catalog in addition to your web catalog. In contrast, your online catalog can act as a comprehensive and current source of product information for in-depth analysis and comparisons while your offline catalog can act as a simple-to-read product summary for thorough comprehension and to help customers make quick decisions. Automate Reorder Point Notifications Using comprehensive inventory management software for your eCommerce catalog management requirements can enable you to set reorder points and have them notify you when the stock of a product falls below the level that was set. This will enable automated reorder triggers to the manufacturer in order to be able to replenish that product and avoid further stockouts and customer dissatisfaction. Conclusion The secret to boosting sales and managing a value-driven eCommerce platform is inspiring product data through eCommerce catalog management. People interact with product catalogs to raise awareness and make decisions about purchases. A seamless information flow draws customers back to your store. To organize information and choose appropriate product categories, managing your eCommerce product catalog is essential. If you need assistance with eCommerce product catalog management and any other eCommerce requirement, you can consider partnering with WareIQ, to enhance your digital library and strengthen your competitive edge. While assisting you in expanding your eCommerce endeavours, WareIQ guarantee no hassles and top-notch product data management. We provide facilities such as a nationwide network of fulfillment centers, a custom WMS that provides facilities such as automated replenishment triggers, the ability to track inventory levels across multiple fulfillment centers and get real-time updates, and integration with more than 12 of the biggest eCommerce marketplaces and much more. eCommerce Catalog Management: FAQS What is an online business directory or catalog?An online catalog that features the goods or services of a business that engages primarily in eCommerce is usually referred to as an eCommerce product catalog. This catalog is an example of a larger change in how consumers interact with businesses globally. What does procurement of eCommerce catalog management entail?Suppliers now frequently offer eCommerce catalog management as a component to assist organizations' procurement procedures. If you're not familiar with the word, catalog management refers to internet portals where suppliers can show products to authorized buyers that have been pre-approved by procurement teams. What does content and catalog management mean?The generation and updating of electronic catalogs are made possible by processes, services, and applications utilized in an eCommerce context.

July 29, 2022
What Is Awaiting Fulfilment? Reasons Why Your Order Might Be Awaiting Fulfilment in 2024

What Is Awaiting Fulfilment? Reasons Why Your Order Might Be Awaiting Fulfilment in 2024

There are several steps between placing a purchase online and getting goods, including order fulfilment and shipment. First, the buyer places an order and makes payment on their end. Then, upon receipt of your order, the business will add it to those orders being processed and then ready to be sent. By keeping your customers informed on the status of their orders, you aim to make your online clients feel more involved and informed. Giving consumers order status updates is now standard practice. In a study, 98.3 per cent of participants said they would like to be informed if their shipment was delayed. If you're unfamiliar with the terminology used by e-commerce companies, ordering or purchasing things online might be complicated. When you check the status of your order, you can see the phrase awaiting fulfilment as an illustration. This article will go into great depth on what it means for your order to be awaiting fulfilment to help you with your online purchases. Awaiting fulfilment simply means that the warehouse has not yet begun packing your things for shipping; when you check the status of your purchase, it shows awaiting fulfilment. When they do, the order is given a shipping number and prepared to be dispatched. You could then get a message that your order's status has changed from awaiting fulfilment to fulfilled. To further understand how the pending fulfilment status functions if you receive a tracking message like this, let's take a closer look at some of the terminologies and specifics involved. What Is The Meaning Of Awaiting Fulfilment? One of the steps involved in order fulfilment is awaiting fulfilment. Your order has been received if it displays the order status awaiting fulfilment. It is already in the shipping preparation stage. A confirmation email stating that your item has been sent for fulfilment will be sent to you shortly after. Therefore, there's no need to freak out if you notice the order status: awaiting fulfilment. It doesn't necessarily imply that there's a problem with your order. In reality, it indicates that your package is already prepared and on its way. This order status lets you know that the seller has accepted both your money and your orders. The procedure of awaiting fulfilment is a little drawn out. It begins by removing the products from the stockroom and arranging for their tidy packing. The process continues by having the logistics staff pick up and place the items in a shipping queue. When you check the status of your order, awaiting fulfilment or pending fulfilment may be shown. Essentially, both of these sentences convey the same thing. Usually, fulfilment takes place within 48–72 hours. You'll get an email when the order fulfilment procedure has been delivered, and the order fulfilment procedure is finished. Additionally, you'll get tracking data for your order. You may use this tracking information to find out the status of your order. [contactus_gynoveda] Need to Know Order Statuses Besides Awaiting Fulfilment Following confirmation by the online retailer, the purchase goes through many phases, from the order placing through order fulfilment. You must promote efficiency across each stage if you operate an e-commerce firm. Order cycle time must be evaluated, nevertheless, to maximize the effectiveness of the order fulfilment process. Continue reading to learn about essential order statuses your clients will probably see throughout the order process. Pending The word pending in your order status indicates that you have begun checking out the products. However, the procedure is still not complete. Therefore, other apps may display an incomplete label in place of a pending label. There is no chance you will get the products if this is the case. Therefore, you must finish the checkout procedure to move on to the following step. Pending Payment You have finished the checkout procedure when your order status reads awaiting payment. The seller is still awaiting your money, though. Usually, the app or website will instantly reroute you to the payment page after you have checked out the products. You may use an e-wallet or a bank transfer to pay your bill. You often don't even know what the status of your orders is. This is because we frequently monitor the progress of our orders after placing and paying for them. Pending Fulfilment At this point, the eCommerce logistics partner approves the fulfilment request and starts selecting and packaging the items into the appropriate shipping boxes. The fulfilment procedure is still in progress, though. Many businesses also use the term "awaiting fulfilment" to refer to pending fulfilment. You could also see that the order's tracking information indicates that it is "on hold." It suggests that some details are needed or lacking for the order to be performed. This can be due to inadequate label information, imprecise packing preferences, missing customs information, etc. The order processing will restart after receiving the necessary information or data. Submitted For Fulfilment Orders are submitted for fulfilment once they have been paid for and approved by the online shop. A similar update verifies the transfer of the order information (invoice) from the eCommerce fulfilment centre to the logistics partner. However, as the goal is frequently to start the fulfilment process immediately, it could occasionally not appear on the tracking progress alerts. If your customers utilize the tracking number link to see this update, the payment has been acknowledged and validated, and the purchase is now en route to fulfilment. Awaiting Shipment Your order status will change to awaiting shipment once the retailer has coordinated with the logistics group. This indicates that the merchant is now waiting for the logistics department to pick up your goods. It may also imply that the logistics staff has already received your merchandise. Most likely, your item is still at the logistics centre, ready to be shipped. Ready for Pickup If the awaiting pickup status is displayed for your order, you can pick up your item at a seller-specified location. Unusual Order Status is available for pickup. Business owners who don't provide door-to-door delivery services benefit from this notice. Instead, they send all their local customers to a location where they may pick up the ordered items. Partially Shipped The Order Status "partially shipped" is another unusual one. This is because not all online shopping websites or applications are covered by it. This order status is only used by websites or programmes that provide a variety of online retailers. Don't anticipate receiving them all at once when many things are simultaneously ordered from various vendors using a single app since each item will originate from a separate area. Therefore, if you purchased five things online but only received three of them, your order status will say that it has been partly sent. Until all ordered products have been delivered, this will keep showing up and staying the same. Shipped It is a significant development in the order journey since it lets you know that the courier service has securely dispatched the order. It is often determined from this point, i.e., the ship date, the day the purchase is delivered, if an online shop has promised two-day delivery. Such an update often includes information on package tracking and is sent to the consumer through confirmation email or text. Updates like "in transit," "out for delivery," etc., can be anticipated moving forward. In general, all significant shipping providers, including FedEx, USPS, DHL, UPS, etc., offer projected delivery dates to the receiver so they may better schedule delivery. Delivered You have already gotten the things you bought online if your order status reads "Completed" or "Delivered." Instead of delivered, some retailers or logistics teams specify completed. This might imply that the buyer has already picked up the item from a place given by the vendor. The most common way to indicate that the things have already been delivered to the buyer's door is to use the Order Status "Delivered". In other words, door-to-door deliveries are more frequently described as delivered. Cancelled Orders might be cancelled for a variety of reasons. The use of a debit card with inadequate money serves as an illustration of this. The order status may initially be 'awaiting payment' in some circumstances. It will become cancelled if it is still unpaid after a predetermined number of hours or days. The transaction will also be cancelled if your ordered item is out of stock. The Order Status will thus show cancelled. It's also conceivable that you, the buyer, will decide to end the deal. You may always click or press the cancel option to cancel your order if you choose not to move further with it. Your order status will after that read balanced in such a situation. In most circumstances, a cancelled transaction doesn't result in a refund. This is because the merchant has not yet received any payments. Therefore, if a transaction was cancelled, but your money still went through, you must work with the merchant to resolve it. Declined Your order is listed as declined in the order status most likely signifies that your payment was unsuccessful. For example, your debit card or e-wallet may be underfunded. However, it's also conceivable that the issuing bank is not accessible. If your order status is declined, the app or website may not have accepted your credit card payment. Another possibility is that the system of the credit card company is down. However, it might also imply that the retailer is not a recognized credit card provider business associate. In such a scenario, you may try using a different credit card if you have any. For these transactions, the status often first reads "Declined" before switching to "Cancelled." However, some retailers no longer utilize the declined order status. Instead, they solely employ cancelled as an alternative. Partially Refunded When a retailer sends back a portion of a customer's payment, they may designate it as partly refunded in the order status. However, merchants do not frequently use this Order Status. Most of the time, businesses prefer to provide a single refund. Refunded When the order status is refunded, the seller successfully transfers your payment back to you. If among other things, you didn't receive the products you purchased or they were damaged, you would obtain a refund. Reasons Why The Order Might Be Awaiting Fulfilment You can anticipate this order status to reflect for a more extended period if a product is out of stock or if there are gaps in the order. The order status should change quickly, but if it hasn't changed in a while, a few potential causes might be keeping the order stuck at this point. Unable to Retrieve The Goods The failure to find the products specified in the purchase will result in an order awaiting fulfilment. It frequently occurs due to poor warehouse management, murky communication, etc. One of these explanations might explain why the order status is still listed as awaiting fulfilment. Planning inventory location is vital to prevent such unneeded delays. Inventory positioning refers to the location of your stock both physically and generally throughout the supply chain. When planning inventory positioning, there are several things to watch out for, from keeping heavy or big SKUs on lower racks to ensuring that high-volume goods are reachable. Inadequate Inventory Control When a brand is developing, poor inventory management can occasionally result in "out of stock," "back-ordered," and inappropriate storage circumstances. All of this may cause orders awaiting fulfilment for longer periods than anticipated. If your organization expands, you must put in place mechanisms to manage the rising workload and volume. Partnering with a 3PL professional with solutions for orders awaiting fulfilment and integrated inventory management system may be advantageous in such a situation. 5 Strategies To Streamline The Order Awaiting Fulfilment Process in 2024 While many online businesses might focus on the experience before purchasing, the post-order placement experience is crucial for recurring business. For example, after having a bad delivery experience, 72.7% of poll participants claimed they are inclined to stop shopping at an online store. Efficiency is the foundation of a fulfilment company's success. However, if efficiency improvements are not prioritized, order delays, low customer satisfaction, and client desertion might occur. Here are five tips to assist you in expediting and awaiting fulfilment while making your customers satisfied. Inventory Should Be Adjusted To Reflect Your Promotions The majority of commercial firms launch regular seasonal or product-specific promotions. Placing promotional products in an easily accessible location just before you begin your offer is one of the most acceptable methods to accelerate the process of awaiting fulfilment. For example, if you have mobile shelving or racks, you might move the promotional products' shelves near your picking team. Then, when your offer is over, you may return the promotional items to their original place and use the nearby spaces for your subsequent shipment of sale items. Organize Your Inventory Based On Speed Each eCommerce fulfilment business has some goods that sell more quickly than others. These products have a higher cycle speed than the usual product, which gives them the high-velocity name things. By putting these high-velocity products in a suitable spot, you may expedite the awaiting fulfilment. Following are some suggestions for categorizing high-velocity items: Make sure everything with a high rate of acceleration is accessible.Put high-volume goods on shelves that are close to the location where orders are prepared and sent.Save the top shelves and far-flung warehouse locations for your lowest velocity products. Utilize Pre-Assembly When Necessary Pre-assembly is a tactic that speeds up the process of getting orders ready for goods offered with a range of standard accessories. For example, a laptop comes with the usual accessory set, which consists of a carrying bag, and charger. Preassembling or putting the carrying case with devices before submitting the order will speed up order preparation. Consider Combining Things That Are Frequently Bought Together There are plenty of buying trends in the fulfilment sector. One significant trend is customers' propensity to buy two or three things at once. In certain situations, placing the two goods that are bought at the same time next to one another in your warehouse might speed up the process of fulfilling orders that are now pending. This tactic shortens the selection process and makes organizing easier. Improve Your Sorting Procedure The many product lines you sell and the type of your firm should determine how you should optimize your waiting time. Orders can be sorted in a variety of ways. Orders can be grouped in several ways, such as by zone, SKU, line item, or product line. One of the most common methods of order organization is by SKU. Companies that sell several product lines often utilize sorting by product line. How Can WareIQ Help You Improve Your Order Awaiting Fulfilment Running an online store has specific difficulties. WareIQ makes it unnecessary for logistics management to be one of them. As a result, many e-commerce businesses have teamed up with us to improve and expedite logistical procedures. WareIQ promises to use the most outstanding technology while providing you with best-in-class fulfilment solutions. You may anticipate improved order accuracy, a clearer picture of the inventory and shipments with SLA badges, and more control over customer and shipping information after you are onboarded. WareIQ offers a countrywide network of fulfilment centres that enable you to deliver your items to clients more quickly and economically. It makes sense for a company trying to expand to outsource logistics and fulfilment to a reputable 3PL professional like WareIQ. We at WareIQ can provide you with complete supply chain fulfilment solutions so you can concentrate on your company's main development drivers. [signup] Frequently Asked Questions Why does my order say awaiting fulfilment?It simply indicates that the logistics warehouse hasn't begun the order fulfilment process yet if you check the status of your purchase and it reads awaiting fulfilment. Picking the products for your order and putting them in a box for shipping are both parts of that procedure. How long does it take for awaiting fulfilment?Your order has been received and is being prepared for fulfilment when it says awaiting fulfilment.  In general, the fulfilment procedure takes up to 48–72 hours to complete. Once an order has been submitted for fulfilment, the logistics provider must receive and accept it. What distinguishes order processing from awaiting fulfilment?Once the buyer makes the purchase, the order goes through a number of phases. "Submitted for the fulfilment," "pending fulfilment," "awaiting shipping," "shipped," etc. are all used to describe it. These processes are all necessary components of order processing.One such step in the entire order process that happens after the order has been received is awaiting fulfilment. It is selected at this point, boxed appropriately, and prepared for transportation.

July 29, 2022
10 Tips to Prepare Your Fulfillment and Logistics Strategy for the Holiday Season in 2024

10 Tips to Prepare Your Fulfillment and Logistics Strategy for the Holiday Season in 2024

The holiday season marks a significant increase in the amount of demand and sales that eCommerce retailers can generate. Capturing interest from customers and ultimately converting that interest into a purchase is only a small part of the entire spectrum of fulfillment services in order to successfully complete the entire supply cycle of ensuring that the customer receives their order on the promised date and time. Performing these tasks accurately can become an even more challenging prospect due to the skyrocketing volume of orders that are brought about by the festive season. To ensure that all orders are delivered quickly and error-free to avoid dissatisfaction from customers, lost sales and RTO initiations, companies need to have an effective logistics strategy to tackle the ever-growing influx of orders. Read further as we discuss what logistics strategies are, the impact the holiday season can have on it, the importance of framing an effective logistics strategy and 10 tips to help retailers assemble one for the festive season. What is the Meaning of Logistics Strategy? Logistics generally encompasses all the processes that are involved in efficiently transporting an order from the manufacturer to the fulfillment center it will be stored in and ultimately to the end customer. A logistics strategy is the implementation of a predetermined set of rules and guidelines so that orders can be delivered smoothly and cost-effectively. Having a comprehensive logistics strategy is essential for eCommerce retailers to run their logistics processes smoothly so that the time taken to fulfill each order is reduced and errors or mistakes can be mitigated. This is especially vital during the holiday season as firms will have to fulfill a much larger number of orders compared to seasons of conventional demand. Not paying attention to adopting a logistical strategy can lead to firms not being able to fulfill orders at their full capacity and will also result in unhappy customers, negative feedback and lower sales volumes. [contactus_lilgoodness] Influence of the Holiday Season on Your Logistics Strategy Higher Demand Retailers often expect and anticipate higher demand and sales volumes than usual due to customers being more prepared to make purchases, either for themselves, family, and friends, and in many cases, all of the above. Thus, the onus is on eCommerce companies to develop their logistics strategies to cope with this higher demand so that they are able to fulfill every order that comes their way and are not put in the position of needing to turn away paying customers. Impatient Customers Due to customers being on a tight deadline in order to receive their orders in time for the holiday season, they are often more impatient than usual, which can result in increased agitation and frustration if they do not receive their orders on time. If an order doesn’t get delivered on time, their negative perceptions of the delay and ultimately the firm, maybe more pronounced due to their enhanced anticipation of receiving their goods in a timely manner and on the promised date. Retailers need to make sure that their logistics strategy is efficient so that every order can be delivered according to the ETA that is mentioned to customers. Extra Pressure on Manufacturers Increased demand on the part of retailers during the holiday season means that manufacturers also need to step up their game so that goods, especially the best-selling items, will be available to fulfill orders when they come in. Retailers need to take the initiative of having a logistics strategy in place at least 2 to 3 months before the festive season which includes communicating with their manufacturers on the expected inventory levels that are needed from them. This will help them take the necessary steps in advance and will avoid pushing out finished goods in a hurry at the last minute, which can lead to decreased levels of quality, higher costs, delayed production and other negative impacts. Added Workload on Every Department eCommerce retail, especially the logistics aspect of it, is not a one-man show. Instead, there are many different departments and external companies and manufacturers that have to come together as one, well-oiled unit. A company’s logistics strategy should clearly lay out the goals that are expected from each department and specify guidelines to streamline each process so that they can be performed efficiently. Importance of Framing an Effective Logistics Strategy for the Holiday Season in 2024 Reduced Travel Times When an eCommerce company has an effective logistics strategy in place, travel times get drastically cut as each process along the supply chain would be operating at its most efficient capacity. Firms can be prepared for unforeseen delays and other circumstances that could disrupt the delivery process so workarounds can be implemented.  Increased Sales Due to the increased demand during the holiday season and reduced travel timelines of each order, retailers that have framed a logistics strategy will be able to fulfill more orders in a shorter period of time, leading to more sales, higher revenue, and larger profit margins. If firms put themselves in a position to capitalize on the excess demand, the entire company will be benefited. Enhanced Customer Satisfaction If companies implement a sound logistics strategy, the entire process of delivering an order to the end customer will be streamlined, resulting in a favourable customer experience and in turn, positive feedback and reviews on their websites or other online forums. Customers generally value the feedback of other customers who have experienced the fulfillment process first-hand and will be more willing to purchase from that company. This allows the firm to generate more sales which will have positive results on the overall objectives of the business. Accounted Expenses By accounting for all the expenses and variables that take place in the logistical process, companies can budget themselves more efficiently which ultimately leads to reduced operational and logistical costs. If an accurate logistics strategy is planned, all the costs involved will be mentioned so that retailers can choose which costs are too high and it gives them the jeopardy to remove or streamline various processes. 10 Important Tips to Help Prepare Your Logistics Strategy for the Festive Season in India in 2024 Implement Accurate Demand Forecasting Demand forecasting is a key element that is needed to assemble an efficient logistics strategy. By analysing historical data of business performance during prior holiday seasons, businesses are able to ascertain which processes worked and which didn’t and can successfully determine demand levels in the current year, which allows them to store accurate amounts of inventory to avoid stockouts and wastage which will also reduce storage and ordering costs.  Prepare Inventory According to Demand After retailers have gauged the estimations of consumer demand for the current holiday season, inventory can be prepared accordingly. The best-selling and highest-demand products for that particular season can be stocked in high amounts while low-demand products can be stored in lower numbers. This helps businesses alleviate risks that stem from overordering and underordering and can also reduce costs associated with inventory management. This also makes the sorting and picking of products easier and faster to increase fulfillment speeds. Store Products Closer to Customers While many retailers who have limited resources don’t have access to fulfillment centers across the country, others, especially those that have partnered with 3PL fulfillment companies, can make use of nationwide networks of fulfillment centers and warehouses so they can choose where they want to store certain products according to their demand. These products can be stored in close proximity to the customers that are purchasing the most in order to reduce travel distance and time to those customers. Note Important Deadlines Important deadlines pertaining to the logistics strategy should be noted by retailers so that they can be reminded to make the necessary arrangements for those deadlines. Important events in the logistical process for the holiday season include picking, packing and shipping customer orders, reordering inventory to avoid stockouts, adding and removing discounts depending on the length of various promotions and receiving orders from manufacturers, among many others. Planning in advance is imperative for the success of the logistics strategy. Pay Attention to Returns Management A big factor in the logistics process, especially during the festive season is returns management, also known as reverse logistics. eCommerce companies need to include provisions for returns management in their logistics strategy because customers are extremely choosy these days and if a small aspect of their purchase experience isn’t as per their preference, there will be a risk of them initiating an RTO. Because of the increased demand of the holiday season, there are bound to be increased returns as well which retailers need to account for so that they can maintain customer satisfaction while also preventing costs from skyrocketing. Partner With a 3PL 3PL companies can be a very useful tool for most retailers to frame their logistics strategy, especially during the holiday season and especially for small and mid-sized businesses that don’t have access to their own resources and technology. These companies come armed with a host of advanced facilities and technology that will enable eCommerce sellers to enhance the experience they are able to deliver to their customers, while also obtaining a competitive edge in certain areas such as providing same-day delivery, assessing their inventory data through a WMS and much more. Use Custom Packaging By Using custom packaging, orders can be packed into containers that are made precisely for them instead of trying to fit them in generic containers that can either be too loose so that they can wobble around and receive damage or too tight so that they constantly rub against the container and can warrant concern from customers when they open it. Custom packaging not only enhances the brand's image but also ensures that the product is secure during transit until it is delivered to the customer, which can increase satisfaction and delivery speed and reduce the rate of returns. Provide Ultra-Fast Delivery Ultra-fast delivery is a must for retailers that want to compete in an ever-expanding eCommerce space. It is perceived more as a right than a privilege by consumers so sellers that don’t offer it are constantly subject to cart abandonments and negative feedback. By including ultra-fast delivery in their logistics strategy, firms not only provide a positive fulfillment experience to their customers but can also fulfill more orders in a shorter period of time thanks to the reduced delivery time of each order. Offer Premium Customer Support Logistics is important for delivering orders to customers but is also the phase where many things can go wrong such as delays, breakages and theft. Therefore, an efficient logistics strategy necessitates the provision of premium customer support and order tracking facilities so that customers will always be informed about the whereabouts of their order and can inquire and get answers seamlessly and quickly so that they can be reassured.  Create a Budget By creating a budget while planning their logistics strategy, retailers can discern what processes are essential and where they can cut down costs. Budgeting is crucial, especially during the holiday season when costs can easily increase without much knowledge. Having a budget in place means that every process will have a cap on how much is allotted to it so if there is a risk of any operation going over budget, a call can be taken as to how to reduce it. Conclusion: Take Advantage of WareIQ’s Fulfillment and Logistics Services Logistics is extremely important as it is the means by which eCommerce business are able to order, deliver and transport goods from one location to another until it is finally delivered to the customer. For this reason, it is essential that firms come up with an effective logistics strategy as per their business objectives and requirements. It greatly helps in speeding up and streamlining processes and reducing costs. If you are an eCommerce retailer and need assistance with the logistical aspect of your business or any other eCommerce-related service, you can consider employing WareIQ’s offerings. WareIQ is a rapidly-growing eCommerce company that is based in India and provides solutions for all things eCommerce. We make use of an advanced technology platform to provide a seamless experience to our users and their customers. By offering unique features such as a custom WMS that can provide real-time inventory updates across multiple fulfillment centers and 20 plus eCommerce marketplaces, an app store that has a catalogue of multiple apps to increase productivity in different areas, an RTO shield that provides insurance and protects retailers from returns-related costs, a pan-India network of fulfillment centers and dark stores with intelligent inventory placement to store your products closer to your customers and a partnership with more than 12 of the largest shipping companies in the country to assign the fastest and most economical option for every order, WareIQ can help you frame and implement your logistics strategy as per your goals and requirements. Fulfillment and Logistics Strategy: FAQs What is the role of logistics in eCommerce retail?Logistics involves various processes such as transporting goods between locations and delivering orders to customers. Why does demand increase during the holiday season?Demand increases during the holiday season because people have more free time and make an effort to celebrate with their families and use it as an opportunity to take advantage of offers and discounts to buy gifts for themselves, family and friends. Why do firms need to have a logistics strategy for the festive season?Businesses need to have a logistics strategy for the festive season to curtail the increased demand and ensure that they are able to fulfill every order efficiently so that they don’t lose out on business opportunities. What are the different types of eCommerce logistics?There are 4 different types of eCommerce logistics and they are listed below:- Supply logistics- Distribution logistics- Production logistics- Reverse logistics How can a 3PL company like WareIQ help to provide logistics services?WareIQ offers multiple eCommerce fulfillment services including every logistics procedure from production to returns management.

July 28, 2022
WareIQ | Up to Speed | Latest Product Updates & News | Newsletter Issue #2

WareIQ | Up to Speed | Latest Product Updates & News | Newsletter Issue #2

We are back with another issue of Up to Speed. Catch all the latest product updates and feature releases here! New Releases & Latest Updates WareIQ Shipping Badges now available on Shopify App Store Now you can install WareIQ Shipping badges directly from the Shopify Appstore in just a few clicks! WareIQ provides a variety of shipping badges available to display fast shipping timelines and boost online conversions. Actionable business insights at your fingertips Deeper, more direct analytical insights are now readily available for inventory planning, network design & shipping operations. Get quick updates on critical metrics such as RTO, state-wise shipping, Out-of-stock/Under-stock inventory, SKU segmentation, warehouse placement, etc. Get quick RTO details to fasten inventory refurbishment Get the exact details behind your RTO orders and make inventory refurbishment hassle-free and quick. Avoid missing out on any incoming orders with this newest update. New Blue Dart & Shadowfax reverse-leg integrations Increase the footprint by servicing a larger set of pin codes for reverse pickups with our new Blue Dart and Shadowfax reverse-leg logistics, now integrated with our shipping engine. WareIQ Merchant Platform Features to Optimize Performance Know what your customers think about your brand with WareIQ Customer Feedback App With our Customer Feedback app, brands can analyze their brand image, monitor feedback & respond to escalations in real-time, and get access to a 360-degree customer dashboard. Visit WareIQ App Store to know more Leverage our shipping labels to boost brand awareness & recognition With our shipping labels, put your brand into the spotlight, and improve your brand awareness and recognition levels. WareIQ Up to Speed Up to Speed is WareIQ’s monthly product newsletter, encompassing all product releases, updates and feature launches. Subscribe to the newsletter to get stay ‘up to speed’ with the latest happenings and offerings from WareIQ. You can also subscribe to the same on our LinkedIn handle: WareIQ Up to Speed

July 28, 2022
10 Best Strategies to Gain More Days of Sales in eCommerce Beyond the Festive Season Like Independence Day Sales in India in 2024

10 Best Strategies to Gain More Days of Sales in eCommerce Beyond the Festive Season Like Independence Day Sales in India in 2024

Holidays are a special time for multiple reasons including the fact that they generally mean that people can take a break from their usual routine and take some time off to spend it with family, go on vacation, take a breather from work and many other fun activities. Depending on the significance and reason for the holiday in question, celebrations can vary from person to person. However, one holiday that has the capability of uniting the entire country is Independence Day. Every year, streets, buildings and vehicles are adorned with the Indian flag which is regarded as an expression of freedom and the beginning of prosperity for this relatively young, burgeoning republic that has grown to become one of the largest economies in the world. India thrives in multiple different industries but the growth of eCommerce has been unprecedented due to more people gaining access to the internet every day and discovering its simplicity and convenience of it. Thus, it also marks a profitable time for retailers to get more demand and gain more days of sales beyond the festive season. However, it is also imperative for them to maintain this traction post-independence day so that they can carry this newfound momentum to the next holiday season in India. In this blog, we will take a detailed look at why demand increases during independence day, the importance of maintaining the sales output post-independence day, 10 strategies to gain more days of sales beyond the festive season and how WareIQ can assist.  Why Does Demand Surge During Holidays Such as Independence Day? Strong Shift Towards eCommerce Shopping Due to the large number of people who gain access to the internet and discover the convenience of online shipping in addition to the vast number of existing eCommerce customers, the online shopping industry is experiencing rapid growth. This stems from the realization of customers that they do not need to waste time and money travelling to a destination, standing in a long queue and waiting to get their items billed. Instead, they can just browse through a vast catalogue of products that is available from every retailer and company, at their own convenience. This, mixed with the natural spikes in demand during independence day celebrations, has benefited eCommerce businesses immensely. People Wanting to Celebrate Independence Day, along with every other major festival in the country, is a time of celebration where most people spend money more lavishly than on a general basis since they have a reason to. Whether it is shopping for sweets, new clothes, new electronic items or any other product that they might need, customers are bound to be more liberal with their money as these are the occasions that they look forward to and are willing to spend more to make the most of the occasion. Customers Have More Free Time Due to Independence Day being a public holiday in the entire country, most customers would have the day off work and can use this extra time to search for products that they might want and need. On a general basis, people may not have time to browse through heaps of different product pages due to other responsibilities and commitments that they have to fulfill. However, holidays like Independence day are the perfect opportunities to relax and spend the day spoiling themselves and their loved ones. Large Amount of Offers and Discounts Flipkart Independence Day Offers In order to gain more sales during Independence Day, retailers often try to grasp the attention of customers through various offers, promotions and discounts. Customers are aware of this and often hold off on buying new products throughout the year so that they can take advantage of these reduced prices. On the other side of the coin, retailers are also aware that they can capitalize on the increased sales that are up for grabs so they also make an effort to entice customers to choose their brand by trying to undercut or offer better deals than their competitors. A few of the companies that consistently offer Independence Day sales include eCommerce marketplaces like Flipkart, Myntra and Amazon, retail companies such as Nike, Adidas, Croma and many others, and food delivery platforms like Swiggy and Zomato. These discounts can range from 10% up to even 70% in some cases. Users can access these offers by visiting the relevant website and choosing products that meet the criteria of the sale. Amazon Independence Day Offers [contactus_lilgoodness] Why is it Important to Gain More Sales Post Festive Season Sales like Independence Day Sales in 2024? Getting Rid of Leftover Inventory Companies often sell specialised inventory to cater to the specific requirements of customers during every festive season, including Independence Day. These items can become obsolete post-Independence Day and can risk getting expired, which would be a major loss for companies to risk incurring. To mitigate this risk, it is in the best interest of eCommerce retailers to sell as many units of such products as possible. Maintaining Sales Velocity Till the Next Holiday Season Festive seasons are generally the most profitable times of the year for eCommerce retailers due to the spike in demand and the increased sales that can be generated as a result. It is important for businesses to attempt to maintain this sales velocity post-Independence Day till the next festive season so that they can sell as many products as possible and not have a lull in demand for their commodities, which can be quite hard to recover from. Capitalizing on the Runoff Demand There will always be customers who are in a celebratory mood even post-Independence day or who still have to buy more gifts for themselves, family or friends. Enterprising retailers who save enough stock to cater to the requirements of these customers will benefit compared to their competitors as this will give them a temporary monopoly on the market for Independence Day-related products. Customers who still want to shop will flock to these retailers as there won’t be much supply elsewhere. Increasing Revenue and Profit Margins Increased sales almost always translate to higher revenue and profit margins for eCommerce sellers. The ultimate goal of most retailers is to generate sales and make money and what better way to achieve this than to take advantage of already existing demand. Maintaining sales volumes or at least not letting them dip to conventional levels will enable them to be more successful till the next festive season so that they can survive a stagnation in sales in the interim. Top 10 Strategies to Gain More Days of Sales Beyond the Festive Season Sales Like Independence Day Sales in India Track and Analyse Historical Data Accurately analysing the data of prior post-Independence Day periods during previous years can provide insights into which strategies were successful and which weren’t and can also be a good indicator to identify which products would be best suited to generate sales in the current season. Past data is invaluable when it comes to framing and analysing strategies to generate increased sales. Similarly, this also helps retailers gauge the estimations of how much they wish to sell this year and the amount of inventory to keep in stock. Allow Backorders Even with the most accurate forecasting and inventory preparation for sales, there is always a risk of popular commodities running out of stock, especially in a country like India where customers want to ensure that they have all the necessary festivities in order. By allowing customers to backorder the items they need, retailers can ensure that they still make the sale and don’t lose customers to their competitors. The delivery date can also be adjusted accordingly. This can help retailers serve customers in the post-Independence Day timespan. Run Promotional Campaigns Running an adequate number of promotional campaigns in order to spark interest in a brand and its products is vital, especially post-Independence Day when competition would still be fierce. By advertising their products and their use cases for the relevant festival or holiday that is approaching, retailers can generate the amount of visibility needed for their products and can simultaneously determine how much inventory they would need to store, based on the response and results of the campaigns. Additionally, less-demanded products could be discounted or offered in bundles to boost their sales and logistics strategies like providing free shipping if the order cart is worth a certain amount can also be implemented. Fabricate a Budget for the Season By creating a budget for the specific festive season such as to gain more sales post-Independence Day, inventory preparation can be done more cost-effectively and efficiently. This will also help retailers determine their costs by assigning a value to each procedure such as marketing, manufacturing and delivering, and will help them understand their profit margins once all these expenses have been deducted. It will also prevent the unnecessary ordering of inventory and will keep product levels at the optimum amount that is needed. Communicate With the Suppliers Independence Day generally brings increased sales and impatient customers so it pays dividends for retailers to speak to their suppliers in advance and fill them in on the estimated production levels required from them to avoid any confusion and finger-pointing further down the line. Suppliers may need to up their production ante to keep up with the higher demand and faster fulfillment times needed by adapting their manufacturing processes. Place Inventory Orders in Advance By ordering inventory in advance, less pressure is placed on manufacturers to cope abruptly with the increased sales that are brought post-Independence Day. This will also mitigate the number of errors and mistakes that could occur if vendors had to rush to fulfill their order quota in time, which could ultimately lead to dissatisfied customers and RTO initiations.  Highlight Important Dates It is not only important to mark important holidays and festivals on your calendar but also the start of promotional campaigns, order placement dates and other important information that has an impact on inventory preparation post-Independence Day. By staying organised, retailers can always be one step ahead of any unforeseen issue that could suddenly arise. It will also help them to plan their strategies effectively and have everything in place by the time demand starts to surge. Have Consistent Inventory Counts The post-Independence Day season can be extremely stressful for all parties involved which also increases the risk of misplacement of items, accidental counts and other mistakes. Consistently counting inventory at regular intervals will mitigate the dangers of inventory level discrepancies by preventing stockouts and always having access to a register of accurate inventory counts. This will help streamline inventory management and the order fulfillment process. Provide Ultra-Fast Shipping To keep up with the rate of demand and the number of orders coming in on a daily basis, it would be fruitful for retailers to provide same-day and next-day shipping, not only to increase customer satisfaction but also to be able to fulfill a larger number of orders. This prevents any backlog from occurring and ensures that every order is shipped on time so that new orders can be prioritised. Many 3PL companies provide these delivery services so it is beneficial for retailers to take advantage of them. Use Inventory Management Software The key to efficient and error-free inventory preparation for Independence Day demand is utilising advanced inventory management software. These software solutions like the option provided by WareIQ, provide multiple benefits including real-time updates of inventory levels across multiple fulfillment centers, and automated replenishment triggers, and can integrate with multiple eCommerce selling platforms. This helps in speeding up multiple processes and also reduces the rate of manual errors. Conclusion: How WareIQ can Help You Gain More Days of Online Sales Beyond Independence Day Sales? It is tantamount for retailers to not only take advantage of the skyrocketing demand brought by Independence Day but also to maintain their success and continue to gain more sales post-Independence Day. It can be easy for retailers to get complacent if they have had positive results during the season but they need to learn that eCommerce retail is a marathon, not a sprint, and staying ahead of the curb at every opportunity is the key to success. If you are an eCommerce retailer and need help with maintaining increased sales volumes post-independence day or any other eCommerce-related requirements, you can consider partnering with WareIQ for the year 2024. WareIQ is one of the leading eCommerce fulfillment providers in India and offers a wide variety of eCommerce solutions for every requirement or issue that arises. In addition to advanced features such as a custom WMS that can track inventory in real-time across multiple fulfillment centers and eCommerce marketplaces, an app store with a well-designed UI that has multiple apps to enhance productivity and an RTO shield that will provide insurance in case of returns initiations, we also offer conventional fulfillment services such as a nationwide network of fulfillment centers and dark stores, partnerships with more than 20 of the biggest shipping aggregators in the country to always offer the quickest and most cost-effective delivery, inventory management including intelligent inventory placement in warehouses closer to your customers and much more. Gain More Days of Sales Beyond the Festive Season: FAQs What are some of the other important festive seasons in India?There are multiple festive seasons in India but the ones that have the most demand include Diwali, Dussehra, Christmas, Holi and much more. How can retailers tackle the increased sales volume that is brought about by Independence Day?Retailers can opt to partner with a 3PL company like WareIQ that has multiple resources and uses advanced technology to provide an enhanced experience to retailers and their customers. Why is it important for sellers to take advantage of festive seasons like Independence Day?The ultimate goal of eCommerce retailers is to sell their products and make money. Therefore, they should capitalize on the increased demand that customers have during festive seasons. Do retailers need to sell specialised Independence Day products?It is not entirely necessary to do so. However, it would be beneficial to promote existing products, run ads and release new products to take advantage of the already existing demand. Why is it necessary for sellers to partner with 3PL companies like WareIQ?Often, sellers may have ambitious plans but do not have access to the technology and resources that are involved in implementing them. With WareIQ, you have exposure to multiple services and experts that can tackle any requirement.

July 27, 2022
An Ultimate Guide To Monitor Supply Chain Metrics & KPIs And Effective Ways On How To Improve Supply Chain Performance in 2024

An Ultimate Guide To Monitor Supply Chain Metrics & KPIs And Effective Ways On How To Improve Supply Chain Performance in 2024

The supply chain, an ever-evolving ecosystem that ensures that goods or services are delivered from a supplier to a client or consumer smoothly, efficiently, and consistently, is the foundation of any contemporary organization. Your business will struggle to expand if your supply chain is disorganized, unfocused, or inefficient. Because of this, it's crucial to carefully track and improve the essential supply chain metrics and key performance indicators(KPIs). You may establish reliable standards for a variety of crucial procedures and actions with the aid of supply chain metrics. Additionally, by utilizing the appropriate KPIs, you may increase the productivity, intelligence, and eventually profitability of your company. In this article, we will cover essential supply chain performance metrics that you should track for improved logistics processes also how to improve supply chain performance while maximizing the value of your business. But first, let's start with the basic definition. What are Supply Chain Metrics? Supply chain metrics are developed by creating specified characteristics to quantify and characterize supply chain performance. For example, the measurements may be applied to the inventory-to-sales ratio, inventory accuracy, and turnover measures. Supply chain metrics are essential resources at your disposal for ensuring the ongoing expansion, evolution, success, and growth of your company's supply, fulfilment, and delivery activities. You will be able to identify inefficiencies within your ecosystem, capitalize on your present strengths, and set goals that will help your supply chain expand with the success of your business by gathering, curating, and analyzing critical supply chain metrics. What Should You be Looking for in Supply Chain KPIs? Even though there are many distinct metrics you may monitor and measure, you'll often be focusing on one of three things: Time Measuring how long something takes or the efficiency of a process in a time context is simple. For example, you may track lead times, the proportion of on-time deliveries, or the typical time it takes your accounts payable personnel to fulfil a purchase order. Quality The definition of quality can vary. But once you've established a baseline, it's simple to gauge. For instance, you may track your return rate, customer satisfaction levels, or the frequency with which customers report receiving defective items. ‍Cost For most of us, measuring things in terms of price is typical. But in a supply chain setting, financial supply chain KPIs go beyond the price of the products your procurement team is sourcing. For example, you may track your cash flow, expenditures associated with your inventory levels, cost of products sold to excess inventory on hand, and many other things. How to Define Effective Supply Chain KPIs? A decent performance metric is to improve your supply chain performance. Therefore, all of your KPIs should be: Simple To Comprehend Your manager and the procurement team should be able to grasp your measurement goals and the data's implications. Quantitative Measuring something has little value if you can't quantify it with a number or another metric. Metrics That Matters To You What significant metrics can you utilize to enhance your supply chain? Try to resist being sucked into data analysis just for the sake of it. Instead, analyze and focus on metrics important for your business from the growth point of view. Directive To Improve Supply Chain Performance The best KPIs clarify what action you need to take, which is a directive toward optimal practice. However, it would help if you ensured that improving one area doesn't harm another. For instance, you could desire to shorten lead times, but could this affect the accuracy of your deliveries or the calibre of your goods? Ensure that your goal metrics are interconnected so you can constantly see the effects of your activities. Convenient To Collect Simple metrics are the best ones to gather since they are the easiest. And it's much better if you can see things in real-time using a computerized dashboard or other comparable software. Obtain Clear Understandings of Your Objectives   Establish your goals before selecting your metrics. What particular results do you want to get from monitoring your supply chain KPIs?‍ Say you want to, for instance, Optimize supply chain systems Boost your client satisfactionReduce delivery times Maximize productivity throughout your supply chain.Decrease unsatisfactory orders to boost revenue growth‍ You choose what to concentrate on to determine the relevant KPIs to measure; to achieve these, you must first put together a number of headline targets.‍ Also, remember that you may select goals and metrics that concentrate on the efficiency of your whole supply chain or a particular node. [contactus_lilgoodness] Why are Supply Chain Performance Metrics Important? For various reasons, your business's essential fulfilment and logistics strategy must consider supply chain metrics. First, studies predict that the supply chain analytics market will grow to $16.82 billion by 2027. This is because using analytics to supply chain decision-making enables organizations to boost their tactical, strategic, and operational effectiveness. The key advantages of tracking supply chain metrics for improving management are listed below: Enhanced Communications Communication is essential to a successful supply chain. Every gear in the supply chain machine will become smoother, more efficient, and more dependable if everyone participating in the process has a greater awareness of their position and access to the metrics needed to optimize their potential. Supply chain metrics offer uniform access to essential data. This type will enhance coordination, foster teamwork, and guarantee that your inventory is efficiently handled as each item successfully makes its way from your warehouse to the intended recipient. Targeted Data & Supply Chain Insights  Fulfilment procedures may become unnecessarily complex in the information age since many sources, platforms, and touchpoints exist. When you are in charge of busy supply chains, sorting through a never-ending mountain of data soon becomes a battle. However, supply chain KPIs will enable you to narrow your attention to the data that matters. Supply chain-based analytics present what matters in an easily consumable visual style from a single central place. Working with supply chain metrics will not only help you run your logistical operations more effectively but will also allow you to spot hidden trends that will significantly enhance your business or identify any looming problems (gaps in inventory, a lack of inventory, bottlenecks in your delivery processes, etc.) before they become serious problems. Adaptability & Responsiveness Supply chain metrics are essential since they will provide you with all the information you need to be flexible and adaptive constantly. Supply chain management requires complete adaptation in any circumstance. Therefore, you need to be able to correct problems right away. Keep an eye on supply chain metrics to ensure your supply chain is strong as customer needs and the business landscape change. This will help you stand out from the competition. In addition, with the help of target data visualizations you can quickly and confidently assess, supply chain-focused metrics will offer you the knowledge and confidence to make meaningful strategic adjustments to your operations, depending on your environment. You can optimize your supply chain for sustained performance in a cutthroat commercial environment by developing estimates that provide value and making wise decisions under pressure. As a result, your development and profitability will be maximized. 18 Supply Chain Performance Metrics You Should Be Monitoring in 2024 For your firm to thrive in the cutthroat business world of today and boost sales, you need an efficient supply chain. A Deloitte survey found that 79% of businesses with high-performing supply chains have higher revenue growth than the industry average. Monitoring your supply chain metrics (or KPIs), a set of indicators used in quantifying and characterizing the performance of your supply chain, is one technique to assess whether your supply chain performance is sufficient. The following list of 10 essential performance indicators will help you manage your supply chain more effectively in 2024. Delivery Time Delivery time is a key performance indicator (KPI) for supply chains that focuses on enhancing customer service. It calculates how long it takes from when an item is dispatched to when it is delivered to the customer's door. First, the order must be accurately created and returned to its destination at an acceptable time. If not, your clients may negatively view you because nobody likes to wait to receive their supplied items. It makes sense to lower this supply chain management KPI and improve the accuracy of the delivery information provided to customers. For example, saying that the delivery will arrive in 2-3 business days is preferable to 5-8 business days. Additionally, it would be much better for your service if you could indicate the time. You may also provide customized delivery services to speed up delivery and assess how this affects customer satisfaction over time. Even better, track it more carefully by including supply delivery indicators in your supply chain-focused performance dashboard. Cash to Cash Time Cycle  This invaluable supply chain metric will enable you to determine how long it will take to convert your resources into actual cash flows. The cash-to-cash time cycle uses three key ratios: days of inventory (DOI), days of payables (DOP), and days of receivables (DOR). KPI depicts the time needed between when a company pays its suppliers and when it gets cash from its clients. The shorter the conversion cycle, the better, and this invaluable supply chain data can help you decide how to run your business with less money dedicated to operations. Inventory Movement The number of times a company's whole inventory has been sold over a specific time period is one of the most beneficial supply chain KPIs accessible today. This is an excellent sign of effective production planning, process strategy, fulfilment skills, and marketing and sales management. You can develop a straightforward management reporting practice, understand where you stand, and take the necessary action to improve it over time by calculating your on-time shipping rate and comparing it to other companies in your industry. This will result in an increased bottom line as well as a boost to your brand authority. Gross Margin Return On Investment (GMROI) Even though GMROI is one of the most crucial metrics you can utilize in your shop, it may be a little scary. It reveals how hard your inventory is working to generate revenues for you. A crucial statistic for safeguarding your cash flow is GMROI. Many shops safeguard their margins, which is crucial, but keep in mind that you can survive without earnings for a time. Without financial flow, you cannot survive. Although some of your merchandise turns slowly, it generates excellent profits. Some businesses will flip swiftly but with minimal profitability. These two scenarios will result in decent to high GMROI. A product's low GMROI indicates whether it moves too slowly, has inadequate margin, or both. Fortunately, you can evaluate product performance using the GMROI calculation. Absolute Order Rate This specific information is one of the most crucial supply chain KPIs for companies across various industries. The capacity to fulfil orders without incident is measured by your perfect order rate, which will eventually assist you in resolving problems like errors, damages, delays, and inventory losses. The ideal order rate is a KPI that should be increased as it directly affects your customer loyalty and retention rates. Day's Sales Outstanding (DSO) The day's outstanding sales KPI gauges how quickly you can collect money from consumers or make money. A low or healthy DSO figure indicates that a company collects its accounts receivable in fewer days. A greater DSO level means a business sells its goods to clients on credit and takes longer to get paid, which can impede cash flow and reduce overall earnings. Calculating this often will enable you to collect income more quickly and effectively, ultimately helping to increase your bottom line. Cycle Time for the Supply Chain The time it would take to complete a customer's order if all inventory levels were zero when the order was made is measured by the supply chain cycle time, a comprehensive statistic. The total of the longest lag times for each phase of the supply chain cycle makes up this measure. This statistic is an excellent gauge of how well your supply chain works. A shorter cycle indicates greater adaptability, agility, and responsiveness to external changes in the process. In addition, supply chain cycle time tracking reveals current or anticipated issues, allowing your company to take appropriate action. Customer Order Cycle Time The period of time between when a client puts order and when they get it is known as the customer order cycle time. A short wait time excites clients and shows that your supply chain is highly effective; thus, your company should strive to maintain the customer order cycle time as low as feasible. Customer order cycle time may be significantly decreased by automatically sending each order to the fulfilment facility closest to its final destination. Shortening the cycle could also be achieved by accelerating backend processes, simplifying SOPs for warehouse management and reviewing shipping carrier performance. Fill Rate The percentage of client demand satisfied through stock availability, without backorders or missed sales, is known as the fill rate or demand satisfaction rate. Understanding your fill rate is crucial because it indicates the sales that, with improved inventory efficiency, you may provide better service. Access to inventory data is one way to improve. You and your sales staff will be better equipped to ship accurate, complete, and on-time orders, increasing customer satisfaction along the way, the better informed you are about the inventory that is now available. According to research, strengthening the bond between a store and a supplier may increase fill rates by 80%. Enhancing reactions to demand spikes, speeding up price-change discussions, simplifying order management procedures, and altering motivations for sales. Warehousing Costs The cost of storage is the next element on our list of supply chain metrics. Building a solid supply chain requires careful cost distribution and managing your inventory's time and space. Even if these prices vary from warehouse to warehouse, it's crucial to track this indication and examine it frequently to spot possibilities and cut unnecessary expenses. Managing the warehouse facility involves paying for various expenses, including personnel, warehouse rent, electricity, equipment, material, information processing system, and procuring and keeping the items. Being well-informed about all the operations at the warehouse facility and how precisely it runs is the first step in keeping costs as low as possible. In this manner, you will have a more significant opportunity to cut back on needless expenses, implement measures to manage operations more effectively and make required adjustments. Additionally, you will be able to depend on your reports and make quicker, more accurate business decisions if you regularly gather your information with a professional online reporting tool. Cost of Shipping per Unit Freight cost per unit is evidence that metrics in supply chain management are essential for achieving long-term gains. Freight cost per unit, one of the most crucial supply chain KPIs for any expanding organization, will provide you with a clear understanding of how cheaply you can send your goods. This specific feature to the supply chain metrics dashboard will calculate your total freight expenses and split them by the number of products transported. This measure can be computed using any suitable unit for your company. However, any drawn-out or ill-thought-out procedures will cost you time, money, and client loyalty. This KPI will assist you in avoiding such challenges. Average delivery Time The number of days from the moment an item is dispatched out of your fulfilment centre and the time it reaches a customer's doorstep is known as the average delivery time. This is a crucial indicator to monitor since it reveals the shipment speed of a company. Online buyers increasingly demand a speedy turnaround time on their goods due to the growth of 2-day delivery. Although expedited shipping reduces the time between orders, it might be too expensive for smaller firms to rely on over the long run. As a result, many e-commerce companies decide to cut the average delivery time by carefully positioning some of their inventory near the final consumers. Cycle Time For Pick and Pack By breaking down your supply chain cycle into individual lines, this supply chain performance assessment will provide you with a precise indication of how effective (or ineffective) the overall supply chain cycle is. For example, the duration between when an employee takes an item from the shelf and when the picking and packaging procedure is finished is measured by each KPI. It will be obvious where delays or vulnerabilities exist in your supply chain once you've established your goals and begun monitoring the progress of your supply chain cycle. Consequently, you may take focused action to stop these problems in their tracks, reducing your total cycle durations. Ratio Of Inventory To Sales Since inventory is one of the most crucial tools in your supply chain, the inventory to sales ratio is one of the essential supply chain metrics that must be monitored. This statistic calculates a balance between the amount of merchandise available for sale and the actual amount sold. It will also let you know how successful your business handles unforeseen circumstances and assist you in adjusting your goods to achieve high margins. Here, the key idea is that maintaining a healthy ratio requires understanding how to balance it correctly. Since it could affect your inventory turnover rates, limiting the proportion from being too high would make sense. Finding the right balance in this situation is crucial. You may create an interactive inventory KPI with a contemporary dashboard builder, which will refresh the data automatically and allow you to track performance in real-time. Additionally, you can modify your future initiatives and guarantee that the ratio is ideal for your particular firm. Inventory Velocity Inventory velocity is among the most crucial supply chain KPIs that visually represents the proportion of inventory anticipated for consumption over the following month or quarter. Inventory Velocity is a supply chain metric that will assist you in optimizing your inventory levels, increase your likelihood of satisfying customer demand, and save you from losing money on overstock levels of stock. It is computed by subtracting the opening stock from the anticipated sales for the next period. Return Ground The return reason supply chain metrics provide a keen understanding of the numerous factors that influence your consumers and clients to return their products, which is vital knowledge for an eCommerce fulfilment company's continued success. You will be able to assess your areas of weakness, evaluate the quality of crucial supply chain process areas, and make the kinds of improvements that will significantly improve not only your reputation but also your overall level of service thanks to the information being presented in an easily digestible pie chart-style format with a key showcasing the main reasons for return. Furthermore, you have a significant probability of lowering returns, increasing profits, and enhancing cash flow due to attaining this degree of information. Supply Chain Costs One of the key performance indicators for the supply chain is cost, which displays pertinent expenses related to supply chain management. These expenses, which reflect how various productive departments of the business are, might include those for planning, managing teams, sourcing, delivering, etc. Of course, any firm must find ways to boost profits, and cutting expenses is one tactic that is frequently used. In this method, the business may determine if there is room for progress without also needing to boost sales.  However, it's crucial to consider how the cost decrease would affect the whole supply chain. Supply Chain Costs vs Sales Additional cost analysis related to sales is included in our list of KPIs and indicators for the supply chain. Essentially, this indicator will show you how much you are spending in relation to your overall spending by calculating your supply chain expenses as a percentage of sales. These supply chain management indicators will enable you to conduct a thorough expenditure analysis and set up procedures for possible cost reductions. Of course, cost reduction is a critical component of supply chain optimization. Still, as we've already discussed, it's crucial to make cost reductions where they make sense rather than just doing it to lower the numbers. The explanation is straightforward: the entire procedure is useless if you reduce costs only to see them rise in another area of your supply chain. 4 Effective Ways To Improve Supply Chain Performance Understanding how to improve supply chain performance has become essential for ensuring the effectiveness of diverse operations in today's fast-paced organizations and industries. Since businesses and industries need a lot of raw materials and supplies to make a wide range of goods, it is crucial to maintain a stable supply chain to keep everything going smoothly. Maximal profitability and faster processing and production times are guaranteed by tracking the most efficient supply chain metrics. In addition, you would be able to identify the ideal ways to raise the effectiveness of your operations while discovering fresh approaches to innovation and creating new tactics and procedures for future advancement. In the context of this, here is the following practical advice that will help to improve supply chain performance. Keep Track Of All Your Supplies An essential component of supply chain management is inventory management, which enables you to keep track of all the materials entering your business or sector. This is crucial, especially when controlling all the required materials' supply costs, delivery dates, and logistical needs. Since most inventory management systems today are not fully automated, there is an opportunity for a more elaborate and thorough approach that would allow you to keep track of everything and give customers additional details about the products you have on hand. You can guarantee that everything will be handled correctly and on schedule by creating a system that maintains track of all your supplies. Utilize Automated Systems Automation is currently used in procedures like inventory management to increase overall efficiency; therefore, applying this technology to other processes may also be quite advantageous. Automation has emerged as one of the best options for many firms and sectors. Offering the essential equipments for quick production may expedite procedures and activities. In addition, utilizing automated digital platforms for supply chain management can increase productivity and let you create fresh approaches and solutions. Automation has been used in many organizations to simplify the work completed, eliminating the need for repetitive chores and allowing more staff to concentrate on doing more essential tasks. Expand and Improve Distribution Network Growing your distribution networks may also enhance your supply chain performance efficiency. Partnerships with suppliers and distributors have considerably helped supply chain and logistics organizations, offering improved delivery procedures and additional transportation possibilities. Optimizing your supply chain networks is also crucial; it enhances employee teamwork and communication, monitors automated systems, and ensures that everything runs according to schedule. In addition, solutions would be helpful in the long run because your distribution network is essential for developing a successful supply chain management system. You can read more on how to keep track of distribution metrics for eCommerce growth. Utilize Your Supply Chain Metrics Since information is the foundation of all future discoveries and improvements, data has emerged as one of the most crucial resources in every business or sector. Because this information may be utilized to enhance supply chain performance, data analytics is an essential component. For example, this information may track the number of goods you need to supply and receive, examine your spending and budget, and keep tabs on overall performance. Numerous platforms give comprehensive data analytics solutions, so you might apply these apps within your business to have a complete supply chain metrics framework that lets you access data from anywhere. Over the past several years, businesses and industries have become more data-centric; thus, using these technologies to offer the finest solutions and strategies for long-term success is ideal. Conclusion Maintaining your supply chain's effectiveness is essential for maintaining customer happiness and gaining a competitive edge. However, tracking many supply chain metrics may rapidly become unmanageable, so focus on a handful that is important to your business's bottom line. Partner with a third-party logistics provider if you lack the time or resources to manage and evaluate your supply chain metrics. 3PL offers the equipment and know-how required to track your supply chain KPIs and enhance your business operations. Utilizing WareIQ's Services Helps Improve Supply Chain Performance As a partner in tech-enabled logistics, WareIQ possesses the infrastructure and technology required for companies to monitor and enhance supply chain KPIs throughout their entire supply chain. With the aid of WareIQ's inventory management software, you can remotely manage inventory, keep an eye on essential data, and have inventory control without the hassle of self-storage. You can manage inventory levels and turnover using WareIQ's dashboard, trace your inventory through supply chain metrics, and get the data you need to compute GMROI. WareIQ's quick and precise order fulfilment services expedite the supply chain without compromising quality when orders come in. This enhances the fill rate, perfect order rate, and order cycle time, which can be tracked through your analytics dashboard. Our network enables businesses to provide services comparable to Amazon Prime. In addition, WareIQ's 2-Days express delivery network and fulfilment services help you to decrease your average delivery time while increasing your on-time and damage-free delivery rates when it comes time to send goods. It is now simpler than ever for your company to measure, evaluate, and fulfil your KPIs thanks to WareIQ's software and support capabilities, which also assist eCommerce organizations in reducing supply chain expenses and increasing efficiency. [signup] Frequently Asked Questions Why are supply chain metrics important?Benchmarking is an excellent approach to determining the goals for improvement projects, and supply chain metrics are a crucial tool for tracking progress toward objectives. The Supply Chain Leverage of several top-tier businesses illustrates how high the bar has been set. What is a supply chain dashboard?A reporting tool known as a supply chain dashboard is used to track supply chain metrics and KPIs on a single interface or display. Dashboards for the supply chain keep tabs on warehouse activities, logistics management, and inventory levels. Can WareIQ help with KPI tracking?Order fulfilment and shipping KPIs such as total orders placed, orders fulfilled, on-time fulfilment rate, fulfilment cost, average fulfilment cost per order, average revenue per order, and average transit time are all visible in real-time WareIQ's inventory management system. What are the key performance indicators that help to improve supply chain performance?The total order rate, on-time delivery rate, order fill rate, inventory turnover, gross margin return on investment (GMROI), supply chain costs, average delivery time, damage-free delivery, customer order cycle time, and cash-to-cash cycle time are among the most crucial KPIs in the retail supply chain.

July 27, 2022
Custom Packaging: Definition, Types, Benefits & How to Offer Branded Shipping Experience in eCommerce & D2C Through Custom Packaging in 2024

Custom Packaging: Definition, Types, Benefits & How to Offer Branded Shipping Experience in eCommerce & D2C Through Custom Packaging in 2024

Custom packaging allows businesses and products to create their own distinctive packages, as opposed to conventional packaging, which is the same as that of every other company. Product packaging is crucial for businesses because it not only makes their product stand out from the competition, improving the consumer experience but it also plays a key role in protecting the product within. If your company doesn't have customisable branded packaging, it will be difficult to stand out from the competition and clients will be less likely to respond favourably if the box or other sort of package is plain and monotonous. In this article, we'll delve a little more into the definition of custom packaging and some of its advantages. What is Custom Packaging? Custom packaging is boxing that is made especially for your business, the product your business is producing and the way it will be shipped. It seeks to protect the product more effectively than standard and generic packaging because it is designed to fit the product exactly. To ensure that the branded packaging functions flawlessly, the package frequently needs to go through an engineering, designing, prototyping and testing process. Going with custom packaging over standard packaging typically requires much more time, effort and money because the packaging undergoes an extensive procedure. The physical aspects of the package are equally as crucial as the engineering design, which must be flawless. Printing logos, patterns, forms, images or anything else the business wishes to incorporate on their custom packaging that stays loyal to their brand can be done on the boxes. [contactus_gynoveda] 6 Benefits of Custom Packaging for eCommerce & D2C Brands Enhances Brand Recognition When compared to normal packaging, the packaging of a product improves the consumer experience, brand awareness and value. Packaging is important since consumers today are looking for items that are distinctive and customisable. It leaves a lot to be desired and is likely to be a significant turnoff for customers to receive dull and generic goods that do not seem special and enjoyable. The emotional bond you build with a consumer will be considerably stronger if you can increase the value of your brand through better custom packaging and a superior product. Long-term and repeat business will be generated by the emotional connection, which will also lead to long-term success for the business. Increases Customer Satisfaction As we mentioned previously, superior packaging results in a better customer experience. Customers are drawn to packaging that is beautifully made and designed, which makes them feel valued and joyful. They will see something as lacking in packages that are ugly, generic and monotonous. Provides Product Protection Custom packaging is an excellent choice for improved shipment protection if your product is unusually shaped or more prone to breaking. The last thing you want is for your goods to break during ecommerce shipping because the ordinary box you are utilising is not well-padded or fits poorly. Custom packaging options are excellent for protecting your product from all sorts of harm. Grows Brand Value Every client merits a "Wow!" experience. Customers typically grow weary of receiving monotonous brown boxes on a regular basis. This Christmas, you might choose to surprise them by changing the appearance of your bespoke boxes and packing. Give your consumers the moment they've been waiting for by decorating your boxes with vibrant colours and designs. You can receive positive reviews by giving your customers a "wow" moment. Offers Eco-Friendly Alternatives The majority of personalised packages are constructed with environmentally friendly materials, which reduces waste. Papers allow for recycling and reusing by allowing for the creation of unique boxes. Environmentally damaging chemicals are not used in the production of papers by eco-friendly manufacturing enterprises. Sustainable materials like corrugated, cardboard and kraft can be made without using hazardous materials. The majority of these chemicals have an impact on both aquatic and atmospheric life. Therefore, choose eco-friendly materials while selecting a packaging material. Offer Branded Shipping Experience A post-ship experience doesn't end when your customers receive an order. Ensuring your shipping materials and packing process are on-brand will help your company deliver a branded shipping experience most customers will remember. When your customer receives a shipped package from your brand, their very first impression of your product is going to be the carton. From there, what is the first thing they see upon opening it? And the next? From start to finish, there are many opportunities for your company to deliver a memorable experience that solidifies your brand identity. Shipped products should be packaged in a way that enhances the customer’s experience of your brand. The order in which items are presented can add massive value and streamline a customer’s shopping experience.  Branded Tracking is used by some best fulfillment companies (such as WareIQ uses its own branded tracking page) for a much richer branding experience. What Does Fulfillment Container Packaging Consist of? Outer Packaging of a Fulfillment Container The first thing your customer sees upon delivery is the outer packaging of your fulfillment container. An important question to ask when choosing outer packaging is this: Should my company’s shipping packaging be branded or not? For companies shipping products that require discretion – such as adult products or high-end products – a plain and unbranded outer package is likely preferred, in order to prevent theft in transit or prying eyes from neighbours. For other products – especially perishable food items – it can be important to mark or brand the outside of the box to alert recipients of the package contents immediately upon receiving delivery. If your product doesn’t fit into either of those categories, consider what is best for your customer and your company. Will custom printed boxes and packaging material enhance your customer’s experience? If so, that can result in an increase in your company’s bottom line. If custom-printed boxes aren’t right for your brand (or if it’s currently outside of your company’s bootstrapped budget), another option to consider is pre-designed non-branded coloured boxes. These can be enhanced with a simple creative solution such as using a stamp to add branding or a sticker used as a seal on the outside of the parcel. Custom-printed packing tape is another great way to add branding elements to your shipping process. An additional perk of custom packing tape is that it serves to dissuade tampering during the transit of a product. Inner Packaging of a Fulfillment Container Choosing the inner packaging of your fulfillment container is another superb opportunity to highlight your branding. While many items are shipped with packing nuts, paper, foam, bubble wrap, etc., you may differentiate your shipping experience by using materials more aligned with your brand's ethos.For companies looking to promote their eco-friendly ethics, opting for biodegradable packaging or recycled materials shows your customers that you care about minimizing environmental waste. This gives customers the satisfaction of investing in a brand that promotes ethical, sustainable practices, which makes them feel even better about purchasing. Do you have a particular thematic colour scheme associated with your brand? Crinkle paper comes in most colours. Tissue, perhaps a more elegant option, can be printed with your company’s watermark! Types of Custom Packaging Materials The various kinds of materials used in custom packaging include: Paperboard Boxes Paperboard boxes are strong, lightweight cartons that may be cut and shaped into a variety of designs. They are the most commonly used packaging for retailers that deal in a variety of products and need a standardized material that can fit in all of them. It is also one of the most cost-effective options on the market. Solid Bleached Sulphate Boxes Their exquisite white hue is provided by the clay coating on their surface. They can be the finest choice for perishables like pastries, meat, and other items because they are smooth and ideal for branded packaging. Unbleached Coated Kraft Boxes This packing material has a rustic appearance. It will appeal to any customer who appreciates the organic appearance of repurposed materials. These cartons are perfect for storing heavier products like detergent for clothes, soft drinks and so forth.  Recyclable Paperboard With a Coating This packing material is used by online retailers to sell dry goods like pasta and cereal. It is constructed of fibres with clay coatings for added strength. It is inadequate for heavier objects and is readily weakened in storage areas. Corrugated Boxes They are also referred to as cardboard boxes and they work best for transporting goods from one place to another. Corrugated boxes are used to package the majority of Nike footwear. The flute size of these boxes also serves to distinguish them. Your product will benefit from additional cushioning and compression resistance as the flute size increases. Paper Bags Paper bags are versatile and simple to use. Paper bags were used for packing before newer materials were available. Paper bags are commonly used in grocery stores because of this. Aside from that, they are incredibly environmentally friendly materials that anyone interested in sustainable business may choose to use. Rigid Boxes Perhaps more expensive than other packaging supplies are rigid boxes. They are thicker than usual since they are produced from heavily compressed paperboards. They can be used for shipping and are not collapsible like other types of paper. They can be used to package pricey items like jewels, phones and shoes. Things to Consider While Choosing Your Custom Packaging in 2024 You should at the very least pick the colour, size and style that will be ideal for the type of brand image you want to convey to your customers. The sort and size of the product involved determine the quality and size of the custom boxes you opt for. Custom packaging can hold cosmetics, electronics, kitchenware and other products. The various factors to take into account as a result while selecting a tailored package include: Opt for a Reasonable Cost When you purchase custom packages in large quantities, you may frequently find them at reasonable pricing. Customers occasionally receive complimentary bespoke packages around the holidays. Therefore, firms should go for high-quality yet reasonably priced custom packaging to avoid incurring such high costs. Additionally, the design shouldn't be expensive. Test Out Various Materials Check out several materials before purchasing branded packaging supplies in bulk. Make sure the material you choose is appropriate for the design and object you have in mind. Looking for materials that will last and be strong. You can choose between kraft paper and cardboard for your packing needs. They can safeguard your things, are not too pricey and work well for personalised packing. Check Out the Finishing and Colours It's crucial to keep an eye out for appealing colours and finishing when selecting a personalised package. For your brand to stand out from rivals, it needs a distinctive hue. Therefore, selecting a single colour palette for your personalised products that represent your brand can aid in raising awareness of your company. For instance, the matte black colour boxes of the iPhone 12 pro series make them easy to spot. Optimize the Size and Shape When selecting custom packaging, take into consideration the appropriate shape and size. You can accurately measure your equipment and stuff to match it to the appropriate box size. You may protect your possessions from any kind of damage or negative publicity by doing this. Additionally, you will avoid waste and additional costs. Choose Themes Additionally, you can pick the ideal themes for your goods. Your company's themes, colours and patterns can help people understand your brand identity and draw in new clients. For instance, you might utilise a springtime floral design or add some red and white seasonal hues to your holiday presents. Your consumers will feel the greatest during any special season thanks to themes. Conclusion: Is Custom Packaging Right for Your eCommerce & D2C Business?  You may all agree that every firm benefits greatly from branded packaging. You can market your business, increase revenue and attract new clients with its assistance. Your consumers are equally as thrilled since your store offers a wide selection of beautifully designed custom boxes for them to select from. If you need assistance with offering branded packaging, you can choose to partner with WareIQ. WareIQ is a rapidly growing eCommerce fulfillment company that provides a vast amount of services to meet every requirement that online sellers can have. We provide branded packaging options that can be customized as per every requirement that a seller has and will make their products stand out from the rest. We offer a wide selection of materials and themes to ensure that your brand is represented in the best possible way. Custom Packaging: FAQs Why is custom packaging crucial?Custom packaging is crucial because it can set a product apart from the competition, highlight benefits, and project a premium image. For businesses trying to enhance their share of an expanding market, product differentiation is crucial. Without a box, how can I ship a large item?Wrap big parts in packing material, bubble wrap, or shrink wrap. It will protect them from dents and scratches while in transportation. However, our wrapped object will be more secure if you put it inside a box. If you decide to send it without the box, make sure to wrap everything tightly and tape it down. Do I need custom packaging?A product's marketing and sales can both be improved with good bespoke packaging. 60% of customers who enter your store are probably going to choose one of your product's beautiful custom packages. For instance, wine bottles that are packed can draw far more attention than wine bottles that are put on shelves.

July 27, 2022
Top 7 Strategies to Deliver a Branded Shipping Experience to eCommerce Customers in 2024

Top 7 Strategies to Deliver a Branded Shipping Experience to eCommerce Customers in 2024

People think an online seller earns a lot of money. Yes, they do, but how? Does the seller just make accounts on different online selling platforms and start his new journey? No! People might not know the process behind every single sale, but an e-seller has to put in a lot of effort and strategise accordingly. When a seller starts selling on multiple platforms through multi-channel selling, they have to do a lot both before and after the order gets shipped. They have to list their product, upload details category-wise, make FAQs on different selling platforms, etc. After this, the next process would be if they receive an order request. They need to pack it, take care of online payment, maintain inventory details, and a lot more. Among all, branded shipping is one of the most essential processes in online selling. It helps online sellers to make the process as personalized as possible and helps customers associate with the brand they have ordered from. What is Branded Shipping? Branded shipping is the shipping of a product by a seller to the buyer’s address which includes a process of using custom boxes, packaging slips & labels, sending order confirmation messages with tracking details, making product presentations highlighted, and adding various personalised touches. Experts believe branded shipping in ecommerce is an opportunity, especially for an online seller who cannot reach their customers directly. It helps them to increase brand presence and boost the recall value of a brand leading them to gain the mind-share of their customers and establish them as a brand. The primary objective is to safeguard the product through its movement with a delivery partner but it comes with numerous advantages. [contactus_gynoveda] How can your Business Offer Branded Shipping? A business can offer branded shipping by taking care of several steps: Offering Customised Packaging Packaging plays an important role in defining the impression on a consumer's likelihood to purchase the same product again. A seller cannot sell products without packaging. Packaging not only safeguards products but also adds value to your brand. A seller should always pack the product in customised boxes and bags. It takes into account the exact space needed, reduces the logistics costs, and increases brand presence. Sending order confirmation and tracking details The buyer should know their purchase details through tracking IDs. Every time an order is placed, the seller should send a confirmation of order placement to the respective buyer. It is helpful for both the buyer and seller. A buyer will get assured of his order and can track when they are going to get the delivery. At the same time, the seller can also track the product and get further insights into the status of the order and if the customer or the delivery partner is facing any problems. Sending an e-bill as well as a hardcopy E-bills have transformed the conventional way of giving a purchase receipt. An e-bill acts like a notification reminder for the buyer. In case the need arises to avail guarantee or warranty, it is easier to find than hard copies as they are susceptible to getting lost. In the threshold of the digital era, we have all kinds of people around us. Most of the time, consumers are not the final buyer. They sometimes buy for someone who is not internet friendly and still prefers physical buying. So for them, the bill gives a personalised touch from the seller's side by informing them about your company and brand.  Using visual branding elements Without marketing, your product sales are incomplete, and visual branding elements are a tricky way of marketing if you are not in direct contact with your customer. It includes logos, imagery, typography, colours, packaging and messaging, among other elements. As an eCommerce seller, it gives you recognition in a crowd of other sellers on the same platform. It can help you emerge as a brand and later get identified as a brand. Partnering with branded logistics companies The biggest online retailer, Amazon, offers the premium service of same-day or next-day delivery, for their prime members. Ecommerce logistics is the key to the success of online selling. It is a big factor among sellers to partner with a good logistic company to sell and buy products. People having a bad logistic experience may not choose the same seller and platform and would rather opt to purchase the same or a similar product from a different website.  Suggested Read: Find the Right logistics companies for your eCommerce Business. What are the Advantages of Branded Shipping in eCommerce? There are dozens of advantages of branded shipping for both the seller & the buyer. A few of the major advantages are listed below: For the seller Saves Time In branded shipping, you already have developed a system of packaging, delivering, and much more to the product, post-sale. You just have to send the product for delivery from your shop, warehouse or fulfillment center. Then it will get wrapped, packed, and sent via the best delivery partner. Features like checking shipment unavailability or product unavailability can save time, money, and energy for both buyers and sellers.  Saves Money Yes, this system will save money too in comparison to an unorganised way of packing and shipping. Unnecessary packing can be saved by using custom packaging. The extra weight and paper usage can add up to significant expenditures for businesses over time. It can also help you save money on shipping. The majority of shipping expenses are determined not only by the weight of the package but also by the size of the box it is shipped in. Dimensional weight pricing is the accurate term for this. If a seller doesn't use custom shipping boxes, they're probably spending more for each item they send than they need to. These may not appear to be significant factors, but when multiplied by the number of units sold, they can add up to significant savings for any company. Adds Brand Value Premium packaging, fast delivery, brand presence on and in the box, tracking options, etc. makes each purchase hassle-free and unique for the customer which increases the brands reputation and value. The customer will want to keep choosing the same platform because of the positive experience associated with it. Increases Brand Visibility Packing slips & labels along with the product invoice in a customised bag/box with branded packaging tape, and neat packaging is a trick of advertising and marketing where a consumer will appreciate all the fine details. This gives a touch and feel experience to a buyer instead of having a look at it on some random sites. Enhances the Customer Experience A customer receiving an order with all the small details being taken care of, such as getting the purchase confirmation to posting a delivery review and return policy, will appreciate the effort. Many sellers do not care about such things but it matters a lot when we talk in terms of positioning for customer satisfaction. For the Buyer Ability to track order The buyer will have a sense of satisfaction if they have been informed of all the detailed information about their order. They can see the entire delivery process, which is one of the most important things in online shopping. Ability to contact the seller directly The detailed information about the order and brand makes it easy for a buyer to reach out to the seller directly. Most of the time, people refuse to buy a luxurious or an electronic item for fear of being cheated so this eliminates that fear. Offers a hassle-free Purchase  A buyer who talks about the disadvantages of online shopping usually mentions the bad experience and problems faced during the purchase. Branding Shipping eases the process and makes it hassle-free for them. What are the Costs Associated with Branded Shipping? A good service that will give you several advantages, market your brand, protect your product then it will automatically become quite expensive. Every time you will have to purchase customised boxes, and bags as per the dimensions of your product, you will have to spend more for genuine tracking and will have to do a lot of compliances. So here is your business worth question arises: What to do now? You can do two things, either hire an expert if you are a single-channel seller, own warehouses with good inventory, partner with appropriate delivery channels, or you can just outsource an expert to do this all. Interestingly, the outsource channel may cost you less and give some extra features that you can not avail yourself of. These features are: Customised packagingOpting for the best delivery partnerGives you details about trackingReduces your cost of brandingManage your inventoryMake return policy easyEnhances post-purchase experience There are few businesses helping e-sellers with all the above services at an effective price that will cost less in a ratio per product compared to doing it by self. They save money because they do inhouse packaging, keep multidimensional bags and boxes, have their own fulfillment center, and eCommerce logistics experts to compare prices of different logistic channels with the fastest delivery, if the product got returned then they receive and keep it again at the fulfillment center which is quite cheaper than sending it back to the manufacturing units or warehouse and again ship it to some other buyer. These days they tell you, your fulfillment status and the return number(percentage) by the buyer which again helps you to choose to ship them or not.  Top 7 Strategies to Deliver a Branded Shipping Experience in 2024 Use Custom Shipping Bags and Boxes The packaging supplies and shipping boxes can be ordered online and delivered right to the buyer's door, saving money for the seller. When it comes to branded shipping in eCommerce firm, the box is the first thing a seller should think about. This gives plenty of chances to make it a memorable aspect of the delivery process. From corrugated boxes to printed courier bags, tapes, and stretch film rolls, can give the products a branded look without sacrificing quality. Check out the custom shipping boxes for a variety of alternatives. Choose from a variety of sizes, colours, materials, and forms to create your ideal branded box. Customers are more environmentally sensitive than ever before, hence eco-friendly boxes are also accessible for shops. It ensures that the brand receives notice and that the shipping is more brandable. Include Packing Slips & Labels Two crucial components of branded shipment are branded labels and packaging slips. For many e-commerce businesses, they are only a means of improving brand loyalty and the transactional aspect of the e-commerce shipping process. Sellers might be wondering how a standard shipping label and slip contribute to branded shipment. Remember that anything a customer touches or sees has the potential to engage them with the brand. Give the package slips and labels the same attention to produce the perfect branded shipping. A well-planned packaging slip can help in expanding the business. The packaging slip is more crucial than the invoice because it ensures all aspects of a shipment, from purchase details to track, as well as identifying out-of-stock items, damaged items, and the package's worth. Packaging slips are one way to ensure branded delivery and manage customer expectations, regardless of how a seller handles their shipment. Opting for the best logistic partner One of the wealthiest people in the world guarantees you better logistics because he knows and has proved that the USP of online multi-channel selling will be the supply chain. We know logistics is the key to selling online, and being in your business you may not be a logistic expert then what to do now? Here, you should play smartly. You are not a logistic expert so get partnered with experts, and now your product has an equal better post-purchase service. Send Order Confirmation & Tracking Details When a buyer places an online order, they should receive an automated email immediately confirming that their order has been received. They should also be notified about the order status. It is important for informing the customer of the branded shipping experience. It also raises the chances of customers returning to the seller's website and encourages signups. It helps in gathering consumer information to evaluate which customers convert the best. Highlight the Product Presentation The presentation of the product inside the box is just as critical as the exterior. This necessitates the use of high-quality packing materials, as well as consideration of the product's size and shape, as well as the shipping box. The usage of separators within the box improves the appearance of the products. A seller may create a terrific unboxing experience that your consumers can post online. By using a certain colour scheme, look up some popular unboxing and product presentation ideas and keywords to discover which ones have attracted the most attention. Add a Touch of Personalization The easiest method to amaze a consumer is to add a personal touch to your shipping boxes. Consider the brand and let buyers know the company is paying attention to them. Including a thank you letter in the shipping box will demonstrate how much the company values its customers. Furthermore, employing customised options might enhance the consumers' unboxing experience. Allow customers to take their time enjoying the things they've ordered. Although this may appear to be a minor action, it has the potential to earn sellers a fantastic reputation. In today's competitive environment, how sellers brand their unwrapping and shipping experience has a direct impact on your customer's experience and perception of that brand. Box Inserts Once the box is opened, will you take this moment to present your customer with something in addition to what was ordered? This stage in the fulfillment process is often overlooked, but it can greatly enhance the customer’s experience of unboxing their order. Here are some different options and ideas for box inserts: Personal touches At volume – handwritten notes aren’t feasible, a printed note card is more than adequate to evoke a similar welcoming feeling. Consider taking this opportunity to thank your customer or formally welcome them to your brand.Even packing slips can be personalized with a signature or stamp that says, “Packed for you by ____.” This reminds customers that your business is run by real humans who care about the customer experience. In an increasingly automated world, these simple human touches can make your brand stand out. Postcard inserts Feature a call to action, such as an invitation to join a social media contest.Ask customers to document their experience with a photo of their new products.Share your company’s origin story or brand values.Include an on-brand quote or introduction.Companies that offer high-touch support can invite customers to contact customer service with questions or feedback.Promotional material such as a discount code for future orders will encourage repeat sales and maximize a customer’s lifetime value. Gifts Delight your customers with an unexpected free item such as stickers, freebies, or other bonuses. If your products can be distributed in sample sizes, this is a great cross-sell technique to introduce your customer to a new or complementary product. For the proper effect, the product sample must be of interest to the specific customer segment, based on the product ordered. Random or non-complementary gifts can have an adverse effect and may appear to be a tool for liquidating stale inventory. Post purchase experience Companies are now putting more emphasis on customer service than on product and pricing. It's all about driving new sales for numerous brands. When clients click the buy button, the mission is complete! Isn't it time to rejoice? Not so fast, my friend. The seller's work is just getting started. The truth is that post-purchase touchpoints determine whether or not a buyer becomes a lifetime customer. The fact holds whether you're looking at it via the objective lens of lifetime value or the subjective lens of customer experience. If a brand can keep a customer satisfied for 100 days, the average customer will stay for five years. It's time to get serious about the post-purchase experience if your company sells products or services online. Conclusion: How Does WareIQ Help eCommerce & D2C Brands Deliver a Branded Shipping Experience? WareIQ offers a variety of services to eCommerce Retailers and can help deliver a high-end branded shipping experience to their customers. From our state of the art app store to custom shipping badges to inform customers of the estimated delivery time, WareIQ has got you covered.  With our comprehensive branded tracking system, you are able to: Get a unique customised tracking URL Integrate customised tracking links to your website and let customers track their orders on your website. Intelligent marketing placements to cross-sell/up-sell Turn your order tracking links into a profitable marketing channel. Create cross-sell/up-sell opportunities, drive repeat, and educate customers. Store links on your tracking page Convert customers back to your site by adding links to your website on the tracking page. Shipping journey and order tracking Get full shipping journey and real-time order updates on the tracking page. Gather feedback from customers on the shipping experience Customer Reviews App collects feedback from your customers & gives you an insight into the brand performance that can help you increase customer retention & loyalty, cater to the problems highlighted by dissatisfied customers faster & improve brand perception. Shipping Badges Shipping badges appear on your product pages that helps customer check pin code serviceability and the expected delivery date for any product. The WareIQ App Store is well-designed and is enhanced to be as user-friendly as possible to allow customers to browse through all our apps, consolidated within the app store with just a few taps. With convenient navigational tools, fed with live data of your business performance, our app store offers users next-level capabilities to get the most out of their eCommerce business & offers best branded shipping experience. Some tools that we offer are listed below: Provides you with more tools in your arsenal to boost your eCommerce operations and make the supply chain your competitive advantage.Acts as a centralised portal, empowering you to manage all the stages of your eCommerce fulfillment and shipping operations from WareIQ platform directly.Shed down the inefficiency, inconvenience and complexity of working on multiple non-integrable apps. Our suite of powerful applications can easily integrate with your eCommerce workflows and systems, thereby opening new avenues to scale up your business.Leverage AI-ML powered analytics, fed with live data, for smart demand planning, smart inventory placement and network optimisation to enable same/next-day delivery for our customers.Helps you reach out to your customers on the right channel at the right touchpoint, and build trust with your customers through transparent communication and seamless engagement.Build customer loyalty by ensuring a delightful post-shipment experience for your customers. 300+ brands, such as The Man Company, Future Group, Kama Ayurveda and Wingreens Farms, have trusted WareIQ as a reliable partner in their growth journeys. No minimum order quantity requirements make it suitable even for small businesses, having low order quantities, to take advantage of the latest trends such as next day delivery and same-day delivery. The onboarding process is simple, convenient and less time consuming, while the pricing policy is clear and transparent. WareIQ also undertakes strict safety precautions at its warehouses and complete ownership of the operations, thereby minimising the risk exposure of WareIQ customers. Thus, WareIQ will definitely prove to be a more reliable and trusted long-term fulfillment partner compared to dropshipping and conventional 3PL companies. [signup] Branded Shipping FAQs (Frequently Asked Questions) What is branded shipping in ecommerce?Branded shipping serves to strengthen your company's identity while also telling its unique story. Branded shipping is a way of providing superior post-purchase or post-ship experience to online shoppers. How to provide branded shipping experience to your customers?• Go for custom packaging boxes• Add packaging slips and labels• Share timely order tracking information• Try including something to add personal touch• Make sure that products are presentable What is custom packaging?Customer packaging is packaging used by your brand to ship products, it should reflect your brand’s identity every time. Does WareIQ offer branded shipping experience?Yes, wareIQ offers a comprehensive branded tracking system through its app “Branded Tracking” and branded shipping experience through real-time communication updates regarding order status, custom packaging, shipping tags & shipping labels. Why is labeling a product important?A label serves as identification to an otherwise nameless item and aids in right products reaching the right customers that further creates a trust between brand and the customer.

July 27, 2022