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Inventory Management Strategies

Here are a few Inventory Management Strategies

System Integration

There is nothing more challenging in logistics than when inventory management systems and order management aren’t integrated properly. If these channels operate on the same system it will increase efficiency and eliminate mistakes. This will make the process easier for the 3PL and customer.

Keeping up with Demand and Industry Standards

Lets face it, Amazon has set the bar high from a logistics perspective and consumers are expecting similar experiences across the board. Fulfillment organizations have to understand the end customer more than ever. Processes and procedures will change with the evolving channels so you need to stay flexible. Communication and quick responses will keep the operation running efficiently and ultimately keeping consumers happy to drive more business.

Open Communication

Customers want to be able to purchase product online, buy online and pick up in store, and then also buy online with the ability to return to a store. The number of options can make it difficult for retailers, especially if all of these channels are not on the same inventory management system. With a 3PL involved, it can cause another hurdle as inventory will have to be reconciled in multiple locations. We will further discuss systems in a moment.

Experience

If you are looking for a fulfillment partner to handle this operation, make sure the 3PL has experience working with retailers and omnichannel operations. They are complex and require an expertise.