Many companies are paying way too much for shipping and wasting valuable resources in the process as well.
A robust inventory management software system can help to resolve this problem by ensuring cheaper, faster shipping in the future.
Here are some tips to help improve your company’s shipping process with proper inventory management software:
If your company is shipping products without an automated fulfilment process, then you’re spending too much time and money on the process. Inventory management systems can easily automate processes, from fulfilment services and notifications to customers regarding their shipments, to updates to suppliers when inventory is getting low.
Speed is the Key
Advances in technology have changed the expectations of customers in terms of acceptable waiting times for product delivery. Standards for damaged products have also risen significantly. With proper inventory management software in place, these processes can be streamlined. If you ensure that your company’s order handling process is the most efficient it can be at every step, and that your employees fully understand the process, your result will be satisfied customers.
Take Advantage of Drop Shipping
Inventory management systems that allow for drop shipping can reduce inventory holding costs and associated overhead costs by having your company’s manufacturer or wholesaler directly ship finished product to your customer.
Utilize Lot Tracking
Inventory management systems with lot tracking allow for recalled products to be easily found and properly dealt with in a speedy and cost-effective way. Not having to recall every product - but only those affected - will help your company save money and retrieve affected shipments faster. This will allow your company to regain the confidence of consumers and bounce back in the event of a recall.
Pay the Right Price
The ability to factor landed costs into inventory values and costs of goods sold is imperative to ensure that your company and customers are paying the fair price for products. Proper landed costs will also directly affect the pricing decisions your company makes and allow for appropriate commission payments to sales reps.
The above tips are only a few of the many ways that a proper inventory management system can positively improve shipping times and reduce cost. In addition to standard functionality, depending on the nature of your business many inventory management systems offer additional components in order to meet unique inventory management needs.