As your business integrates assorted technology functions into its omnichannel, the fastest growing segment, eCommerce, is perhaps the most important one to cultivate. Current estimates place eCommerce business as a small percentage of total retail sales, but its rate of growth is almost twice that of overall retail growth. ECommerce sales are forecasted to make up 25 percent of worldwide retail sales within 10 years. Improving the way your system executes its eCommerce fulfillment can boost your bottom line.
Enlisting third party logistics providers, also known as 3PLs, to assist with eCommerce fulfillment, can keep your costs low as your business develops. The more channels you use, the more fulfillment you may need to manage. Logistics companies can give you the agility to compete in a world where companies like Amazon have set the standard for fulfillment.
Integrate eCommerce into the Omnichannel
Being aware of how much product is sold in each channel is often crucial for understanding how much to purchase. Too much inventory can result in excessive storage costs while too little inventory can result in lost sales. The ability to track sales while managing stock and fulfillment can be essential for a well-functioning omnichannel.
Inventory management and fulfillment tracking usually becomes more important as more sales channels are utilized. Adding technology can help. The use of a wireless tracking system can provide real-time inventory reporting to the customer. Look for a tracking system that can provide accurate reports to clients.
By strategically partnering with 3PLs, you may be able to scale distribution strategies that reduce costs and improve delivery times. Holding stock in remote locations while having the ability to respond to company growth—while automatically tracking products within the fulfillment process—can give you a major competitive edge.
SureShip is a 3PL that can reduce fulfillment costs, provide excellent expertise and utilize the latest technology to power your eCommerce strategy. Call us today to learn more.