Monitor inventory in real time
To be better prepared for peak season, your team needs to carefully consider all aspects of the supply chain. For effective e-commerce logistics, it's essential to put in place an inventory management and tracking system that ensures efficiency and real-time availability. The more you keep track of inventory turnover, the better you'll be able to forecast future sales, anticipate demand and therefore adjust the level of inventory you need throughout the year. You'll have better control over your logistics costs and be able to guarantee an optimal customer experience thanks to this planning and accurate stocktaking.
Technology can help to improve centralized stock monitoring. Efficient warehousing includes barcode scanning, advanced inventory management and real-time API between your WMS and CMS. Not only will this reduce the error rate, it will also help reducing the time taken to prepare orders, then dispatch them. You will be able to identify a potential stock shortage before it happens. Real-time monitoring will enable you to strike the right balance between having enough stock to meet orders and overstocking, which would obviously make storage more costly. Regarding this last point, taking advantage of a logistics service provider's pooled network can help you cut costs.
And don't lose sight of the fact that, as the number of orders increases, so will the number of potential returns. An order management system will also be very useful for managing returns, tracking them, restocking them if necessary, then refunding customers quickly and smoothly. This too is a key part of your customer service!
Lastly, digital technology is also a way to provide your customers with much-appreciated information. Did you know, for example, that 81% of them check the progress of their order during the delivery cycle? Real-time monitoring certainly requires a complex order management system and a certain level of connectivity between your IT system and your partners' system. But whether it's through CMS, ERP software or a marketplace, this additional communication will add a lot of value to your e-commerce business.