E-commerce was born as a mere straightforward online channel for sales and purchases. However, customer expectations for E-commerce have significantly changed the E-commerce fulfilment and competitive landscape over the last few years.
The internet has interconnected billions of buyers and millions of sellers in a web of commerce. Online platforms today are crowded with sellers, and the competition is fierce. The movement of goods must be accurate and timely while also ensuring that the quality and condition of these goods are not compromised. The current scale of E-commerce transactions has made the supply chain more complex and an effective supply chain management system a necessity rather than a luxury to achieve performance excellence in all aspects of the order fulfilment journey.
Optimizing E-commerce Supply Chain Strategies
Here are a few simple tips for optimizing your E-commerce supply chain.
1. Real-Time Inventory Visibility
Real-Time visibility has never been more critical given the industry’s record-breaking pace of inventory arrivals and departures. Businesses need to know what inventory they have on hand and at what stage of the supply chain it is lying at.
According to the Zebra® Future of Fulfilment Vision Study, the emergence of omnichannel logistics requires an average inventory accuracy of 76%, according to manufacturers, retailers, and transportation and logistics companies. For customer satisfaction, businesses must know the real-time status of their total inventory across their whole organization, including fulfilment centres, storefronts, third-party logistics warehouses, and even their vendors.
2. Accurate Data and Effective Stock Planning
Incorporating the whole risk of stock-outs and lost sales into their total cost of ownership (TCO) calculations, resilient retail players are adopting bold near-term solutions. Automation is a means to improve service levels and reduce the risk of missed sales due to stock-outs in today’s age of high absenteeism and attrition. 64% of respondents to a McKinsey survey of supply-chain executives cite warehouse automation as their top digitalization and automation target.
Using RFID technology, you can have real-time information on your inventory at all times, thus, ensuring the availability status of your products seen by your customers will always be accurate.
Studies have shown that by leveraging RFID, Retail & Ecommerce organizations can automate their inventory data and improve accuracy by as much as 30%. Studies have also shown that with RFID, you can replenish stocks in time to avoid out-of-stock situations by up to 50%, thus, ensuring that your most popular items are always in stock. For more information, Visit https://www.barcodeindia.com/blog/3-ways-to-optimize-e-commerce-supply-chain-with-zebra-hardware/
