If your company has a warehouse and manages inventory, you probably know the challenges of staying profitable and dealing with change. That’s why we developed “38 Ways to Improve Your Fulfillment Operation.” It’s a guide to help you think of ways to make big and small improvements. Some of the topics include benchmarking, how to better manage your employees and leveraging automation and technology.
- Applying warehouse automation and technology: As warehouse labor costs increase, companies are implementing technologies that provide a return on investment. Voice-enabled technologies used throughout the fulfillment process – not just in picking – generally have a proven ROI. In our report we cite 8 technologies you should investigate.
- Inventory management in the warehouse: Inventory is the largest balance sheet asset in most businesses. Tracking location and status is key to profitability. Having four inventory metrics – inventory turns, inventory aging, order fill rates and inventory carrying cost – will provide the metrics required to monitor inventory.
- Use of third-party fulfillment: While this isn’t for everyone, many multichannel businesses have found partners that provide competitive cost per order and good customer service. It generally allows them to avoid infrastructure and capital costs for new facilities and systems. Using a 3PL also allows a faster, lower-cost implementation of a multi-DC strategy.
“Over the next three weeks we will offer installments on improving inventory management, contact center and information technology. These four sections will give you over 70 ways to improve your fulfillment operations, all of them time-tested solutions that our clients have implemented.”