What Is Inventory Management?
Inventory management is the process of keeping track of the items a business has in stock. This includes tracking what is available, what has been sold, and what needs to be replenished.
A good inventory management system helps businesses know how much stock they have on hand and allows them to provide customers with accurate and timely orders. Fulfillment centers help stream line the process by providing organized storage and handling of goods, making it easier for businesses to manage their inventory and reduce costs.
Overselling occurs when online stores receive more orders for a product than they have in stock. This often leads to customers receiving emails informing them that their item is out of stock, creating a poor customer experience and resulting in lost sales. Additionally, customers may write negative reviews if they are unhappy with the situation, discouraging potential customers from buying from the store. One way to prevent overselling is outsourcing fulfillment, which helps with better inventory management and reduces the risk of running out of stock.
Choosing the Right Fulfillment Center
For eCommerce businesses, outsourcing inventory management and fulfillment to a third-party center can be a great way to scale. You can avoid the hassle of inventory in-house, and the third-party center can ship out orders quickly. This lets you focus on other aspects of your business and launch new product lines faster. Outsourced fulfillment also gives you the flexibility to adjust to changing customer demands.
Fulfillment centers can help online stores save money on shipping costs. They can do this by negotiating with major carriers to get better rates than an individual store could get on its own.This helps merchants to offer free shipping to customers. Additionally, fulfillment centers provide merchants with package tracking numbers which merchants can then give to customers. This improves the shipping and returns processes for customers.
By outsourcing fulfillment, store owners can take advantage of a third party's resources to handle the return process.Instead of having to manage returns in-house, merchants can send returned items to a fulfillment center. This will save time and money, as the fulfillment center can handle the process, including packing, shipping, and refunding. This allows merchants to focus on other aspects of the business, such as marketing and customer service.
When choosing a third-party warehouse and fulfillment partner, it's essential to ensure they are compatible with your current eCommerce system. This ensures that you can easily monitor orders and provide customers with tracking information. Many providers will work with you to tailor a solution that meets your needs. Outsourcing your fulfillment process can make running your online store more efficient and convenient. For 3rd-party fulfillment services, rely on All Points. We are a one-stop shop for premium pick-and-pack fulfillment services.