Platforms such as Amazon, Flipkart, eBay, etc. are significant marketplaces to sell your products because of their reach and customers. However, retailers often find these marketplaces frustrating from a financial point of view. eCommerce businesses face the problem of payment reconciliation from time to time. When these minor unremitted orders and payments are erroneously ignored, online sellers often find themselves at a loss of money. There are cases of deductions, returns, etc. are also other leaks that eCommerce retailers often fail to plug.
As of 2020, e-commerce is at the centre of retail and customers’ expectations from it are skyrocketing. With a whole world of choice at their fingertips (quite literally), customers can switch loyalties at the drop of a hat. That is why it is critical for brands to provide the best service, from order to fulfilment and after-sales.
As your eCommerce business proliferates, you have to make sure that your warehouse is managed efficiently. The day to day warehouse management operations ensure that inventory is received, stored, picked, packed, shipped, and replenished in the most efficient way possible. When warehouse operations are efficient, your business keeps low costs and happier customers. But, when improperly managed, there is a delay in your orders, workers will not be as productive as possible, and your company loses money and reliability. So, how can you, as a retailer, make sure that your warehouse operations run smoothly?
Managing tens and hundreds of inventory without an organised system in place or methodical analysis tools, especially in e-commerce businesses, can turn out to be a time-consuming process, often resulting in increasing inventory levels with a shortage of fast-selling, profitable items. Without optimizing inventory, organizations run the risk of overpaying but underperforming.