What is Order Fulfillment and How to Use it to Your Advantage?
By definition, order fulfillment refers to the sequence of steps involved in receiving an order from a client to delivering the requested product to the customer’s doorstep. Besides leaving customers satisfied, faster order fulfillment also makes store managers happy because it reduces inventory congestion in stores and warehouses. In fact, a recent survey revealed that approximately 24% of online buyers desire same day delivery while a whopping 65% prefer next day delivery. To have an added advantage over your competitors, your company should strive to reduce the amount of time it takes to deliver all orders to your clients. If you are looking to discover what order fulfillment is and how you can use it to your advantage, this is the right article for you.
Accuracy and Good Packaging
Shipping an accurate and complete order to the correct address will give your business an added advantage over your competitors.
Furthermore, the packaging should be eco-friendly and the products neatly arranged to display your brand’s message accurately. Although even best order fulfillment companies make errors, their number is much lower than the number of mistakes you would make shipping your products.. Having more than 98 or 99 percent of fulfillment orders executed without any error is what you should ask from any reliable company
Proper Inventory Management
To use order fulfillment to your advantage, it is vital to ensure that your inventory is managed properly.
To make sure that your inventory levels are always accurate, it is extremely important to try forecasting your sales. Working hand in hand with buyers and merchandisers to keep all your products turning over goes a long way in helping you to keep the slow moving items from taking much space in your distribution center. If you are wasting your valuable storage space on slow movers, you are most likely losing a lot of cash. Always focus on stocking the right products and ensuring that your customers have complete visibility into your inventory.
For your business to thrive, customers must feel they are getting the best services for their money. Regardless of how cheap your products are, if they do not fulfill the expectations of your clients, they will purchase similar products somewhere else. To gain a competitive advantage, it is crucial to come up with ways to reduce your cost per order shipped. In fact, using order fulfillment is vital in helping you to keep up with the rising pressure of minimizing supply chain operating costs. Apart from reducing space and labor, order fulfillment also contributes to cut your transportation costs.
Timely Service Delivery
One of the ways to use order fulfillment to your advantage is to ensure timely delivery of your products to your customers. One huge benefit of timely order fulfillment is that it allows you to get your products to the clients as fast as possible and at the lowest price. Order fulfillment that is properly executed translates to increased profitability for your business and better customer satisfaction.
As your company makes an effort to adapt to the growing needs of your clients, prompt order delivery within the stipulated time frame is one of the vital areas to emphasize on. To satisfy your customers, order fulfillment should be not only fast but also accurate. The tips elaborated on this page will ensure that your business efficiently receives, processes, and delivers orders to your clients on time and at a lower cost for increased profitability.
At IM Investment Holdings, we provide order fulfillment for all types of businesses. Our fulfillment services include pick and pack and labeling if necessary. We offer a whole range of logistics services to help a business grow.