In the present online world, developing an effective multi-channel supply chain strategy is crucial if you must stay relevant in this present dynamic world. If you have an effective multi-channel retail strategy in place, it generates an additional source of revenue for you, and it avails the customers, great experience they won’t forget in a hurry.
Multi-channel supply strategy is, no doubt a blessing of the present day’s sales and marketing. However, its ways of operation by allowing multiple ways to buy, receive, and also return these goods make it look complex but not.
This is in agreement with the Multi-channel Merchant that about 91 percent of running multi-channel retail strategy, just 10 percent out the whole population has mastered it. The following are four things to note to ensure effective implementation of the multi-channel strategy;
1. Endeavor to simplify the inventory management
With multi-channel management strategy, products take an entirely different route of fulfillment, and as such, complexity sets in as regards product tracking and inventory management. This is the right time to consider investing in a warehouse management system if you have not done such before, for your operation.
Inventory placement needs to be managed successfully by ensuring accurate and up-to-date information are maintained through the implementation of your system.
2. Make sure you improve the order speed and accuracy
Setting your business apart should be your focus point as the expectation of customers increase. This can be easily done by improving the accuracy and speed of getting the goods to your customers.
Technologies such as pick-to-lights, voice commands, and automated conveyance systems are there to leverage. This way, you will remain competitive, and in no time, you will break boundaries beyond the telling of it.
3. Ensure proper optimization of your operation
The overall efficiency of your company rests solidly on how you design your warehouse and how best you manage your human resource. Suitable warehouse design will ensure ease of operation and reduce the drudgery associated with the work.
It is just as important to put back the human in human resource by dealing with your workers charismatically and ensure you keep motivating them.
4. Invest and maintain a standard easy return policies
The truth is, returning goods that fall short of customer’s expectation or defective is an easy thing to do or manage by the e-commerce company, but if invested on, it pays as it is reported about 89% percent of customers are willing to shop with a store that has definite return policies.
Though managing reserve logistics isn’t as easy a walk in the park as the extra costs on redundant processes, transportation, integrated IT systems are quite challenging but if you do it, you will enjoy its results.
Finally, it is crucial to work with a reputable third-party logistics company. They will handle the complexities involved in implementing multi-channel strategy, and in no time, you will start reaping the fruits of your investments.
