Fulfillment Warehousing and Shipping: Ways to Spot and Solve

Inventory managementWhat is inventory management?Inventory management seeks coordination and efficiency in the administration of the materials necessary for the activity.Before defining inventory management, let's define cost accounting, which is a branch of accounting that is dedicated to analyzing, determining, and controlling the costs that an organization incurs.Inventory management definitionInventory management is included within the cost accounting branch and is defined as the proper administration of the registration, purchase, and exit of inventory within the company.A company usually maintains a minimum number of stock to cope with increases in demand, in the same way, that it also has to have the necessary material to continue production and that there is no pause in the activity.Types of inventoriesThere may be different types of inventories such as raw materials, finished products, etc.Two methods are usually used for inventory management:ABC systemEconomical order quantityValuation of the exit of stocksThere are several methods to find out the final cost of the exit of the stocks that were in the inventory.FIFO: First in First out.

The first existence to enter, the first to exit.

It means that the inventories are valued at their exit, at the cost price of the first existence in the warehouse, that is, the inventories will be valued at the oldest cost priceLIFO: Last in First out.

The last existence to enter, the first to exit.

Stocks will be valued at the most current cost price, at the last stock entered into inventoryPMP: Weighted average price.

Cost price is the weighted average of the different entry prices(fba prep center)

From startups and small-scale businesses to big conglomerates, there are numerous companies that can get benefits from having their own ecommerce website.

It will allow them to sell their services or products to their targeted audience, rather conveniently while eliminating the need of hiring a middleman.In today’s contemporary world, nobody wants to buy items by venturing to the high streets.

Instead, they want to shop conveniently from their own homes by getting same day delivery services.

This makes e-commerce a prudent solution for business and buyers alike.If your mind is still hovering around about launching an e-commerce store, look no further.

There are high chances that you can easily expand your customer base this way.

That is why many people purchase things online.

The Multi Carrier Shipping Label app allows you to perform Shopify Shipping and fulfillment easily in a simple set of 3-4 steps.

With this app, you can perform the following functions : - Display real time shipping rates from multiple carriers like FedEx, UPS, USPS, Stamps.com, Canada Post, DHL, Australia Post, Delhivery, Bluedart.- Instant label generation for your shipments from within your Shopify store.- Request pickups for your shipments- Generate manifests for your store- Select the cheapest shipping carrier rate from a list of rates- Provide live tracking details to your customers- Choose to ship domestic, international or both.Ths is just a summary.

To know more about the detailed features you can take a look at the detailed Shopify guide.

Full-service eCommerce fulfillment firms include kitting and fulfillment services as a standard service.

While industry insiders are well-versed in kitting, few outsiders know the range of projects kitting involves or how frequently they see kitted products regularly.What is Kitting?Kitting is the process of bundling different products into different types of bundles.

Kitting also refers to manufacturing of "kits" containing materials for retailers, storing and displaying items and directly shipping to customers.Is Kitting An Ideal Choice?To determine whether kitting and fulfillment services will help your company, first learn about the process.The products, including the primary product and any extra pieces, or the material for a specific basket of items, are procured by kitting companies.

Next, they create the appropriate packaging and collect the necessary materials, such as other retail display components, ranging from cardboard to plastic wrap.To guarantee that all kit components arrive at every purchase, any company selling combo packs must have high standards and quality control techniques.

The following items are required for a successful kitting setup:Enough space for both merchandise storage and assembly.Access to packaging vendorsQualified workers that can quickly go from kitting one product line to the nextAvailability of numerous modes of transportationSetting up a kitting and fulfillment unit is costly, and there is no assurance that the performance of in-house kitting operations will meet your expectations.How are Kitting and Fulfillment Services ideal for your business?Obtaining all of the items required for kitting necessitates the usage of warehouses.Your company generates revenue through profits and low overhead.

However, this instance where doing it yourself (DIY) would not save you money.

The importance of the return policy in international e-commerce Returns in the supply chainFor many e-commerce sellers, just thinking about returns, and especially international returns is a headache.

They change the profit margin, cause a lot of logistical and administrative problems.Therefore, a return policy and logistics are needed that can be perfectly executed, with transparent processes to promote trust with the customer, which on the other hand, are feasible and profitable for the seller.

In this sense, 'Sales Supply' has collected several reports to show the importance of creating this policy when adding customers.An unclear or inflexible policy can result in lost salesFrom a customer perspective, online shopping means sacrificing the ability to see, touch, and taste an item in exchange for other benefits, such as convenience, a better price, or the availability of a certain product.Despite this, the idea that the product may or may not be imagined or may arrive damaged creates a need for the customer to know exactly how to return the products and receive their money back.

An unclear return policy is the second reason why the checkout process is abandoned, according to a study conducted.Facilitate returnIn contrast, the research revealed that 53% of customers were satisfied when the return policy and procedure was clear and transparent.Thus, when selecting a retailer, shoppers value return policies that offer convenience and money-saving initiatives.

A pre-printed return label on the box, the possibility of returning the items to a store and, above all, returns free of additional costs are factors that increase purchase intention.However, ComScore found that consumers continue to experience problems with shipping costs, lengthy return forms, or delays in waiting for their refund.The retailer's perspectiveAccording to 'Sales Supply' retailers view return policies as a costly process that will not lead to higher sales.

The handling of all the products, the shipment back to the warehouse that is usually abroad, the communication with the clients, the taxes, the administration… All this can be a great challenge for retailers.The European Consumer Commission's scoreboard shows that most retailers still see too many obstacles to cross-border selling, including complying with consumer protection rules abroad, rising costs, and geographic distance.