From ordering inventory and subsequently storing it to picking and packing orders for distribution to customers, there’s a lot that goes into managing your business’s retail supply chain. As the complexity of supply chain management grows, the more time-consuming and costly it becomes for retailers.
There are, however, lots of things you can do to optimize your supply chain in 2021. And when you do that, you can focus on other things, such as growing your business. We’ll discuss all that and more in this article, so keep reading to learn more.
What is the Retail Supply Chain?
The supply chain is the process of logistics that dictates the flow of goods from the supplier to the end customer. And these supply chains are made up of many different companies with different relationships and approaches to the work they do, from packing, picking, shipping, and carrying to managing returns, inventory management, and plenty more besides.
The Impact of Covid-19 on the Retail Supply Chain
There’s no doubting the fact that the Covid-19 pandemic has had a significant impact on the world and how businesses operate. Supply chains of struggles in the retail sector, and inefficiencies have become rife.
There are ways to adapt, however. Consumer demand is changing and that means online shopping is the norm, this is something that retailers need to adapt to. New buying habits that are formed now will more than likely stick post-pandemic and retailers need to be ready for that.
The fulfillment of orders in a fast and reliable way that works for the customer matters more than ever. Customer expectations are high and retailers that don’t offer speed and certainty will be left behind.
Forecasting demand by tracking stock levels through the use of inventory management software is another way to stay efficient. It can help optimize everything from storage to replenishment and carrying costs. It’s also true that greater automation in the inventory management system is key as new automation options emerge.
How to Improve Retail Supply Chain Management
When it comes to improving the management of your retail supply chain, there’s a number of approaches that can be taken. The most significant is the choice to work with a third-party logistics provider to help improve the supply chain across the board.
The benefits of doing so include outsourced warehouse management, the ability to benefit from inventory data that are updated in real-time and leveraging existing fulfillment center networks, and remaining competitive within your business’s sphere of operations. All of these things will boost efficiency and keep costs in check.
Improve Your Retail Supply Chain with ShipJoy
If you think now is the time to improve your retail supply chain, it’s time to start working with ShipJoy. When you outsource to us and let us help you with optimizing your logistics and retail supply chain, your team will be freed up to focus on other tasks necessary to the success of your business. Grow it by putting your faith in our trusted and experienced team of professionals.