While the dog days of summer are upon us, the peak holiday season is top of mind for retailers as they prepare for another strong sales season.
And as many more consumers opt for online shopping versus in-store – making more than half of their purchases online – the stakes are even higher for one vital area of the retailer’s supply chain: Order fulfillment.
For ecommerce sales, this back end of the supply chain is arguably the most significant as it’s the last impression a retailer can essentially make on a consumer. The expectations here are high.
But with the right plan and tools in place for your warehouse, you can deliver on these growing consumer demands with ease. The following are some of the most important factors to consider when priming your warehouse systems for the peak holiday season.
Gain Inventory Intelligence
First and foremost, do you have a handle on how much inventory you’ll need? Remember, your goal during the holidays is to fill stockings, not be left out of stock. According to IHL Group, out-of-stocks cost retailers $129.5 billion annually.
Now is the time to evaluate the hot-selling SKUs and look at order projections to ensure you have enough of those best-selling items available for holiday shoppers – without over buying.
This is where cloud-based software for warehouse management comes in handy. It gives you real-time visibility into inventory levels, so you can plan and anticipate when replenishment is needed. It’s beneficial from a warehouse space utilization perspective as well. An…