Category: Shipping
Smooth Stock Management
Managing inventory can be a real pain when a business is just getting off the ground. Sometimes, tracking and sourcing can continue to plague even seasoned sellers. From underestimating sales to forgetting to check inventory to dried out supplies, there are several things that can go wrong, leaving you out of stock and out of luck. Your business may be based on a stellar concept and have all the support it needs to thrive, but if you do not have an effective ordering system in place, you are going to find your profit gears all mucked up before you can get up high. Fortunately, we have all the technology today to help get that system in place and keep it running smoothly without too much fuss.
From start to finish, here are the basic areas that need to be kept under control for effective inventory management that facilitates the smooth flow of lucrative orders and happy customers.
Open Supply Options
It is always good to have a trusted supplier who has been able to provide you with the product you need when you need it. A good relationship with a supplier is gold. It is always better, though, to not get stuck with a single supplier who may at some point fail to come through for you. Cherish your best supplier, but maintain at least one or two others to whom you can run just in case things with your main man go south.
Balance Your Stock
Two main stock issues are overstocking and running out of stock. Balancing stocks very early on is essential to maximizing your potential for profit and business growth. After a business has experienced running short on stock, there is a tendency to go overboard and order too much the next time around. This can result in huge losses if the items are perishable, easily degrade over time, or might quickly become unpopular or outdated. Even if they can be kept long-term, however, you can still lose out because of increased warehousing costs and a lack of capital needed to purchase other stock items or new product to add to your inventory.
If you find yourself out of stock on certain items, it is important to take the time to immediately reevaluate. Do a quick investigation and note the reasons why this happened. The aim here is always to look for ways to improve, and not to beat yourself – or anyone else – up over the issue. It does not have to be a huge drama if you can act on it right away.
If the problem rests in not having enough financial resources to reorder, consider working out a deal with your long-term supplier, or even a new one. Either way, they will probably be willing to cut you some slack. Once the pressing issue is resolved, don’t forget to trace your steps so it doesn’t happen again. Rethink and rework your sales so you can avoid overstocking slow-moving items and be able to better fund your best sellers.
If the issue is the result of an increase in demand, figure out whether you were unaware because of a failure in your tracking system or because it happened suddenly. If the former, rectify the supply issue then sit down with your team to make adjustments to better keep an eye on things. Communication is essential to the smooth flow from supplier to warehouse to sales to shipping.
If your problem stems from inaccurate estimates for peak seasons or a lack of research into buying habits, you will find your backup suppliers very handy. Peak season will often mean that supplies are running low because your competition has stocked up. If you are not able to make late orders for additional stock, you may have to accept the lost opportunity. You can take this time, however, to do a thorough analysis of your individual products, how they have moved in the past – not only from your experience but as you can observe from other sellers – and which ones are likely to be in high demand during different times of the year. This way, you can also plan to distribute your capital accordingly so that you don’t miss out on holiday fever again.
Leverage Technology
Many problems with managing inventory stem from an inadequate system. Tracking is really the bulk of the work when it comes to maintaining proper stock levels. Once you get the supply, warehousing and logistics worked out, you will need to track at a high level to make sure that none of these links break down. Remember that a break anywhere along the line will often mean that business is going to stall.
Several professional software and online systems exist that can help you keep accurate records and automate many of the processes involved in managing stock. Using specially designed software instead of manual counts and spreadsheets can greatly reduce errors in receipts, fulfillment, and stock damage that can throw a big monkey wrench into everything. It is a great help for bookkeeping as well, since you can easily export and send monthly reports to your accountant. Backups are very important, and you can easily schedule them for security or download them manually anytime you need them.
This kind of system is also designed for multiple users so that you can reduce the number of problems caused by people getting out of sync. The system will furthermore keep you and everybody else concerned properly informed. For instance, even if someone still has the guts to steal from you with so many eyes on and such pristine records, you will notice it right away. It can take a while to move everything over to a new system, so prioritize you’re a item – usually 20% of the total – and your problem items, slowly adding a manageable volume at a time so things don’t get out of hand.
If you need help sorting out warehousing, shipping, logistics, labeling, or any other aspect of working the kinks out of your business, contact us today. Add to Cart Consultants can work with you to get your business running like a well-oiled machine so you can jet to the next level.
Benefits of Shipping by Air
Fairly young, at under a hundred years as a shipping method, air cargo has advanced rapidly to become a vital link in the global logistics chain. Flying your stocks in and out has definite advantages over other forms of shipment. There are a few disadvantages such as cost, but overall air cargo can be a boon for businesses. We are breaking down these benefits below so that you can get a better idea of what you can expect when using air freight. Some trial and error is to be expected when organizing shipping for the first time, but these tips should help ease the process quite a bit. Add to Cart helps arrange, ship, inspect, and get our clients affordable rates for air shipping samples or your entire order. Ask for a quote for your next air shipment needs.
Speed
Flying is undoubtedly the fastest method of transport available. If you need to get your items shipped out pronto, air cargo is your best option. With the speed of delivery, your opportunity for fulfilling a greater number of orders also increases. You will need to factor in all the airport checks and other requirements for air cargo and not just the flight time, but once you get the hang of it you will find that air freight is super fast, if you are willing to pay a premium for it, of course.
Safety
Flying is still the safest way to travel, and this applies to your precious cargo as well. First of all, the threat of shipment hijacking is greatly reduced for goods that are transported by air as compared to on the ground. Second, there are also no issues like detours and traffic which can increase your risk. Generally speaking, the more direct the route, the less you have to worry about something going wrong.
Air travel is highly regulated and points of entry and departure tightly secured. Your cargo benefits from this as theft and damage risks are reduced. Moreover, since the cargo goes straight from one point to the next without much turning to the left and right, there is less handling involved during transit, further reducing the risk of theft and damage. You can even comfortably accompany your cargo if you so desire when you ship it by air since some services are equipped to take on passengers.
Finally, air travel is less susceptible to bad weather. Airports will shut down under severe weather conditions, but you can be sure that conditions are worse on roadways and sea routes.
Convenience
Air travel is so highly regulated and dependent on accurate schedules that it can offer the most reliable arrival and departure times. Plus, as more and more people prefer air travel over land or sea travel, there are numerous flights available, sometimes one every hour. Such delays are not as common as you can expect on land or sea, so even if you do experience a cancelled flight, you can still be sure that your cargo will arrive faster than if you had opted for another shipping method.
The ability to track your cargo is an important factor in making sure that your inventory moves efficiently. Air cargo has the most efficient and convenient tracking system, sometimes even allowing you to log in to a website to see where your shipment is in real time. There is no more need to call companies and wait for them to call their drivers – if there is cell service and if they answer – and call you back with updates. And you will never have to endure the inefficiencies of the radio communications that seafarers rely on, or in some cases simply have no choice but to wait patiently for the ship to actually dock.
Borderless
Shipping by land is strictly limited to the extent and condition of roadway systems. Shipping by sea is less limited, but always ends where deep water meets land. Not every destination can support large cargo ships, further narrowing your options. There is also always a need to transfer cargo to a land vehicle to complete the journey. In some cases, this can mean a long trip inland, which equates to greater risks to your cargo.
Shipping by air is only limited to the number and location of open airports. Airports can be built almost anywhere on land, and as flying continues to grow in popularity, there are so many flight times and destinations to choose from. Even if a transfer to a land vehicle for the final leg of the journey is often required, the trip will be a short one. You can even do some sorting as you make this final transfer. When using land shipping to get your cargo from a ship to your city, for instance, you would normally either have a single drop off point or run the risk of damage to your items as they are driven around to different delivery stops along the way. Sorting your stocks bound for different warehouse locations at the airport either eliminates this sorting and redistribution step or reduces your risk.
Cost Balance
Air freight is the most costly of all shipment methods, but there are a few ways that you can save more when flying goods by air. First, since shipment times are much shorter by air, insurance premiums are also lower. Second, since you can time your shipments perfectly instead of allowing for week-long margins on sea cargo most especially, your warehousing costs will go down considerably when using air as your preferred method. Third, customs, inspection and handling processes for air cargo are much more efficient since it is a highly time-dependent industry. Fourth, since air freight poses the least amount of damage risk, you won’t need to waste time and spend extra money on heavy packaging to keep your items safe during transport.
As a final note, air freight is best for shipping a low volume of items that are of a high value, when you consider the costs involved. The safety of these types of items is a top priority, and paying more to ensure they arrive in good condition is a wise investment. If your shipments are either bulky or heavy, the higher costs of air freight might be insupportable. Air cargo charges go up both by space and weight, and you may also not be able to use air freight at all if regulations do not allow for the particular dimensions or weight of your cargo.
If you are looking for more information on how you can improve the way you ship and store your inventory, Add to Cart Consultants is available to assist you.
Be Location Independent with FBA
Running a profitable business and having freedom of movement are usually mutually exclusive. Any experienced business owner knows that there is always a choice to be made between being present and being successful. Thankfully, the connected world that we live in today affords us a way to avoid being tied down to a desk 24/7 or working a 9-5 job while retaining the ability to increase revenues.
The Fulfillment by Amazon (FBA) business model allows anyone to trade in the 9-5 hamster wheel for a business that can be managed from home, the beach, another country, or really anywhere you choose that has a decent internet connection, and flourish.
Take the Load Off
Running a business based on the sale of physical products takes a lot of time and effort. There are several stages involved – sourcing product, generating sales, fulfilling orders, providing customer support, and executing expansion plans – and each of these stages comprises a multitude of small and big tasks that will pull you in six different directions along with losing track of time.
Amazon has created a system that can take care of much of this for you, leaving you free to focus on what you want to sell so you can grow your business – and live virtually permanently on vacation. The Amazon fulfillment network has been continually developed for over two decades and is now recognized as the most advanced in the world. Amazon has the experience to expertly handle the logistics and provide the needed customer service.
With your products stored in Amazon’s fulfillment centers or Add to Cart’s warehouse, there is no need for you to build or maintain a vast warehouse system, which already saves you a lot in terms of time, money, and energy. From these centers, Amazon takes care of carefully packing and shipping your orders to Amazon Prime members. Add to Cart allows businesses to also offer fulfillment by merchant (FBM) to non-prime members for Amazon shoppers and open the door to other e-commerce platforms like eBay, Etsy, Jet, Walmart, etc. If any issues arise on the customer end, Amazon is there again to step up and help resolve any complaints. With the FBM orders Add to Cart handles, they can either help you with the customer service side or assist you with a dedicated virtual assistant to manage all of your customer service needs.
With FBA, you are not limited to the products that you sell on Amazon. You can use Amazon’s superior network to keep all your stock in one place and fulfill all the orders that you get from your website or other sales channels. In addition, you can leverage a user-friendly online interface to manage all your inventory and communicate to Amazon how you want it handled.
If you are not sure that you want to go this way, Add to Cart Consultants also provides an excellent alternative backed by a wealth of experience. If you want to have more control over your warehousing, logistics, labeling, and shipping, we can provide you with a customized solution that understands the concerns that are unique to your business and your customers. We also provide consulting services to help you more effectively manage and build your business.
By cutting out all the middle parts to your business responsibilities, you are left with ample resources to refocus on managing products and sales exclusively, which means that you can start to scale your business and broaden your target market.
FBA Perks
Once you get started with FBA, you are qualified for a number of additional benefits that can further reduce your business costs. For instance, Amazon Prime members can take advantage of Amazon Prime FREE Two-Day Shipping. The longer you use FBA, the greater your chances are of winning additional benefits, such as the Buy Box. This prime location for your Add to Cart button dramatically increases your visibility to customers. As you learn more about Amazon’s policies and show consistently high performance as a seller on criteria like pricing and feedback, you increase your chances of being awarded.
Registering for an Amazon.com seller account earns you the privilege of selling not only locally but also on Amazon.ca (Canada) and Amazon.com.mx (Mexico). By using FBA on these marketplaces as well, you can instantly increase your customer reach by as much as 200%.