What Is Omnichannel Fulfillment?
Most businesses selling products today have figured out that selling products on their own website just doesn’t quite cut it. In order to succeed, companies need to partner with retailers if they want to get their products into people’s hands. However, this takes a lot of extra work taking time away from operating and growing the business.
Implementing an effective omnichannel fulfillment strategy is without question the best way to ensure that your products make their way to the most people.
Working with a third-party logistics (3PL) company that specializes in omnichannel fulfillment allows businesses to delegate any tasks associated with product packaging, fulfilling, shipping, warehousing, and retailer compliance. Keep reading to learn more about the ways in which comprehensive omnichannel fulfillment services can benefit your business.
3 Benefits of Omnichannel Fulfillment
Omnichannel fulfillment can benefit your business in several ways, including the following.
1. Reduced Inventory Costs
As eCommerce sales have exploded, this presents massive business opportunities for companies. However, with more ways to purchase and more retailers to choose from comes more pressure to properly manage inventory to fulfill all of the different sales channels products are sold on.
One of omnichannel fulfillment’s roles is to help businesses manage and reduce inventory costs by saving on the cost of warehousing and using a single consolidated inventory to ship to various retailers, distributors, and direct to consumers. Utilizing a single consolidated inventory is even more cost-effective for companies selling products with expiration dates.
2. Higher Order Efficiency and Accuracy
When you streamline multiple channels into a single, cohesive process, fulfillment becomes easier and more efficient, which often decreases labor and space costs. Through omnichannel fulfillment, you will achieve greater efficiencies and reduce issues that cost your company time and money.
3. Benefit from Retail Partnerships
Offering your products on the store shelves of a big box retailer, or even on their website as a retail drop ship, can be a great way to gain exposure for your new brand or product. Partnering with retailers to offer your products in their stores and on their websites is a great way to grow your business, but that opportunity presents challenges that can cost your business if not executed correctly.
Retail chargebacks for non-compliance to large and ever-changing retail compliance requirements can add up. By utilizing a 3PL who specializes in omni-channel fulfillment, your business can save on costly chargebacks and benefit from an improved relationship with your new retail partner, ensuring you’re able to offer your products for sale on their website and/or in their stores in the future.
Get the Omnichannel Fulfillment Support You Need
Savvy businesses are optimizing their processes to incorporate omnichannel fulfillment strategies to effectively accommodate the demands of working and complying with retailers and cater to customers who want products delivered to their doors. To help you stay ahead of the competition and sell the most products, you need an omnichannel 3PL company you can trust.
Choosing to handle your own fulfillment can put your business at a disadvantage. For example, penalties called chargebacks can be imposed by retailers for various violations, and these chargebacks can add up quickly. Working with an experienced 3PL company will ensure you avoid these costly errors.
M&M Quality Solutions offers stress-free omnichannel fulfillment services that allow you to focus on marketing and innovating and leave the logistics to the experts. Contact us today to learn more about how our value-added services can help your business improve its overall results!