+1 800 967-0030

Supply Chain, Inventory Management for Smaller Businesses

Misplacing your keys is irritating, but when you’re a small business and you have no idea where your inventory is or how much you have, it can become a serious problem.

Inventory management should be a high priority, but according to a recent report, 21 percent of small businesses are still using spreadsheets to manage their inventory, 15 percent rely on accounting programs, 14 percent are clinging to manual inventory control and a whopping eight percent don’t even bother.

If you’re in this huge majority that’s still shunning modern inventory management software from your 3PL, it may be time to take another look at what these tools can do for you and your company.

Saving Time, Saving Money

Investing in inventory management tools can require a bit of upfront expense, but in the long run you’ll find that you save a significant amount of time and money, while preventing losses and customer-angering backorders.

These are just a few of the benefits of implementing a software-driven supply chain and inventory management system in your warehouse:

  • More efficient package handling. A good inventory system also means good data and analytics on your warehouse. You not only know how many items you have, but where they’re located and if you dig a little deeper, you can learn how they’re sold.If you often send two products out together, for example, you might find that moving them to bins that are side-by-side will save pick time that really adds up!
  • Leaner distribution warehouses. There’s a delicate balance to be struck in any warehouse. If you have too much inventory it ends up taking up a lot of space and preventing you from bringing in other products that might be selling better. On the other hand, not having enough means back orders and customers who may defect because they don’t want to wait. Lean warehousing is all about predicting exactly how much inventory is ideal, and with a good inventory package, you’ll be able to stay lean and mean.
  • More information all the time. It could be argued that the entire world is sinking in a sea of data, but when it comes to your inventory and supply chain, more is definitely more.Having information on where packages are and when they’re due to arrive, whether that’s at your location or your customer’s, is vital to moving those items as quickly as possible. Fast shipping is important to today’s shoppers, but they can be kept happy with a customer web portal where they can track their shipments.

Just because you’re a smaller eCommerce business doesn’t mean you can’t benefit from a good inventory management system. If you’ve grown to the point that you feel like you need help in this area, partnering with a 3rd party logistics company can get you the tools you need, as well as the highly-trained professionals who already know how to use them.

December 27, 2017
Share This:

Related Posts

RECENT POSTS

Why ShipWizard Is the Fulfillment Partner Your Business Deserves

If you operate an e-commerce business, finding the right third-party logistics (3PL) partner can make or break your success. Welcome to ShipWizard—where we turn the chaos of order fulfillment into smooth sailing for your business! If you’re searching for a 3PL partner...

Smart Strategies for Smooth Vitamin Fulfillment

Vitamin Order Fulfillment: A Prescription For Happy Customers The body needs 13 essential vitamins to function properly, and yet 90% of Americans are vitamin deficient. If your online store sells vitamins, this spells out a significant market. According to a recent...

5 Clothing Fulfillment Challenges and How ShipWizard Solves Them

Are you ready to dress your e-commerce business for success, your brand for your runway? Clothing is one of the most popular e-commerce categories. The online share of total retail sales of apparel and footwear in the US was 34.4% in 2021 - that means 34.4% of...

Hot Deals, Cool Shipping: Summer 2025 Fulfillment

Make Your Online Store Sizzle This Summer As the sun climbs higher and the days grow longer, summer 2025 is bringing a wave of must-have products that are flying off virtual shelves—and savvy sellers are turning to ShipWizard to keep up with the seasonal rush. From...