Reasons Why Warehousing Is The Best Way To Store Your Inventory
When a customer places an order, their journey does not end. A warehouse allows you to better control your inventory and ensures that customers receive their products on time, resulting in higher profits.
Warehousing is an excellent resource for assisting with inventory management in your business. There are numerous advantages to using this service; keep reading to find out how this can help your business.
Better inventory management
Approximately 8% of small businesses do not track inventory. Approximately 24% have no inventory at all. This frequently results in late shipments, delayed order processing, and a negative customer experience.
Warehouses keep your goods in one location, making it easier to track and manage your inventory. You will store, ship, and distribute products more efficiently if you invest in a warehouse. If something is out of stock, you’ll know right away and offer customers alternatives instead of keeping them waiting for days or weeks.
More efficient packaging and processing
Most warehouses supply the equipment and supplies required to store, move, package, and process customer orders. To name a few, pallet racks, loading docks, and packing materials. This way, you’ll have everything in one location, saving you time and money.
A warehouse allows businesses to pack and grade their products in accordance with legal requirements and customer preferences. Logistics costs are reduced while flexibility is increased. This type of facility is an excellent distribution location because it eliminates the need to arrange for pickup and hire employees to manage fulfilment
Better customer service.
More than 63% of online customers expect to be informed of the estimated or guaranteed delivery time. Approximately 88 percent of respondents would be willing to pay more for faster delivery. In fact, delivery speed is one of the first factors buyers consider when placing orders on ecommerce stores.
You want to keep your customers satisfied and engaged as a business owner. Your reputation will suffer if you fail to deliver their orders on time. This can harm both your revenue and your brand’s image.
Warehousing enables on-time delivery and optimized distribution, resulting in higher labor productivity and customer satisfaction. It also aids in the reduction of errors and damage during the order fulfillment process. Furthermore, it prevents your goods from being lost or stolen during transit.
Ensures steady prices of products
Customers’ income, government policies, employment rates, climatic conditions, and other factors all influence demand for goods and services from month to month and year to year. A warehouse allows you to store your products for a later date when the demand is high. This contributes to price stability and reduces revenue losses.
Assume your company manufactures and distributes Christmas gifts. If you sell Christmas trees, you can keep them in your warehouse instead of selling them for next to nothing when the holiday season is over. This way, you can keep stock levels consistent while increasing profits.
Better and improved risk management
Warehousing not only protects against price fluctuations, but it also ensures the safe storage of perishable goods. You can lease a warehouse equipped with refrigerators, freezers, and optimal temperature control based on your needs and type of business.
Plants, artwork, candles, food, and medications are just a few examples of items that need to be kept cold. A warehouse that provides this service will keep your goods at the proper temperature, preventing spoilage and color and texture changes. This also helps to extend the shelf life of the product and ensures customer satisfaction.
Furthermore, products stored in warehouses are typically insured. This means you have a better chance of receiving compensation from your insurance company in the event of damage, fire, or theft.
Contact Kwik to help you manage your warehousing and inventory
Allow us to be your storage, inventory management, and delivery partner! We are experts at trucking, delivery, inventory management and logistics. Call us at 013438198 or send us an email for more information.