If you’re thinking about replacing your inventory management system, a search will turn up literally hundreds of commercially available systems, including specialized ones that may not fit your multichannel business. Here are the top 6 features that you should be considering when upgrading your system, and what to look out for.
While the terms “machine learning” and “artificial intelligence” are often used interchangeably, the main takeaway is that these advanced technologies offer better ways to solve complex planning problems. More organizations are recognizing their benefits to improve inventory forecasting accuracy and optimize stock replenishment.
Retailers are struggling to create the kind of seamless omnichannel experience consumers crave. The fundamental challenge: They can’t predict and respond to changes in demand across channels. But technology now offers a cutting-edge solution: Blockchain. Here are some best practices shared at Ecommerce Operations Summit 2019.
Shipping and manifesting systems have used barcodes for a long time, but not to their full potential. In recent years adoption is increasing as businesses find they can dramatically increase control of their fulfillment center operations. Here are 11 ways barcode can provide greater operational efficiency, cost savings and a good ROI.
Compared to distribution or fulfillment centers, store inventory is often seen as the weakest link when it comes to SKU accuracy, with rates that can be as low as 65%. As omnichannel demand picks up, stores are playing a critical role in ecommerce order fulfillment. Here are some quick tips from an expert panel at Ecommerce Operations Summit.
Target reported ecommerce sales growth of 42% in the first quarter, with positive guest response to same-day digital fulfillment services. The quarter marked Target’s eighth consecutive quarter of comparable sales increases. CEO Brian Cornell said the retailer’s comparable sales growth of 4.8% was a bit ahead of expectations.
Drop shipping is seen as beneficial by nearly all retailers and manufacturers who take part in it, the former from an expanded SKU assortment without inventory carrying costs and both parties from increased sales, according to a new survey from Lehigh University and DiCentral. Eighty-seven percent of respondents said it boosted sales.
Some ecommerce companies have gained tremendous benefits from third-party fulfillment partners. But once you contract with a 3PL you must develop a well thought out plan, coordinating with your departments and the partner as well as merchandise vendors, carriers and IT. Here are 20 critical tasks to ensure a smooth transition.
Many retailers continue to use legacy payment systems and outdated technology because they are hesitant to take on the unknowns of a new payment platform. However, outdated payment systems actually negatively impact your business’s bottom line. Here is why it is important to leave legacy systems behind.
In-kind giving is ideal for offloading overstocks, obsolete merchandise, discontinued products and returns. Even though unwanted inventory no longer benefits your business, it can still be very useful to those in need, and there are ways to optimize your donations. See how you can do well by doing good with your unwanted stock.