Is your warehouse prepared for the influx of inventory, shipments, and returns that the holiday season brings? The average retailer increases its inventory by three or fourfold for the holidays. Better inventory management can translate to more sales and revenue, but it also means more stress on the logistics and fulfilment process. Is your business ready for the holiday season? Find out now.
Planning for Increase in Demand
As the wise words of Benjamin Franklin go – when you fail to plan, you are planning to fail. In order to meet the increase in demand during the holiday season, you will have to be able to predict the sales during the festive season accurately. One great way to do this would be to refer to sales numbers from past years to optimise your warehouse supplies ahead of time.
Not only will accurate forecasting reduce the event of supply shortages or products going out of stock, it will also enhance customer satisfaction rates when orders are fulfilled.
Optimising Warehouse Workflow
A good workflow in the warehouse is the key to any successful supply chain. It will keep your employees on top of their workload, and help your company fulfil orders more efficiently, even during peak seasons. The more streamlined the process, the less necessary it becomes to spend extra time on tasks that can be done quickly.
To optimise your order fulfilment process, you will have to establish a smooth workflow within the warehouse first. This can be done by tracking your inventory levels and tracing upcoming shipments for each product. With this information updated in real-time on your system, you will be able to plan and allocate space within the warehouse for new shipments ahead of time. For a more efficient order-to-ship process, you can place popular products in a more accessible location within the warehouse to facilitate packing and shipping during busy periods.
Streamlining Inventory Management Process
As a business owner, you want to make sure that you are maximising your profits and minimising any loss, especially during the busy holiday season. One of the most important elements in this process is making sure that you have efficient methods in place for inventory management, to allow products to be shipped out as quickly as possible.
Efficient inventory operations definitely cannot do without real-time supply chain visibility. With real-time supply chain visibility, warehouse managers will be able to track inventory levels in real-time and be alerted if any product has to be replenished before it goes out of stock. Stock levels will also have to match the inventory for packaging materials in order to prevent any downtime. By streamlining the inventory management processes, it is definitely possible for your business to reduce storage fees and increase overall productivity during the holiday season.
Get Your Business Ready for Holiday Sales with Microsoft Dynamic 365 Business Central
With the holiday season fast approaching, it is imperative that you have your warehouse processes locked down. If you’re not using technology to manage your inventory and shipping orders, now is the time to start.
The fastest method to streamline your business operations and create an efficient workflow within your warehouse would be to make use of the technology that Enterprise Resource Planning (ERP) systems offer.
With the use of ERPs such as Microsoft Dynamic 365 Business Central, business owners can streamline their inventory and shipping processes easily. Software applications within Microsoft Business Central 365 can help to manage all aspects of a company’s operations from receiving an order through processing, storing, picking and packing for shipment. This not only saves time but also provides accuracy in inventory levels and shipping costs.
Discover how Microsoft Dynamic 365 Business Central can help your business scale greater heights at Naviworld now.