Over the past few years, there have been a lot of significant changes in the supply chain, such as panic buying, supply shortages, and the most significant rise in inflation in history. These changes have substantially affected suppliers, wholesalers, and retailers’ inventory management. This can be solved by consolidating their stock with a third-party logistics provider and entrusting them with the logistics of distributing their goods across all of their sales channels.
This article will discuss the nature of inventory management and the advantages of working with a 3PL supplier to handle your inventory needs.
Trends in Inventory Management
Disruptions to supply chains brought on by the Covid–19 epidemic and geopolitical tensions have prompted nearly all companies to re-evaluate their inventory management strategies. Property inventory management has improved in all sectors to become more efficient and effective. Some of the most recent trends in inventory management include:
Internet of Things for Complete Connectivity
IoT integrates cloud computing across sites. Nearly any commercial device can connect to the internet and serve as part of a LAN. Scanners, loading docks, machinery, and items can join IoT networks. IoT is a promising stock management development.
Warehouse Automation for Labor Reduction
Reduced labor costs are a direct result of increased warehouse automation. The cost of maintaining a robot is typically lower than the cost of paying a human worker.
Advantages of Using a 3PL Inventory Management
Instant inventory visibility
Using a third-party logistics business to manage your stock gives you access to real-time inventory data from anywhere. Inventory management software offers client reporting, login security, and shipment warnings. Being able to check inventory levels 24/7 simplifies handling orders and preventing stockouts.
Offers Scalability of operations that is quick and easy
Most 3PL solutions are pay-as-you-go, allowing your company to grow without hefty initial fees. You’ll also be able to bill all transactions and accommodate seasonal demand accurately.
Expanded system of distribution
Expanding is difficult even if you can run a warehouse in your city. A 3PL inventory management organization with national and international connections is helpful.
Improve customer satisfaction
As a result of using a 3PL, your services, response time, delivery, and customers’ confidence in your brand will all increase. Satisfied customers are the backbone of any firm.
Tips to Finding a Better 3PL that Supports Your Inventory Operations
Find a 3PL that is expanding rapidly
Third-party logistics companies are expanding their operations from time to time to accommodate various needs. For example, Global Logistic Solutions has expanded its warehousing footprint by opening sizable warehouse facilities to meet its customers’ rising inventory and distribution demands.
Try to choose a 3PL that offers comprehensive services
Many 3PLs offer storage, shipping, and drayage, but few offer an all-in-one package. Global Logistic Solutions’ streamlined approach gives you a single point of contact for visibility, billing, etc., across your entire supply chain. With this coordinated strategy, your 3PL may use its influence to help get your products wherever they need to go.
Safety and security
How a 3PL handles safety issues indicates its overall quality of service. Partnering with a 3PL that is up-to-date on the latest efforts is essential for staying compliant with the industry’s ever-evolving safety laws.
A 3PL offers you various benefits to enhance your inventory management. With the proper 3PL partners, you’re assured of advanced inventory management systems that fulfill your goals. Global Logistic Solutions is committed to helping you reach your intended objectives. Contact us now and find the help you need.