In recent years, eCommerce has grown to be a vital component of global retail. This trend, which has been going on for the past few years, is influenced by a growing global economy, ushering in numerous business opportunities. By 2023, the global eCommerce market is projected to reach a value of USD 6.3 trillion. Over the following years, this number is anticipated to increase, indicating that online retailers are starting to find borderless eCommerce to be a lucrative alternative. However, a challenge persists in inventory storage, particularly for delicate products requiring a secure and cos ..read more

The COVID-19 pandemic has changed the approach of business in managing operations, inventory management, sales, marketing and more. Inventory management saw sea changes due to the global lockdown. In a survey where businesses were asked to state their inventory management strategy, 27% chose to keep inventory levels the same as pre-Covid days but change their supply chain network. As many as 19.6% of businesses wanted to overhaul the inventory system and have ample stock even in the most difficult scenarios. Another 19.2% of the businesses chose to keep inventory levels the same and not make c ..read more

There are a lot of steps and processes that go into the logistics operations. Managing them all and ensuring that work goes smoothly until the orders are fulfilled is a tremendous undertaking. From ordering, stocking, and tracking inventory to processing orders, picking, packing, and delivering them, all are part of the mighty logistics operations.  Logistics management is an ongoing process that requires continuous optimisation to save on costs and ensure that all consumer expectations are met. Without efficient and timely management, growing your business can be almost impossible.  ..read more

Physical inventory refers to all the goods you have in stock in your shop, warehouses, or any other place you store them. It is important to keep the physical inventory organised and maintained to ensure a smooth dispatch. It has been observed that those who invest time and effort in managing their physical inventory efficiently stay in better control of their business. Research reveals that overstocking as well as understocking can lead to financial loss. Conversely, ensuring the availability of the right amount of physical inventory can reduce the inventory cost by 10%. In this article, you ..read more

A change in market trends brings along new needs, requirements, and strategies for business models to adapt to the market. Most of you might be well aware of the rising online-buying metrics in recent years, especially during and after the COVID era. Since eCommerce has found a sweet spot in people’s lives, their shopping behaviour changed drastically. They’ve become more inclined towards online purchases. It’s no surprise that Global eCommerce sales reached USD 5.2 trillion in 2021, and experts predict this figure could increase to USD 8.1 trillion by 2026. This means a whopping 56 ..read more

The movement of products and services from the site of production to the site of consumption is referred to as logistics. While logistics and intralogistics are related, the latter is a considerably larger term.  Handling the complex order fulfillment operations on such a large scale would be extremely difficult without adequate procedures. Order fulfillment, order processing, and warehouse welcoming are just a few of the many duties that necessitate teamwork. Any interruptions in these procedures might result in lost inventory, higher expenses, and order delays. Intralogistics is organis ..read more

Products travel through a vast, interconnected process called the supply chain before they are prepared for sale. Distributors, production lines, and raw materials are all involved in this process. Supply chains have been around for a while, but businesses are just now focusing more on them to streamline their processes. It’s necessary to organise your inflow and outflow processes to increase productivity and save costs. 79% of businesses with effective supply chains see revenue growth that is higher than average for their sector. Companies with well-managed supply networks have 3 times quicke ..read more

Seasonal products are always in high demand during the holidays, like Diwali or Christmas. From lights and candles to mistletoe, the demand is never low. Even occasional products like goods relevant to a specific cricket match are in extreme demand during the event.  Stocking and having just enough of these seasonal items can be daunting for retailers. As these items are only popular for a short duration, retailers must ensure sufficient stock to meet the demand. As this balance is very delicate, inventory management is crucial. Data from past sales and trends certainly helps at times lik ..read more

eCommerce businesses must ensure their consumers receive their desired products promptly. The task can be challenging, especially for businesses that receive multiple orders in a day. However, order processing must be done with precision to ensure accuracy. Each step in the order fulfillment process must be handled systematically to ensure eCommerce success. Research reveals that 69% of consumers are likely to stop shopping from an eCommerce store that fails to deliver their products timely. Among other things, picklists play a pivotal role in ensuring the successful delivery of goods to the ..read more

The efficient functioning of global supply chains is dependent on several factors. An important cog in the complex movement of goods is the warehouse. Carriers procure merchandise from manufacturers or distributors from warehouses. These commercial storage and loading spaces for finished and semi-finished goods are critical to the smooth operations of the complex supply chain. The warehouse market size, worldwide in 2021 was at USD 263458.0 million. It is projected to expand at a CAGR of 7.23% to reach 400541.0 million by 2027. In India, the warehouse market is expected to receive over 10 bill ..read more