Follow These Tips & Keep Your Worries Away This Festive Season!
Republic Day is almost there, with the internet going crazy with deals and offers. We all know it comes as a huge revenue benefit for most of the businesses, but what we ignore is the shipping planning.
Many businesses are often tied to a specific festive season. For example, if you are someone who sells Halloween costumes then October is the time when you receive a massive demand for costumes. Similarly, if you are the vendor who sells decorative lights, Diwali and Christmas are the peak time when you experience massive demand for your goods. Likewise, many businesses are connected to specific festive seasons and it is important to know how to handle the demand fluctuations and maintain supply chain consistently. Predicting the kind of demand during the festive season is near to impossible but you can always be ready this festive season.
Here are some tips listed below in the article that might help you maintain the regular supply of your products even during the festive rush.
Have your calculation ready at hand
Though it is really is impossible to speculate the kind of demand, a lot of factors depend on it- geopolitical reasons, delivery issues, the competition you face. But the prime key to managing and be ready to ready in the holiday rush is predicting the kind of quantity the retailer might be needing and in what locations will they be needing. Though the calculation is tough and tiresome and the answer is depended on so many variable constants elucidated above. And these variable are a constant hindrance to getting your solution right. But a clear study of the detailed record of the past sale and analysis of the recent trends will sure come in handy.
Scaling up the logistics
According to a National retail Federation survey 2015, it is calculated that each person is to spend a minimum of 805 dollars (approximately 40,000 INR. Also that half this shopping is to be done online.
And also maintenance of logistics is a quite an expensive task, so you what you can do is,
1. Ditch your mixed order strategy
2. Reconsider your location
3. Offer a ‘buy the online pick in store’.
Keep a close check on your stock
The secret to a perfect holiday season delivery is to maintain stock levels relevant for to achieve this. And while the insufficient stock is the most common problem the sellers face. Sometimes an oversized inventory is something that is far worse. Right products in the right numbers. The calculation is daunting but there are some thing you can keep in mind while doing these.
1. Setting a minimum stock level and review.
2. Consider the option of drop shipping
3. Practice the habit of First in/First out for fast moving consumer goods.
Manage the space as well as supply
Your relationship with your whole sellers and suppliers are put to test during the fast pacing festive season. Having arrangements made for air cargo for importing logistics so that production and supply are not delayed. Managing both supply and adequate space is quite a multi-task but again there are the thing to keep in mind for that too.
1. Let go of some slow moving stock
2. Try and forecast the delivery time of items from your suppliers
3. Organize a flash sale for slow moving items.
4. Consider and recognize options like holiday handling
Monitor fulfillment center and warehouse statistics
A detailed monitoring of fulfillment centers and warehouses can help you as the owner measure and gauge out how actually your software, personnel and processing teams are working. These numbers and reports can help brands reformulate their strategies and plan their marketing techniques accordingly. And more so during the rush season. Learn how to
1. Predict and speculate and effective plan for the festive season.
2. Deliver the best customer experience
3. Team up with an ideal distribution partner that guarantee the smooth operations during rush season.
Although these are tips you must keep in mind but never forget to incorporate
1. Complicated calculations
2. Production related issues
3. Last minute peaks
ShipRocket is India’s first automated shipping software that aims reduce eCommerce shipping to its bare bones. We have taken a step forward in simplifying eCommerce for Indian merchants and saving their precious time and money.