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Six Reasons Why Warehouse Inventory Management is the New Logistical Fad

Are you struggling to keep up with the evolving customer demands?

Are you finding it hard to get out of the vicious cycle involving distribution centers and supply chain management?

If these questions are continuing to bother you as an entrepreneur, it’s high time to look closely at the concerned warehouse— the connecting link between supply chain and customer demands. Needless to say, logistics optimization is an inseparable part of any entrepreneurial crusade. Therefore, warehouse management is one strategy that can help organizations improve upon the existing logistical framework sans major enhancements. Once the warehouse inventory management is out of the way, it gets easier for the businesses to maintain better product flow and higher levels of customer satisfaction.

Warehouse Management: Associated Metrics

I have always been quite skeptical regarding my warehousing objectives. Based on experience, I would suggest companies to involve inventory management strategies as an integral part of the optimization technique. The major objectives behind Warehouse Management must involve improved order fulfillment, enhanced productivity, minimized error rates, amplified operational efficiency and extremely low inventory holding rates.

Categorizing the Inventory: Basic Models

Inventory management forms the crux of a warehousing model regardless of its size and structure. When it comes to restructuring an inventory, enterprises need to inculcate aspects regarding categorization, definition and even forecasting. Last but not the least inventory management involves efficient usage of analytics, helping companies with layout reconfiguration and a host of other functional additions.

Moreover, when an inventory keeps the order picking loopholes at bay, it becomes extremely easy for the enterprises to enhance the turnover ratio, plan locations for quicker remittance and even improve upon wave picking and cross-docking techniques.

Warehouse Management Ideas: How it actually Works?

At the end, it all comes down to how a warehouse is managed, in order to strike the perfect balance between demand and supply. However, the underlining concepts still include assessments and implementation— albeit on a larger scale.

  1. Organizing the Warehouse

The storage locations have to be marked depending upon the type of product. In simpler words, fast-moving entities should be kept at accessible locations. When it comes to strategizing the organization of a warehouse, enterprises should prioritize pick & pack, order fulfillment and even ease of distribution.

  1. Performing Cycle Counts

There are companies which rely on year-end head counts for their products. For efficient warehouse management, the approach should commence in cycles with counts performed on a regular basis. Periodic intervals might also be selected depending upon the entrepreneurial preferences.

  1. Implementing Barcoding Tech

Tracking inventory details using pen and paper is obsolete and demanding at the same time. Instead, proper warehouse management must make use of barcoding technology that not only improves overall efficiency but also minimizes the paper-centric costs. Moreover, any manual approach is prone to imperfections and therefore it is advisable to add a hint of technology into the scheme of things.

  1. Tracking Inventory Cycles

Basically, every marketing move— including sales and logistics— involves data monitoring and inventory tracking. There has to be a software module that takes care of the minute warehouse details— starting from storage to inventory. This approach also assists enterprises when it comes to tracking the inventory levels and minimizing human errors.

  1. Creating Cordial Relationships with Suppliers

There has to be a cordial and harmonious relationship between suppliers and the concerned enterprise. There have been instances when mutual respect and amicability led to reduced inventory costs and credit-based supplies. Moreover, companies with e-fulfillment centers should always look to be in the good books of suppliers— precisely for getting hold of quick orders, decent distribution schemas and anything that simplifies warehouse management.

  1. Training Workers

Last but not the least, companies with logistical headaches must skillfully train their employees— especially in warehouse management practices. Apart from that, enterprises must impart knowledge regarding the inventory management policies and practices which are bound to change, intermittently. With expertise on-board, the warehouse management system is expected to flourish further.

Warehouse management is all about the accuracy and keeping a track of the concerned inventory. If done right, an efficient management system can readily improve the organizational cash flow followed by reduced costs, improved customer satisfaction and even enhanced efficiency— all at the same time.

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The Packaging Face-Off: Secure Packages vs. Easy-to-Open Packages

An industrial supply chain framework depends heavily on the logistical factors with packaging being the most vital criterion to look at. There are times when companies spend way too much on marketing and branding thereby ignoring product packaging. Moreover, the type of packaging is also important— depending upon the product type, sales funnel and a host of other industrial metrics.

 

In the subsequent sections, we shall look at the differences between secure packaging and easy-to-open packaging— segregating the requirements of each. We would also analyze which type of industrial packaging is best suited for the companies— depending upon the concerned products.

 

Why to Make the Choice?

 

Before we go any further into this post, it is important to take a look at both the packaging options.

 

Easy-to-open packaging is mostly seen in grocery shops where the products can be carried out instantly. This type of packaging involves lesser materials and is pretty light when the dimensions and weights are considered. Easy-to-open actually targets products that aren’t fragile and susceptible to threats. Moreover, this kind of packaging is often provided sans additional charges from the company.

 

Secure packaging is an intricate form of product management where the essentials are camouflaged by functional layers. This is one form of packaging that is primarily used by ecommerce stores— where products need to be supplied across diverse channels. Fragile goods, confidential stuffs, electronic gadgets and a host of other supplies usually resort to secure packaging services.

 

Determining the Sales Channel

 

While we have loosely described the differences between secure and easy-to-open packaging, there are still myriad aspects to look at before industries can actually take a call regarding which pathway to tread on. The first aspect happens to be the sales channel analysis— involving the nooks and crannies of the existing sales funnel.

 

It needs to be understood that packaging essentials vary according to the industrial regulations and existing standards. Moreover, the packaging team actually focuses on the storage space and shipping features pertaining to the concerned sales channel. While the design choices are important, it all pans down to the type of industrial packaging for a particular set of products.

 

Materials Involved

 

It goes without saying that the packaging format for glassware would definitely vary from that of stationaries. Therefore, the product material is also instrumental in determining the nature of packaging. Industries offering fragile objects usually opt for secure packaging while the ones with sustainable entities prefer easy-to-open packaging formats.

 

Associated Graphics

 

Marketability is something that cannot be ignored when it comes to deciding the packaging format. Graphics, textures and fonts determine the type of product labeling and even the packaging layout. Moreover, the type of packaging is also determined by the layout of the existing camouflage. Companies that spend way too much on the label and package design wouldn’t usually opt for easy-to-open approach as it would then defeat the entire purpose of marketability.

 

Products with a decent shelf life and longer travel itineraries should have exquisite design formats when it comes to packaging. The idea here is to allow customers get a good look at the package which can either be a chipboard entity or a high-end rigid box.

 

Structural Attributes

 

The type of packaging depends on the shelf space, product durability, size, environmental considerations and even the carriage safety. Usually, secure packages take a close note of the concealed product— analyzing the design aesthetics and even the structural attributes.

 

Most importantly, the existing packaging design should be able to protect the product while making it visually appealing at the same time. This theory holds true even for the easy-to-open packages as the dimensions are dependent on the product attributes and physical considerations.

 

Packaging Costs vs. Product Costs

 

Needless to say, a company wouldn’t invest as much on the packaging when compared to the product costs. Industries usually have a sales margin in mind and the packaging costs will surely depend on the presumed profits. Moreover, easy shipping guidelines cost a lot less as compared to the intricacies of customs. This is why most firms opt for easy-to-open packages as they can be managed without hassles.

 

Bottom-Line

 

Whatever be the type of packaging, at the end it all depends on the customer preferences. The idea should be to offer safety to the concerned consumer products without pushing the envelope. Companies must be proactive while designing and selecting the packaging format. While a customer might want an easy-to-open package for his or her journal, the same person might prefer a secure package for a supplement.

 

It actually boils down to the requirements of consumers and companies must keep delivering— every single time.

 

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Impact of social media on 3PL industry

The logistics industry has already been massively impacted by myriad technological advancements. As the innovative measures and technical aspects continue to prosper, the opportunities surrounding supply and demand have also amplified in the best possible manner. While the customers are cognizant of the processing requirements and available options, the suppliers are finding it easier to address user queries, concerns and even opinions. Social media platforms are instrumental in driving sales as the social profiles, insights and any relatable information can now procured with considerable ease.

Why Social Media is an Important Determinant?

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Looking closely at the 3PL industry we can infer that consumers are still optimistic regarding traditional marketing approaches and corporate relationships. Moreover, direct customers and retail-specific companies have already leveraged the power and functionality of social media; thereby enhancing the overall presence of 3rd party fulfillment services. In simpler words, organizations are readily partnering with 3PL service providers for keeping up with their logistical requirements. That said, every aspect of an outsourced service— including 3PL— is readily influenced by the social presence of the concerned customers. Based on a study conducted by Go-Gulf, almost 74 percent of the existing customer base researched the social media before moving any further with the purchases. Apart from that, around 89 percent of organizations have also been using social platforms for amplifying their presence. Overall, every individual within the demand-supply hierarchy is embracing social media and its high time organizations start using the same with immediate effect.

Social Media Impact: A Step-Pronged Approach

Regardless of the business type, Social media analysis is an approach that increases sales and assists companies with customer retention. Therefore, understanding the segregation of client data is probably the first step towards harnessing the power of social media. Enterprises must be quick to identify the best platform for a particular cause and work towards offering content over the same. Based on diverse aspects and results, it can be inferred that social presence is arguably the most efficient tool for connecting brands to the expansive audience base via relevant content.

The 3PL industry is surely one of the more progressive service providers thriving on selective content creation. According to a study conducted by Forbes, almost 78 percent of purchases are actually influenced by the active social media posts. In addition to that, third-party logistics is certainly an industry that requires a constant influx of innovative ideas. Therefore, unhindered social presence is surely a relatable metric.

While content can easily drive in exposure and brand equity, social media activity is instrumental when it comes to creating dialogues with clients and prospective customers. The 3PL industry requires constant interaction with customers and therefore it is advisable to work alongside LinkedIn and Twitter for gathering responses and answering queries. This approach, concerning social platforms, works both ways as customers can also get an idea of services, in the form of online reviews. Apart from that, consumer feedback can also be gathered across myriad social platforms— including the likes of Facebook, Google and many more. Third party logistics seamlessly connect the demand and supply chains and therefore it is important that service providers take it upon themselves for answering queries and related questions related to warehousing, order fulfillment and what not. An extensive study conducted by PeopleClaim suggests that websites and companies that have reviews and ratings validating their presence are 63 percent more likely to generate sales. In addition to that, almost 74 percent of sales amplification can be generated via service conversions provided there are positive online reviews to look at. At the end, it all comes down to leveraging an educated and engaged audience base for driving conversions within an entrepreneurial hierarchy. 3PL industry and related service providers have a host of e-fulfillment centers to take care of and having an online presence surely enhances the operations and overall image of the concerned organization.

Bottom-Line

As technological advancements galore, customers are now selectively choosing the preferred 3PL service provider by taking several things in consideration. However, majority of these determinants involve social media activities and the overall presence. Logistical considerations can either make or break a supply chain management system and it is exceedingly important to value the third-party service providers— depending upon the online credibility.

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The Concept of Eco-Friendly Packaging: Practices and Benefits

Industrial activities pertaining to the modern era are becoming environmentally conscious and there is an increased awareness regarding the upcoming eco-friendly trends. While increased knowledge readily paves way for environmental empathy, the significance of adding eco-friendly measures are way beyond the existing concepts of brand sustainability. Having these trends in place can readily improve the industrial credibility of a concerned organization while rendering illumination to the same.

 

The Purpose of Packaging Design

 

Before we even start discussing about the eco-friendliness of the concerned designs, it is important to analyze the purpose of the same. Labeling happens to be one vital industrial aspect— holding a lot of significance when supply chain management is concerned. Companies are now looking to put forth the exact information regarding the product without beating around the bush with unnecessary inputs. Moreover, a customer prefers when a label reveals substantial information about the product without keeping things in the dark.

 

For example, individuals would like if the nutritional facts and calorie count of the supplement is mentioned on the label which then allows them to take a call regarding the functionality of the same. In simpler words, the modern day marketing crusades thrive on transparency and industrial labeling is certainly the stepping stone towards the same.

 

Safety Quotient of the Packaging Material

 

Industries do have a host of corporate responsibilities to fulfill and environmental empathy is certainly one of them. It isn’t surprising to see that most companies are going eco-friendly— not just with their products but also the packaging material in picture. Moreover, customers are also wary of the social responsibilities and company whereabouts— making it imperative for the enterprises to abide by certain environmental standards.

 

As per conducted research, customers are more likely to purchase products from companies that boast of positive environmental and social impact. In addition to that, certain customers are also willing to give the benefit of doubt to certain organizations which still haven’t resorted to biodegradable or recyclable materials— provided they offer insights regarding proper disposal of the involved entities.

 

At the end, it is all about the consumer and keeping them happy is what the industry should aim at.

 

The Concept of Recycling

 

When it comes to analyzing the packaging material quality, recycling is one basic yet important criterion. Bioplastic is slowly shaping up as the newest industrial trend and companies are slowly but steadily adding the same into their packaging endeavors. While Bioplastic is one dependable material with environmental sustainability, it also helps businesses generate higher levels of credibility. Companies should always look to save the environment in the first place which then will help their businesses grow, flourish and sustain.

 

Going Lightweight

 

One of the best and most underused eco-friendly trends would be to go light with the packaging material. Most companies goof up this aspect of packaging by adding way too much into the scheme of things. Be it the product distribution or seamless transportation— having a lighter exterior helps companies with a host of supply chain metrics. Moreover, customers do not prefer when the packaging is too convoluted to look at.

 

Therefore, going light is yet another aspect of environmental consciousness which was previously discussed in this post.

 

Addressing Green Packaging

 

Quite recently, global entrepreneurs are seen shifting towards green packaging in quite a celebrated manner. Moreover, the trends are pretty encouraging and companies would surely see a growth in green packaging adoption by the end of 2021. This is one form of eco-friendliness that aims at sustainable packaging while segmenting the market in terms of demographics, application and even the packaging type.

 

The last segment or rather packaging type is further segregated into degradable packaging, reusable packaging and recyclable packaging— depending upon the materials in picture. Green packaging is a concept that’s growing fast, courtesy the involvement of environmental concerns. Apart from the societal viewpoint, there are companies which have adopted this form of packaging for keeping up with the EPR considerations. EPR or Extended Products Responsibility is something every organization needs to take a note of in order to have a market-wide impression.

 

Last but not the least, green packaging or rather any form of eco-friendly packaging technique offers competitive advantage to the concerned organization by readily improving the profit margin.

 

It is quite understandable if the initial production costs are on the higher side as biodegradable and other environmentally rewarding materials are often hard to find and even harder to make use of. However, this approach will surely pay off well in the long run with the existing market trends hinting towards a global adoption of green packaging within the next few years.

 

 

 

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The importance of packaging design to improve your Brand Personality

Industrial marketing campaigns are heavily inclined towards the visual aspects of branding. When it comes to differentiating organizations based on customer retention and user engagement, packaging designs plays a pivotal role. In simpler terms, having an eye-catching brand name or rather a logo hurts no one. Moreover, branding— clubbed with product packaging can actually help a business flourish as the visually appealing vicinities keep the prospective customers interested.

Why Packaging Design is Even Important?

Needless to say, an organization has a lot on its plate but the concept of packaging design should still be held in high regard; simple reason being the visual enhancements on offer. Customers are tempted into making purchases by the overall layout of a product and not just the associated attributes. Apart from that, the existing marketing campaigns thrive on how the design cues are placed and what colors are incorporated into the packaging design.

Moving further into this post, we would be looking at the nooks and crannies of packaging design and how this concept has transformed the organizational marketing hierarchy.

Leading into the Packaging Design

First things first, a good packaging design should start off with a message— something that clearly describes the personality and vision of the company. While the design has to look appealing, it shouldn’t overshadow the essence of the concerned product. Creating a package might not be the most exciting job in the market but it actually involves a lot of intuitiveness and innovation.  Every packaging design should seamlessly lead into product assessment— thereby addressing the utilitarian nature of the packaged entity.

Making the Perfect Design

Research studies have established the fact that packaging designs are extremely important to the overall cause of an organization. However, it is the simplicity that entices prospects into making purchases. The perfect packaging design should therefore comprise of eye-catching fonts followed by the discrete company slogan that actually resonates with the concerned user base. Apart from that, product labeling should be clearly mentioned with each design.

The idea should be to create a packaging design that offers a lot of information about the sheltered product without killing off the curiosity associated with the same.

That said, the perfect packaging design can only be drafted once the pertinent marketing questions are answered. Companies should first evaluate if the package can actually represent the brand personality in the best possible manner. While the existing conglomerate of textures, colors and fonts might look exciting at the beginning, at the end it all pans down to the brand story and the how the same has been depicted.

The next question should focus on the desired price tag of the concerned product. A company wouldn’t want to spend a lot of money on the packaging design if the product isn’t expected to churn out a sizeable amount of cash. Therefore, even the design must offer value for money and companies should look to analyze the same before proceeding with a design specific campaign.

Lastly, the organization must determine the longevity of the product packaging by zeroing in on the material. The aspects of durability and physical sustainability are important when the supply chain management is considered. Moreover, the materials used need to be environmentally conscious.

Thinking like the Customer

When it comes to assessing the packaging design, the customer viewpoint is probably the most vital cog in the wheel. Apart from simplicity, customers look for authenticity and honesty. Therefore, the details mentioned on the package must be in sync with the actual product— making the brand look trustworthy and genuine. Moreover, the material quality also determines the likeability quotient of the existing customer base.

Lately, customers have been vouching for recyclable, eco-friendly and innovative packaging. In addition to that, company logo also plays a vital role in the entire process. Be it the logo layout or placement, it is important to strategize the package dimensions before starting off with the design.

While most companies are opting for the visually appealing pathway, experience suggests that packaging design should be descriptive in terms of information and minimalistic when it comes to the usage of colors and other frills. Overall, the package must be the mirror image of the brand personality and should look to entice the customers into making purchases.