Shopify recently wrote a great article about how to make warehouse management operations run smoothly for scaling brands. At Ascent Solutions we’ve been blogging about warehouse management solutions, omnichannel orders, and logistics/fulfillment a lot recently too. Why? Because the “New Economy” created by the pandemic coupled with a global supply chain crunch, has impacted every type of company across the value chain of manufacturing, distribution, and logistics. For readers that want to get caught up quickly on the latest warehouse and inventory management trends, here are three to keep an eye on, plus a reading list for further research. So grab your coffee or tea and let’s get started:
Major Shift in Warehouse Logistics & Fulfillment
As Shopify mentions, warehouse availability is at all time lows. This has led to the rise of new techniques, technologies, and fulfillment partners to ensure products are available for omnichannel orders and delivered directly to the doorstep or are ready for click and collect. 3PLs (3rd party logistics providers) have always been around, but their importance has risen dramatically since the pandemic. Companies are now searching for new ways to manage inventory and this has led to the rise of micro-fulfillment centers and better last mile fulfillment, as one approach.
Renewed Focus on Reverse Logistics
As companies of all sizes search for new solutions to efficient warehouse management, leaders have realized there’s a massive opportunity for better inventory returns management, or reverse logistics. In fact, losses related to customer returns have already exceeded $500B+ in the US and are climbing. Adept companies realize the cost of customer switching is now so low, that they must deliver a superior experience to retain customers and improve lifetime customer value. Better tools for managing the inventory lifecycle, including reverse logistics, are a way to differentiate and improve profitability in the new economy.
Other ERP Trends
Earlier this year we discussed the biggest ERP trends we predicted for 2022. From omnichannel orders to last mile fulfillment, click and collect, equipmentization, etc. we cover every aspect of the inventory value chain. It truly is an exciting time for brands looking to disrupt the traditional models within inventory management, logistics and fulfillment.
Reading List Summary:
- Warehouse Management: How to Make Warehouse Operations Run Smoothly for Scaling Brands by Shopify
- Omnichannel for Everyone in The New Economy by Ascent Solutions
- Omnichannel for Everyone in The New Economy (Part 2) by Ascent Solutions
- Micro-fulfillment’s Big Impact on Retailers and Ecommerce by Ascent Solutions
- Billion Dollar Opportunity: Empower Reverse Logistics by Ascent Solutions
- 10 ERP Trends to Watch in 2022 by Ascent Solutions
Did we miss any trends for warehouse management solutions that you think will be impactful this year? Let us know and make sure to check out our 100% native Salesforce applications on the AppExchange, if you’d like to learn more about our technology solutions for inventory and warehouse management, reverse logistics, and many other ERP solutions.