The retail sector has undergone a huge transformation recently. It’s changing not only in the urban but rural areas as well. New retail outlets are coming up daily and the competition is becoming fiercer by the minute. As a result, retail companies are trying very hard to deliver best products without compromising on the service quality.
One thing that helps retail organizations to stay ahead of the competition is ensuring availability of right products at the right moment and at the right place. As this aspect of business needs a lot of focus and efforts, many companies prefer to outsource this function to the right 3PL company as many such companies specialize in retail logistics management. If you are also considering this option, you should know the benefits of hiring a third-party logistics provider for retail logistics management mentioned right here.
- Complete Support
Managing retail logistics is not just about writing plans and discussion tables. Apart from creating plans, a company needs to execute the plans in the most efficient manner. When you hire a good 3PL company, its experts would provide you with the right support to ensure that everything from strategy management to execution is done flawlessly. They also ensure that the SCM strategy is in alignment with your business goals.
- Great Warehousing
When you select the right third-party logistics provider, you will get access to not only a well-organized space but people and technologies as well. The warehouse will be designed by keeping the complexities of the retail world in mind and the procedures would be established to ensure fastest deliveries and best product storage. The time needed to find, pack and ship a product will be minimal in an efficient warehouse.
- Excellent Inventory Accuracy Levels
A good 3PL company will boost the efficiency of the supply chain management for retail sector by ensuring that adequate inventory levels are present at all times. It will ensure that there is no excess or lack of any products and the wastage is reduced. It will also provide data on forthcoming inventory needs to help with business planning for future. It will keep excellent records of every product so that no stuff ever goes missing or is stolen.
- Single Point of Contact
If you wish to extend your presence in every part of India, even the remotest villages, you will need to hire multiple transport providers who visit those remote locations consistently. A correct third-party logistics provider will already have access to best in class transport providers and it would act as a single point of contact on your behalf to make things easier on you. It will even manage your last mile deliveries with efficiency to ensure no delivery is ever delayed and your profits are maximized.
- IT Support
In today’s world, it is almost impossible to live without technology. A 3PL provider will turn this dependence into an asset by offering you access to technology that tracks shipments in real time, updates users on inventory, carries details of the distribution network and helps with warehousing. Total transparency of the supply chain process boosts customer satisfaction and also leads to instant correction of mistakes which further results in cost savings.
- Enhancement of Business Relationships
In case you hire the best 3PL company like Synchronized Supply Systems Limited, you will get access to a business network that’s already established by the outsourcing partner. You will get to build business relationships with all people involved in your supply chain management and this large business network might add value to your brand by promoting your products directly or indirectly. Always remember that exploiting existing business relationships will help you to grow your business faster than developing new business relationships. So, you should seek a company that is willing to share its existing business network with you rather than keeping things too confidential.