Successfully running a small business comes with its fair share of bumps in the road. It can feel like there is no perfect how-to guide on keeping your pride and joy afloat. And for the most part, you would be correct.
But there are other industry professionals willing to provide wisdom wherever they can. That includes the professionals here at Overflo!
We want to ensure that growing your small business is as enjoyable and seamless of a process as possible. That’s why we’re here to share the typical shipping and distribution mistakes that many small business owners make and you should avoid.
Inaccurate Inventory Tracking
Retail is a numbers-related business. The key to success is always ensuring your numbers are tracked and accurate. From sales to market data, you must have all of your numbers in order. That includes your inventory.
Smaller businesses often lack the proper equipment and systems that allow them to accurately keep track of their inventory in real-time. Some still rely on manually entering their inventory. They typically enter the updated information into a spreadsheet after each sale. But the truth is that once you reach a certain level of success, your average spreadsheet will no longer suffice.
You will eventually need to enlist the help of equipment and systems that monitor your inventory from every channel. Your inventory monitoring shipping should track your items from the moment they enter your warehouse until the moment they leave, and potentially return. If you utilize multiple selling platforms, the system should be able to cross-check through each platform to give you an accurate stock number.
Remember that the more accurate your numbers are, the better you can determine different outcomes for future sales and growth.
Poor Logistics Management
Another often overlooked shipping and distribution blunder is logistics management. Similar to inventory, logistics is about keeping track of several aspects of your supply chain.
Logistics helps your company determine a multitude of things. That includes the best shipping routes and modes of transport, when it’s time to restock, and more.
A smaller business again tends not to have the best system for monitoring these items. Nor do they have the industry experience to know how each step of the supply chain interacts with one and other.
Inconvenient Warehouse Location
Choosing a warehouse based on its pricing can lead to many trials and tribulations for businesses of all sizes. But the unfortunate news is that smaller companies are more susceptible to this practice.
If your warehouse is not at the most convenient location for receiving and distributing your products it can become a hassle. You need to ensure that your chosen warehousing company is located conveniently to your headquarters and has access to your preferred modes of shipping.
Overflo is Here to Fix it!
Are you looking for a 3Pl warehousing company that services the East Coast? Look no further – Overflo is here to help!
With our top-of-the-line technology and systems, we can help your small business avoid these common shipping and distribution mistakes.
Get started on optimizing your business today by contacting us for a free rate quote!