Most businesses live and die by their product distribution strategy. With the right product distribution strategy, you can ensure that you are never caught with low inventory or an overstocked warehouse. Here are some simple tips to ensure that your product distribution strategy runs like a well-oiled machine.
Distribution is often overlooked, but a very important part of business. It can make or break you branding. For example, if you are a makeup brand that has prestige and you had people in virtual lines for hours getting the latest makeup eyeshadow palette you may think you’re on your way to a billion dollar profit, however that can backfire when half of them arrive damaged due to cutting corners in the distribution. This can become a PR nightmare and keep future customers at bay from trusting your company. In the world of e-commerce it’s easy to forget the harmony between virtual and physical tools that provide the user experience.
Update Warehouse Management Software
One of the best ways to stay on top of your inventory is to update your warehouse management software. Every year, there are new software and hardware warehouse management software innovations that can help you stay on top of your products. The right warehouse management software will reduce lost inventory, long shipping times and inaccurate product shipments.
Update Delivery Systems
To ensure that your products get through your supply chain seamlessly, you will want to update your delivery system. For instance, investing in new semis from arrow truck sales can help reduce order turnaround time. By updating your fleet, you can avoid chances of breakdowns and missed deliveries. Look at it this way, the cost of updating your fleet will pale in comparison to the cost of repairing an old fleet of trucks or losing business to slow delivery times.
Improve Communication with Your Supply Chain
One of the best ways to stay on top of your product distribution strategy is to stay in touch with your supply chain. That can include your raw material manufacturer, your delivery team and your final point of sale retailers. It’s a good idea to stay in communication with each member of your supply chain to anticipate any choke points and make any adjustments. For instance, if your raw materials supplier warns you that they come up short in the next quarter, then you can call in a second raw materials supplier to avoid any breakdowns in your business.
Anticipate High Demand Seasons
Every business has a high demand season that is responsible for a big chunk of revenue and profits. The last thing you want to do is deal with a crisis on Black Friday or Cyber Monday if your product targets the consumer market. Have your high season strategy mapped out at least four months in advance. Also, have some contingency plans in place in case there is a breakdown in your supply chain.
Summing it All Up
With the right product distribution strategy, you will never get caught short. Remember to update your warehouse software and delivery system. Finally, stay in contact with every member of your supply chain and be ready for peak seasons for best results.