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Why growing businesses need a best of breed WMS
Many businesses all over the world are making ends meet by serving customers and delivering products on time. However, the demands of the average customer are changing faster than ever, which has prompted businesses to scramble and adapt. Among the many new pressures being placed on retailers, customers want faster deliveries and returns. They want products customized specifically for them. And they will only give their business to those who can combine all of these demands in an intuitive, comprehensive shopping experience.
This means retailers must innovate to get ahead, and this has to start at the supply chain. According to recent data, however, it seems many companies have been slow to respond to customer demands. As many as 46 percent of small- and medium-sized businesses either track their inventory manually, or not at all. This inefficiency leads to the average U.S. retailer keeping $1.43 in inventory for every $1 of revenue.
Supply chain operations remain generally hidden from the view of consumers, and yet they have a major impact on customer experience. A recent survey suggested that as many as 65 percent of online shoppers in the U.K. became lost sales if the product they were looking for was out of stock. And yet, retailers are planning on handling even more inventory in the coming years, with 54 percent of warehouses anticipating more SKUs to be added to their warehouse over the next two years. To handle this influx of product, 35 percent of retailers will build more warehouses.
As a retail business grows to adapt to change, its supply chain needs to grow alongside it. That's why 76 percent of businesses are switching to a best of breed warehouse management system like SnapFulfil.
With the power and flexibility it offers, SnapFulfil can get any retail operation running smoothly.