Being customer-centric is no longer a choice – it is a must. The modern consumer expects the very best retail experience available: fast, cheap, entertaining, rewarding, personalized, secure, and open for business 24/7. Vital to this whole process is a proactive omnichannel fulfillment strategy.
Omnichannel Fulfillment
With omnichannel fulfillment, the entire delivery chain, including warehousing, packaging, and delivery process, is synchronized. And, following the order, there is communication with customer service representatives regarding order processing, backorders, and delivery. Ensuring that consumers receive the personalized and traceable service that they desire — leading to the high levels of customer satisfaction and brand loyalty that companies like Amazon achieve.
Omnichannel Fulfillment & Customer Experience
Implementing an effective supply chain that is responsive to changing consumer demands and market trends can increase revenues, sustain growth, and improve the customer experience. The 2018 Retail Delivery Connect Report found “61% of retailers are implementing new supply chain strategies and initiatives designed to meet modern consumers’ expectations. They see the supply chain as an opportunity to expedite delivery through clearer logistics, but also provide customers with more transparency into their orders.” *
The key to satisfying the high expectations of today’s consumer lies within an omnichannel approach. Sarah Taylor from Oracle Retail said, “Cross-channel (or omnichannel) integration is imperative to a retailer’s ability to market, interact and transact consistently across multiple touchpoints, whether the shopper is online, on the move or in the store. Shoppers want a seamless brand experience irrespective of channel, so retailers must evolve from considering individual, channel-specific transactions to that of a holistic, company-wide view of shopping behavior.”
Omnichannel retail gives consumers the ability to order from anywhere, anytime using any type of device, including at stores, online, or over the phone. In our digital world, consumers can research and compare pricing while at home or standing in a store and select delivery or pickup options to suit their busy schedules.
Omnichannel Fulfillment & Your Bottom Line
According to a paper published earlier this year in the European Journal of Operational Research titled Profitability of online order fulfillment in multi-channel retailing. “Order delivery and fulfillment costs have the biggest combined impact on the profitability of a retailer’s online order fulfillment strategy.” It concluded that “fulfillment from distribution centers or direct-to-consumer fulfillment centers tended to have the highest level of profitability.”**
It’s clear from the evidence that the customer-centric, traceable, and tech-savvy new retail world relies on an omnichannel fulfillment strategy. But, for many companies, trying to handle all aspects of warehousing, product fulfillment, and distribution, alongside product sales and development, can result in them spreading themselves too thinly and ultimately lessen their focus on core aspects of their business. Delegating a 3PL/ Fulfillment Services warehouse to take over supply chain management is the smart option for small to medium-sized businesses. It simplifies and speeds up the entire logistics process, reduces costs, and ensures fast and efficient delivery of your products. Meaning you can satisfy your customers and your bottom line while focusing on business growth.
Note* Information sourced from; The 2018 Retail Delivery Connect Report
Note** Information sourced from; The Supply Chain Dive
