A 3PL company assists multiple businesses with their supply chain management, inventory storage, and/or order fulfillment. They often run distribution centers to receive products from vendors and ship products to customers. There are many levels of service that 3PLs may offer. Not every 3PL handles the complete order-to-cash process. Businesses that use 3PL services should bear this in mind (and also the potential time savings and costs involved) as they decide which one is best for their operations.
Create as many warehouses, aisles, shelves, and bins as you like to store products
Ensure each company’s products are stored separately from all others to speed up order fulfillment
Use consignment locations, transfer orders, and purchase orders to efficiently move inventory
Monitor the performance of each vendor, as well as each one’s payment terms and order requirements
Use serial numbers, lot numbers, and other criteria to track each product’s location and condition
Perform complex warehousing jobs from anywhere by scanning barcodes with a smartphone or tablet
Use the dropship option on sales orders to fulfill products that have insufficient quantities in stock
As you expand into more markets and add new warehouses, you will find it important to track inventory at each location. Not every warehouse or fulfillment center is the same. For example, product A might be a hot seller at warehouse A, but it’s not as fast-moving at warehouse B. By monitoring sales at each location you sell from, you’ll be able to see such disparities and stock up strategically. This helps you maximize your sales potential and avoid overstocking on slow-moving products.