Are you looking to expand your business operations? In the midst of launching a new e-commerce venture? Scaling your organization to new heights? As your business reaches a new inflection point, it’s imperative to assess forthcoming needs and implement strategies aimed at bridging potential gaps. In the current marketplace, finding the right warehouse space is pivotal in establishing an efficient and agile supply chain.
The quick, unexpected arrival of the Covid-19 pandemic drove businesses and consumers alike to utilize digital outlets like never before for selling and purchasing goods, “raising e-commerce’s share of global retail trade from 14% in 2019 to about 17% in 2020.” This surge in e-commerce has sparked new trends in consumer demand, including the desire for speedy delivery.
The need for effective warehousing services has become more pertinent than ever as a key component for driving scalable and sustainable long-term growth. From fulfillment and inventory management to technology and distribution, explore how to find warehouse space that aligns with your business’s unique vision, goals, and needs.
The Importance of Finding the Right Warehouse Space
Warehouses are an integral part of the supply chain, helping facilitate a myriad of crucial needs for the marketplace. Finding the right warehouse space can significantly impact your supply chain, dictating the speed and efficiency of your entire strategy. An optimized supply chain management system is the lifeblood of a successful business, boosting profitability and decreasing expenditure.
Effective warehousing can serve as the connective tissue between different phases of the supply chain and contribute to an accelerated production cycle. Product flow, technology, and prompt shipping services are all fundamental elements to consider when searching for a warehouse space and fulfillment partner that can drive upward mobility for your business.
Whether you’re an up-and-coming e-commerce company or a corporation with a national footprint, there are many factors to consider in finding the ideal warehouse space. In addition to inventory storage, your warehouse space should facilitate increased turnover, provide efficient order fulfillment, reduce shrinkage, and provide advanced accessibility.
Equally important is selecting a warehouse that delivers dependable transportation services. Not only should goods be safeguarded while in transit, but the right warehouse should be able to accommodate everything from bulky to perishable products. Certain products require temperature-controlled space which is ideal for items that will lose integrity if they become too warm or too cold. Minimizing the possibility of products being damaged during transit will help drive customer satisfaction and loyalty.
Does the Warehouse Have Diverse Capabilities?
Compared to traditional warehousing models, facilities that offer more comprehensive solutions can help streamline processes and scale your business. Opting for a warehouse partner that provides integrated solutions and premium technology can ensure customer demands are met and inventory is managed at an optimal level. Warehouses with a wide range of services can also drive efficiency in your supply chain network, allowing you to focus on big picture initiatives for your brand.
From the breadth of services to overall costs, asset-based warehouses are designed to provide value across the board, including fulfillment, logistics, inventory replenishment, and more. Aligning yourself with a partner that invests in innovative technology, their facilities, and employees will ultimately supply high-quality, reliable solutions that simply cannot be replicated by a traditional warehouse provider.
What’s Their Experience Level?
Part of your due diligence includes determining the level of expertise a particular warehouse business has. Is it a newly established venture, or do they have 20 years of experience under their belt? Evaluating crucial data, like their inventory accuracy rate or on-time shipping rate, can also provide invaluable intel on a warehouse business’s ability to accommodate your needs. Facilities that leverage automation and technology to enable process efficiency understand that meeting evolving market demands calls for agile, flexible solutions.
Another element to consider is what types of products the warehouse has experience with. For instance, if your e-commerce business revolves around food products, you’ll need a partner that offers temperature controlled management as well as the specialized personnel needed to handle sensitive products.
What Type of Technology Do They Offer?
Technological advancements have paved the way for superior equipment and service provisions across sectors. The same applies to warehousing space. What type of warehouse management system are they utilizing? Do they provide real-time inventory insights? Can you access transaction-level updates or a summary of account activities?
It’s also crucial to assess whether or not they offer integrated solutions. These integrations can streamline order fulfillment and drive visibility across key touchpoints in your supply chain. Warehousing services that embrace innovation and technology will deliver a smooth experience and help your e-commerce business grow. Plus, a technologically-forward partner can help drive efficiency and save on costs.
Do They Offer Additional Services?
The majority of warehouse facilities offer services focused purely on storage and shipping. For many businesses, however, it can be extremely advantageous to find a warehouse that provides a larger scope of service offerings. For instance, your operational needs may encompass areas like labeling, packaging, quality control, and return management. Warehouse solutions that can provide end-to-end coverage for your order fulfillment can effectively drive down costs and deliver time-saving benefits for your business.
In What Regions Are They Located?
Ideally, you’ll want to find a company with a nationwide network of warehouses. The wider your customer footprint, the wider the warehouse network you’ll want. A strategic geographic footprint is essential for distributing inventory around major markets to satisfy consumer shipping expectations. A network of multiple warehouses can effectively decrease overall shipping costs while providing speedier delivery times, like two-day shipping. The trends don’t lie: more than half of consumers prioritize buying from retailers that offer efficient delivery options.
What’s more, if the warehouse company has woven an inventory management system into their service offerings, you’ll receive real-time updates on inventory and orders. From orders shipped to replenishment needs, you’ll gain access to valuable data and be able to track inventory levels across different warehouse locations.
What Type of Clients Do They Serve?
The type of businesses and customers a warehouse consistently partners with will provide insight on whether or not they’re a fit for your needs. Do they only traverse the B2B space? Maybe they solely handle storage needs for small companies. Do they have omnichannel capabilities? You’ll need to make sure the warehouse has experience serving companies like yours.
Finding the right warehouse space means having a good grasp on their typical customer base and ensuring it has the capacity to expertly navigate the demands of your business. In a similar vein, to capitalize on ROI, look for solutions that offer customization, and tailor their services to align with your specific needs and objectives.
Ensure You Thrive in Today’s Hyper-Competitive Marketplace
There is a myriad of factors to consider when seeking a warehouse space for your e-commerce business. Warehousing facilities play a vital role in effectively managing your supply chain, ensuring consumer demand is met swiftly and efficiently. From packaging to delivery, scaling your e-commerce business requires a large investment of your time, resources, and attention.
The experts at Smart Warehousing act as an extension of your team, handling everything from order fulfillment to inventory management. The result? Valuable time and resources can be reallocated to your business’s big-picture initiatives, like expanding your customer base. By pairing innovative technology and automation with decades of industry expertise, Smart Warehousing looks forward to helping you exceed customer expectations, stay ahead of demand, decrease costs, and ensure your e-commerce business thrives.
To learn more about how we can create a personalized solution that’s uniquely tailored to address your needs, contact us today.