QuickShift Used Techniques for Better Inventory Management

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Ecommerce Fulfillment Services India

• https//www.quickshift.in/fulfillment-services

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QuickShift Used Techniques for Better Inventory
Management
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Managing your inventory might not seem like a
tedious task when you have just started your
business. However, as your sales shoot up, loads
of inventory challenges are bound to come your
way. But you need not worry since plenty of
techniques help you plan out efficient inventory
management, thereby keeping your stocks in one
place effortlessly. These techniques or methods
are highly practical, and their success is
evident from the fact that they are adopted by
some of the leading e-commerce fulfillment
services in India. So, whether you are an order
fulfillment service looking for ideal yet working
strategies to arrange your stocks or a D2C brand
in India with the same goal, you have come to the
right place.By the end of this article, youll
have the top and finest of all techniques in your
hand that can land you the ultimate warehouse
management system for your business. So, lets
begin!
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• Top 5 Techniques For Better Inventory Management
  System
• ABC Analysis
• Simple, yet one of the most efficient ways of
  arranging and ordering your inventory is ABC or
  Always Better Control analysis. In this
  approach, the order fulfillment service must
  categorize its inventory into three sections A,
  B, and C. The basis of the division is the high
  price or value of the products.
• E-commerce fulfillment services India and
  elsewhere keep the A group for the most expensive
  inventory in the warehouse, followed by the
  moderate valued one under B and the lowest prices
  under C.
• This inventory management technique aims to
  implement high control over the A class since any
  harm to this group can adversely affect your
  business.

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• JIT
• The next technique adopted by most e-commerce
  warehousing services is JIT or the Just In Time
  method.
• In this, the company avoids storing excess stocks
  but only the amount needed by the e-commerce
  courier service to fulfill the orders. New
  inventory is ordered when the product quantity
  approaches replenishment and hence enters the
  warehouse just in time.Although,
  this inventory management system can be risky
  when proper tabs arent kept on the stock levels.
  However, it also prevents unnecessary storage and
  cost issues, which is a bright upside.

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• FSN
• The FSN or Fast, Slow and Non-Moving warehouse
  management system is based on the utilization and
  demand of a particular product, a highly
  beneficial technique to cut down costs on the
  least-demanded/ordered items.
• In every e-commerce warehouse in India or
  elsewhere, there exist three types of
  inventories
• The one that is required very frequently
  (fast-moving)
• The one whose demand is moderate (slow-moving)
• The one that is least ordered or sometimes not at
  all (non-moving)
• Based on these requirements, the company
  restocks. In addition, market trends (especially
  seasonal) are looked out for beforehand so that
  the order fulfillment service categorizes its
  inventory into these verticals correctly in
  advance.

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• MRP
• The MRP technique stands for Material
  Requirements Planning and is quite similar to
  the FSN inventory management system in terms of
  predictions and sales forecasts.
• Once the market analytics results are in place
  and the business is aware of the expected orders
  theyll have to fulfill, purchasing inventory and
  storing it with the help of e-commerce
  warehousing service takes place.
• While this technique can be immensely fruitful
  since youve pre-planned everything, it can also
  negatively impact if theres an unforeseen
  variable that changes the market trends
  drastically, like Covid-19.

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Conclusion One of the best ways to manage your
inventory correctly is to take help from 3PL
logistics like QuickShift fulfillment. Preferred
by the leading brands in India and in partnership
with the top e-commerce channels, you can even
switch from being a D2C brand to integrating with
platforms like Amazon, etc., with QuickShift
fulfillment. It also provides hassle-free
warehouse management that runs parallel to your
aim of achieving cost-efficiency. Furthermore,
you also get to benefit from an
excellent e-commerce courier service that takes
utmost care of your customers and helps you
complete last-mile deliveries. With QuickShift,
get your business dream-warehouse today and get
started with the inventory management technique
that suits your requirements the best!
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• Minimum Safety Stock
• Last but definitely not least, the Minimum
  Safety Stock method is mainly aimed at
  preventing out-of-stock situations at all costs.
  If youre a D2C brand in India who has frequently
  been running out of inventory, then this approach
  is exactly what you need to adopt.
• The Minimum Safety Stock is basically a level
  of stock quantity that the e-commerce warehouse
  India must always meet (at least). For example,
  lets say the present quantity of any product in
  your inventory is 20,000, and youve set the
  minimum safety stock level as 3,000.
• So, whenever the quantity level drops down to
  3,000, you will be placing a new order for your
  inventory. This helps to restock within plenty of
  time, thus preventing haste in the warehouse and
  dissatisfaction with the customers.