Tracking Vendor Shipments and Lead Time
When your business is using multiple suppliers, it can get a little crazy keeping track of vendor shipments and lead time. Eager customers want their products cialis order as fast as possible, and they hate having to wait. With the hundreds of things you have to do everyday for your business (trust us, we know), it can be easy to forget about vendor shipments and leave it until a serious issue arises. However, it is a great idea to keep track of your vendor shipments, and make sure that all your vendors are shipping in a timely matter.
Lead time, while sometimes overlooked, is a great thing to keep track of. A lead time is the time between when an order is placed by the customer, and when the order is actually delivered to the customer. Simple products usually have a short lead time, but more complex products such as a car can have much longer lead times. Customers love to see short lead times, and by monitoring your vendors’ lead times you can find the most efficient vendors and keep customers happy.
In a perfect world, all your vendors would ship their products immediately after a customer placed an order for your business and have great lead times. Unfortunately, vendor shipping is not so simple and easy. While there are many vendors out there who will be extremely efficient and timely about shipping out all the orders they receive, there will always be vendors who do not do such a great job of it. By tracking your shipping, you can find out which vendors are doing a great job, and which are not doing quite so well. If you have a vendor that can’t efficiently ship out your orders, you might want to look for a replacement.
Vendor shipments can be a great tool for your business if you can manage them in the right way. If you have a hot product and you’re selling it from a vendor that can deliver it faster than the competition, that could bring you a lot more sales. Customers don’t want to have to wait for their products, and shorter shipping times are a big plus for them. Track your vendor shipments, and find out which vendors can get products out the quickest. These vendors will be extremely beneficial to your business.
One thing you need to keep a careful eye on when tracking your vendor shipments is shipping costs. Sure it may be worth a few extra dollars for a vendor that minimizes lead time and gets your product out right away, but you have to make sure it is cost effective. By tracking vendor shipments, and comparing them to vendor profitability, you can find out which vendors shipping methods work best for your business. While in general the shortest lead time is best, sometimes it may not be worth an outrageous shipping cost.
To easily track vendor shipments and lead time, take a look at the Bizelo eRetail Supply Management App and make supply management easy!