VWB Blog 3PL companies are becoming essential for traders in Singapore, trying to achieve online and one channel strategies. They are pivotal to the growing need for better order fulfillment.
WHAT IS 3PL?
The term 3PL stands for (Third-party logistics); they are also known as pick and pack service providers. These companies are taking care of your supply chain process by their smart order fulfillment system. They have a strong network of 3PL warehouse management, inventory management, transportation of goods, and else.
Out-sourcing your fulfillment operations to third-party logistics means you can concentrate on marketing and selling your products and services. Engaging a 3PL company will give you the peace of mind in knowing that after you have made a sale, your products will arrive to your customers promptly and professionally… on time… every time.
WHAT KIND OF SERVICES THEY OFFERED TO THEIR CLIENTS?
- INVENTORY PLANNING
Ever feels like your company is burdened with too much inventory, yet your top customers are demanding a product that is out of stock? Welcome to the everyday challenges of inventory planning.
A crucial element of supply chain operations that require a lean level of inventory to preserve cash flow, while guaranteeing that product is in-stock and ready to be shipped when an order comes through. With so much on the line, either fulfilling your customer’s order or watching that order be placed with a competitor, trust your inventory demand planning to a trusted 3PL leader.
Third-party logistics offers the flexibility needed to address today’s ever-shifting demand fluctuations while offering technology-driven solutions that keep your company one step ahead.
There are three types of inventory management, such as:
- INVENTORY FORECASTING
The unpredictability of market conditions has made inventory forecasting even more challenging. Demand is not adhering to past trends; inventory levels are not fluctuating in predictable patterns.
To achieved optimized inventory levels and meet the needs of your customers – no matter the economic climate – partner with a 3PL that is a proven leader in inventory forecasting.
Make your life easier by outsourcing your inventory management problem to 3PL service providers or if you are located in Asia’s business hub (Singapore) then hire some professional 3PL companies in Singapore for your business needs.
They analyze inventory and service levels to determine the optimum level that best serves your customers and your bottom line. Their forecasting services can outline the optimized stocking levels to meet the service level requirements, without excessively draining your company of much-needed operating capital. Their reporting capabilities include aging, product status and min/max levels to notify of possible low-stock situations and ensure on-time replenishment.
- INVENTORY OWNERSHIP
The 3PL companies’ stance on inventory ownership on behalf of clients. By outsourcing inventory ownership to 3PL service providers, they are able to assume the standard inventory risks and costs while allowing clients to focus on their core competencies and front-end business activities.
They are born to handles what they do best, back-end logistics functions, while your business focuses its time and resources on product development, marketing and selling.
If you’re worried that your current provider isn’t truly vested in your company’s successes and failures, partner with a 3PL that will go in the trenches with your business.
- VENDOR MANAGEMENT & PAYMENT SERVICE
In today’s global economy, increased focus on strategic sourcing has dramatically increased the complexity of supplier interactions. 3PL Logistics can help by providing supplier relationship management. Instead of dealing with countless suppliers, you can simplify and streamline the process by utilizing third party logistics as your one stop solution.
They will manage the day to day interface for purchase order transactions, develop and maintain the item master database, inventory forecasting, and monitor service level attainment on inbound shipments and receiving rejections such as: quantity discrepancies, wrong item received, substitution data not provided, poor packaging and/or items received damaged. They provide customized ordering, invoicing and reporting. The information provided by them so you can be linked to your operating system so the data is where you need it when you need it.
- 3PL WAREHOUSES & ORDER FULFILLMENT
Looking to expand into a new market, launch a new product or offset some of your current distribution costs? 3PL order fulfillment service saves you money, time and supports your reputation for outstanding customer service. They often handle projects that require merchandise to be received, inspected, labeled and shipped all on the same day.
Whether you require direct-to-business or direct-to-consumer order fulfillment, these companies offer flexible services to meet your requirements.
- WAREHOUSING
3PL companies utilize the latest warehouse automation technology to save your company money and processing times. Their warehouse automation includes radio frequency processing, in-motion fixed position scanning and weighing systems, carousels, automated sortation, conveyor systems, employee productivity programs and manifest processing.
Regardless of whether orders are shipped direct to a consumer or a business, delivering complete, on-time orders that are damage-free and include proper documentation is our objective.
- LAST MILE DELIVERY
The last-mile of the supply chain is the final and crucial connection between your company and your customers. 3PL companies maintain the critical link between clients and their customers by delivering products right into the customers’ hands.
Their services can provide cost-efficient and on-time white glove delivery from B2B or B2C for residential or commercial purposes. Regardless of your specific products and requirements, they can devise a customized white glove delivery process that best serves your business and customers.
CONCLUSION
3PL companies have the finest solution to your problem, from managing inventories to last-mile deliveries. In Asia, Singapore is known as the business hub that captures massive shares in trading. In order to make your business efficient, you can go find some of the best logistics companies in Singapore that caters to your delivery problems.