In today’s rapidly evolving digital landscape, businesses must stay ahead of the curve to remain competitive. One of the most effective ways to do this is by leveraging the power of omnichannel fulfilment. By implementing a unified approach to managing inventory and order processing from various channels, wholesalers can streamline their fulfilment processes and distribution of orders, ultimately reducing errors and inconsistencies across their business.
Not only does an omnichannel approach help to reduce common points of friction, but it has become an expectation. For example, a Salesforce article states, “Modern customers expect a seamless omnichannel journey, 24/7 customer service, and personalised communication. Companies that fail to deliver on these expectations will get left behind.”
In this article, we’ll explore the concept of omnichannel fulfilment in more detail and highlight some of the key benefits it offers wholesalers.
What is Omnichannel Fulfilment?
Omnichannel fulfilment is a strategy of having a unified approach to managing inventory and order processing from various channels. It allows an organisation to streamline the fulfilment processes and distribution of orders from multiple selling channels. This includes everything from online marketplaces and ecommerce websites to telesales and cash & carry outlets.
The key benefit of omnichannel fulfilment is that it allows wholesalers to provide a seamless customer experience regardless of the channel a customer uses to make a purchase. For example, a customer who purchases a product online should have the same experience as one who purchases the same product through Telesales. This seamless experience is becoming increasingly crucial for capturing and holding the attention of modern-day customers, where the online customer experience can make or break a sale. Investigating this trend, Salesforce found that “67% of customers use multiple channels to complete a single transaction. This means that businesses that aren’t offering multichannel engagement provide a substandard experience for these customers”. Furthermore, “40% of customers say they won’t do business with companies if they can’t use their preferred channels”.
The Benefits of Omnichannel Fulfilment for Wholesalers
There are several critical benefits of omnichannel fulfilment, including:
- Maximising Sales: Wholesalers can increase sales and reduce order abandonment rates by providing a seamless customer experience across all channels. This is because customers are more likely to purchase when the buying process is smooth and hassle-free. Supporting this statistic, Globe News Wire found that “omnichannel customers spend 20% more than single-channel customers”. These statistics were supplemented by a Shopify article claiming, “Multiple channels allow omnichannel businesses to reach a more extensive customer base. As a result, you’ll make more sales and improve your customer lifetime value”.
- Improved Inventory Management: With omnichannel fulfilment, wholesalers can manage their inventory in real time across all channels. This means they can avoid overselling products and ensure customers receive their orders on time and in full.
- Reduced Errors and Inconsistencies: Omnichannel fulfilment helps wholesalers to reduce errors and inconsistencies across their business. By automating their processes and centralising their operations, they can ensure that every order is processed accurately and efficiently.
Unified Ecommerce Platforms
Another critical aspect of omnichannel fulfilment is the use of unified ecommerce platforms. These platforms provide wholesalers with a centralised hub for managing their inventory, orders, and customer data. This allows them to streamline their operations and improve efficiency, leading to increased sales and reduced costs.
In conclusion, omnichannel fulfilment is an essential strategy for wholesalers looking to remain competitive in today’s digital landscape. By implementing a unified approach to managing inventory and order processing, wholesalers can provide a seamless customer experience across all channels. This ultimately leads to increased sales, improved efficiency, and reduced errors and inconsistencies across the business. By using unified platforms such as Oporteo and Accord, wholesalers can take full advantage of the benefits of omnichannel fulfilment and stay ahead of the curve in their industry.
Get in Touch
At BCP, we offer an OMS that enables wholesalers to manage stock, process orders better, and pick, pack, and dispatch across all channels. Some key features we’ve worked to incorporate are centralised order tracking, real-time inventory management, faster shipping and fulfilment, and returns and reverse logistics handling, making operating more effectively easier.
In the meantime, click here to learn more or contact one of our experts with any questions.
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