TTS - What Should I be Doing in January to Prepare for the Coming Year?
It's January and TTS has compiled 7 Points on How to Effectively Plan for the Coming Year, if you haven’t done so already! These points are worthy pf consideration, regardless of the size of your e-commerce enterprise and will help you optimise the effectiveness of your trading for the coming year.
1. Ensure Data and Stock Level Accuracy – It is essential that a stock take is implemented with any product variances taken into account.
TTS can help you to review your ABC cycle-count routine based on importance, value or sales frequency.
2. Test Connected Systems - Ensure that your webstore / marketplace (ERP) is properly linked to TTS’s WMS, taking into account any inventory updates. TTS can help you with this.
Conduct an end-to-end test for inbound, outbound and returns.
3. Forecast taking into account Important UK Trading Dates – TTS can help you to develop a 12-month UK forecast, taking into account notable dates that have an impact on your business. Such dates could be Valentines and Mothers Days, Easter, Black Friday and Christmas – as well as any promotions or product launches you are considering.
4. Space Slotting and Kitting – Book pallet/overflow space. Taking into account known peak periods. Slot fast movers close to pick faces and plan space for bundle promotions.
5. Define your UK SLA – You need to define your service level agreement for order/promotion cut off’s; this is something that TTS can advise on. Working with TTS we need to set expectations for areas that are located within the far reaches of the UK – such as the Highlands and Northern Ireland and discuss any applicable surcharges. You also need to consider your policy on returns and ‘write off’s.’
6. Establish Base Costs and KPI’s – At TTS we believe ‘turnover is vanity and profit is sanity!’ Therefore, we can work with you to establish your baseline costs for your various SKU’s based on storage, handling and packing to determine the optimum DIM.
Our WMS will give you up to date stock monitoring to help you determine the performance of your various products. Monthly reviews will enable us to make quarterly adjustments and improvements to ensure a profitable year.
7. Risk and Peak Readiness – TTS can help you plan for bank/public holidays and reserve flex capacity for spikes in demand.
We can also help you to determine if you have the right levels of insurance for high value products / SKU’s.
There’s certainly a lot to think about isn’t there, however, don’t panic! TTS are experts and independent integrated logistics providers; we can give you all the advice and support you require to plan for the year ahead with cost effective fees that ensure a healthy bottom line.
For further information: ian@telfordtransport.co.uk