The electronics market is predicted to have an annual growth rate of 2.90% from 2024 to 2029 and is one of the fastest growing market sectors globally. Technology is constantly involving, with new variations of products such as smart phones, laptops, headphones etc, being released each month. With such rapid growth, it is important electronic companies keep up with the demand of new and improved technologies, as well as keep up with lots of competition.
If you’re an electronics company, it is key that your stock is kept safely and sent to customers fast and efficiently. 3PL and electronics fulfilment may be the best option for your business in order to grow and scale your business, as well as keeping up with competition.
What is 3PL and Electronic Fulfilment?
Third-party logistics (3PL) is the process of outsourcing your fulfilment to logistics experts and allowing them to store, pick, pack and ship your items to your customers. This means you will not need your own warehouse, or workers (savings huge costs) and all of the stress of logistics and shipping will be left with your chosen, trusted provider. Your chosen 3PL provider will also handle any returns or exchanges (reverse logistics) and may provide other additional services, such as expertise in specific industries and management and inventory tracking systems.
Electronics fulfilment is the process of getting your electronic stock from yourself to your customer, and this can be done through a third-party logistics company. The fulfilment process involves all the steps to getting the item from the manufacturer to your customer, safely and efficiently. As electronic items are so valuable, it is important your electronic fulfilment process is carefully managed, and if you do have a 3PL provider, they must be able to keep and send your items in the safest way.
The Advantages of 3PL:
- Cost saving
You can save money on warehousing and staffing costs, as well as cheaper shipping rates (3PL’s usually provide cheaper rates).
- Increased Efficiency
With the best technologies and warehouse management, 3PL’s can provide 99% picking and accuracy rates, 3PL providers will efficiently send out your products to customers to ensure your customers are happy.
- Inventory Management
3PL’s have special technologies that give you livestock updates. This is helpful to know when you’re running low on stock, or stock that you may not be selling very well.
- Improved Customer Service
Your chosen 3PL can help you take care of returns and exchanges, as well as have live tracking of orders. People are more likely to buy from you when they know the buying process and returns process are both easy.
What you can focus on:
Take away the stress and pressure of sending out orders fast and safely to your customers, and leave all logistics to your chosen 3PL provider, who are experts in this field. By outsourcing your fulfilment, it gives you the chance to focus more on other areas of your business and begin to grow and scale at a faster rate. As the electronics market is so crowded, and there are constantly technologies expanding and improving, it is important you can focus most of your time on product development and bringing out new and improved products frequently.
Make sure you’re keeping up with your competitors by doing regular customer research, as well as focusing highly on your social presence and relationships with customers. Many huge companies dominate the electronic market, so it is important to try and stand out compared to these giant competitors.
Choose GNOC
Why not choose GNOC as your 3PL partner? We are experts in all things eCommerce and can help your electronics business thrive and grow as we deal with all of your logistics.
If you need extra support, or have specialised requirements, you can let us know and we can help choose the best options for you. With years of experience in eCommerce, we know how hard it can be running a business, especially when technologies are constantly evolving each day. We can partner up and make the supply chain run so much smoother.
Contact us here, or fill out our enquiry form here, and one of our helpful team will be in touch to discuss your needs more.
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Aug 7, 2024 8:45:21 AM