How can marketplaces increase order fulfillment rate?

Online retail owners have started to realize the importance of customer satisfaction levels have to be maintained at any cost!! It is evident that effectively handling order management and fulfillment process is the key to survival for any retail enterprise.

How can marketplaces increase order fulfillment rate
Boost order fulfillment rate by adopting below steps:

Make integration partners

By knowing your sellers inventory in real-time, marketplaces can eliminate costly errors and increase fulfillment rate like never before. Sellers may have listed their catalogue at 10 different webstores, to make sure they don’t run out of stock its important to encourage them to use a tool which helps them track their inventory and orders in real-time and updates stock levels across all the webstores they are selling at. Tie-up with an inventory management system which will help to increase fulfillment rate drastically. Orderhive, a multichannel order and inventory management tool provides integration with leading marketplaces and shopping platforms, which will allow sellers to streamline their back-end operations.

Automatic routing of orders

Many of the marketplaces offer integration with third party systems when it comes to order management and fulfillment, however when an orders comes in for a seller to fulfill, marketplace should ensure that an automatic email is sent to the sellers so even if they don’t check the seller panel, they can keep tab of their orders through emails which will result in quick response.

Control quality of sellers

Marketplaces enables offline sellers to offer a much wider range of products (much more and in an organized way than what it can stock on its own). Customers do get a lot to choose from and creates depth in categories, but at the same time its essential for marketplaces to constantly check and analyze which sellers are doing them good. Also, enrollment process for the sellers should be lot more stringent to make sure they fulfill orders without any hassle.

Reduce shipping cost

Marketplaces offers a variety of shipping option, hence business owners has an ability to compare and opt for lower shipping costs with preferred rates from selected carriers that you may want to continue in future. High shipping costs can demotivate sellers and decrease their revenue, however some practices like smart packaging can ensure low shipping costs for the marketplaces, so by adopting that they can keep the sellers happy as well.

Charge for cancellation

Charging cancellation charges actually helps sellers to be more efficient about fulfilling an order as its taken upon as an unnecessary expense in their overall budget. So charging cancellation rate around 3-5% rate can increase fulfillment rate.

Conclusion 

Managing orders is complex but one of the crucial processes a business owner has to manage. The world of eCommerce has seen a drastic change at a very rapid pace. To be able to keep up, not only customers, but with the technologies that are constantly changing is important to success. To end with, leading marketplace integration service helps you meet all crucial business needs, enhances efficiency, integrates with all your business needs and able to scale so you can increase order fulfillment rate.

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