Online marketplaces, both large and small, have become enormously popular in recent years, driving VC investment, acquisitions, and IPOs, as well as tech investment for payment solutions, site personalization and recommendation engines, and advertising. Perhaps the most critical component to sustained success is also the most-often-overlooked: order fulfillment as a chief driver of customer satisfaction.
In his latest article at Forbes, Logistyx President Ken Fleming examines current fulfillment approaches for various marketplaces, how technology can improve the process while also easing the burden on sellers:
“Technology can help counteract [rate] increases in several ways. It can aid sellers by helping identify the best and most cost-effective carrier service based on business rules; it can audit historical shipping data to uncover efficiencies, new carriers, or services; and it can monitor every shipment to ensure carriers perform services as contracted and flag discrepancies, offering invaluable data for billing accountability and rate negotiations.
Technology can ease the burden on sellers by automatically providing shipping options to buyers at checkout, including an array of carriers and service levels, automatically generating the correct label for the seller and providing end-to-end tracking information and alerts about problems while in transit to manage off-track shipments.”
Read Ken’s full article, “Online Retail Marketplaces Must Lessen The Fulfillment Burden On Sellers To Stay Competitive,” to find out the questions marketplaces must answer for a successful technology implementation and how it can set them apart from the competition.
While visiting Forbes, be sure to read Ken’s other articles.