Are you spending portion of business expenses on Logistics?
Are you spending a large portion of your business expenses on Logistics? Here are few tips for small business owners ????
- Understand your company’s strategy. If your company wants to make fast delivery, you have to spend a huge amount on logistics. If you are looking to reduce the overall cost of the product, you have to cut down some additional costs.
- Your customers are a great asset. Help them with the best services, help them with queries about status change, increased prices, etc. Have a dedicated platform to help customers get real-time insights.
- The simple rule is “To reduce cost, first identify where are you spending.” Once you have track of your spending, you can cut the unnecessary cost.
- Have a plan. What does it mean? For example, You have some material deliveries, and on the way, you face some uncertainty. What if you face delays and diversions? Hence you must have some plan for any uncertain event.
- Work with third-party logistics companies. Working with 3PL companies gives you the freedom to invest in other key areas of your business. If you think it might increase the cost- good 3PL companies will ensure that you get the best rates, the fastest deliveries, and the most productive warehouse team.
What tip would you give based on your experience?