1. Get serious about managing inventory. Inventory represents the majority of your capital. Leading analysts report globalization, longer supply chains and expensive raw materials put more and more upward pressure on inventory; while the majority of industries are dictating shorter lifecycles. With market forces leaving so little margin for error, serious consideration should be given to adopting inventory management software (e.g. Fishbowl, NetSuite, SAP Business One, etc.). These solutions support tracking and control of inventory, help facilitate efficient drop ship fulfillment—a rising trend in the omnichannel environment; and provide some of the intelligence you need to optimize inventory processes.
2. Audit your EDI. All EDI applications are not created equal, and omnichannel success requires maximum efficiency. Make sure your EDI solution provides automated compliance, batch processing capabilities, key drop ship functionalities such as custom packing slips and integrated shipping, an easy-to-navigate interface, as well as the ability to integrate with other supply chain applications. If your EDI provider does not offer such streamlined capabilities, consider switching to one who does.