How Third Party Logistics Suppliers (3PL) are Benefiting from Inventory Apps in Singapore

Third-party logistics suppliers include those involved in the supply chain, transportation, online retail platforms, drop and ship, labelling and co-packing services, and warehousing. Large corporations rely on the services of third party vendors to help in the smooth running of the organization. In a bustling business city like Singapore, most of these third-parties, even though they are independent companies, have a mutual relationship with the companies they work with. Inventory apps are essential in 3PL, especially those that work with multiple companies. Without inventory software, these companies would not have flawless operations.

Pre-shipment consolidation

Companies that are responsible for shipment of products from other companies need inventory apps to help organize shipments based on delivery dates and destinations. To avoid confusing one package and another, third party suppliers use inventory apps to capture all the necessary information. The software used has aided in simplifying work and improving the trust between companies and third-party suppliers.

Chain inventory management

 3PL suppliers are part of supply chains. Singapore inventory apps provide integration opportunities to link suppliers, 3PL, and the main company’s back office systems. The third party’s logistics system may also be integrated to allow companies to monitor the movement of goods and find out if the delivery was successful before closing a transaction. The company and suppliers can also monitor the availability of products and plan to restock based on the company’s need and sales. This integration ensures the supply chain works efficiently without one party suffering due to the negligence of another.

Up-to-date & accurate financial reports

Inventory apps help third party suppliers to monitor their finances effectively at any given time. Instead of waiting for detailed accounting reports, business owners can see at a glance how the company is fairing financially and the response other service providers have towards the service provided by the 3PL. The use of inventory apps also provides integrity to the transactions.

Plays a critical role in information sharing

Sometimes, companies that rely on one another for service delivery have conflicting information, especially when it comes to debts and delivery deadlines. Using an inventory app allows all the companies involved in the supply chain to be integrated. All parties involved have the opportunity to look at the information on the same system. This system has helped to reduce conflicts arising from misinformation and poor record keeping.

Prevents wastage

Third party suppliers, especially those in the B2B supply chain, are concerned about wasting money on investing in items that do not sell well. Besides the wastage of finances, having these items occupy space that would have been taken by marketable products is a problem. For example, those who supply items in bulk at wholesale price need to maximize the use of their warehouses by stocking products that are marketable to retailers and their clients.

 

Most businesses work as part of a chain, with each depending on the other for income and productivity. Inventory apps and systems are now necessary for businesses to help in the organization and proper management of their transactions. This system has improved the relations between the various companies in the same supply chain since the integrated system provides authenticity to the independent running of the multiple companies involved.