So, it’s a new year – time for resolutions and fresh starts. Will 2019 be the year you finally get control over your print and marketing fulfillment costs?
There’s no better time than the beginning of a new year to fix the disconnect between the materials you produce and what you actually need. You have your entire budget in front of you; wouldn’t you like to wring the waste out of what you spend on your marketing fulfillment programs?
Out With the Old
Tackling your warehousing and online inventory problems is like cleaning out the attic. You know what I’m talking about. You’re not really sure what you’re going to find there, let alone what to do with it.
In the spirit of the New Year, start by disposing of your obsolete materials.
I know – it’s hard to throw away inventory that represents a sizeable chunk of your previous year’s budget.
But the cost of storing materials you’re not using can mount up quickly, while the cost of using materials that are inaccurate, outdated and/or out of compliance can be huge. Consequences can range from loss of credibility and brand reputation to regulatory fines and penalties. Can your company afford that?
Take Stock of Current Practices
Next, take some time to get a good understanding of your current print and marketing fulfillment practices. What are you spending, where and – critically – why? To answer those questions, you need to review usage patterns for your remaining materials. Take a look at data like:
- Real-time inventory levels
- Orders by stock number
- Average daily use
- Usage by month
- Order frequency
- Seasonal or other order frequency fluctuations
- Days on hand
- Orders by user, department, division and/or region
- Reorder rates
- Review/expiration/destroy dates
- Backorder rates
- Rush reprint and shipping charges
If possible, look at several years of historical data. This analysis will help you pinpoint problem areas and gain insight into which materials you’ll need in the future, as well as those that are candidates for revision or elimination. Usage, order and shipping patterns can also help you decide whether materials are best produced using offset, digital print or a combination of both for greater print management savings.
For more tips on reducing the cost of your marketing fulfillment, download 4 Steps to Optimize Marketing Fulfillment. And when you are ready to start saving on your marketing budget contact Amware Logistics.