Consumer electronics logistics is quite different from logistics for other industries; it’s fast-paced, requires special handling, and is a complex, multi-million dollar industry.
In particular, the consumer electronics market is a rapidly changing and volatile industry. With new product lines and technology introduced each year, companies must be prepared to handle products with increasingly short lifespans. You need to ensure that your consumers won’t turn to your competitor and your logistic plan will need to prioritize inventory; specifically, be prepared for new products, keep selling current stock, and be quick and efficient with everything you are doing.
1. Adopt a suitable supply chain model for you and begin optimizing your orders and inventory early on.
It may sound like a no-brainer, but having the optimal supply chain for the electronics you are handling is critical. Consider having supply chain managers that can begin analyzing and provide insight on supply requirements.
Handling technology requires technology. Consider adopting AI and machine learning to forecast more accurately.
2. Have complete end-to-end visibility from manufacturing to final consumer shipment.
End-to-end visibility allows you to track your products in each stage of the operations process from manufacturing to delivery. This tactic will enable you to monitor your electronic products, ensure that they follow the production timelines, and have a clear route. By doing so, you can identify any potential errors in the electronics logistics. It is the best method when it comes to reevaluating your current mode of logistics and finding ways to be more efficient.
Having end-to-end visibility is also helpful for international logistics. It can become overwhelming and challenging to monitor all products coming from different parts of the world. Consider installing Internet of Things (IoT) devices to help track individual shipments and transporting.
3. Find effective ways to sell old stock to create more inventory.
When new electronic products are released, older model electronics very quickly decrease in value. It is vital to ensure that unsold electronics are being monitored and reported, allowing companies to identify potential causes as to why these goods are failing to sell. If the reason is due to poor quality or cost, it may be beneficial to track the manufacturing flow and determine ways to improve it.
Unsold goods can also provide insight into future electronic products that may also fall into the same category. This can be an effective way to avoid repeating similar mistakes.
McKenna has extensive experience in working with consumer electronics products
At McKenna Logistics, we understand that businesses are all unique and are constantly changing. Our team of logistics-consulting professionals are dedicated to understanding your needs in order to create an optimal warehousing and distribution system.
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