Covering Disruptive Technology Powering Business in The Digital Age

Written By: Tee Kee Lion, Founder and CEO, Store N Go

Warehousing is as integral now as ever before.

China’s rapid advancement in the online consumer goods segment is setting a trend that Malaysia is likely to follow. In fact, the nation achieved a new record of handling 639 million parcels for their ‘Double 11’ sales in late 2023. With the increasing popularity and convenience of online shopping, Malaysian consumers are expected to adopt similar shopping habits observed in China.

With this significant change in consumer behaviour and market dynamics, businesses in Malaysia must adapt their strategies to meet evolving consumer demands and expectations, both in terms of convenience and efficiency.

One of the most important factors to consider in this shift is Malaysia’s warehousing capabilities. With the e-commerce logistics market in Southeast Asia projected to grow by USD $85.12 billion between 2023 and 2028, it comes as no surprise that the Greater Kuala Lumpur Property Market Monitor 2Q2023 revealed strong and sustained demand for warehouse space. To cope with this level of expansion, businesses must think about adopting effective and efficient warehousing systems and solutions.

Primarily, according to Store N Go’s warehouse management systems (WMS) database, we processed more than 4 million parcels in 2023; while a remarkable achievement in itself, it is a far cry from China’s capabilities. Here, we will take a closer look at how warehousing solution providers can help Malaysian businesses progress further and faster in the retail race.

Seamless Technological Integration

Tee Kee Lion, Founder and CEO, Store N Go

Human errors are inevitable in manual sorting processes, leading to inefficiencies and potential mistakes in order fulfillment. By automating this process, companies can improve accuracy, speed, and overall efficiency in their warehouse operations. Cutting-edge WMS can now integrate technologies like RFID and barcode scanning for precise inventory tracking and real-time stock visibility, allowing companies to streamline their logistics operations immensely.

Additionally, WMS should be able to seamlessly integrate with retailers’ existing technology stack, including e-commerce platforms, ERP systems, and logistics software. This allows for data synchronisation and automation, further enhancing operational efficiency, which in turn has the added benefit of reducing operational costs.

An Extra Eye, A Helping Hand

Working alongside a warehousing fulfillment solution company also provides room to breathe in terms of the safety and security of stored goods. With tools like 24/7 surveillance and controlled access, retailers can have peace of mind knowing their inventory is protected. Furthermore, retailers can rely on having the necessary assistance and guidance to maximise the benefits of their warehousing solutions through dedicated customer support and account management services.

The Warehousing Solution Grows with You

Warehousing solutions providers also allow for a decent level of flexibility when it comes to cost and scale. With warehouse spaces that now allow retailers to only use and pay for exactly the space they need, this provides companies with the opportunity to worry less about the expansion of their back-end processes as their operations increase.

This customisable model has the added benefit of lowering the barrier for smaller players in the retail space, as they now have access to these resources without the hefty upfront investment. This democratisation of access to warehouse space levels the playing field in the retail sector, fostering competition and innovation from businesses of all sizes. Ultimately, it creates a more diverse and dynamic marketplace where smaller retailers can thrive alongside their larger counterparts.

One-Stop Shop

The retail industry in Malaysia is experiencing a significant change towards simpler and more efficient solutions for customers. Companies are realising the importance of providing all-in-one services to make shopping easier and meet changing needs. By bringing together different services or products in one place, businesses aim to make processes simpler, reduce the number of steps customers need to take, and improve overall efficiency.

This shift aligns with the increasing desire among consumers for smooth shopping experiences, showing how the industry is responding to changing preferences and making sure to meet customer needs. It reflects an industry-wide commitment to adapt to evolving behaviours and expectations, emphasising the importance of staying in tune with customer demands.

In sum, it is safe to say that warehousing and fulfillment solutions are now integral to Malaysia’s evolving retail sector, driven by the increasing consumer demand for seamless shopping experiences. Companies are increasingly investing in warehouse storage and fulfillment services in a bid to meet the needs of their customers and stay competitive in the market.

This trend underscores the importance of adaptability and innovation in the retail sector, as companies strive to remain relevant and meet the evolving needs of modern consumers.

(0)(0)