Sorted by Tag: Supply Chain Management
The implementation of dimensional (DIM) weight pricing by the parcel services shook up shipping forever. The new algorithm no longer charged businesses to ship based on how much their packages weighed, but instead by how much space they took up in their trucks.
Overall, this generally increased the prices for shipping—eating into margins for eCommerce sales. Not only was the new pricing model expensive, but it was more complicated. There’s math involved, and if you really want to ship as cheaply and efficiently as possible, you probably need to spend some time playing around with box sizes and what products can fit where to get the best deal.
However, just when you thought you’d cracked the code to DIM pricing, the parcel services are shaking it up again. They realize that they’re in a lucrative industry. As your eCommerce business booms, so does their business. They’re changing the algorithm, and ultimately, it’s going to cost you more.
Luckily, we have all the information you need to tackle this head on and hopefully turn it around in your favor. (more…)
If there’s one improvement you make to your online business this year, consider making it to your reverse logistics.
According to the National Retail Federation, merchandise returns cost U.S retailers more than $260 Billion in lost sales.
Returns are inevitable for merchants. They can’t be avoided. Instead, merchants should take the opportunity to use reverse logistics to increase sales and customer loyalty. Your returns process is a crucial part of the customer experience, and it is time you start treating it as so. (more…)
We’re coming off a record year of eCommerce sales. This drives another record, record returns after the holidays. This week we’re reading all about reverse logistics and how retailers deal with returns. (more…)
We’ve covered a wide range of eCommerce inventory management best practices, like considering dropshipping, centralizing your inventory and handling product variants. However, each of these best practices come together for a more fruitful inventory management strategy when you have metrics to back your choices and help you make decisions for the future.
That said, all companies are different in the ways they handle inventory management. Therefore, a non-profit is going to have completely different inventory goals compared to a for-profit business.
However, what brings them together is the idea that keeping costs low is the main objective. Combine that with the target of making your customers feel good and you’ve got yourself a solid inventory management strategy, for both eCommerce websites and physical retail shops.
After all, your customers are the ones that are going to receive your inventory, so if they get the inventory late, or they buy an item that’s out of stock, or the inventory looks like it’s been stored under a pile of rocks in a basement, you’re going to have trouble keeping those profits high to eventually find better ways to lower your costs.
Since both customer experience and cost factor in so much with inventory management for every business, let’s take a look at the most promising metrics for inventory management that cater to these two areas. (more…)
Your business is growing. You realize you need a robust backend system like an ERP to manage your processes.
There’s many different types of ERP systems available. How do you evaluate different ERP systems for the one that’s best for your multichannel retail business?
This article will help you choose an ERP that supports specific multichannel retail requirements that meets your customers’ demands. (more…)