Drop shipping is a lucrative ecommerce business model which is growing at a CAGR of 23.7%. The key to a successful drop shipping business is mastering the multi-layered task of managing the finances appropriately. This makes it absolutely crucial to know your numbers. Here are 9 useful tips to help with all things finance related.
Too often, ecommerce marketplaces are looked at like a new feature, such as adding search capability. Thus, the marketplace project is not set up to overtake the main business, but pitched as a 12-24-month project to so many vendors.. The perspective is inside out. It’s rarely done outside in, from a customer-first point of view.
Dock-to-stock time is a KPI measuring the time from receipt on your dock to a pickable or bulk reserve location. The process involves aspects of purchase order writing, inbound transportation, receiving, staging, inspection and put away. Here’s eight steps to help you assess your processes, identify problems and lay out an action plan.
There is no end to the process of reducing labor, saving time, making better use of ecommerce fulfillment center space and reducing costs and errors. To be competitive, flexible and survive in these turbulent times, continuous process improvement is critical. Here are 9 steps to consider when implementing this type of program.
Vendor compliance is achieved when a merchandise vendor shipping a retailer’s purchase order satisfies the retailer’s requirements, typically specified as a condition of the retailer-vendor relationship and the purchase order negotiated by the retailer. Here are 9 tips to help you develop a successful vendor compliance program.
If your fulfillment is unchanged in the past five years, chances are your DTC competitors are changing systems, increasing productivity and lowering costs. Here are 5 ways your competitors are planning to beat you this year.
A good vendor compliance policy will help your organization improve its on-time performance and reduce the time and money spent on warehouse rework (e.g. prepackaging, correcting vendor errors, etc.), while reducing time spent on vendor disputes, claims and chargebacks. Here are some tips to help you create a vendor compliance policy that will ensure smoother working relationships while eliminating costly issues.