Online stores are businesses just like any other, and that means you’ve got risks and liabilities to cover, which has probably sent you to Google looking to see if eCommerce insurance is a thing. While not a specific policy, you can get covered in a variety of ways. The good news is that the booming … Read more
Running a warehouse full of unsold inventory that ties up cash and risks obsolescence creates costly inefficiencies for any business. Traditional inventory management methods often leave companies guessing about demand while capital sits idle on shelves. Just-in-time (JIT) inventory management offers a lean solution. Instead of stockpiling products “just in case,” you receive exactly what … Read more
A shipping confirmation is one of the essential transactional emails for any company that offers product shipping. Together with order confirmation, it helps customers track their orders and check whether everything is fine. An order confirmation email is sent once your customer has made a purchase, and a shipping confirmation is sent after the order … Read more
On October 17, 2018, the Trump Administration announced plans to withdraw from the Universal Postal Union (UPU) treaty. The dispute was about discounted postal rates charged on Chinese packages shipped to the US. The move was part of the administration’s efforts to level the playing field between Chinese and US businesses. The US planned to … Read more
When you start a brick-and-mortar business, you get a business license from the city or county where your operations are headquartered. So, when you start an ecommerce business, do you need an online business license? The answer to that question is complicated. While a few product categories are federally regulated, most business licensing is done … Read more
ShipStation is a web-based shipping platform that helps businesses manage their small parcel shipping and e-commerce fulfillment. It’s how you can get products and purchases to your customers, though it often won’t help with managing your inbound inventory if you are shipping at freight levels. This is a SaaS (software-as-a-service) solution, so you won’t need … Read more
The machine learning algorithms have risen and — sorry, John Connor — but the people are embracing AI in eCommerce because they’re just such good shoppers. Retailers are on board, too, because automation tools powered by machine learning (ML) and artificial intelligence (AI) can make it easier and more profitable to run an eCommerce business. … Read more
Learning how to calculate shipping costs can be some of the trickiest to get a handle on for eCommerce businesses that want to balance customer satisfaction with affordability and margin control. The vast majority of your customers expect shipping to be fast and usually free. To meet those demands, you’ve got to be able to … Read more
When disaster strikes your supply chain, every hour of downtime costs your ecommerce business money. A hurricane shuts down your fulfillment center. A cyberattack takes your website offline. Your key supplier faces production delays. Without a solid ecommerce business continuity plan, these disruptions can devastate your revenue and destroy customer trust. The stakes are higher … Read more
Your company’s inventory turnover ratio is an important metric. A simple inventory turnover formula can help you understand and improve your inventory management. When you get clear about your inventory turnover ratio, you can run your business with smaller carrying costs while you optimize your stock levels. Your inventory turnover rate does reflect whether or … Read more
Economic order quantity, or EOQ, is a formula that helps you figure out the right amount of stock to fill your orders during the year ahead. Economic order quantity helps you reduce the amount of money you have tied up in inventory while ensuring that you don’t run out of products to sell. EOQ does … Read more
The spread of the novel coronavirus forced many brick-and-mortar retailers to temporarily close their doors. Even before COVID-19, many brick-and-mortar stores were struggling. However, the pandemic exposed existing weaknesses in the retail business model and exacerbated them. To make up for lost business, many brick-and-mortar shops took their retail stores online. This is a smart … Read more
