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
There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product. They all amount to the same thing — your merchandise is missing from the warehouse shelves. For businesses that sell physical things, some amount of shrinkage is unavoidable. At point of sale, stores can experience retail shrinkage from breakage and shoplifting. … Read more
In an ideal world, your ecommerce would have a return rate of zero. However, returns are unavoidable when you sell online. That’s why you need a robust reverse logistics operation. Return rates for ecommerce shops are more than double the rates for brick-and-mortar stores. How you handle ecommerce returns could make a big difference in … Read more
You might not have heard of cross docking, but it just may be the solution to your ecommerce fulfillment problems. This is a time when many online retailers are facing difficulty in keeping products in stock. Cross-docking can help your business ship orders faster and more efficiently. This year has brought a steep rise in … Read more
Logistics has become increasingly sophisticated. The current worldwide crisis has put supply chains in the news. However, the role of outsourced logistics in the supply chain hasn’t been fully explained. Most people may have heard of 3PL, 4PL, 5PL, and beyond. Still, you might be unclear on what each level of logistics services entails, and … Read more
The Net Promoter Score is a proven method to determine customer loyalty and satisfaction. According to CustomerGauge, the average NPS for logistics companies is +38. Transportation and logistics companies benchmarked on Customer Guru showed an NPS range from +8 to +11. Red Stag Fulfillment first did a Net Promoter Score survey in December of 2017. … Read more
Short Answer: You are very unlikely to get coronavirus from a box or package you order online. COVID-19 has spread across the globe with alarming speed. In this rapidly-evolving situation, it can be hard to know how to keep your family and your community safe. The coronavirus pandemic has put a strain on supply chains, … Read more
Your customers have two basic questions about your eCommerce shipping: When will my order arrive and how much do I have to pay for shipping? You need to provide answers that will generate orders and repeat customers. To do that, you have to understand an array of shipping choices. Same-day shipping, two-day delivery, and overnight … Read more
