eCommerce businesses are growing; however, to sustain for a long time a business must adopt some effective supply chain strategies.
An efficient supply chain means faster product delivery, faster return policies, better movement of goods from warehouse to the end customer.Strategy can be defined as fulfilling organization’s long-term goals in alignment with the business objectives and how you plan to achieve them.Supply chain strategies can be defined by answering some questions like:How to reduce labor costs in warehouse while fulfilling orders?How can you offer the fastest delivery in lease time and cost?How to improve inventory control to eliminate back orders?How to increase warehouse capacity for storage?Here are some top supply chain strategies that any eCommerce business can follow in order to grow.Make the Inbound Supply Chain More EfficientGetting the inbound materials and products on time is a major concern for many businesses.
Be responsive to customer expectations and focus on fulfilling orders faster and at lesser cost.
Also, take into account additional costs like additional facilities, staffing, and management.Increase the Capacity of WarehouseMoving to a new warehouse every time is not a solution for increasing the storage capacity.
By addressing these issues, moving to a new warehouse can be delayed.Proper Paperwork and Processing TimeBarcode technology helps you track the activities like “What”, “Who”, and “When” happening in the warehouses.
Implementing barcode technology helps to keep proper records and maintain a good processing time.Manage Labor Force EffectivelyManaging labor costs can save you a lot of money.
The infrastructure that powers the global e-commerce ecosystem is scaling rapidly, and investors are catching up with the trends.
It helps them determine where commerce infrastructure and overall technology stack head.
Read ahead to find how you can plan to build an e-commerce brand of your own!
Thanks to the economic impact of COVID-19, businesses and consumers across the globe increasingly went online – according to UNCTAD global review report – raising the eCommerce share of global retail trade from 14% in 2019 to about 17% in 2020.Even the 2021 data released by IBM highlighted that the pandemic has accelerated the shift toward eCommerce by roughly five years.
Here are certain strategies that DTC brands need to adopt to make the most of this annual shopping extravaganza and drive some Prime Day traffic your way: Engage customers proactively Amazon Prime Day debuted on July 15th, 2015 as a single-day event; but soon expanded in size and scope to become a marquee event to kick off a shopping spree during what is usually a summer season shopping lull.
In 2021, Prime Day is slated to be held even earlier than usual: on June 21st and 22nd.
Running personalized campaigns would certainly help to keep your products and deals on the top of their mind.
Only promote such products that you know will be well-stocked.Review product listings It’s highly unlikely that a shopper who lands on a listing with incomplete product information and low-quality images will be converted into a buyer.
Make sure that product titles, copy and descriptions are accurate, complete, and top-notch to clearly communicate the envisioned message to the consumers.
Check out the powerful ways to grow an eCommerce business in 2021.
Learn how you can use public records, social media, and SEO to improve ROI.
E-commerce businesses have exponentially flourished over the past decade.
With the boom in the industry, so has the level of risk in context to data breach/ theft spiked over the years.
It is therefore imperative for e-commerce businesses to ensure safety and protect consumer data.E-Commerce businesses are expected to create a safe environment for customers providing their payment information to make purchases online.
For the benefit of consumers and to help merchants secure their payment data application, PCI SSC has provided a detailed guideline suggesting the Best Practices for Securing E-commerce.
The information provided will educate merchants and help them in securing payment applications and cardholder data.
Lets us today through this article learn about the recommendations offered by PCI SSC and understand how it will help merchants.
