article thumbnail

Ecommerce Inventory Management: Challenges & Solutions

Logistics Bureau

Effective inventory management has become increasingly crucial for businesses in this fast-paced and rapidly evolving era of ecommerce. Moreover, the ecommerce explosion has brought new and unique challenges that complicate inventory management for enterprises selling online.

article thumbnail

Maximize Ecommerce Supplier Relationships

Ship Monk

Whether your business is a small ecommerce startup or a big box retailer, the benefits of supplier relationship management are the same. Of course, it wouldn’t be a business strategy if there weren’t a couple more acronyms to learn. That’s because they know we’ll do almost anything to make their customers happy! We’re here to help!

article thumbnail

FIFO Inventory Management vs. Inventory Valuation for eCommerce Businesses

Ship Monk

If you manage inventory, you’re familiar with the term FIFO, an acronym that stands for First In, First Out. FIFO is the most common inventory management method for eCommerce businesses because selling the oldest units before the newer units helps ensure a consistent turnover of inventory. What’s the difference?

article thumbnail

Everything to Know about Ecommerce Data Security

Ship Monk

Every ecommerce business that becomes a ShipMonk 3PL client is a priority. Of course we’re talking about your ecommerce store’s data security. Why is Ecommerce Cybersecurity Important? Privacy Preventing third parties from accessing private information is a high priority when running an ecommerce store.

article thumbnail

Email Tips for Ecommerce Businesses

Ship Monk

One of the greatest benefits of owning a direct-to-consumer (DTC) ecommerce business is that you get to form a direct connection with your customers. All ecommerce businesses should be engaging in targeted advertising. Of course, what you say is just as important as how you say it. With any relationship, communication is key.

article thumbnail

Weighted Average Cost Inventory Valuation: Is it Right for My eCommerce Business?

Ship Monk

One of the most irksome tasks of owning an eCommerce business is keeping track of inventory—not just the number of units, but their costs. Of course there are eCommerce fulfillment software and inventory management systems that can do this for you, but every business owner should know the basics of inventory accounting methods.

article thumbnail

How to Reduce Ecommerce Returns

Ship Monk

Ecommerce bands, even those with amazing reverse logistics operations in place, feel the negative impact of returns. If your ecommerce brand is dealing with a return then typically one of three things has happened: 1.) Because, as much as ecommerce brands don’t like returns, buyers sure don’t like them either. How, you may ask?