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Customer Relationship Management for Ecommerce Brands

Ship Monk

With most ecommerce businesses, however, the sales pipeline isn’t nearly as long or as hands-on. Today’s CRM platforms have adapted and expanded their tools to meet the needs of ecommerce businesses. Let’s take a look at CRM systems, the tools they provide, and the benefits they offer to ecommerce businesses.

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Demand Forecasting 101: Everything eCommerce Businesses Need to Know

Ship Monk

For an eCommerce business owner, the answer is obvious: How the heck do I get a handle on my inventory management ?! Keep reading to learn what demand forecasting is, why you need it, and how to implement it into your eCommerce strategy! If you had a crystal ball, what is the first thing you would ask? What is Demand Forecasting?

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Black Friday & Cyber Monday Prep: A Checklist for Ecommerce Business Owners

Ship Monk

If that sounds like you, then you’re probably an ecommerce business owner. While ecommerce has experienced boom after boom, 2022 has proven to be an interesting year in its already storied history. Ecommerce growth is expected to be up about 2.5% 4 Reassess Any Issues Within Your Current Ecommerce Operations.

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Economic Order Quantity (EOQ) Formula for eCommerce Inventory Management

Ship Monk

Learning how to manage inventory is one of the biggest challenges of owning an eCommerce business. Let’s say your eCommerce business makes cotton baby blankets. For this eCommerce company, placing 4 orders per year (i.e. For this eCommerce company, placing 4 orders per year (i.e. But let’s get real.

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Why automation is the next step in your dispatch optimization journey

Locus

Take the example of last year’s holiday season. For each batch of incoming orders, dispatch software can factor in real-life constraints such as traffic, distances, the timing and priority of the delivery, among others, to come up optimal dispatch routes. Consumers also understood that each e-commerce provider has several competitors.

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How to Calculate Inventory Holding Cost or Carrying Cost

Ship Monk

Remember when you were managing your eCommerce business out of your garage? If you’re like most eCommerce business owners, you have a general idea of what carrying costs are, but you wouldn’t be reading this if you didn’t have a few nagging questions—like, which is it, carrying cost or holding cost? So what exactly is holding cost?

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What Are Reorder Points and How to Calculate Them

Ship Monk

You’ve done the hard work of building your startup into a successful ecommerce business. The good news is that there’s an easy formula ecommerce businesses can use to calculate the optimum reorder point for each SKU in your product line. Ecommerce businesses of all sizes can use reorder points to optimize inventory levels.

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