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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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Inventory Discrepancy: What It Means & How to Avoid It

Ship Monk

If you want to strike fear into the heart of an ecommerce business owner, say the words, “inventory discrepancy.” Unfortunately, inventory discrepancies are a common occurrence in many ecommerce businesses and fulfillment warehouses. We know this, because they’re usually the reason ecommerce businesses turn to us for help.)

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Bringing Order to Chaos: Last-Mile Delivery Costs and How to Reduce Them

Locus

Customer satisfaction and keeping costs in check rests on optimal last-mile delivery operations. The question then is: how can companies maneuver this intricate, costly maze successfully? Read also: How to Calculate the Cost of Transport 2. Step into the world of last-mile delivery, the unsung hero of the e-commerce world.

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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 last thing you want is to run out of your bestsellers, but how do you know when to order more? 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.

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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?

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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. Most of these methods rely on past sales data, future forecasting, or a combination of the two to help inventory managers predict how much inventory they’ll need. Let’s say your eCommerce business makes cotton baby blankets.

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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?