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2021 Strategies for Inventory Management and Supply Chain Recovery

EazyStock

In a perfect world, supply chain managers would be able to foresee every possible risk and threat to their supply chain and have a strategy prepared to successfully address any challenges when the moment came. Optimize Inventory. Start with a detailed overview of what inventory is currently in your supply chain.

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How to Calculate Beginning Inventory and Why You Should Track It

Ship Monk

There are a lot of accounting terms thrown around when describing eCommerce inventory: merchandise inventory , WIP inventory , ending inventory , and beginning inventory to name just a few. What is Beginning Inventory? By inventory , we mean finished goods that are on hand and ready to sell.

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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! How often does inventory need to be replenished? 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% 1 Plan Ahead… Way Ahead. Slice of cake. Fruitcake. #2 What did you learn last year?

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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. Others take an educated guess and hope for the best, which isn’t a strong strategy either. 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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What is a Logistics Service Provider?

Ship Monk

In the world of eCommerce, that proverb certainly holds true. But what is this mysterious entity in the eCommerce world? To get the basics on logistics service providers, and learn how they can take your eCommerce business to the next level, keep reading! Skeptical about handing your eCommerce business to a bunch of strangers?

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Lessons Learned from Black Friday/Cyber Monday

Ship Monk

Will the huge growth in ecommerce sales continue, or will the numbers fall back to “normal” pre-pandemic levels? Mature ecommerce businesses use every source of data they can get their hands on, from shopping platform analytics to inventory and fulfillment platforms. Did you run out of inventory? Opinions on this vary.