E-commerce has ushered in the modern-day gold rush.
In the US alone, e-commerce sales are tipped to hit over $563 billion by 2025, while global e-commerce will account for 22% of retail sales by 2023. 🔥
But with the e-commerce market also growing increasingly competitive, you’ll need to do something special to stand out from the crowd.
That’s where supply chain optimization comes in.
Status Before Flieber (July 2019)
Whether you love fashion or not, there’s no doubt buying and selling apparel can be a lot of fun. But forecasting?
That’s a whole other issue.
Ah, inventory management. Though we hate to admit it, it’s the one area of the business most ecommerce entrepreneurs would rather not think about.
We’re not going to sugarcoat it. Managing inventory is hard — and nailing your forecast accuracy? That’s probably the hardest part of all.
From varying lead times to unforeseeable supply chain issues, it’s no surprise so many e-commerce retailers struggle to balance stock levels.
No matter how long you’ve been in ecommerce, nothing will derail your progress quite like poor inventory management.
One minute your best-sellers are flying off the shelves, the next you’re out of stock with rankings and revenue slipping fast—and strange as it may sound, the very processes you’ve put in place to control your inventory, may be the very same ones draining the profit from your business.
If you’ve been in the e-commerce game for long, you already know you need an inventory system to help avoid stockouts, boost revenue, and dominate your niche. But despite the vast number of tools that claim to solve problems, very few of them are actually focused on real smart inventory optimization.
Selling in the USA has become ultra-profitable over the years, But there’s a knack to making it work. Join us as we share the secret recipe
If you’re an ambitious eCommerce entrepreneur, there’s a growing list of reasons to add the US to your selling location wish list.
High sales velocity and enough stock to service it is every online retailer’s dream—and these two levers (sales and inventory) must work together like a well-oiled machine in order to achieve it. Sounds simple, right?
So, why is it that so many sellers still suffer from costly stockouts?In 2016, retailers lost an estimated $1.75 trillion due to stockouts, overstocks and returns. With the recent growth of retail, this number may well be close to $2 trillion today.
As an ecommerce entrepreneur, you’re constantly spinning multiple plates, hoping none of them fall and smash.
These are often mission critical tasks like marketing, sales, and product development—things that directly affect your financial success. So, it may seem like a waste of time to spend your energy on backend tasks like improving your inventory optimization.
