One of the best aspects of modern life is being able to have just about any product delivered to your front door. What makes this even better is that many sellers offer overnight shipping. While overnight shipping isn’t cheap, it can be incredibly convenient when you need or want to get your hands on a … Continued
Sustainability in business is one of the most important considerations for any growing company. There are many different facets of business sustainability; all of which focus on the long-term impacts your business has on the world around them. Sustainable business practices have a positive social and environmental impact, but they also help your company remain … Continued
For new companies, one of the biggest challenges is standing out in a competitive market. Penetration pricing is one strategy that you can use to make a splash and draw in new customers. While this strategy can be very effective, it also has some downsides, especially if it is not implemented correctly. Here’s what you … Continued
The EOQ formula is an essential part of any inventory management strategy. EOQ, or economic order quantity, is a formula designed to optimize your ordering strategy and minimize costs. Many businesses use inefficient strategies when reordering products for their business, which wastes both time and money. Using the EOQ model for inventory streamlines the process … Continued
The Walmart supply chain is one of the most successful in the entire world. For Walmart, a robust supply chain is not only helpful, it’s essential to the success of their business. Walmart is one of the largest retail companies in the world with over 10,000 stores worldwide; under several different brand names. Walmart’s fulfillment … Continued
Developing an effective inventory management system can be incredibly challenging. You’ll need to make sure you have enough stock to fulfill all of your orders, provide excellent customer service, and keep your cash flow up. In order to do this, you’ll need to develop a safety stock formula. Many retailers will just guess how much … Continued
Delivered duty paid, or DDP, is a type of shipping agreement that is most often used for international deliveries. In a DDP shipping agreement, the seller assumes all of the financial obligation, legal risk, and responsibility for the shipment until it reaches an agreed-upon international destination. This type of agreement was developed by the International … Continued
