Drop shipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers the customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.
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Since my business began to expand and develop, and we needed a large warehouse to store products, we also needed modern technologies that allow us to at least partially automate the workflow. Among all the options that I managed to find, automated guided vehicles in warehousing and related software provided by deus robotics attracted the most. I advise you to learn more about these solutions.
07 Jun 2019
Co-founder at Seedly
Gonna help a friend answer (saw his answer on the group):
Question from a friend:
Actually like to ask friends who managed to read this post. What do you all think about the ecommerce space? Can you still buy things in from Taobao and sell? Does it work?
I use to do this alot. and my learning points are:
4. There a few ecommerce models.
4.1 Bring in, stock up, sell. 4.1 brings in highest margins with the greatest risk(stuck inventory). and requires larger capital. 4.1 Characteristics: Limited to low SKUs. Say no to t-shirts/shoes(too many sizes). Seasonal products, like handphone cases(gets outdated fast).
Keep no stock. Mid-risk. Low Margins. You're in the commodity business. Sales goes through you. You keep the data. You handle the money. 4.2 Common cause of death. CAC > Profit Margin. 4.2 Medium risk = if your supplier doesn't ship, you bear the cost, you are liable. 4.2 is better than 4.3 Because you keep customer data.
4.3 Affiliate Marketing
Keep no stock, take little risk, you can sell 1million items. You direct traffic to supplier, they close, they own the data, they take the money. You get a commission. Usually the simplest way to get started. Chances of success ultra low = there's plenty of other affiliates.
Summary: We're definitely transitioning into ecommerce, but those fly by night classes that says it's as easy as it seems, really aren't true. you need to put in a ton of work to make it really work in a way that it's worth your time.
Jonathan Chia Guangrong
05 Sep 2018
SOC at Local FI
Can be profitable last time on Amazon (before they changed the rules). But returns can be a killer, ...
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