StrategyDriven Managing Your Business Article |Inventory Management|Inventory Management Options for E-Commerce Businesses

Inventory Management Options for E-Commerce Businesses

StrategyDriven Managing Your Business Article |Inventory Management|Inventory Management Options for E-Commerce BusinessesInventory management is central to business success; you need to get the balance right to future-proof the business and ensure that you stay profitable. If you are new to inventory management or you need a refresh, read about the fundamentals of inventory management.

Safety Stock

E-commerce businesses across the board need safety stock to cover any unexpected occurrences, In recent times, panic buying has led to issues with stock and revenue streams, so it’s important to understand the threats to your business and improve overall resilience.

There are various ways to manage your safety stock. If you work with wholesale products, you can negotiate terms with your manufacturer to ensure you have enough products to cover over or under-buying. Learn more about How to Inspect Your Inventory for your future success.

Balanced Inventory

So much of business success comes down to balance, and a balanced inventory is central to any success. A balanced inventory is simply having enough stock in reserves to serve customers but not having so much of it that you will have to liquidate the company short term.

Again, having a balanced inventory is all about knowing your target audience inside out; you have to understand the dynamics of the business to make smart choices about your inventory management. The more data you have, the easier it is to cover demands and future proof.

Kitting Technique

The kitting technique is a common way to manage stock online and offline. If you have too much stock in reserve, you can put two items together and offer them as a deal. These are typically buy-one-get-one-free offers that allow you to trim back your inventory and offer deals.


The kitting technique is a win-win situation that can be used to boost your brand and trim your stock; it is often used after busing seasons, such as Christmas when businesses need to offload a lot of unsold stock. That said, the kitting technique can be used at any time for a sales surge.

Future Stock

Stock management is a key component of e-commerce businesses, especially ones that manage their own stock. Get this process wrong, and it can cost the business substantially, get it right, and you strike the right balance that grows the business in a controlled kind of way.

In order to predict future stock, you need to understand what you are selling and when. Tracking sales is the best way to gather this data and make future predictions about what you need in your inventory. As you can imagine, it is better to overstock and sell items in a kitting sale.

Smart Storage

Smart storage solutions also need to be considered for the business inventory. The stock needs to be located in a place that is easy to reach and safe to keep valuable items. Make sure your storage space is clean and dry to protect your stock; many small businesses use self-storage facilities for their stock because they are secure, dry, accessible, and can be reasonably priced.

StrategyDriven Online Marketing and Website Development Article |Company Online Presence|5 Steps To Modernize Your Company's Online Presence

5 Steps To Modernize Your Company’s Online Presence

StrategyDriven Online Marketing and Website Development Article |Company Online Presence|5 Steps To Modernize Your Company's Online PresenceNo matter who you are, you need to find ways to increase your brand’s online reach, and you can choose things like promotions and content. But, if you haven’t focused on the impact of your online image for a while, you might find that it is outdated. This could mean that many competing companies have passed you by, making it difficult to gain a foothold in your industry. If your online presence feels outdated, now is the best time to make crucial changes, so consider these five steps to modernize your company’s online presence.

Work With Design Agencies

You may have plenty of knowledge about your industry. But if this doesn’t revolve around web design, you are better off working with external design agencies who can visit office locations to get an idea of the type of vibe you want to present. From here, these agencies will be able to discuss your needs for your website and other platforms so they can create an easily recognizable image for your brand, clean up your website and social media pages, and make sure your company looks like one that belongs in the modern world.

Check Your Information Is Accurate

All companies must ensure their contact information is up-to-date on their website and search engines. However, these changes are often a low priority, especially when considering other essentials. This can mean that office hours and other details are ignored. But, customers will lose faith in your brand if they cannot locate you, so quickly checking that all your information is accurate (and changing it if it isn’t) is an easy step to help modernize your brand.


Keep Styles Consistent

Consistent styles across all platforms will make your company immediately noticeable. This means using the same font and color scheme. You can also use the right tone with your written content. If you prefer to engage customers through excitement, big and bold words and images are vital. If you prefer a more sophisticated approach, look for understated yet classy images and fonts that will garner interest from your desired customer base.

Maximize Online Resources

There are plenty of online spaces you can occupy, and ignoring the potential of these means your company could fall behind. Social media is the most obvious resource, and you need to make sure you spread your influence across as many areas as possible. This means regular posts on all popular platforms to maximize your chance to reach the right people.

Match Your Audience’s Needs

Creating relevant content that meets your audience’s needs is a fantastic way to drive engagement and prove that you have successfully modernized your approach. You need to understand current content trends, as this makes it easier for you to adapt and stay in the conversation because if you aren’t saying something, you could be forgotten about quickly.

Modernized

A modern business will always be more appealing to the latest generation of consumers. By ensuring your online presence is clean and contemporary, you can make your company stand out as one worth looking at and frequenting. In doing so, you’ll boost your profits and your reputation to make your company one of the leaders in your industry.

4 Reasons Your Staff is Lacking Productivity

When it comes to productivity, your team is only as strong as its weakest link. So it’s crucial that you make sure everyone is on board and doing their part in order to reach maximum efficiency as a team. Before you can get to this point, however, you have to find out where the kink in the hose is.

Once you identify the reason for your lack of progress, you can make adjustments where needed. Here are some of the most likely reasons why your staff isn’t where it needs to be, and what you can do to remedy a productivity issue.

Unspoken Frustrations

Even though all of your team may be completely professional, humans are still emotional beings. If your team has a poor working relationship with each other, then they’re going to have low morale. It’s important that you keep your team motivated, and encourage communication among staff. If there are any issues coming up, make sure that they’re addressed immediately so that you can identify any work-related frustrations.

One of the best places to start is having a meeting so that you can go over any pending issues that need to be discussed as a team.

Lack of Praise

If staff members feel like they’re not being recognized for their efforts, then it won’t motivate them to continue working hard. Besides monetary reward, employees also require verbal encouragement and recognition.

Make sure that you bring up a job well done in front of the entire team. When you can praise your employees openly, you’ll give them a sense of value that keeps them inspired to continue delivering their best work.


Poor Leadership

When working in a group environment, it doesn’t matter how strong each individual is at their job if you don’t have a strong leader behind them. A strong manager is essential for keeping everyone on task, and delegating roles based on individual strengths.

As a manager, it’s your job to make sure everyone is fulfilling a role they’re best suited for. After all, half of the battle is delegating to the right people. If everyone is playing to their strengths, then you’ll move much faster with fewer issues that come up as you go.

Time Lost on Manual Tasks

It’s crucial that you’re constantly striving to look for new updated ways to get work done. Sadly, many teams are stuck in the past when it comes to manual processes. If your team is wasting half of their day on tasks that could be done with software, then it’s time to start thinking about an upgrade.

Automation software can save your team hours of manual work per day, and free up your schedule so you have time to focus more on what matters at your business, like forming new ideas and customer relationships.

StrategyDriven Risk Management Article|Car Insurance|Is There A Grace Period For Car Insurance When Buying A Used Car?

Is There A Grace Period For Car Insurance When Buying A Used Car?

StrategyDriven Risk Management Article|Car Insurance|Is There A Grace Period For Car Insurance When Buying A Used Car?Car insurance policies are necessary to have if you want to legally drive a car. Every state has its law on car insurance policies. Some states require you to only have liability insurance to drive a car. Some states require you to get a personal injury protection plan as well, while some require you to get uninsured motorist coverage as well.

When it comes to new cars that you buy from dealerships, you cannot skip the mandatory auto insurance policies in this case. You’ll have to show the dealership proof of insurance (that you own liability insurance, personal injury protection, etc) to get the keys to the car.

But what about used cars? Cars that you buy from private sellers who are not at all enthusiastic about checking your auto insurance policies? Do you need auto insurance policies in that case? Is there a grace period for car insurance when buying a used car? We’ll describe in detail everything you need to know about it, along with ways you can save money on auto insurance policies.

Car Insurance for Used Cars

While new cars when bought directly from dealerships require you to have all the necessary auto insurance policies before they let you take the car. Driving any vehicle without the proper insurance is illegal and will get you both legal and financial issues.

The same goes for used cars. No matter how you buy the car, either from the dealership or from a private seller, you’ll need to have all the mandatory auto insurance policies to drive the car. The only difference when buying a used car is that you do not need any proof of insurance.

Is there a Grace Period for a Used Car’s Auto Insurance?

There are two cases to consider when someone buys a used car. The first is when the used car is the first and only car the person owns. The second case is when the person already has a car and buys a second, used car. Let’s see what is to be done in both cases.

If the used car is going to be the first car, then make sure you buy all the important car insurance policies before you get the car. While you can get and drive the car without the policies, if you get in a car accident, you might face legal action, as well as pay hundreds of thousands of dollars for the cost of the accident.

There is no difference in the requirement and process of getting car insurance between used cars and new cars. There might be some differences in the cost of the policies, but the other process remains the same.

There is no grace period for insurance for buying your first car, be it a new car or a used one. But that’s not the case for buying a second, used car when you already have an auto insurance policy.

When you already have auto insurance and you buy a used car, you’ll have to add the car to your auto insurance policy. This is where grace periods come in. Depending on the state you live in and your car insurance company, the grace period could be anywhere between 7 days to a month.


No matter how many days your car insurance provider allows you to have before registering the car to the policy, it is never safe to drive a car without liability insurance, collision insurance, and other important auto insurance policies.

So the first thing you should do after getting the keys to your used car is add it to your car insurance policy. You’ll need to submit some information about the car and its usage to the car insurance company. This includes:

  • Price of the car
  • Vehicle Identification Number
  • Make and model of the car
  • Safety features such as ABS, ESP, etc
  • Mileage of the car

Price Hike

Depending on the car insurance company, the type and model of the used car, and the state you live in, the price hike after adding the used car to your policy can vary. Adding another car to your policy will increase the rates, no matter what.

Looking at the average, you can expect the price hike to be somewhere around $1,000 to $1,500 per annum. This means that you’ll need to pay an extra $100 for the added car. If you want to save money while getting the security of auto insurance policies, there are some ways you can reduce this damage to your wallet.

Firstly, make sure you choose the right car insurance company. Based on the state you live in, find the most affordable and best-rated auto insurance provider. For example, if you live in Nevada, look for the best Nevada car insurance company that has great coverage options.

Another great option that must be considered is pay-per-mile or usage-based auto insurance policies. These car insurance policies are great for secondary cars that are not driven too much. If you intend to use the second car only occasionally, then get a usage-based car insurance policy.

In usage-based car insurance, which includes all the mandatory insurance policies such as liability coverage, personal injury protection plan, etc, your premium rates are calculated based on how many miles you drive your car.

A base rate is first calculated by factoring in your driving record, age, gender, make and model of the car, etc. This base rate is then multiplied by your monthly mileage and you get your premium rates.

As you can guess, usage-based insurance is great only if your monthly mileage is low. If you drive a lot, usage-based insurance can be very expensive, more expensive than general car insurance policies. So first calculate the estimated monthly mileage of your before you buy this policy.

That was all about the grace period given by the car insurance company for adding used cars. Contact your insurer to find out their grace period. Even though you have a grace period, we recommend adding your car to the policy as soon as possible.

StrategyDriven Online Marketing and Website Development Article|Brand Reach|Simple Ways To Increase Your Brands Reach Online Today

Simple Ways To Increase Your Brands Reach Online Today

StrategyDriven Online Marketing and Website Development Article|Brand Reach|Simple Ways To Increase Your Brands Reach Online TodayWhen you build your own brand, such a large amount of time, energy and money are at stake. You have to ensure that you push your brand to the top of the market, attracting enough customers while making enough profit to warrant your constant dedication.

Fortunately, figuring out how to increase your brands reach so that you can attain the attention you deserve doesn’t have to be a difficult task. This guide contains some of the simplest steps that you can utilize to ensure that your organization can make a name for itself and develop a strong, positive reputation in no time at all.

So, what are you waiting for? If you are interested in finding out more, then simply read on to uncover a wealth of brand building concepts that you can utilize now.

Create A Brilliant Website

A great way to develop your online presence and reach out to a larger audience is by creating your own brilliant business website.

A business website provides you with the chance to establish yourselves on a market that is open 24/7, 365 days a year in every location across the globe. When you build a website you essentially declare a corner of the internet to be your own, providing you with the opportunity to advertise and sell your products or services on a worldwide scale.


If you are not technologically inclined then do not stress, as there are so many web development agency teams that can offer tailor made services that bring your ideas to life in no time at all. Just make sure that no matter which way you choose to design your business website, you always need to use SEO! SEO is absolutely key for all kinds of websites and online platforms seeking to build a wide audience.

Get On Social Media & Sponsor An Influencer

Getting on social media can be a brilliant way to increase your reach online, as one new method of increasing your brands reach online is sponsorship of an ‘influencer’. Influencers are social media users who have a large number of fans or followers, and when you sponsor these people all of their followers will all get to see your product or services.

Social media influencers exist on many social media sites, as well as on their own blogs and other platforms. Finding an influencer in your industry doesn’t have to be a tricky task, as you will likely begin to notice them on your feeds and explore pages as you create your own social media business profiles. Utilize the opportunity to reach out to them so they can advertise your brand for a fee, as they will be more than willing to do so.

Whether they post a picture of themselves using your product or service or write some content that speaks highly of your brand, you’ll be surprised at the amount of new customers you receive once you get the backing of one or more influencers. You can even get in contact with famous faces and celebrities to represent your brand on social media, but of course this will come with a particularly hefty price tag!