Ecommerce is the way to GO!
With Singapore Government push for companies to go digital, more companies are jumping on the e-marketplace platforms than ever. With the Covid-19 pandemic, more people are also starting to try venture into ecommerce as individuals too.
Ecommerce has its Risk
The typical ecommerce business revolves around businesses taking up inventory and sell their wares on the marketplaces. In such cases, they are incurring high upfront capital investments and risk incurring long term cost and potentially losses if they could not clear their stock and have to pay for warehouse storage to store the goods.
Some have noted the high capital outlay and potential risk, and choose to do drop-shipping instead. So what is drop-shopping? It is a fulfillment method where you sell products to customers without holding any product stock.
A traditional business model involves the product traveling from the supplier to your business, and lastly to the customer.
In comparison, dropshipping businesses rely on the supplier to store and fulfill orders to the customers. After your customer clicks Check Out or Pay Now, you place the dropship order with the supplier, who takes over the fulfillment process.
Areas your business system should help you in:
Easily Track Dropship Orders
The system should allow you to quickly create dropship orders for your supplier from customer orders. All the product, quantity and delivery address fields will be auto populated.
All you need to do is update fulfillment status once the actual shipment is done
Track Bills & Purchases
Record purchase orders and bills in a few clicks. Keep track of your payables and expenses in one place.
Email purchase orders to your suppliers and receive goods on time to maintain optimal inventory levels.
Better Backorder Management
Get notified of any shortfall in inventory while creating estimates/quotations or invoices.
Create a backorder immediately in one click and get notified when you have received the goods.
Fulfill all your orders on time and never fall short on inventory.
Automate Inventory Tracking Across Warehouses
Track different type of products, including goods, services, raw materials and finished goods.
Inventory movement across multiple warehouses is recorded automatically when you carry out any transaction.
Get the flexibility of auto fulfillment and auto goods receipt when creating invoices and bills.
Pick Pack Ship
Conduct your entire sales and order fulfillment online.
Create picking lists, pack into cartons and boxes, and ship via a carrier of your choice. Print packing and shipping labels.
Record Upfront Payments
Record advance payments and deposits for your suppliers and customers in currency of your choice.
Use the advances to knock off against existing or future bills and invoices.