By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Small Business > How Nailing Supply-Chain Challenges Can Help You Build A High-Revenue, One-Person Business
Small Business

How Nailing Supply-Chain Challenges Can Help You Build A High-Revenue, One-Person Business

News Room
Last updated: 2023/09/01 at 12:04 AM
By News Room
Share
4 Min Read
SHARE

Most of us didn’t think much about the supply chain until the pandemic. Today, owners of even the smallest businesses stay on top of the supply of inventory and materials, so they can keep their competitive edge.

To catch up on the supply chain issues affecting small businesses today, I spoke recently with Radu Palamariu, author of From Source to Sold, an inside look at supply chain best practices, and managing director Asia Pacific & Europe for Alcott Global, a 30-person executive search company that holds quarterly events acknowledging talented supply chain professionals and has built a community among those in the supply chain industry. Alcott Global also has learning solutions and a tech database for the supply chain.

Elaine Pofeldt: Many ecommerce entrepreneurs found it very difficult to work with their supply chain during the pandemic and are still having problems. What advice would you give them about avoiding shortages, given that they aren’t as big as Walmart?

Radu Palamariu: The thing with being small is that you’re nimble and you can adjust quite fast. Try to focus and find and be creative around finding this type of solution. There’s no point at all to try to negotiate with big logistics companies. They’re not even going to bother with you, because you don’t have the volumes.

Elaine Pofeldt: Is there a resource you would recommend to get access to the economies of scale big aggregators have?

Radu Palamariu: Google. It’s safe to assume the tech solution you need already exists. Also look at the big aggregators. Take Shopify for ecommerce. You basically have all the systems that you need from Shopify from the inventory to the invoicing to the how they pay you.

Elaine Pofeldt: It sounds like someone can get up and running pretty easily in ecommerce without a big team if they master the supply chain.

Radu Palamariu: Literally, one of my friends sells toilets literally toilets but stocks the inventory in a warehouse in Singapore, which is just one island. They are from China, Malaysia and Indonesia. It generally takes up to two months to order one in Singapore. Yet because he has it in a warehouse in Singapore, it takes one to two to three days and for some people that matters, so he doesn’t he didn’t even necessarily hedge on having the best or cheapest.

Elaine Pofeldt: Is he a one-person business?

Radu Palamariu Yes.

Elaine Pofeldt: So maybe this approach to inventory is the next frontier for the one-person business.

Radu Palamariu: There’s one futurist who says that factory of the future will be a man and a dog. The man is there to feed the dog. The dog is there to make sure the man doesn’t touch any buttons. It’s stuck with me because that’s where we’re heading into automation at scale.

In the context of the small business, you’ve got to be clear what is the problem that you’re fixing what is it is the cost. Is it the cheapest? The fastest? The best quality? The most reliable? Be selective about what you’re really offering, and don’t try to be “vanilla” and please everybody. Selling

Read the full article here

News Room September 1, 2023 September 1, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Donald Trump’s gargantuan self-dealing

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

EU readies capital controls and tariffs to safeguard Russia sanctions

Stay informed with free updatesSimply sign up to the War in Ukraine…

Donald Trump leans left in bid to revive flagging poll numbers

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Trump’s patience with Netanyahu is running out

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Energy groups scrap Texas-backed projects as costs rise

Stay informed with free updatesSimply sign up to the Oil & Gas…

- Advertisement -
Ad imageAd image

You Might Also Like

Small Business

Why Do We Stay In A Job When We Are Not Happy? Insights To Help You Get The Career You Deserve

By News Room
Small Business

Making A Large Language Model Transparent, Compliant And Reliable

By News Room
Small Business

The Important Initiative For Real Digital Marketing Results

By News Room
Small Business

The Future Of Real Estate

By News Room
Small Business

How AI Is Transforming Healthcare Risk Adjustment

By News Room
Small Business

How Do Hard Knocks Help? 5 Life-Changing Lessons Taught By Adversity

By News Room
Small Business

Lessons Learned From The World’s Most Successful Startups

By News Room
Small Business

Small Business Saturday Encourages Consumers To Shop Small And Local

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?