4 Essentials to Planning Growth of your eCommerce business
December 31, 2018
According to Brian Berry at Multichannel Merchant:
"While long-range planning can be time consuming in larger companies, smaller businesses can benefit from adopting some of the key best practices. Advantages include:
- A top-down and bottom-up planning process that can act as a guide to achieving business objectives with expense control and profitability
- Planning cash requirements for inventory purchases, payroll and expansion that are in line with projected sales and resulting gross margin
- Broadening the analysis of results to include merchandising, marketing, fulfillment and accounting in addition to standard ecommerce metrics
- A quarterly review of goals and financial plans and discussion about adjustment if necessary"