WBSRocks: Scaling Growth with AI, Enterprise Software, and Digital Transformation
WBSRocks podcast features in-depth conversations on AI-enabled business models, customer experience, digital transformation, supply chain, eCommerce, industry 4.0, and enterprise software categories such as CRM, ERP, or analytics suites. The purpose of the show is to help CFOs, COOs, CEOs, and business owners with their daily commercial, operational, or financial challenges by taking a deep dive into business cases and processes, technology strategy and architecture, transformation initiatives, and business models. The show also offers an independent analysis of technology trends, various enterprise software vendors and solutions, and their mergers and acquisitions. Subscribe today to stay on top of digital transformation trends!
WBSRocks: Scaling Growth with AI, Enterprise Software, and Digital Transformation
WBSP299: Grow Your Business by Learning MOQ and How To Calculate It, a Live Interview w/ a Panel of Experts
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For an eCommerce business, inventory is everything. If you don't have enough inventory, you might lose on opportunities. If you have too much, your cash may be locked with the inventory. If you are working with vendors, they will not work with you unless you are willing to work with their preferred minimum order quantity. But those MOQs must make sense for your business as well. In fact, MOQ will drive your sales and product bundling as well as you need to have enough margins and determine the appropriate MOQs that will make sense for your business.
In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss MOQ and how to calculate it. We also discussed the differences in MOQ calculation for B2B vs. B2C, the difference between MOQ and EOQ, and how MOQ calculation is different in the DTC world. Finally, we discussed the correlation of MOQ and lead time, the best practices of MOQ when multiple vendors may exist for the same SKU, and the magic formula for coming up with appropriate MOQs for both buying and selling.
For more information on growth strategies for SMBs using ERP and digital transformation, visit our community at wbs.rocks or elevatiq.com. To ensure that you never miss an episode of the WBS podcast, subscribe on your favorite podcasting platform.