Exactly How Supply Chain Executives From The Philippines Completely Changed This 8-Figure Brand
Jul 3, 2024
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Lara Guevara, a supply chain executive, helped overhaul an 8-figure brand with her expertise in the Philippines. The podcast delves into the success story of transforming the business, hiring Filipino employees, and co-founding a staffing agency. The discussion emphasizes the importance of efficient supply chain management, cost-saving strategies, and challenges faced in the process. It also highlights the impact of collaborative approaches and team expertise in optimizing supply chain operations for consumer product businesses.
Efficient supply chain management can significantly improve operational efficiency and cost savings for e-commerce businesses.
Optimizing supply chain is crucial for enhancing profitability, reducing risks, and improving operational efficiency in businesses.
Effective inventory management, tailored to product characteristics and utilizing personalized attention, is vital for successful supply chain operations.
Deep dives
Importance of Supply Chain Optimization for E-commerce Businesses
Optimizing the supply chain is crucial for e-commerce businesses to create value and improve operations. Many founders underestimate the potential for value creation within supply chains, including better pricing, terms, and cost reduction opportunities. Working with supply chain experts like Lara Guevara has shown significant improvements in operational efficiency and cost savings for businesses.
Under-Optimization of Supply Chain in E-commerce
E-commerce businesses often lag in optimizing their supply chains compared to other operational areas like marketing and finance. The podcast emphasizes the significant impact that efficient supply chain management can have on overall business success. By focusing on supply chain optimization, businesses can enhance profitability, reduce risks, and improve operational efficiency.
Strategic Inventory Management for DTC Brands
Strategic inventory management is highlighted as a critical factor for success, especially for direct-to-consumer (DTC) brands. Understanding product categories, such as perishability, weight, and storage requirements, is essential for tailoring supply chain strategies. Analysis of products' characteristics allows businesses to determine optimal inventory levels and shipping methods, ensuring smooth operations.
Excel as a Key Tool for Inventory Management
Effective inventory management often relies on the expertise of individuals utilizing tools like Excel to track inventory levels, predict demands, and make informed decisions. While technology solutions exist, the personalized attention and analysis offered by proficient Excel users can greatly benefit businesses in managing their inventory effectively. This hands-on approach allows for customized strategies that align with business goals and product characteristics.
Navigating Supply Chain Challenges for DTC Businesses
Managing supply chain complexities for direct-to-consumer businesses involves understanding product specifics, negotiating with vendors, and optimizing inventory planning processes. Effective supply chain strategies tailored to the unique attributes of each product category enhance operational efficiency and financial performance. By addressing supply chain challenges proactively, DTC brands can improve customer satisfaction, reduce costs, and drive sustainable growth.
Gregg Carey felt overwhelmed by the number of things he had to do in his 7-figure ecommerce business. Anyone who has been in that phase knows the feeling: there's too much to do, not enough time to do it, and not enough money to hire help.
Except that last part isn't true: Gregg hired Lara Guevara to take over his supply chain from her home in the Philippines, and the result was growth, profit, time, more Filipino employees, and eventually, a Filipino staffing agency that the two co-founded so other DTC businesses could experience the same.
In this sponsored episode, I talk to Gregg and Lara both about their experience working together on Gregg's business (https://section119.com/) and why these relationships work so incredibly well when they're done right.
EPISODE SPONSOR
Virtual assistants can be helpful, but virtual professionals can change your business. Learn more at morenow.co/af.
PAST EPISODES REFERENCED IN THIS EPISODE
"Let's Fix Your Supply Chain And Save You A Ton Of Money (With Lara Guevara)": Apple, Spotify
"What It's REALLY Like To Be A Filipino Ecom Employee (With Lara Guevara)": Apple, Spotify
"Gregg Carey's Business Was Transformed By Employees In The Philippines": Apple, Spotify