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How AI is Transforming the Ecommerce Industry?

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Artificial Intelligence

Artificial Intelligence (AI) is supporting every business to grow and explore new horizons. As per Tractica’s market forecast, AI is expected to generate revenue of 118.6 billion USD from AI software by 2025.

Gone were the days when e-commerce business was all about website designing of your offline store and selling across that. The increasing inclination and constant competition in the trending technologies are improving the e-commerce industry at a growing pace. AI transforms the traditional tactics of managing different tasks of business in smarter ways. From local vendors and manufacturers to giant retailers and digital startups, AI is helping every business.

Now, let me share some of the surprising transformations brought by AI in improving the shopping experience of customers as well as business owners.

  1. Virtual Assistance:

AI allows you to virtually assist each of your customers with the help of chatbots. While surfing on e-commerce sites, you will find the pop-up message from the smart bots that can solve the puzzle piece for you. The key benefit of a chatbot is, you don’t need to hire multiple resources to serve your diverse language speaking clients.

Unlike the old days when bots just showed up, AI integrated chatbots can communicate with your customers exactly like humans. Based on the customer requirements and queries with machine learning, chatbots are capable of guiding them through every step of shopping. From product selection to the checkout process, chatbots are there to help your customers at every stage.

In addition to chatbots, voice assistants can be helpful for the end-users. It makes the user communication easy and swift and keeps the user from typing in their queries. On one hand, voice search saves your time and adds a personal touch. On the other hand, voice assistance enables you to assist your customers with the bots that answer their queries by speaking it out, rather than displaying on the screen.

  1. Advance Visual Search:

Visual search is one of the amazing features that everyone craves for. The reason is pretty simple, mostly we know the product we want, but at times confused to explain it. If you don’t explain your query in a proper fashion, getting the exact result that you wanted is impossible.

Thanks to AI’s live product search option, that enables you to scan the product that you want to search. A single search of yours is capable of bringing hundreds of variations of the product you were looking for.  So, no more worries about typing different attributes of the product. Simply scan the product and you will find the product all of the information displayed along with the in-stock quantity and the variants available.

E-commerce giants like Amazon have already started using the visual search option. If you want to get the feel of the feature, you can check it out there. Later, you can add such a feature to your store also.

  1. Personalized product recommendations:

The customer satisfaction is the ultimate goal of every business. So, you must care for each of your user requirements. If you talk about the physical shops, it turns hectic in the festive days or during rush hours. A shop owner and the staff can understand the shopping behavior and show the products as per their needs, but taking note of every customer’s choice, even when he/she is a first time visitor; is a bit tricky.

E-commerce makes it possible for you to take note of choices of every visitor and AI helps you in offering a personalized experience to them. A single customer search displays 100s of products and with the gradual learning, you will find a list of recommended products in the “Products you may like” section. The list of products is solely based on your search and that of the customers earlier liked such products. You will also find the products that you can buy together, it is like a profitable deal that can further entice customers to purchase the product.

  1. Manage your inventory based on forecasted sales:

The sales forecasting feature is really an asset for businesses. Based on previous purchases, user demographics, customer behavior, the time of the season and various other factors; AI helps you in predicting your future sales. Based on such analysis, you can manage your inventory and stock the products which have higher chances of bringing sales in the meantime.

The sales forecast can help you make your marketing strategies and cut off the marketing costs when it is not of much worth.

  1. Customer Relationship Management (CRM):

Unlike the old days of managing the database of your customers across the spreadsheets, now, CRM software took a tool on it. When CRM makes it easy for you to manage the data and sales of B2B and B2C customers separately, it eases the communication with potential clients.

Further, AI makes it easier for you to collect the data from social media, helps in evaluating potential leads, automate data entry, and enable data analysis to support your marketing strategies and sales.

Above mentioned benefits of Artificial Intelligence are the vital ones to count on. There are a plethora of opportunities that you can discover time to grow your e-commerce business with more personalization for your customers.

When you are ready to jump on the bandwagon of e-commerce business, Builderfly can help you make your store live. Moreover, with a web-store, you can build an AI-integrated native m-commerce app for your business in the single investment of web store. Flourish your business, understand your customer demographics accurately and offer personalized experiences to your customers with the power of AI.

Binay Jha has 19 years experience in the software development industry. Initially a web developer coding in PHP/Perl etc., he later got into digital marketing and mobile app development, and now specializes in team management, working at Builderfly - eCommerce platform.

Business

Pallets for your Business – Getting it right

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pallets

A pallet is a structure often used to transport various types of material in many different industries. It is an efficient method of storing and transporting goods. It is highly beneficial to invest in once since it is very convenient to use for all concerned. It is easy to handle as well as a crane to mauve during the process of loading and unloading.

The contents of a crate are easier to handle during the process as well. Crates have been in use for a long time; however, these were traditionally made from wood. There are many other types of pallets also available like that from plastic, metal, paper, etc. The roto-molded pallet is a popular one and has several applications.

Types of Pallets

  • Roto Moulded: This type of pallet is similar to injection molded pallet; however, it is denser, stronger, and more durable. These pallets are made using a rotational molding method and are highly economical. They are available in many different sizes and are very practical since their load-bearing capacity is high. These are also very hygienic to use.
  • Plastic Pallets: This is often used for the pharmaceutical industry due to its high level of cleanliness and hygiene.
  • Injection Moulded: This is an ideal pallet for lightweight goods since they can be handled well by lifts and is also suitable for storage on racks or a floor. These are flat pallets that are easy to lift and transport. It is also washable, corrosion-free, and highly durable.
  • Flyash Brick Pallet: These are low-cost storage pallets made from composite PVC with a thickness ranging like 20m or 30mm, and it is available in many different sizes too.
  • Stringer Pallet: A stringer pallet is one with additional support and is essentially two boards running between the top and bottom decks. It is only possible to lift this type of pallet from the sides. There is an option of selecting a four-way pallet as well, making it simple for a forklift to pick up.

Common Applications

The Rotomolded pallets are used for many different applications and several industries too. Some of the informal sectors are used in the manufacturing industry, consumer durables, chemicals, dairy, eCommerce, logistics, food, automotive, shipping, pharmaceutical, military, and more. For vegetables, plastic crates can be used to ensure that everything is stored in a safe zone, without disrupting their shape or taste.

Factors to consider when selecting one

Roto-molded pallets are useful for many types of businesses to store, warehousing, and transport. It is necessary to make sure you get the right kind of pallet to suit your business. They are available in many different shapes, sizes, and capacities, which is also something that you need to consider.

Here are some of the common factors you need to consider:

  • Type of products: One of the most important factors to consider when selecting pallets is the type of product it is meant for. It would help if you also considered the weight of the goods and industry before choosing the right material.
  • Type of use: Pallets can be reused; hence if it is required for a one-off shipment, it is more beneficial to consider a reconditioned pallet. On the other hand, if you have frequent use of a pallet, use one made from more solid material and one that is more durable.
  • The dimension of a package: Make sure you are aware of the height and width of your package to ensure you have the pallet of the right shape and size.

Method of shipping: It is highly likely you require pallets for storage and transportation. In this case, you must acquaint yourself with the conditions in which it is transported, it is temperature-controlled, and the amount of care used to handle it. It is also vital you be aware of the shipping destination of your crates.

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Four-fold jump in LPG consumption but industry faces challenges in Bangladesh

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Four-fold jump in LPG consumption but industry faces challenges in Bangladesh

A relatively new industry segment in Bangladesh, LPG is setting new frontiers of growth as the nation has stepped up its energy requirements – making the LPG demand grow exponentially. To encourage the use of LPG, government has favorable policies in place. Market insiders says, due to increased use in households, commercial entities and vehicles, the country has seen a four-fold jump over the past three years in LPG consumption.

Though introduced by the state-owned Bangladesh Petroleum Company (BPC) back in 1978, LPG has only gained prominence after 2008. According to the annual report of the Energy and Mineral Resources Division (EMRD) of 2018-19, till last year, the number of LPG consumers was 38 lakh against 2.5 lakh in the year 2009. Owing to increased LPG consumption in Bangladesh, the number of such companies has increased rapidly.

While the use of LPG is growing exponentially, the most recent emphasis has been to handle the flammable product safely. Amidst rising safety concerns, companies are bringing in innovative methods to enhance the safety levels of cylinders. For instance, Beximco Group, co-founded by Salman F Rahman has introduced the composite fiberglass cylinder which is a Type 2 or 3 cylinder, through its Beximco LPG unit – making the LPG cylinders more viable in the Bangladeshi market. The safety tenet also appeals to the rural diaspora, where people still rely on wood fuel.

Salman F Rahman also serves as the Private Industry and Investment advisor to Prime Minister Sheikh Hasina – which might bring the household energy aspect more prominent in the plans of the government in the future.

M Muntasir Alam, Chief Commercial Officer of Beximco LPG, informs, Steel cylinders are very hard and the gas pressure is always very high. Exposing them to extreme heat of the kitchen can lead to expansion of the gas inside the cylinders, making it highly flammable.

Salman F Rahman, MP from Dhaka-1 Constituency, who has already been working towards the installation of renewable energy grid in the country recently cited “We are self-sufficient in food, developing our electricity sector and our population growth is also under control.”

Furthermore, awareness sessions hosted by Ministry of Power, Energy and Mineral Resources have been centered on enhancing the existing facilities in the country- accessing all the risk factors associated with it.

Factoring in the existing safe and convenient energy solutions, Bangladeshi companies Beximco, Omera could expand their reach in Bangladesh and present export options – not unlike the recent export contract with India. As their capacity is hugely under-utilized, more such exports can help them become commercially more viable in the long run, only if they access risk factors well.

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Learn About the Importance of Home Electrical Distribution Box

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Electrical Distribution Box

Electrical power is foremost as it is comparatively much cooler to communicate and allocate than other forms of energy such as mechanical. Imagine transmitting mechanical energy to just 30 feet of distance. Everybody have noticed that the electrical energy is produced in creating places and how it is spread at longer distances from transmission systems. Now, let’s see how electrical power is dispersed to the customers. A distribution board, which is even called as breaker panel as well as electric panel or panel board, is a constituent of an electricity supply system that splits an electrical power feed into lesser circuits, while offering a protective circuit and fuse breaker for each circuit in a mutual enclosure.

A lot of individuals are not aware that power outpours occurs normally each day when the electrical network goes away where the home electrical distribution is attached. Many a times these fleeting power points are invisible and not a danger, though there are times when such power and spikes surges are much for a household electrical system to endure and huge damage takes place to appliances, electronics as well as even heating and air conditioning methods.

The simplest method to defend in contradiction of these terribly monetary blow is to connect or get a qualified electrician a whole house surge suppression unit. This unit is installed at the service load center at the entrance of the home and essentially either it takes the controls surge or readdresses it to ground therefore stopping any additional injury.

The mainstream of persons believe that a point of use surge strip is adequate to protect electronics, computers, and home entertainment midpoints and so on. However in realism it is not enough for few of the power surges. Installing a whole house surge suppression unit in conjunction with point of use surge strips is good for peace of mind in knowing your home and everything within is protected. . For optimal performance with this board, you will have to get a professional electrical distribution box India that brings good quality electrical work on a regular basis.

Let’s know the significance of Electrical Distribution Board in a Building

An electrical distribution board is a vital part of an electrical installation in any part of the building. Its determination is to allocate the power supply consistently all over the structure by the method of various circuits. The power that comes in has to be measured in this method to stop any overloads from happening. Specialists connect the distribution board at the point where the foremost power feed comes inside the building and feed lines off the numerous circuits to offer electricity to many feasting points inside the building.

  • Basic Formation of an Electrical Distribution Board

The standard configuration for this kind of board is one main breaker to show off the whole electrical offer with multiple mini-circuit breakers that management specific areas of the building. The most feeds the opposite breakers their specific voltage of electricity to send to their assigned places, machinery or appliances. Intensive cabling is important for all the circuits to hold out their tasks.

  • Other Relevant Mechanisms in Electrical Distribution Boards

Electrical distribution boards has got an unusual circuit breaker, which is the major part of such board panels. It has the chief function that contains splitting the entire quantity of electrical power whether it is single or may be three phase and allocating it to a guaranteed amount of less circuit breakers. Every mini breakers are associated to a precise cable that gives a person power outlet, light circuit and machine point. Such cables are even implanted in the delivery board, nonetheless they are situated on the conflicting side of the chief feeding cable.

  • Electrical Distribution Boards Are Customizable

Each electrical distribution board is customizable to suit the needs of the commercial property owner. The technical and structural characteristics of the electrical distribution boards might differ each building has contradictory electrical load necessities to perform their day-to-day operations. Often, they are even local regulations as to how these boards are arranged and connected.

  • Electrical Distribution Board Delivers Electricity in the Right Voltage

The significance of safeguarding that your electrical distribution board is arranged and connected appropriately must not be undervalued. Its major role is to allocate the electricity in the correct portions to every place of the building that needs to be safe, well-organized method. When there is no board, you might have continuous shorts and overloads that could give electrically caused fires and blackouts in simple cases. For best performance and high level of competence and safety in your commercial or residential building, assure yourself to consult a dependable and best specialized installer of any company for connecting any electrical methods.

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5 Huge Advantages of Choosing a Large Courier Service Company for Your Business

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woman-in-grey-shirt-holding-brown-cardboard-box

With the onslaught on inbound information targeting every customer, it takes 21 reinforcements. With no geographic boundaries and overnight shipping, every company that does what your business delivers is a competitor.

A brand separates your company from its competitors. It is what your prospects and customers think and feel when they come in contact with your business. Most prospects will turn this off if they do not have the need the service right now. What the potential customer wants is value to solve problems they face every day.

Before the Internet, experts said that a potential customer needed 7 reinforcements of a brand until they remembered that company. Now, with the onslaught on inbound information targeting every customer, it takes 21 reinforcements.Your company can highlight its brand by sending or mailing something of value to the prospect every month.

For example –

  • Congratulate them on something or follow up on a significant event that you know about what they just experienced. This will show that the prospect you are interested in them.
  • Are they moving to a specific trade conference? This will help connect in person.
  • Point out a recent article, tool, or book that was valuable to you. This will show you are knowledgeable, and they can count on you for expert information.
  • Identify a resource or make a connection for them. This will show that you want to help their business beyond just selling your products.

Just hearing the names of big courier service companies often erases the doubts that you may have when it comes to the delivery of a very important document or product. If you have a business that requires frequent inbound and outbound shipments, you would most likely choose a large company over one that has no proven track record yet. I’m listing out some of the primary profits that you can get when working with a large and established courier service company.

They have established a reputation.

A business that has grown in size simply means one thing – customers are happy with their services. Satisfied customers will normally keep coming back for more. So if a courier service company is large with branches across the globe, it only goes to show that people trust them. Most likely, dealing with these large companies will also give you the same satisfaction that the other customers experienced.

Tracking the status of your shipment is easier.

Generally speaking, big shipping companies can afford to pay talented IT personnel who can develop programs and systems that will allow fast and easy tracking of items they are handling. So if you want to be able to track each and every order and delivery, this can be possible if you hire the services of a big company with a reliable tracking system that is accessible even through the internet.

Large companies have flexible systems and procedures to cater to the different needs of their clients.

With ample years of experience, large providers in this kind of service niche have formed a rule that is flexible enough to feed to the specific needs of their clients. Working with a new or smaller company would be another story since they are still in the process of developing their systems. Chances are some of the needs of your business that may not be answered satisfactorily.

Big companies have access to a wider network.

The majority of big companies have branches in many different countries all over the globe. With a wider network, you can easily get your products or important business papers to where you want them to be. This will give your business an appended position because your business transactions will have a minor chance of confronting delays.

Large courier services generally have a competitive pricing scheme.

Marketing departments of these large companies are responsible for developing a strategic pricing plan that will encourage more clients to choose them over their rivals. You can observe that most, if not, all of their services are offered at reasonable prices and with a high level of quality. Customer satisfaction and retention are always the primary concerns of a large organization. One, they have a name to uphold, and second, they want to run a profitable business. This will only happen if they have a steady stream of customers coming in their doors.

Courier services have become more and more important in the life of businesses, whether big or small, online or traditional. Your business also has a better chance to flourish with the help of a reliable courier service. For this reason and a lot more, you need to choose wisely when looking for a company to handle your business transactions. If you choose large courier service companies like Goodales Pallet Couriers with a good reputation in the industry, there is no doubt that you will face lesser worries and have more stress-free business operations.

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How Leaders and Managers Can Reduce Stress in the Workplace

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Workplace

Stress causes US businesses to suffer losses of $300 billion annually.

It is not any surprise that workplace stress is a leading cause of emotional and physical health issues.

A healthy employee, fit in mind and body, is a better employee, which translates to a more profitable outcome in every way.

The reasons are usual and have existed for decades.

  • Performance and anxiety about targets
  • Long commutes
  • The boredom that comes with underemployment of skills
  • Harassment and bullying
  • Downsizing and fear of layoffs
  • Lack of promotion
  • Lack of rapport with colleagues
  • Real or perceived lack of recognition coupled with low pay

However, very little is usually done to accept that there is indeed a problem and that the issue of workplace stress has to be addressed.

An entrepreneur has the responsibility of mitigating the causes of workplace stress as far as possible. It is not an easy task, but it is not impossible either.

What is primarily needed is a change in mindset and to view the business as not only a profit-generating entity but one that cares for the wellness of its employees and the society at large also. Of course, this view goes entirely against the top and bottom line-driven business model that has come to exist.

But entrepreneurs can bring massive disruption and change the system as no one else in modern society can.

So what can you as an entrepreneur do to lessen the stress your employees feel? We take a look.

Make wellness a priority –

Physical activity leads to the release of endorphins. Endorphins are feel-good neurotransmitters that cause the well-known “runner’s high.”

As little as 10 minutes of physical activity can have beneficial effects.

How to make your employees get more physical activity?

  1. Encourage them to go on a walk or jog at lunchtime. If possible, sponsor their gym memberships.
  2. Buy them fitness trackers and have them upload the data. Those employees who walk 10000 steps a day can be given gifts to recognize their effort. A power bank or portable smoothie blender with an inspirational motto printed by a customized label design partner such iCustomLabel as is perfect. You can create a personalized label or stickers with some text for your employees.
  3. Remove sugary snacks from the office and substitute it with fresh fruits and oatmeal bars.
  4. Encourage your employees to limit their intake of caffeine to no more than 2-3 times daily.
  5. Have a yoga and meditation teacher train those who want to learn once weekly at the office. Meditation is a proven stress-buster, but there is an initial skepticism that is hard to overcome.

Have flexible working hours –

This might seem to be more challenging to implement, but with the enormous advances in technology, there is no reason why employees cannot, at times, work from home.

Cisco Webex and GoToMeeting have been around for well over a decade.

Google Duo and Facetime provide perfect multi-party video calling.

Most of the work that employees do is done on cloud-based software like Zoho, Google Docs, and Office 365.

Also, it is a good idea to have a “no-meeting” day. With everyone always collaborating through email, Skype, WhatsApp, the traditional meeting has become slightly irrelevant.

Worrying about getting through the remaining workload by the end of the day while a colleague rambles on about some arcane point adds to stress.

Show your gratefulness –

There are a couple of ways to do it – with your checkbook and your demeanor.

As the boss, your behavior and bearing are of far more important than you think. Are you stressed? Is it showing? Then have no doubt that your employees are stressed too. After all, their existence from rent to savings is linked to you.

To reduce their stress, you have to work at reducing your stress. Yes, there have been famed entrepreneurs who were incredibly boorish. We are talking of Jobs and his famed temper.

But that was accompanied by his brilliance and charisma, which to no small degree, drove Apple to become a household name.

Be kind to your employees. Be grateful to them.

Kind words and celebratory plaques work up to a point, but it is essential to have a transparent monetary reward system in place.

The difficulty is not so much in awarding a pecuniary benefit but making the process transparent beyond all doubt. That, someone, received a bonus, and others did not should never lead to rancor and more stress!

One of the ways to approach this is to make broad performance metrics available le to all employees once every six months.

Provide counseling –

Too many companies provide psychotherapy for more motivation and productivity and not for stress.

However, recent advancements in Cognitive Behavior Therapy have shown that it is possible to relieve stress at the workplace through dialogue.

Originally designed to help suicidal people cope, it has now evolved into a technique of teaching non-judgemental acceptance and observation of the world around us.

Needless to say, being able to accept the flow is one of the best ways to cope with the constant change at startups.

Focus on teams –

An easy way to lower stress is to put the blame on a team (if such guilt has to be allotted) rather than upon an individual.

For centuries this is how armies have coped. Success and failure are shared from a platoon to a division. That is how soldiers have been able to survive unimaginable stress – shared blame and shame.

You could also do the same and ensure that no one individual ever gets to be blamed.

Conclusion

Workplace stress is real. Those who are sitting in the corner office often forget what it is like to be down in the trenches.

Empathy can play a significant role in alleviating stress. You have to be creative about how you tailor and adapt the advice above into your organization.

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