Industry Terms

Reading Time: < 1 minute Third-Party Logistics, or 3PL, is a partner or service that aids online retailers in managing their supply chains. Common 3PL services include managing warehouses and inventories, orders, shipping, retail distribution, exchanges, and returns.

Reading Time: < 1 minute A common statistical method for predicting future behavior is predictive modeling. Data-mining technology called predictive modeling analyzes past and present data and uses it to forecast future results.

Reading Time: < 1 minute A product page is a place that explains the description of a product along with its photographs.

Reading Time: < 1 minute Pricing rules outline when and how much prices should change.

Reading Time: < 1 minute Point of Sale (POS) systems offer functions like inventory management, CRM, financials, and warehouse management instead of cash registers and credit/debit card readers. Some of the popular POS systems in the market includes: Square: Square is a popular POS system that offers both hardware and software solutions. It includes a mobile app and a card […]

Reading Time: < 1 minute PHP is a back-end programming language used to create powerful web frameworks.

Reading Time: < 1 minute The periodic inventory system, as its name implies, keeps track of the amount of inventory on hand on a periodic basis, specifically at the start and end of a predetermined accounting period. Every purchase made in between inventory counts is accounted for under the purchases account during periodic inventory. The remaining balance in the purchases […]

Reading Time: < 1 minute A payment processor is a company appointed by a merchant to manage debit and credit card transactions.

Reading Time: < 1 minute A parent product means a configurable product which could have multiple sizes, colours, shapes etc.