We talked to Eliott Jabès of Stockly about access to inventory, and he had the following to say:-
First of all, how are you and your family doing in these COVID-19 times?
Eliott Jabès: All good, thanks, we remain very careful and are lucky to be safe.
Tell us about you, your career, how you founded Stockly.
Eliott Jabès: After I finished my studies in a top French engineering school and worked for a year, I decided to call Oscar, my classmate from selective postgraduate school, to start a business together. We initially developed a price comparison website, and after one year of research and pivots, we decided to create Stockly to solve e-commerce’s most important pain: access to inventory.
How does Stockly innovate?
Eliott Jabès: Stockly connects e-commerce websites with a global inventory so that they never run out-of-stock. Basically, we allow an e-retailer A, when it’s out-of-stock, to keep selling the products, making them shipped by the brand or another authorized retailer B of the network. This allows the end customer to find their product way easier online, and it allows both retailers to increase revenue, splitting the margins on the additional sales generated.
How the coronavirus pandemic affects your business, and how are you coping?
Eliott Jabès: We observed a decrease in the global sales of some categories of products during the lockdowns. This is very variable depending on the sales channels, the geographical regions, the categories of products. Still, e-commerce and omnichannel distribution have gained 10 years of maturity in a few months, as consumers didn’t have any other choice than to adapt their way of buying and consuming.
Our role was key: helping e-shops to survive by connecting them to the Stockly network for free (0€ of setup and 0€ of subscription were charged to e-shops in 2020, and it will remain like this for the coming months). This enabled many e-shops to generate additional revenue, fulfilling the out-of-stocks of others, and also serving their customers better, using other e-shops’ inventories.
Another key point was the supply-chain efficiency that was impacted negatively, in particular the last-mile delivery. Here again, our role was key, providing many fall-backs to retailers thanks to the power of the network.
Did you have to make difficult choices, and what are the lessons learned?
Eliott Jabès: Of course, these times were difficult, but I saw our team become stronger, working as a family. We’ve been having for the past months a huge flow of integration requests, and this is hard to handle and prioritize. We’ve learnt to work more and more efficiently and to keep a positive mindset when the context is difficult, as any crisis opens new opportunities.
What specific tools, software, and management skills are you using to navigate this crisis?
Eliott Jabès: We’ve improved a lot of our internal workflows thanks to collaboration tools such as Notion.so, which handles now all our internal tickets and inter-team projects very precisely. This allowed us, even with remote work, to follow the progress extremely precisely of the projects and to keep a fully transparent communication both between the teams inside Stockly and with our external partners.
Who are your competitors? And how do you plan to stay in the game?
Eliott Jabès: There are many companies trying to solve E-retailers’ pains. We have quite a new approach to stock management, but in the end, we believe that the only way to stay in the game is to remain super adaptable and innovative, always be listening to the market and our partners.
Your final thoughts?
Eliott Jabès: We hope all of this difficult period of humanity’s history will be soon in the past, and I wish all the best and courage to the people that are suffering from the virus everywhere in the world.