Malaysian-based omnichannel ecommerce solutions provider, Everpeaks®, has launched Fulfilment by Everpeaks (FBE), a duty-free, integrated warehousing and fulfilment solution that facilitates global manufacturer to consumer (M2C) commerce.
The platform integrates marketplaces and websites, while connecting sellers to distributors and consumers, eliminating multiple layers of traditional retail operations and market barriers.
This allows for global brands to extend their reach by tapping into new markets, providing global sellers with instant Southeast Asian market access as its functions enable the sellers to create, control, and fulfil on-demand B2B bulk orders and B2C orders seamlessly.
The FBE System is a robust technology platform that provides sellers with an omnichannel inventory management feature that is entirely agnostic, as it blends functionalities and is capable of integration with most pre-existing ecommerce suites.
The platform also optimises a total system solution that centralises orders, tracks inventory, and automates the fulfilment of orders received, enabling sellers to create shipping plans, send in shipments to the FBE Warehouse, as well as track and monitor shipments.
Located within a Free Trade Zone (FTZ), the FBE Warehouse ensures that sellers retain full ownership of stored goods throughout a set tenure based on their selected account plan, allowing them to capitalise on duty-free storage, and only be charged duties when fulfilling orders in the country of a sale.
This improves cash flow, and helps sellers better allocate resources for growth, as opposed to inventory being stuck overseas in the form of duty paid.
FBE also provides sellers with the flexibility to increase storage capacity, enabling them to expand sales targets to a wider region. The solution helps sellers meet evolving customer demands and expectations by shortening delivery lead time, increasing fulfilment speed, and reducing OOS (out of stock) issues.
This ensures higher customer satisfaction rates that lead to repeat purchases, and higher seller ratings that lead to higher conversion rates, subsequently increasing traffic.
Joachim Sebastian, Founder and Chief Executive Officer of Everpeaks® said, “The Covid-19 pandemic overhauled consumer purchasing behaviour across the globe with supply chains bearing the brunt. This rise in ecommerce drove a permanent shift in fulfilment and warehouse management technology. This saw sellers omitting the ownership of goods at ports and instead, looked to systems and warehouses for inventory consolidation, sorting, and delivery. Manufacturers today burn through inventories at an accelerated rate, demonstrating the need to maintain healthier warehouse stock closer to their targeted markets for future volatility, as more and more goods experience speedier throughput coupled with a compressed sales cycle.”
”FBE creates a unique offering to help global sellers stabilise the situation, transform the current supply chain landscape, and adjust to new market realities through a reliable technological infrastructure that provides a competitive advantage by increasing seller output multifold, creating a significant impact across markets,” he added.
FBE facilitates greater cost efficiency by eliminating unnecessary expenses associated with logistic complexities, offering stronger economies of scale. With the consolidation, automation and centralisation of inventory warehousing, fulfilment, integration, and a free trade zone, periodical and recurring administrative overhead can be minimised while enjoying increased efficiency.
With a total system solution that removes additional warehousing and administrative costs, sellers will have more time and money to focus on product innovation and satisfy market demands to meet business growth goals.
“As part of our mission to connect all dots of fulfilment and warehousing, FBE simplifies end-to-end fulfilment operations, providing opportunities for businesses to grow without logistical restraints as they expand into new markets. FBE helps facilitate M2C commerce – an emerging business model – as sellers reach consumers directly, eliminating the middleman. Everpeaks® aims to be a driving force in Malaysia’s leap into the industrial revolution to drive shared prosperity, and firmly establish the nation as the Heart of Digital ASEAN,” Joachim said.
With the launch of FBE, Everpeaks® is targeting RM16 million in revenue within the next 5 years. According to a report by Grand View Research, the global warehouse order picking market size is expected to reach USD11.16 billion by 2025.
In August last year, Everpeaks® successfully raised USD341,000 (RM1,441,000) through an equity crowdfunding (ECF) campaign, attracting 48 investors with 25.17% equity offered through Malaysia’s leading ECF platform, pitchIN, seeing the highest individual investment value at US$237,000 (RM1 million).