Richard Liu Qiangdong Interview Recap

 

Richard Liu Qiangdong is an entrepreneur whose business acumen has seen him become the founder of world-renowned company JD.com. Liu Qiangdong’s success rate has earned him respect across the world, and his understanding of the online business model makes JD.com, previously known as Jingdong, a success.

In his interview, he states that he always wanted to be a business owner and when an opportunity arose, he ensured that he implemented his ideas strategically to create the business. This is not to say that his journey has been easy; having lost money in a restaurant business, Richard Liu Qiangdong highlights the lessons he learned from this failure.

JD.com begun as a spare part business with a conservative business approach that lacked scalability. Richard Liu Qiangdong identified this loophole, and it was evident the lack of economies of scale resulted in low profits and high costs. He thus entered into e-commerce at the early stages where people still understood the internet phenomena. This has over the years given his business an upper hand as more competitors join the online retail space.

In his interview, Richard Liu Qiangdong discloses his personal life stating that he has a family which acts as a source of motivation. Trust in his opinion is built by delivery of products which exceed customer expectations and hence counterfeiting is not a right approach. This is because it limits the expansion prospects as consumers lose trust in the brand. View More Information Here.

The interview makes it clear that strategic management lies at the core of the business and Richard Liu Qiangdong encourages other entrepreneurs to adapt to the same. His business model runs on efficiency and integrity evidenced by the short delivery period of products at JD.com. He further encourages that businesses learn customer service and ensures that costs are low to earn more profits while delivering quality products.

In a world where competition is on the rise, Richard Liu Qiangdong discloses that he can maintain his company as a leader through various strategies. This includes having variety at low prices to reach out to varying tastes and preferences. This is supported by his business model which ensures that stock is not stored for long time frames. Richard Liu Qiangdong depicts the importance of hard work and integrity in running a business.

 

Related reference: https://seekingalpha.com/article/4226658-jd-com-will-richard-liu-deliver-2019

 

Richard Liu Qiangdong: An Expert of Supply Chain Innovation

Also known as Liu Qiangdong, Richard Liu Qiangdong is the Chief Executive Officer and founder of JD.com, one of China’s largest e-commerce platforms, a firm that is currently worth $57.6 billion. According to Forbes Magazine, Liu is reported to be worth $11 billion.

 

Richard Liu Qiangdong graduated from the Renmin University of China with a degree in sociology but spent a lot of his time as a student sharpening/honing his computer programming knowledge through freelance coding tasks.

 

In 1998, Richard Liu Qiangdong opened his shop that engaged in the business of selling magneto-optical products across Beijing. As of 2003, he had managed to open more than 12 stores only to be derailed by the SARS outbreak that forced a lot of his customers and staff to remain indoors. Refer to This Article for related information.

 

With the outbreak, Richard Liu Qiangdong opted to reconsider his brick-and-mortar business model, an idea that led to the creation of JD.com in 2004. A year later, Richard Liu shut all of his stores and decided to entirely focus on e-commerce, selling a myriad of electronics along quality consumer goods.

 

Just recently, Richard Liu was interviewed regarding the future of JD.com entitled “An Insight, An Idea”, and he had a lot to say. First, Liu was asked on how his entrepreneurial journey has evolved and he argued that the road to becoming an entrepreneur is difficult and rocky, especially for those starting. According to Liu, those who persevere are assured of good results.

 

Richard Liu Qiangdong further argued that competition is rife and the goal of JD.com is to compete with other established business entities such as Walmart and become the best or rather the top online retailer in the globe.

 

JD.com has for the longest time been focusing on increasing the quality of its customer service, speeds of shipping its products, and the like. According to Richard Liu Qiangdong, these are some of the reasons as to why the company has been experiencing 100% growth yearly. With an expanded growth, JD.com is currently focused on boosting the quality of the experience, a matter that Liu believes will propel the firm to the number one spot in the globe.

 

Visit: https://www.hugessen.com/person/richard-liu

JD.Com And The JD Cloud Warehouse Management Solution

Businesses in China are upgrading their supply chains with the assistance of the popular technology giant, through the process of JD.com. The JD management solution, was officially launched last December, which was specifically designed to use e-commerce technology. This will help businesses to increase the numbers of products and will provide efficiency, time management solutions, and consistency within all providers and businesses.

 

The system, will also help companies utilize warehouse space, while also maximizing the use of real estate. This solution is designed for JD’s own nationwide network, which delivers over 90% of orders. While using JD’s supply chain, partners can predict demand and supply of inventory. This process will organize warehouse layouts and can help provide training programs for employees.

 

According to Yaodong Jiang, leader of the program of JD logistics, “The JD Cloud Warehouse Management Solution shows how JD’s “Retail as a Service (RaaS)” strategy can help build a more sustainable business, while improving services for consumers everywhere.” Over hundreds of warehouses are using JD’s management technology process, this includes areas of China.

 

One of these providers, who mainly focuses on small day to day products, decided to upgrade to JD’s solution. With consistent use of the JD Cloud Warehouse Management Solution, this particular warehouse provider, saw orders at a high of four hundred percent. Zhongshang, a warehouse operator in Sichuan, also noted that he was able to expanded its facilities to 400,000 storage units, because of the progress of the system.

 

Many warehouse providers have seen significant growth with the JD Cloud Warehouse Management Solutions. Their businesses have flourished, creating improvements for supply and nationwide experience. The General Manager of Juzi has stated, “The program gives us access years of experience and the improvement of the business results speak for itself.” The JD Cloud Warehouse Management Solution has transformed many small businesses and the program will continue to grow, helping millions of companies. Visit This Page for related information.

 

More about JD.com on https://www.cnbc.com/quotes/?symbol=JD

THE SUCCESS OF RICHARD LIU QIANGDONG

 

Richard Liu Qiangdong is the founder of JD.com. He is the chief executive officer of this company. This company is one of the largest e-commerce business in the country of China. It is worth $57.6 billion. He built the company from scratch. Richard Liu studied in the University of Prestigious Renmin. In 1996, he graduated from the campus with a degree in sociology. Richard Liu was hired in a health company where he worked for two years. He  served different roles including director for computers and director for business. He has a variety of honors. It is referred to as 2017 variety 500 honorees.

 

Richard Liu Qiangdong then started a shop selling Magneto optical products. This was after his failure in the restaurant business and making health products sale. He named the business Jing dong. By the year 2003, he had set up 12 stores.SARS outbreak threatened his business. He came up with JD.com which was born due to everyone being housebound. This was fully functional in the year 2004. In the year 2005, he shut all the physical stores and focused on e-commerce. Richard Liu added the consumer goods and the electronics. In 2010 they had all the products in the market. The most popular product that they sell is consumer goods and fashion.

 

There were many counterfeit products online. People also cheated on the prices of the products. This was a contributing factor to his company growing rapidly. Liu offers after sale services. This include shipping the products to the customers. They ship goods globally. In other countries, it takes them a few days. He says that their goal is to be number one in China. They also have a goal of venturing into other countries. This includes Asia, Europe and United States of America. See Related Link to learn more.

 

There is a company called WeChat which was being established. The owner acquired a 15% stake in JD.com. The deal is to advertise the company in the social media. It will boosts JD.com with almost a billion active users. After two months the platform became viral. JD.com now competes with Alibaba.

 

More about Liu on https://variety.com/exec/richard-liu/