Incorporating eCommerce into Inventory Management

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Using an eCommerce platform to sell your product is an effective way to reach more customers. It can help grow the scope of your business and provide momentum into new markets. An essential part of a successful eCommerce platform is supporting it with an online inventory management system.

Keeping track of stock

With online inventory management, a retailer can keep track of stock and the orders coming in and out. It manages data in real-time and provides updates on the current levels in the warehouse. This means that when customers try to order something off the eCommerce platform it will tell them if it is in stock or not. This way it will manage customer expectations and keep them informed about what is available.

However, in general stock-outs will decrease since you have a better handle on what inventory you are managing. Real-time updates can send a notification if stock gets low before the predicted time, prompting the business to order more stock. This increases efficiency and protects against stock-outs.

An online inventory management tool will help to ensure that is there enough stock in the warehouse to meet demand for your eCommerce platform. You can amalgamate previous sales data to assist in forecasting. With better forecast insight you can optimise the amount of inventory stock in your warehouse so you do not have too much or too little. This means order fulfilment will be efficient, helping to minimise waiting times for customers to receive the goods.

Streamlined processes

Another benefit of having your eCommerce ordering system communicate with your inventory management tool is having a streamlined return process for goods. It makes sure that customers can return goods easily and they can be replaced if necessary. All goods are tracked in both systems so they can recognise patterns and any problems with goods.

An online inventory management tool keeps your business organised and keep track of your orders. It makes warehouse management easier and goods can be located faster. With tracked goods inside the warehouse, you can process orders quickly since it is clear what shelves they are on.

An eCommerce platform and online inventory tool can identify what sales are popular and the trends in consumer purchases. If they find that a certain product turns out to be a fast moving good, then it needs to move to the front of the warehouse. This means warehouse employees will spend less time searching the depths of the warehouse for a very popular item. This can save a lot of time for employees and for shipping; if it can be located faster, it can be shipped faster.

Online inventory management tools are not only important for big business, but small and medium sized enterprises as well. eCommerce allows your business to grow online and reach more potential customers than ever before. This means that your company needs to be prepared for growth. With a scalable online inventory system, it can support the growth from your eCommerce success.

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Melanie - Unleashed Software
Melanie

Article by Melanie Chan in collaboration with our team of Unleashed Software inventory and business specialists. Melanie has been writing about inventory management for the past three years. When not writing about inventory management, you can find her eating her way through Auckland.

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