More Related Content More from Biztech Store (18) Why Inventory Management Is Key To Ecommerce Success3.
How Can An Inventory Management Software Can Help?
All good inventory management software have some features that can
streamline your supply chain, reduce operational costs and increase revenue.
These may or may not include the following.
Stock Management A good inventory management software will help you keep
track of your stocks. You will be notified if any product is about to go out of
stock. So you can keep your stock levels maintained and will never lose
customers because your products are out of stock. A stock management system
will also let you track the movement of stocks in real time.
Order Management Order management is another area where automation
through a software can help immensely. An order management system will keep
track of all the orders placed in your online store and give you the order
fulfillment status along with all the customer details. So you will never delay an
order or fail to fulfill an order because you weren't informed of the order in
time.
Warehouse Management If you supply your products from multiple
warehouses, a warehouse management system will come in handy. It will keep
you updated on the stock levels in various warehouses and assign orders to
warehouses which have enough stock. This way if you run out of stock in one
warehouse you can assign the order to another warehouse.
Supplier Management With a supplier management system you can
add/remove suppliers from your store, edit supplier information banking
information, payment terms, etc and the product assigned to them.
Automated Reporting A good inventory management system will also give you
automated reports on orders, sales, products ordered, orders fulfilled, orders
pending, etc from a single dashboard.