How Technology Can Help You Better Manage Inventory
A major downfall of eCommerce brands today is the inability to effectively manage inventory. Poor inventory management leads to inaccurate order fulfillment, slow shipping speeds and a lack of real-time product information on websites. But the biggest pitfall eCommerce brands experience as a result of ineffective inventory management is a decrease in revenue and brand loyalty. However, the right inventory management technology can help!
The thing these brands don’t realize is that better inventory management and best practices can be easily achieved by leveraging technology designed to simplify the process.
4 Technology Features to Help You Manage Inventory More Effectively
You might be under the impression that technology to manage inventory is better suited for global, multichannel retailers, but that couldn’t be further from the truth. In fact, it doesn’t matter the size of your eCommerce brand – better inventory management should always be top of mind.
The best part is the technology you choose doesn’t have to be an over-complicated, outrageously expensive solution. A system with four important features can help simplify and streamline inventory management:
- Real-Time Product Updates – As customers order items, real-time updates enable you to accurately manage warehouse product levels and keep your eCommerce site up-to-date. Additionally, you’ll be able to better forecast when and how much of a particular product needs to be reordered, avoiding over or understocking items.
- Easy Accessibility – Inventory management technology doesn’t mean you have to be tied to a desktop computer running numbers. A robust solution provides easy accessibility, allowing you and warehouse personnel to check on inventory levels from a laptop, tablet or another mobile device.
- Scalability – Your eCommerce business might be small now, but you’ll continue to grow, and you need an inventory management system that can handle that growth. It’s important to choose a solution that is scalable to support larger levels of inventory. Selecting a system that can grow with your brand prevents you from having to switch technologies every few years.
- In-Depth Reporting – Reporting is a must-have feature if you hope to better manage inventory. In-depth insights and analytics clue you into which of your products are most in demand, and which products have been sitting in your warehouse for an extended period of time. Other helpful reports include inventory summaries, comprehensive order histories and inventory totals.
Improved Inventory Management
At Dotcom Distribution, we know inventory management is a serious business requirement. Using integrated tools and technology, we’ve helped hundreds of growth-minded eCommerce brands develop and maintain strong strategies to better manage inventory and fulfillment.
When you choose Dotcom Distribution, you’re choosing advanced analytics, scalable solutions, and reliable resources. Let’s chat. Contact us today to get started.