There are lots of inventory control systems on the internet today. You may be overwhelmed by the ideal inventory software to pick for your business. Some software possesses millions of features, some of which are irrelevant while others lack standard features.
Inventory management is never easy, more so if you are a large organization. Getting the perfect inventory software is the best solution for your business. However, not every software will be suitable. There are some parameters to consider when picking your ideal inventory system.
Here are some of the basics you have to consider:
Automatic Inventory Restocking
You do not want to wait until all your stock runs out to order more. You will most likely lose the sale if the product is out of stock when your customer is ready to buy. However, it is not only the sale that is lost, but the customer also loses trust in your company, and the chances of seeing them again are very slim.
They will, therefore, end up going to your competitor. Some of the proficient inventory software has an automatic restock feature. All you do is set a limit for the products. Once the product is below the set limit, the software will order for restocking.
For example, if your business deals with bags of cement, you could set a limit of 20 bags in the system. Once the number of bags gets to 19, the software automatically places an order for more bags. This eliminates any guesswork and allows you to focus on other important aspects of your business like marketing.
Tracking of Inventory
It is detrimental to invest in an inventory software that does not track all the inventory. Inventory tracking is very crucial to a business and could lead to huge losses if not followed up properly. When looking for an ideal software for your business, this is one factor that can not be ignored. A perfect software for inventory control should work with all e-commerce logistics.
The software should give you the exact location and the quantities during the fulfillment process. Check whether the software has barcode tracking, whether it has real-time dashboards that contain the inventory data, and also whether the system has quality control. These are some of the most important inventory tracking features you want to ensure are present.
Also, check if there is a barcode scanning feature. The impressive feature tracks the movement of inventory in the warehouse and makes the process much faster and provides more accuracy.
Inventory Software with Mobile Access
Check whether that inventory system you want to pick has mobile access. If your retail or online shop is in one physical location then software that works on a desktop alone could be ideal. If you run out of several locations then you need an inventory software that has mobile access.
User Friendly Inventory Software
The e-commerce logistics and the entire software ought to be easy for navigation. It should be simple and efficient to save on time. That means you should avoid overloading the system with unnecessary stuff that is not useful in any way. The ideal inventory software should also contain new user training.
For someone who has never encountered an inventory management system, getting acquainted with it could be a problem. That is why the new user training is crucial to saving time when training new employees. Before making the purchase, assess whether the software has training features such as video and audio.
Check whether users can engage a trainer on the software and ask for help where they are stuck. User-friendliness could mean different things to different business owners. The perfect way to check whether an inventory management software is good for your business is trying it out. Luckily several programs have free trials where you can experiment to find the best fit.
Inventory is basically the backbone of every business. Every business owner wants their inventory to sell to the ultimate amount of consumers possible. When the customer is ready, you want to be ready too. The inventory control software you choose should be able to manage your data and integrate with other systems for a smooth transition of goods.
Before purchasing any inventory software, look at the integration networks available. Does the software offer you the integration your business requires? Does it have an API? Ecommerce logistics is crucial to any business and the systems have to be integrated to operate perfectly. You ought to choose a software that easily integrates with other systems.
Inventory Trend Analysis AKA Forecasting
One amazing feature of the inventory management systems is the ability to point out how many units are remaining in stock. However, some inventory software can be able to predict what are the future needs in terms of inventory. Your inventory cycle provides data analysis that can assist you to make informed business decisions.
You can use your past data analysis on the trend of inventory during a certain period and if you predict a rise in the purchases you will get more inventory in anticipation of the period.
You need data to assess how your business is doing. Reporting assists in making better decisions regarding purchasing and future operations. With reporting you are sure your decisions will be informed, you will never run out of stock or oversells. Some of the reports include Purchase Orders, Replenishment, and Transaction History. Your ideal inventory software should have these but also include other reports. For accuracy in your inventory, you could get software that offers customizable reporting solutions.
The Bottom Line
Ecommerce logistics should never be another nightmare you have to deal with. Get the right systems to work for you and soar your business to greater heights. Make sure you have the right systems and software that will give you results.
If you cannot find an inventory software program that meets all of your critical unique needs, it might be time to consider a fulfillment partner. As your business continues to grow, managing inventory will become a more problematic due to its growing complexity.
How QuickBox Approaches Inventory Management
Inventory management and control is the most important and sensitive task for an e-commerce site as the overall process is related to the consumption of the end-users. Both front and back-end inventory controlling and monitoring is done proactively.
- Step 1: It starts with acquiring products on our production floor quickly and precisely where the right amount of products and the original quality are maintained rigorously.
- Step 2: The products are stored safely and securely, preventing minimal error or mishaps occurring when the product is in our custody.
- Step 3: Successful delivery of products to the end-users with the perfect boxing system of each specific product guaranteeing your desired customer experience.
Throughout the entire process, the products are handled with expert hands, and the overall fulfillment procedure is done by eliminating the chances of inefficiency by 99%. The Advanced Inventory Control Technology System lets you run business economically, effectively, and efficiently. A slight error can create a big setback; but a perfect inventory workflow system would earn you profitability, the trust of customers, cost minimization, and overall optimize the welfare performance of your company.
QuickBox is a trusted third-party fulfillment partner of direct-to-consumer (D2C) brands. The company offers its clients fulfillment, vendor management, and supply chain integration services. In addition, it offers private label services with over 50 health, beauty, and pet products. Its specialized focus and commitment to operational excellence led to rapid growth in the health, beauty, and pet segments. QuickBox has more than 300 employees in its Denver headquarters and Atlanta, Georgia, distribution center. More information is available at www.quickbox.com.