Why an Ecommerce site needs a Web based inventory management System?
Do you know - that not managing inventory appropriately would end you up paying extra compared to companies who operate at optimal inventory levels. Efficient web based inventory management may often create a difference in making the sale rather than losing it to a competitor. In the hustle of marketing your product and managing other factors related to business, its vital to know what products you are having and where it is placed otherwise you will definitely have a tough time selling it. Also, an effective open source inventory management software will help you to have complete control over your money flow rather than leaking money at an alarming rate.
Traditional inventory management has been one of the most dreaded and time-consuming tasks carried out by the sellers. It engages the staff who can focus on other facets of the business that would help the business to grow. Even after taking so much time there used to be many errors and confusion handling the inventory management system. Let us see this with an example.
Here’s a basic math’s question for you: Ken has 40 fitness Gloves in stock. He sells 8 of them. How many gloves does he have? Obviously, here the answer is 32.
Now another question: Ken has 40 fitness gloves in stock. He receives an order for 8 gloves and ships four of them out to customers. How many gloves are in ken’s inventory? Here the answer would be 36.
These questions might sound imprudent to you, but they are the actual challenges inherent to an inventory management. An efficient web based inventory management software goes beyond simple arithmetic. Ken has 36 gloves in his inventory because four gloves are delivered and four are yet to get delivered. A web based inventory management system unless and until completes the loop would not deduct that product from the inventory. This kind of contingencies makes an organization, technique and automation crucial when you have large SKU’ s to track and manage.
A smart web based inventory management system efficiently oversees diversity, volume, pricing and the location of the business where products are available. If a product is in stock, it is counted as part of the business inventory and managed as it moves through the supply chains. And, as per the evaluation by the smart web based inventory management system, the availability of product is then displayed on the main purchase page online.
A business requires much attention as it requires for a new born baby. One of the clever ways to give constant attention to your business is through inventory tracking.
You should be well aware of
- Where your inventory or product comes from?
- How much stock your business has? and more importantly
- How much profit your business can gain or has gained from the sale of its inventory.
Why is the Web based inventory management important in today’s world?
When it comes to inventory management it should be precise. The stock is the lifeline of your business, maintaining it right is crucial to your operations. Shifting your regular in-house inventory to web based inventory management system is important for several reasons like:
- It Provides accurate information of the amount of stock you have with you
- Through simple clicks, this open source inventory management software can tell you whether you have enough stock for your forecasted sale or you need to order more.
- The automated nature of the software eliminates even slightest human errors
- The web based inventory management system lets you easily identify any in-house theft if occurred by chance.
- This software gives a complete story of your business – Like how much you sold and the products that aren’t selling, also the changes required to grow your business.
How Cloud based inventory management is helpful for your business?
A cloud based inventory management system is able to track your product or a particular SKU in real-time. Products usually have either a barcode label or an RFID tag so that they can be scanned an identified by the system. And this is how the systems are able to provide visibility of inventory levels, item location, expiration dates, forecast demands and many more.
You might also have come across the term IOT. IOT (internet of things) connects to all the object around us and allows us to communicate with the object and thus we can have access to info about the objects around us. This IOT could positively impact cloud based inventory management system by efficiently tracking and communicating with the products. For example, the RFID tags will provide more detailed information about the object and would communicate that to an inventory system. Also, built-in RFID’s with GPS location give more detailed information about the weather, temperature of the place where the product is placed, also if any damage is caused to the object, etc.
How KartzHub software is different from other cloud based inventory management system? And how it can be beneficial to your business operations?
KartzHub offers the next generation Cloud based inventory management software that would help you to boost your sales, forecasting, profitability, and demand planning. The most important factor is that it is built in with cutting-edge cloud based technology which makes it one of the most preferred platforms by many sellers.
It Integrates with
- Local, national and international marketplaces across the world (E.g.: Amazon, eBay, Etsy and many more)
- Shopping carts like Magento, Shopify, WooCommerce and etc.
- Shipping Carriers like FedEx, Bluedart, DHL and many more
- Accounting Software like QuickBooks, Xero, and others
It gives the free flow of information to every department whether it’s related to incoming orders, shipping costs or the transaction details. As it is a cloud based inventory management software you can know the exact stock details or the last transaction from anywhere in the world. Less Human intervention and more accuracy.
For more details, you can contact one of our executives and also get access to the free 14-day trial period.