Retail Inventory Software – Is your future in the Cloud?

Retail Inventory Software - Is Your Future in the Cloud

The superior benefits of on-demand-solutions coupled with the proliferation of ecommerce and the growing preference for multi-channel retailing are fueling renewed interest in cloud-based retail inventory software. In this article, you will learn why the growing preference for cloud-based retail inventory management software is moving many retailers across the globe to replace their conventional on-premise solutions with on-demand cloud-based solutions. Retail Inventory Software – the big picture Several studies have been published by well-known market research organizations on the global retail inventory management software market. These studies were aimed at breaking down the market into distinct segments to provide a more in-depth view of the market. In the report published by Credence Research, the market was analyzed in terms of the deployment model (on-premise or on-demand), end-user (traditional retailers or off-price retailers) and geography (North America, Europe, Asia Pacific and the rest of the World). The target audience for the report was Industry Investors, Inventory Management Software Solution Providers, Distributors, and End-users. The report provided the target audience with in-depth insights to enable them to make informed strategic decisions related to opportunities in this market space. Based on information from this report and others like it, the target audience now has a better understanding of where the market is going and what it will take to be competitive and successful. This renewed focus on the global retail inventory management software market by key players will ultimately benefit your business by delivering competitive products and services from which to choose. The current state of the market for retail inventory software Up until recently … Read More

Is Inventory Management the key to your bottom line?

Is Inventory Management the key to your bottom line

Is inventory management the key to your bottom line? If you are in the business of selling products, your inventory may be your most important asset. If growing your business is your goal, then you must make inventory management your primary focus. In merchandising, inventory is the backbone of your business, and a healthy inventory management system will keep you on top. Take an in-depth look at how you’re handling your inventory today, if you are ready to take your business to the next level. It can make all the difference as to what shows up on your bottom line. Here are some benefits of building a robust inventory management system for your business: Your cash flow will strengthen Your inventory turnover will instantly improve You will be freed up to experiment with new markets Inventory management and cash flow When you manage your inventory properly, you get access to hidden cash. Cash flow gets stifled when you hold on to the wrong type and amounts of stock. To manage your inventory properly means that you will have the correct amount of inventory to meet your customers’ needs.  Not too little—not too much. And certainly not the wrong kind! This goes to say that you will have the optimal quantity of the right inventory to meet your customers’ needs. This also means you will reduce your expenditure on up-keeping of the wrong inventory. When you maintain the right inventory in the right amount, you will not have to worry about running out of stock. Sometimes when you run short on stock, … Read More

13 Reasons to use ecommerce inventory management software

13 reasons to use ecommerce inventory management software

Good ecommerce management is essential for accurately tracking inventory operations and efficiently managing multi-channel selling on marketplaces such as Amazon and eBay. If ecommerce inventory management is done poorly (which is often the case when executed manually) your business will suffer as a result. No ecommerce business should have to experience profit loss or a decrease in custom due to management errors, especially when these problems are easily avoided with ecommerce inventory management software. With ecommerce inventory software you can prevent problems such as stock outs and overselling. Not only is this the most efficient way to manage your ecommerce inventory, but this software is beneficial to many other areas of your business. 13 Ways ecommerce inventory management software benefits your ecommerce business: 1. Track all your inventory with one system With ecommerce inventory management software, it’s easy to keep track of your inventory all in one place.Each stock movement that occurs in your warehouse is easily tracked, as ecommerce inventory management software gives you a complete view of stock levels in real time. With such an accurate overview of your ecommerce inventory, you can prevent stock outs and avoid unfulfilled orders by distributing stock from existing inventory, enabling you to fulfill customer orders efficiently. 2. Avoid overselling With stock levels continuously changing, accurately updating ecommerce inventory levels manually is virtually impossible. Without accurate stock updates, you’re at risk of overselling which not only leads to loss of sales but unhappy customers.If your clients are sold a product that isn’t available, they will leave negative feedback and are unlikely to shop with … Read More

3 Reasons why an Inventory Management System is vital to business

3 Reasons why an Inventory Management System is vital to business

Any business that involves the manufacture, distribution, sale or use of products and commodities will likely be using an inventory management system to manage and control its inventory. Manufacturers and producers need to keep track of their raw materials and finished products. Distributors, vendors, and retailers want to know how much inventory they have in their warehouses, physical stores, and other sales channels at any given time. Even organizations that don’t necessarily engage in the sale of goods apply inventory management processes to monitor and regulate the use of company assets. No matter what type of business you run, inventory management systems are essential in helping manage and control inventory so you can increase workplace productivity, control costs, and realize more profit. So much time and money can be wasted when optimum inventory levels are not achieved, which is why business owners and inventory planners put a lot of effort into having an efficient inventory management system in place. Excess inventory means operating capital sitting idly when the money could have been put to better use. On the other hand, insufficient inventory can cause a business to lose customers due to out-of-stock situations. An inventory management system helps businesses make better projections by integrating all supply chain processes to prevent any of these undesirable scenarios. How an inventory management system helps grow your business 1. An inventory management system optimizes cash flow A healthy cash flow ensures seamless business operations. Especially for small businesses that do not have a significant operating capital to work on, having just the right amount … Read More

3 Proven tips to help you learn how to manage inventory effectively

3 Proven tips to help you learn how to manage inventory effectively

These three expert tips will show you how to manage inventory effectively and save money. Do you know how to manage inventory? Inventory management is one of the biggest problems that inventory-based companies face. It certainly does not help that this issue can quickly become unmanageable as the business starts growing and expanding its product portfolio. Think about the piles of stock that are lying in your warehouses right now. You will begin to see how poor stock management can affect your company’s profits negatively. Unmoved inventory represents working capital that your business could have used to run other parts of its operations. Taking stock and clearing out idle inventory should be a regular part of your company processes. That is why learning how to manage inventory effectively should be a top priority for your business. However, it is important to recognize that your efforts can be affected by certain factors. For instance, activities such as sales, procurement, and manufacturing can impact your inventory directly. It can also be influenced by outside forces such as dynamic trends and changes in the economy. While you could certainly study and predict some of these impacts, most are much harder to manage. Three tips that will help you learn how to manage inventory effectively Inventory managers must be able to take all these unique factors into account and develop an effective way to administer the company’s inventory. Here are three proven tips that will help you learn how to keep your inventory in check. 1. Keep lean stock Your primary goal should be … Read More

Inventory management advantages – How it can improve your business

Inventory management advantages - How it can improve your business

How inventory management advantages can grow your business Inventory management advantages are endless and can help your business prosper. With Inventory Management software you will make better business choices, boost profits and save valuable time. Retail businesses really benefit from effective inventory management. It sets them apart from competitors still using manual methods. Here’s how the benefits of inventory management software can positively impact your business: Effective decision making Making quick and efficient decisions is easier when you have instant insight into inventory levels, profit turnover, and product information all in one easy-to-manage system. You can sync various devices and cash registers and make immediate changes across all linked systems. Manage all your inventory in one place Inventory management advantages are great if you have multiple warehouses or a chain of stores. The benefits of inventory management software let you manage all outlets in a single system that’s also accessible through mobile devices and barcode scanners. Reduce expenses The benefits of inventory management software are that real-time inventory movement and product information is always available. You’ll get alerts on the number of goods on your shelves and any item shortage. Having this information on hand increases productivity and allows you to make correct and timely decisions regarding stock levels and repurchasing. These insights are useful as they help cut down expenses by eliminating the risk of under or over buying. This software can help you put savings back into your business due to reduced operating costs. Integrate inventory data and ecommerce Want a complete overview of your business? Inventory management software can … Read More

6 Reasons why inventory management will help your business grow

6 Reasons Why Inventory Management will Help your Business Grow

Find out why more ecommerce start-ups are turning to inventory management to grow their businesses into multi-million dollar enterprises. Starting your own ecommerce website in today’s market might seem like a very daunting task. Going up against the already established businesses is not easy. Furthermore, matching the low prices offered by these veteran online merchants is a difficult prospect for startups that might not have enough financing to ride the wave until they start breaking even. Ecommerce startups must find a viable way to exist and thrive in this competitive market. That is why it is imperative for ecommerce startups to integrate multichannel selling in their business models. Not only will this help counter the competition, but it will also help them reach potential customers faster. Where does Inventory Management come in? Using multiple platforms to sell your products has many advantages for ecommerce start-ups. It allows you to increase revenues while giving your business opportunity to grow. However, it is not exactly an easy process for small businesses. Different platforms offer different levels of competitiveness, and you might have to tailor your prices to reflect that. Related fees may also vary across the platforms. So, how do you know how much profit you are actually making? Keeping track of inventory will further compound the problem. Let us say you have 20 items in stock, and you put them up for sale. You sell 15 of these on your site but then receive seven orders of the same from your listings on eBay and Amazon, for example. However, you have not yet … Read More

Can inventory management software really help distribution?

Can Inventory Management Software Really Help Distribution

Why is inventory management important? Inventory software makes managing and tracking stock simpler and more efficient. It can also reduce carrying costs. It is vital for distributors to track goods throughout the supply chain. However, accurate inventory management software can offer even greater value. The advantages of inventory management software: 1. Supply chain information: By using inventory management software, you can gain a lot more valuable information about your business. Inventory management software provides you with ‘supply chain visibility.’ In simple terms, it allows you to track inventory at each stage of the supply chain. For example, when it is fully optimized, the software can provide you with information regarding your inbound and outbound product flows. This information can enable you to plan, organize, or take action if necessary. It can also allow you to analyze all of the details, which helps in making strategic decisions, not to mention forecasting future demand. 2. Quality management: With both durable and nondurable goods, there can be problems. In both cases, there can be delays. For perishable goods, this can have a severe impact on their shelf life, giving you a limited amount of time to sell the products before they expire. On the other hand, even with durable goods, delays can cause problems especially if the products are seasonal. For example, if your shipment of Christmas ornaments arrives in January rather than December, you will have missed peak demand and most likely will be forced to sell at considerably reduced prices. Equally, perishable and durable goods can arrive broken, and this can be … Read More