A streamlined digital inventory management system is crucial to your business, be it a small to medium retail store or larger wholesale company.
A recent industry report has shown that over 70% of online shoppers will take their business to your competitors rather than wait for you to reorder an out-of-stock product. On the other hand, too much stock can have an adverse effect on cash-flow and operational resources.
An automated system can remove the guesswork and costly trial-and-error when managing inventory. Here are the main business benefits of a digital inventory solution:
- Enhance the accuracy of orders and make smarter decisions when it comes to determining how much inventory you should have on-hand by accessing customer purchase trends and analytics. This prevents product shortages and allows you to always have a sufficient amount of inventory to meet customer needs.
- Avoid unnecessary expansions and rental costs by optimising your warehouse or retail storage space. By analysing rich customer data, you can easily determine which products are your best sellers, which are the slowest moving items and which product combinations your customers order most frequently. This will enable you to reduce wasted space and costs associated with excess stock while slashing fulfilment turnaround times.
- A fully synchronised inventory management system allows you and your sales staff to remotely track inventory across multiple locations from any mobile device to ensure that you always have enough of the “right” stock to meet consumer demands, regardless of the number of sales channels you use.
- Business needs can change frequently depending on a number of factors. A synchronised digital solution can adapt to changing inventory needs on the fly, whether it means price changes across all product lines or expanding or reducing the size of your inventory. Instant scalability means you can effortlessly mitigate the need for time and resource consuming manual updates to your inventory.
Saleslogic is a suite of synchronised ecommerce solutions that offer automated inventory management and numerous other features designed to streamline your sales processes. For a limited time, you can get Saleslogic free for 14 days! Learn more: