We know there are many moving parts and frequent unexpected changes in the efficient management of inventory. Whether it’s numerous products, lots of suppliers, or multiple locations, it can be complicated overseeing your inventory operations.
As your business grows, it becomes more critical to have the inventory management tools to efficiently and accurately oversee the many active components. Effective inventory management software makes it possible for your business to buy, store efficiently, and sell stock and products essential to your growth.
Fulfilment is the one thing that all online sellers concentrate on more. After setting up seller accounts on platforms like eBay or Amazon, the sellers get ready for their first order. But then, what if you’re lucky and your first order is a hundred in quantity from the same region! The product inventory is unorganized over several warehouses; you lack enough staff to fulfill the orders. What’s worse, the product listing on eBay and Amazon displays next-day delivery; not feeling lucky after all.
A practical solution at this moment is needed. Dealing with employees, putting the extra hours, packaging, printers to print bulk labels leaves you in a tough situation. If the shipping partner doesn’t support same-day delivery, then most customers tend to cancel a delayed shipment order.
Your reputation as a seller is at stake. The overhead costs increase, to find a shipping company in your location, which delivers on the same day and paying more than you have to. Although fulfilment is essential, so is the fulfilment cost.
What is inventory management software?
Inventory management software is a business application system that helps oversee the storing, and selling of your products. This software can track everything related to inventory: raw material or finished goods, product sales, ongoing inventory, and more.
Inventory management software aims to maintain the correct stock, at the proper levels, in the right locations, to meet customer demand and reduce costs for your business.
To keep fulfilment costs under control here is what you can do:
- Manage multiple-warehouses
- It cuts down the shipping costs by bringing your products closer to population concentrations that generate high demand. It also reduces transportation costs.
- Inventory management software
- Inventory management software helps keep track of all of your inventory, ensuring that you don’t oversell products and it helps you keep track of demand – that can be useful for demand forecasting.
What are the benefits of inventory management software?
If you’re looking at reducing inventory management costs, intelligent and efficient inventory management software can help you. Here are some key benefits you can expect:
Accuracy – Nventree helps to improve inventory and order accuracy. Fewer errors mean less time spent by valuable employee resources to fix them.
Cost savings – optimum inventory levels reduce costs since you’ll spend less money storing stock that is surplus to demand. On the other hand, it will also be easier to avoid items being out of stock.
Visibility – a clear dashboard can tell a visual story of inventory management and gain deeper insights into your business’s growth. In real-time, you’ll see: where inventory is going, who your biggest customers are, what products are most popular, and what improvements are needed to drive future cost savings.
Productivity – streamlined software increases productivity as your employees can focus on other projects and activities.
Customer retention – on-time orders make for happy customers who provide repeat business, positive product reviews, and promotion of your products.
How can Nventree help reduce fulfilment costs?
Nventree is an inventory and order management software that was built with business streamlining in mind. The software makes many aspects of running your business easier and helps you focus more on growth and expansion. Here’s how Nventree can help you:
Multi-channel support
It keeps track of inventory across multiple sales platforms – no matter on how many online platforms you sell on, whether if it’s Amazon, eBay, Etsy or your own Shopify, Magento, WooCommerce website, Nventree keeps track of your inventory so you don’t undersell or oversell products. Being able to track inventory across multiple channels using one interface saves you time and you don’t have to hire additional employees to deal with multiple channels.
Multi-warehouse support
Nventree helps keep track of inventory no matter in which warehouse they’re in. You can add multiple warehouses and Nventree takes care of the rest. This eliminates the need for you to purchase any additional software.
Built-in order and label printing
Nventree allows you to print out orders, labels, picking and packing slips, and invoices directly for the interface, making it easier for your employees to streamline their workflow. This also eliminates the need to purchase any additional software that serves this purpose.
Automation
Send automated emails when you dispatch orders or add tracking numbers, this way Nventree helps to keep the fulfilment process transparent and notifies your buyers regarding the status of the order.
Business Overview
Nventree gives you a clear overview of how your business is running, what are your top-selling products, how you are performing in terms of sales compared to a previous period. You can also download reports that help you created demand forecasts and end-of-month performance reports.
Conclusion
Order fulfilment and shipping are the determinants for gaining or losing potential customers. So wait for no further to plan inventory and optimize order fulfilment for your eCommerce success. To sum it up, make use of customized inventory and order management system to streamline the entire activities in just a few clicks.
For more information on our custom inventory and order management software, please feel free to contact us.