For an eCommerce business, accurate inventory is an indispensable part of being able to do the job properly. Anyone running an online store will be aware of the complications that can be caused by not knowing what you have, how much of it you have, and where. If you’re not on top of your real-time inventory, you’re not on top of anything as an eCommerce business owner.
Indeed, inventory has always been important in business, since before eCommerce was even a thing. Stores would work through the night, and even have closure days in order to complete as accurate an inventory as possible. These days, that’s not necessary, as long as you’re working with accurate real-time inventory services. Below, we’ll look at the ways a real-time service like the one provided by Ship Joy can revolutionize your inventory management.
When you provide products to a customer base, few things are as important as speedy fulfillment. You know yourself that when you order something, you prize a prompt delivery – and this is achievable when inventory is managed in a way that is instinctive. When you know how much of a product you have – and in the case of multiple warehouses, where you have it – you know how quickly you can fulfill an order – and more importantly, when you need to order more so that the supply chain doesn’t slow.
So much of commerce in the modern age relies on data. When you can read patterns, you are able to predict when you’ll need to make a larger order for something, and also when you can ease off on ordering it to avoid overstock. In eCommerce, where profit margins are so important, accurate real-time inventory means that you can avoid tying up too much of your capital in stock – and also save yourself from having to pay more for expedited orders.
One thing that you either know before getting started in eCommerce, or learn quickly if you don’t, is that reordering isn’t simply a case of noticing stock levels are low and deciding to do something about it. Some items sell faster than others, some have longer lead times, some can only be ordered in certain quantities – these patterns make reordering a complicated process. Smart inventory management keeps track of how quickly items move when they are becoming scarce, and when it is the optimum time to reorder – ensuring a smoother-running warehouse.
A Better Customer Experience
We’ve all been at the customer end of an online order, and therefore we know what an annoying experience it can be when it doesn’t go right. That makes it uncomfortable to be on the end of the order that isn’t getting it right. Real-time inventory management a la Ship Joy means you can ensure that you don’t run short of stock and can ship from the best warehouse for the customer’s purposes, minimizing their wait time and enhancing their customer experience. Better for the customer, better for you.
Managing your inventory with Ship Joy means you can be confident of getting it right time after time, ensuring the best results for your business.