Inventory Management For Online Business
Online selling is the new normal for brands since the pandemic has started. According to Statistica, E-commerce market size was predicted to grow fourfold until 2025. Filipino online shoppers are increasingly flocking to e-commerce platforms for online purchases. These platforms provide a greater choice of purchasing options as well as reasonable prices.
Setting up an online shop is much easier and cheaper than having an actual shop. For sure you’ll have plenty of budget for other things that can improve your business. An automated inventory management system should be one of the innovations you can get for your online shop.
Why get an automated inventory management system?
Inventory management may be difficult, and can be particularly unpleasant for a growing brand. Quadrant Alpha curated an inventory management system that is also suitable for start-ups. Here are some other advantages that you can have when you invest in a reliable inventory management system:
- Simplified inventory management
By far the most significant benefit of utilizing inventory management software is that it simplifies the process of maintaining your inventory, by saving your time and money. With fast changing of supply and demand throughout the year and your stock levels always shifting, inventory management software helps to reduce the risk of mundane error by automating your core business operations.
- Real time tracking of your inventory
You can accurately track the status of all your SKUs. Whether it is already out of stock, expired or damaged. This can also allow you to allocate stocks to your different sales channels and warehouses.
- Allows better planning and avoid over stocking
Proper management and planning helps a business have better overview with restocking and only getting how much you need to meet your customers’ demand. Having good software can also help you with having data-driven decisions. This can also help limit the amount of days that an item is out of stock and prevent keeping too much inventory.
- Bid goodbye to manual tasks
Stock-taking, receiving and fulfillment can be improved by barcode and RFID scanning. Manual entry mistakes are reduced and repetitive activities are freed up by using QA’s software.
- Invest to better products
Having inventory management software can give you accurate insights about which products are slow-moving and which products you need to invest more. An efficient inventory management leads to improved company choices and cash flow.
- Improved customer experience
You can ensure consumers the availability of the items they need. You can also understand what your consumers want and need in the near future by evaluating their purchasing habits and other sales data. You can develop successful sales and marketing plans to meet their demands by purchasing a sufficient number of stocks to balance our revenues. As a result, your brand can gain loyal customers.
- Makes your business more organized
Inventory management organizes your business at its core, allowing it to function more efficiently. Having dependable software allows you to centralize your stock control system. This is highly recommended to brands that use multiple e-commerce platforms, to those that also sell their products directly to customers or to businesses that also have brick-and-mortar stores.
Quadrant Alpha has got your backs!
With QA’s Inventory Management System, you can easily overhaul your inventory processes. This is also a cloud based system that is highly reliable. You can access your inventory data anywhere and anytime with different devices. We also have a delivery module where you can track and control every step of your products’ delivery procedures. These are only some of the wonders Quadrant Alpha can contribute to your business.
Want to book a demo? Click here and let’s automate your processes now!