How Can Inventory Management Software Safeguard You From Inventory Struggles?
- by eSellerHub
To begin with, facing struggles with inventory management is a common scenario that most of the e-commerce business owners face. Solutions are aplenty, and it should rectify the right problem. Ultimately the right choice has to be made. The inability to access the most critical data for making the initial calculation before placing a purchase order is the missing piece of the puzzle. Managing out-of-stock, overstock, and obsolete stock is critical. When you have multiple channels where you sell your products, it becomes even more challenging to manage them all. Thus going for an inventory management software that is useful for your business is indeed a good investment.
Esellerhub’s Inventory management software is not only suitable for e-commerce portals, but also brick and motor stores. It is customizable according to your needs, and you can have the features that you use only. Since you can integrate the inventory management software in cloud solutions, it gives better accessibility at all times. It helps you to stay on track by managing inventory, check on sales, gather sales forecasts, and fulfill orders.
A trend that commonly prevails among e-commerce sites from the sellers nowadays is this false demand. To create urgency for buying a specific product, sometimes the ones in your cart show “only a few stocks left” notification. This demand perception plays with the mindset of the buyers. For a short duration, sellers create false demand, by updating less stock to kindle an urging rise of interest to buy immediately among the interested buyers. Ultimately buyers are pressed for time to think or analyze and hastily go for placing the order and proceeding for payment gateway.
Even though this might seem like a sly strategy, it has a higher chance of backfiring in the long run. The customer’s mindset always changes. If the product is so much in demand, they can alternatively purchase something similar to it at a different store and even at a lower price. This action results in loss of sales and decreases the chances of gaining a loyal customer for the seller.
Be On The Safer Side
Like every trend, getting customers to “buy now” needs an ever-changing strategy as customers are also continually changing their consumption preferences and pattern.
Thus practically applicable online inventory management can help you make the right decisions. By knowing the pattern of consumption of the consumers and precise stock levels, you can create robust strategies that don’t backfire.
Esellerhub’s online inventory management software suits every business as it can be customized. It’s important to understand that each business, even though it belongs to the same category, is different. In addition to inventory management, you can also manage order fulfillment and supplier management with Esellerhub’s online inventory management.
Get in touch to understand what Esellerhub can do with a free demonstration, and our consultants can help you with the customization according to your business logic. Call us at: +1 408 600 0534.