So you’re an entrepreneur in need of inventory management software. You took a leap of faith and started your own eCommerce/retail business selling a product(s) you’re passionate about.
You’ve weathered the initial storm of finding suppliers, developing a website, and deciding which platforms to sell on. You invested in accounting, shipping and other software to get your business going.
And, then, lo and behold, people came to your website! They bought your product! You saw your numbers continue to grow and grow! You went from housing your product at your house to a storage unit and then graduated to a warehouse. That’s when things started getting complicated…
You started losing track of where things were and started seeing more returns. At times you realized that you were out of stock of your best sellers. You’re running around when orders come in trying to locate the right products to ship as fast as possible.
Things are great because you’re growing, but you’re also finding yourself not able to focus on managing that growth as you’re too busy managing your warehouse.
Don’t worry – you’re not alone. But, now, the question is: How do you manage the growing pains and focus on your business instead of the supply chain? Because, remember, you didn’t start your own business to become an expert in supply chain logistics.
Here’s how the numerous others before you were able to leverage inventory management software to help them get out of the warehouse and back to the basics of their business.
Implement Inventory Management Software
As you know, in today’s retail/eCommerce environment, standards are tightening. People have the highest of expectations when they order items from an online retailer.
They want what they ordered, tomorrow, with zero issues. It’s the Amazon effect. For better or worse, it’s the reality of the space you operate in, so embrace it. And make sure you’re doing what you can to meet these lofty expectations.
Adopting inventory management software allows you to have what you sell available so you can ship the right item to the right person FAST. It helps you build the machine that is the warehouse operation, so you, as the business owner, can be reassured (through reports, analytics, KPI’s, etc) that things are running well.
Look at Inventory Reports for Data
Again, you didn’t start this business to become a supply chain logistics expert and now that you find yourself in that position, you’re probably realizing what you don’t know.
You’ve found yourself having to understand two sides of the coin, logistics and fulfillment. You’re then tasked to have both of these function without an error. If your background isn’t in retail (or even if it is) you probably don’t know much about picking methodologies and the basic metrics needed to run an eCommerce/retail business.
An inventory management solution can take that pressure and burden off of you without sacrificing access to the details. Just imagine a time when you can simply look at a report in the morning and have an overall understanding of what’s going on with your company. What you’ve sold, how much you sold, where you sold it from, etc. And better yet – you’ll know there were no mistakes.
Utilize Inventory Management KPIs
An inventory management platform serves as a guide to help you improve what you have and assist you as the eCommerce/retail industry evolves.
For example, inventory KPIs can be easily tracked with the help of inventory management software. Users can better track the rate of successful package deliveries with quality control. Tracking a quality control KPI ensures you’re building a good brand reputation with correct and on-time deliveries.
Users can also better track the location of inventory. With an inventory management system, inventory locations are more visible and quantities are always represented accurately. When you move operations out of a manual spreadsheet, inventory counts and locations are automated and kept up-do-date at all times.
It’s time to get back to the basics of running your business. It’s time to focus on the reasons you started this business and the core competencies that allowed you to grow it in the first place.
By adopting inventory management software like SkuVault, you’ll have a partner in the ever-changing eCommerce landscape. Stay ahead of the curve with new inventory features and analytics at your fingertips.