For most ecommerce merchants, inventory is their largest asset. Yet the back office function of inventory management often gets the least attention. Top sellers are increasingly finding that automating inventory management not only saves time, but contributes to cost savings and increased sales. Check out the tops benefits of using an inventory management software.
1. Saves Time
If you sell across multiple channels you know how time consuming it can be to keep up with inventory levels. It can take hours of logging in and out of multiple accounts and manually updating data to make sure stock levels are accurate and optimal.
Ecomdash not only replaces tedious inventory tracking, it does it quickly and accurately. Our online tool tracks all incoming and outgoing inventory and syncs levels every 5 minutes. If a product is sold on one marketplace, ecomdash automatically updates product levels across all sales channels, including your online store if you have one.
One of our many success stories includes one company who saved at least 50% in employee resources when they started using ecomdash to manage their multichannel inventory syncing.
Time is money. If you don’t have to spend hours updating product levels you can spend the time on activities directly tied to increasing sales and attracting customers.
2. Increase Customer Satisfaction
Product availability ranks as one of the most important factors for online shoppers. They want to know the product is in stock and ready to ship. With so many online shopping options, shoppers won’t hesitate to abandon a cart and buy somewhere else if the product you offer is not available.
Keeping accurate inventory numbers is difficult and time consuming to track manually, especially if you sell on multiple marketplaces. Ecomdash gives sellers a real-time view of their product levels, syncing inventory across all sales channels up to six times faster than most inventory software products on the market. We also have a feature that sends an email alert anytime you are running low on inventory, ensuring you have just the right about of stock on hand.
3. Reduce Excess Inventory and Overselling
It’s a delicate balance, having enough inventory to quickly fulfill orders, without tying up cash carrying too much stock at any given time. Stock-outs are expensive too. Industry statistics show running out of inventory causes an estimated $25 billion dollars in losses for individual businesses every year. The key to striking a balance is having accurate and timely inventory information.
By syncing supply and demand, ecomdash gives online sellers the ability to keep a steady supply of products without overstocking. If you’re a dropshipper working with manufacturers and warehouses, ecomdash consolidates and syncs information between you, your warehouse and your sales channels, all from a centralized dashboard.
One of our customers saw a 92% decrease in backorders after using our inventory management software.
Inventory management may not the most exciting aspect of ecommerce business, but it’s the backbone of selling products online. Getting it right, under control and doing it fast is what sets successful companies apart from the rest.
Check out these tips on how to choose the perfect inventory management software to find your perfect match!