In recent times, inventory management is highly crucial for every product based business. You need to ensure that you have products on hand to keep up with ever-increasing customer demand. It helps the online business to dispatch the product immediately when customer demands it. Hence, online inventory management software is used to keep a check on the cash flow and maintain it by getting inventory under control. Online Inventory Management Software is a highly sophisticated mobile and web application designed to address the inventory management needs of online businesses. It enables the users to track and transfer stock, manage orders and build smart strategies to manage online business from anywhere using internet enabled devices. Here are some of the features of online inventory management software which makes it must for every online business:
- Control of User Access to Online Inventory
- Convenient import and export of data
- Easily search and filter data
- Tracking your inventory costs
- Advanced re-stocks reports and warnings
- Applying a unique tag to items
- Customize your inventory
- Storing items in multiple locations
- Keeping a historical record of your data
- Transactions in real time
These appealing features of online inventory management software help online businesses to extend beyond traditional CRM functions and achieve seamless integration between pre-sales and post-sales activities in a single application.
What are the benefits of online inventory management software?
Online inventory management software has helped online businesses to become smarter and cope up with their customer’s demands effectively. It provides pool of features to online businesses. Here are some of the benefits of online inventory management software:
Becoming more efficient-
Every online business seeks to become more efficient than before to enhance visibility of their products. That’s what online inventory management software offers. It lets your business have comprehensive visibility of your products without the need of counting or tracking them manually. The software is updated as soon as products come into your warehouse. It also gets an exact assessment of how many products you have and where they are placed. Hence, it eventually makes working of the business efficient and more organized.
Saves money-
Online inventory management software facilitates you to get real time reporting of data which enables you to instantly see popular and not-so popular items. During re-ordering your items, you get a better idea of which items are to be ordered less and which items are to be ordered more. It eventually helps the business to become more cost effective and facilitates it to spend money intelligently.
Customer satisfaction-
Satisfied customer is an asset for a business. So inventory management software helps you to get instant audit of a product’s journey from purchase to sale. This enables the agents to track the queries of customers clearly and resolving them as soon as possible. Hence, customers get fast and accurate responses to their questions that build a strong image of your company.
Scalability-
With increase in profits, products sold by your company will grow significantly. Hence, online inventory management software sets up processes that will scale up your company to cope with increasing customer’s demands.
These benefits help online businesses to maintain a balance between cash flow and inventory levels to avoid risk situation for your company.