Even if your inventory management is good, there are things which become more complex when you already have a number of ecommerce businesses and offline stores. Time comes when small retail businesses do not take care of their inventory to balance other complexity.
Order fulfillment comprises various events taking place within a long process. It includes inventory, finding product, packaging up, picking up, and shipping it via registered medium.
eCommerce inventory management has multiple factors like what products your sale, what type of customer you have, how payment process occurs in your business, what is your business size and many more which might vary with business to business.
There are two things for which customers are very excited, first is discounts/ offers/ deals and another one is special things you offer to your customers. Purchasers need to feel like the value they paid was reasonable.
Enterprise businesses have the main market of Magento. Magento supply chain can be very big as business requirements. The main goal of inventory management is to monetize and smartly handle product stock holdings and related costing.
Our WooCommerce integration allows you to easily set up multiple WooCommerce stores from one Erply account, enabling you to sell different products across multiple e-commerce sites. Set up price lists for different sales campaigns, map together shipping fees with existing shipping products in your Erply account, then assign a warehouse for every integration so that your product quantities will always be synced and accurate.
We also enable you to set different document types for paid or unpaid purchases made on your e-commerce site. This enables customers to purchase items online, then pick them up in your brick-and-mortar stores. Orders can be easily pulled up on your Erply POS system and can be paid by card or cash.
Our WooCommerce integration panel allows you to easily select the product fields you wish to sync over to your WooCommerce webshop. You may also create new product fields to WooCommerce without having to manage the information from two different environments.
Real time order syncronization
Purchases made in your online stores get reflected back to Erply in real-time making it really easy for you to keep track of all your sales from one place. Each sales document is also associated with the correct shipping information and can be easily found in the Erply POS in case the customer wants to make an in-store pickup.
Warehouse & Product Management
With the Erply to WooCommerce integration, everything works seamlessly in real-time.
Once the integration is active, all product changes made in your Erply account will be sent over to your WooCommerce webshop in seconds, ensuring your customers always have accurate product information.
You can have full control of your entire inventory and can easily transfer inventory between different e-commerce sites as well as your brick and mortar stores.
Centralized Customers Management
With our real-time integration, all of your customers and purchases will be transferred to your Erply account immediately after a webshop transaction is completed. New customers will be added to your Erply account whenever a new purchase is made. If a customer makes multiple purchases in your webshop, we’ll add all orders to their existing record in your Erply account, ensuring you always have accurate information about your customers’ purchases.
Erply’s powerful reporting tool that you have already come accustomed to will also provide a wide variety of reports where you can see all your online and offline sales and make comparisons between different sales channels to gain a better insight of your day-to-day business and also make decisions based on the reports provided to you.
All e-commerce orders and invoices can be filtered in Erply making it really easy to create various sales reports and comparisons between different e-commerce stores and your brick and mortar stores.
Whether you have a wide range of products or you just want to set up different e-commerce stores the integration offers you the possibility to do so. Our integration enables you to sell different products in different e-commerce stores and you can also make the use of our price lists management that lets you define the exact prices for each product in each store.
What Is Inventory Management?
Inventory management is primarily the monitoring and maintenance of stocked products. It consists of all the administrative tasks involved with measuring and keeping track on incoming and outgoing products and all the inventory on hand.
Inventory management helps to protect regular and planned course of business against any disturbance of running out of goods. It shows how much stock you have, it reduces errors or “walking stock” and helps to make future plans to grow your business.
It can be time-consuming and boring task, which might steal staff away from more important assignments, but it is also important to run an effective business.
Well-functioning software is a great asset for stock management.
Efficient software will provide you with up-to-date information. This data should also be available to every person dealing with inventory.
Correct inventory should be seen in real-time and different reports should be always there when you need them.
Software should allow you to manage stock everywhere. It is important to be able to access your inventory from different sources (laptop, tablet, smartphone).
It is useful when new points-of-sale and e-channels are easy to connect.
Look at how your stock moves
Implement an FIFO (First In First Out) method. This way the stock rotates and you don’t have too much old products in your warehouse.
Optimize the amount of products in your warehouse. There should be a minimum amount for all items and also a higher quantity for more popular products.
Special sale offer is a solution to get rid of old and unpopular goods.
Analyze and plan
Keep an eye on market trends. They give you suggestions on which products are becoming popular.
Be sure to get the best deal possible when ordering from suppliers.
Good inventory management software provides you different reports and sale history that will help you to make plans for future orders.
With such countless retailers presently offering new client limits and advanced coupons, it's presumably a coupon code exists to apply towards your next online buy. Retailers routinely add coupons and limits into their showcasing procedures to help deal change rates and increment client devotion.
Inventory management software helps you keep track of your stock, helps to manage orders, sales and deliveries. Its main purpose is to avoid overstocking or prevent shortage of goods.
Inventory management system is not just an inventory management software, instead it is a set of integrated software and hardware tools used according to rules agreed among companies employees.
What is Order Management?
Order management is a series of actions a seller needs to follow in order to deliver the goods or services that have been ordered by the customer. It is a process that begins when the customer sends the order and ends when the customer receives the goods. It is a chain of actions you need to complete faultlessly to guarantee a successful sale in the end.
Get In Control of Your Orders
You might have a good product, but it’s no use if you can’t deliver it or deliver it too late. That’s the most important reason why you should get your orders under control. You have to be up-to-speed and always prepared to fulfill customer orders.
Besides keeping your customers happy, good order management software will also help you analyze sales and make investment and future plans. It will show the shortcomings in the order management chain. When your orders are under control you can see clearly what the most profitable products are and based on that information it is possible to plan future product ranges and make further business decisions.
Order management should be synchronized with inventory management so that you can manage all your work from one software. This way the length of the order creation and tracking process is shortened and you won’t have to worry about data errors or missing information.
Inventory.com is a powerful online industrial product search engine to offer producers and buyers the ability to find quickly and effectively a healthy number of clients. Inventory.com is targeted at 22 million SMEs in the EU who are seeking for opportunities to expand their client base and find new suppliers to optimize costs.
Innovative B2B e-commerce
We enable innovative functionalities for B2B e-commerce. Online transaction platform. A manufacturing SME, who wants to expand their business through online sales does not need to create an individual online store with high setup, administrative and regulatory costs. A single-company store would receive low visibility in search engines.
Input sensitive user interface
A company adding their products to Inventory.com can easily categorise the product to the right product group. This has crucial importance for ensuring the comparability of products.
Integration with inventory and other software
The users of Inventory.com can see real-time information of inventories. Thus, a firm does not need to approach a supplier for further information on potential delivery times, price and product availability. Inventory is highly compatible with different business software.
Online payment platform with deposit option
The business risk for a company buying from an unknown foreign supplier will be decreased. Inventory.com contains a deposit service, which releases the payment to the supplier only after the buyer has confirmed they have accepted the order and are satisfied with the quality.
High quality product information
We emphasises product and price information availability as this is one of the greatest challenges SMEs face when making transactions.
Easy and inexpensive
Inventory.com makes account set-up simple and compatible with their existing software. Pay when you trade only!
What Is Periodic Inventory System?
A periodic inventory system is a solution for inventory management. Periodic inventory is suitable when there is no need for daily track of inventory. It is harder to see if something is stolen, lost, or spoiled because the data is collected periodically. After a certain period a physical inventory is performed, and the results are then compared with the data from the previous stocktaking. Between these periods purchases, cost of goods sold, and goods on hand cannot be checked. Usually this information is not that necessary for company officials.
Who Should Implement It?
Periodic inventory system is meant for companies who do not want to make large initial investments or do not have enough resources (labour or system) to implement more complicated method. Periodic inventory might be a solution for a start-up business who wants to start the sale as soon as possible. But sometimes it is the best choice for inventories consisting of large numbers of low-cost items.
How Inventory.com Helps Setting Up Periodic Inventory system?
First you need to import your stock to Inventory.com and do an initial physical stock taking. Inventory.com offers you printable stocktaking lists and mobile, tablet or desktop software for this task. After the data is imported you are set and can start selling. Inventory.com also allows you to track orders and integrate point of sale software. The next time you do stocktaking you can see the reports and export them to accounting software. And, it is possible to switch to perpetual inventory system if you feel the need at one point.
ERPly inventory management plugin helps in taking care of end to end sales happening from both online and offline platforms. Everyday tasks can be automated with integration of ERPly and by synchronising all data related to products, customers, orders, sales, inventory, and other information related to products.
For businesses getting bigger in terms of the number of products, you need to have efficient Product Information Management (PIM). To avoid micromanagement and time, PIM can prove to be very important software in your business.
Stock following can assist you with trying not to sell items that have arrived behind the schedule of stock, or let you know when you need to request or make a greater amount of your item. You can set up stock following, see your stock, and change your stock includes in the Inventory space of Shopify.
What is it?
Perpetual inventory is part of effective inventory management. It is a system where all the necessary information on your goods (quantity and availability) is always up-to-date. Usually the perpetual inventory system is connected with accounting software where orders are made and with point of sale system (in retail). This connection to other programs gives a guarantee that the data is constantly updated.
Benefits of Implementing Perpetual Inventory System
Perpetual inventory allows you to track changes in inventory and provides real-time reports on available goods. This way you have a detailed overview of your stock for better inventory control. Generally perpetual inventory does not need manual adjustment. It is only necessary when the physical inventory count shows different results due to breakage, loss or even theft and you have to make manual corrections in the system.
How Inventory.com Helps Setting Up Perpetual Warehouse?
Inventory.com makes perpetual inventory simpler than ever before. It does not matter where the orders are coming from – sales representatives, physical stores, phone sales, email, e-commerce sites, eBay or Amazon. All the orders will go straight to Inventory.com where the data on quantity and price is accurate.
After the order has arrived, the inventory is updated in all e-channels. Salesmen or cashiers can be sure that when they check the system the stock information is always correct.
What Is Procurement Management
Procurement management is a process where you have to procure something from an external source. This means working with suppliers or vendors in order to get the necessary goods, services or resources for your business. You have to get what you need in terms of quality and quantity, time and location and also with the best possible price. Purchase order software helps to organise this by creating, sending and managing purchase orders.
Procurement Management Involves:
Creating purchase orders from sales orders. This is the first step of the purchase management process and with a purchase order you indicate your buying intentions to a seller. It is a document where you inform the seller about the exact types and quantities of goods or services needed at what time.
E-mailing orders is the next step. Purchase orders are no longer issued on paper instead they are in most cases sent electronically.
Getting best pricing from you suppliers. You have to find a seller that guarantees you the best price for the goods or services offered in terms of quality and quantity, time and location. For this you should:
Make sure suppliers deliver on time. It is important to keep an eye on the estimated delivery dates set for your purchases. You have to find out as soon as possible when your suppliers are not delivering on time so you can make necessary changes and keep your clients happy.
Record full history of purchases. You have to know what has been purchased from who, when, and at what prices, so it is important to keep records of all your purchases.
What Is It?
Stock control software helps you to keep track of how much stock you have at any given time and where you have it. Efficient stock control ensures that you always have the sufficient amount of stock. It reduces the risk of capital being tied up unnecessarily and protects you from the errors of “walking stock”. It also helps to make future plans.
Signs of Good Stock Control
Have an overview of your stock. You have to know precisely what and how much you have in stock and what is on order. This can be achieved only if stock numbers are updated instantly after sales and purchases have been done.
Prevent your stock from running out. Good stock management software offers you a reorder report that shows the items that you have to order – from all suppliers or just one. It also takes into account orders that are in process and haven’t reached to your stock.
Prevent over ordering. Software should indicate how many products you have to order. This makes it easier for you to prevent from ordering excessively large amount of goods.
Keep record of all your stock movements. History of stock movement is a good way to keep a track on all the changes made in your warehouse (who, what, when, why). Program should be able to generate an adequate movement log for you.
Don’t sell twice. Stock control software should prevent from selling one item twice by allocating products to new orders the moment they are entered.
Easy stock takes. Efficient software offers custom spreadsheets to update stock levels and then allows you to update the data with just one click.