As an increasing number of retailers move towards a multi-channel business model, the digital and physical aspects of commerce are becoming increasingly interwoven.
Ecommerce and social media channels are influencing offline sales like never before, and as the lines blur, inventory management for multi-channel businesses is becoming more and more difficult.
In this post, we outline the benefits of switching to a single, automated, cloud based retail management platform, and how this can save you time, money and administrative effort.
Modernising inventory management
Traditional, manual inventory management is complex, time consuming and unreliable, and requires significant administrative effort. Trying to manage stock levels, reorder limits, pending sales orders and multiple suppliers manually is completely unsuitable for multi-channel businesses, and inevitably leads to errors, stocking issues and missed sales.
Similarly, it’s a huge waste of resources to try and manage each channel individually – a problem that only gets worse as a business expands and opens up new retail spaces and digital channels.
In the modern world of multi-channel retail, a successful inventory management programme needs to be every bit as connected as shoppers buying habits.
Automate and centralise
The solution is to go for a cloud-based retail platform that connects every aspect of the inventory management process, fully connecting the digital and physical sales channels of the business together.
Connectivity and automation are invaluable. By tying together your on-hand inventory with your ecommerce site, Amazon and eBay stores, customers will always be able to see stock levels on those platforms.
Being able to have access to accurate, real time data on stock levels, pending orders and supplier turnaround time will also enable you to streamline your reordering and stock, whilst providing valuable data on customer buying trends.
In addition to saving huge amounts of time and money managing the process, this will also enhance the customer buying experience, improving accuracy, eliminating lost sales and improving cash flow through a more streamlined supply chain.
At Patchworks, we’re here to help ecommerce businesses to unify retail channels and accelerate growth – find out more about how we can improve your systems integration and business performance today.