Traditional inventory management system is almost out of sight as digitizing management tasks has become mandatory for businesses to stay available for consumers across various touch points.
Conventional methods demanded separate inventory management for ecommerce store, retail store and all other sales channels. As a majority of businesses are focusing on more than one sales channel for improving their ROI, the need for multi-tasking through a single system has skyrocketed but there is nothing to worry about as cloud based inventory management systems are here for the rescue.
Retail bean, which is 100% cloud based solution in Omni channel retailing, an online inventory management system that helps in integrating multiple digital selling channels (ecommerce store, B2B store, brick and mortar showroom etc) and manage all inventory related tasks through its backend.
Here are reasons that justify why retail bean can be a game changer in your inventory operations
Every single change in your inventory will be updated as and when they happen. After orders get placed, a certain amount of products will be ready for shipment leaving a necessity to update your stocks. Retail bean inventory management system does real time inventory tracking by automating this process by turning ‘Stock Available’ into ‘Stock Committed’ status.
Synchronizing all your sales channels into Retail beans multi channel inventory management makes sure none of the inventory changes across all your sales channels go unnoticed.
Using Retail bean warehouse inventory management, you can allocate the number of stocks to be sold via your sales channel which means exclusively reserving a specific number of stocks for each sales channel based on demand.
Once your inventory is synchronized with retail bean , the product information, even those which are variant-specific will be recorded and there is no need to update it once again.
Using Retail bean, low stock notifications can be set for each sales channel. A minimum threshold limit can be set below which an alert should be triggered to replenish stocks.
Order notifications are instant. Orders which flow in via any of your sales channel can be monitored and processed via a single dashboard and maneuvering between orders from different sales channels is easy as Retail beans provides a straightforward interface to do it.
While managing inventory for ecommerce or multiple selling mediums on the whole it is important to avoid dead stock or stock out situations. By forecasting demands based on reports, you’ll be able to allocate stocks smartly for each sales channel. By doing so you obviously end up avoiding over stock and out of stock situations as you replenish only that’s needed.
Gone are the days where there was a need for separate inventory management for ecommerce store, physical store and other sales channels
Retail bean houses all your inventory management related tasks across several sales channel under its roof there is no necessity for using separate software, team and time for performing the tasks. Being a cloud based inventory management system; Retail bean can store inventory data of several sales channels easily.
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