Optimised Inventory Management is a necessity for healthy growth in Online Commerce
eCommerce is one of the largest and fastest growing areas in wholesale trade. More and more companies expand their activities to include eCommerce or enter this industry as a new player every day. On the one hand, this rapid rise offers enormous potential for additional revenues and profits, but on the other hand, certain key factors have to be considered and optimised – for instance inventory management – in order to remain competitive.
There are three main challenges to overcome for inventory management in eCommerce. The first is maintaining high product availability and high service levels. These are deciding factors for most customers – if a product is not be in stock or available at short notice or if it takes too long to fulfill the order, a potential customer will move on to a competitor.
The next consideration is internal and external reviews. Evaluating existing customer reviews is often the first step for a potential customer when deciding whether or not to purchase from a distributor. eCommerce businesses have to strive to keep the highest possible score, but they have to have the service levels to retain customer loyalty. Successful eCommerce distributors are able to deliver the right products at the right time – the result of effective inventory management.
Finally: excess inventory. For eCommerce companies, inventory often constitutes one of the largest expenses of total capital. Inventory mismanagement can result in excess or obsolete stock which will have significant negative impact on the business.
These eCommerce challenges won’t be a problem with proactive planning and sophisticated software! EazyStock enables you to exercise full control and transparency over your inventory. You can even increase the service level while simultaneously decreasing costs by avoiding excess stock. All of it easily implemented and intuitive to use.
In particular EazyStock can readily implement demand prognosis and simulations which are of such vital importance to eCommerce and make them available for your procurement. Seasonality and other demand influences are included as well.
EazyStock is fast to implement and immediately starts saving costs. Steel your business for the future deliver the best possible customer service with EazyStock! Book Your Inventory Analysis