I am sure you all are already aware of how important it is to manage business inventory properly. Failing at it can make you suffer from huge losses. For instance, in the 2000s Nike lost $100 million in sales due to poor tracking of goods. There are many examples of giant companies that lost millions due to poor inventory management. Problems like inaccurate data, limited visibility, inconsistent tracking, complex supply chain, etc., need your maximum attention to solve them. Because at the end if your inventory is messed up, then there is no way that your business will get sorted on any terms.

In fact, you can lose customers due to poor inventory management. If you own a Magento store, then this article can help you to be an inventory expert. To help you avoid the above mentioned problems, I have a solution - Magento Inventory Manager Software. It has ample benefits that we will watch out for in this article.

Allow for Automated and Easy Management

Ask anyone out there, and find me one person who finds inventory calculations and manual reports processing fun. You will not find anyone. Inventory management is a critical task, but that does not mean that you need to give half of your day to just preparing the reports. You can opt for a Magento 2 inventory management tool that can do it for you automatically. You can find reports of any previous or present day. The tool automatically prepares data at the set time and presents you with the latest reports. This automation will save your time and efforts.

Increase Inventory Accuracy

The software curates the inventory and gives you a list of only necessary inventory items. This way, you will need to keep less and only important inventory in your warehouse. It decides the inventory list on the basis of order accuracy. The software will also allow you to save time and effort in calculating the relevant items for inventory restocking. This also means that software tracks the items of inventory for you. 

This way, you can avoid loss. How? For instance, if a customer orders a product in huge quantities but you do not have it in your warehouse, and it is not possible to restock the order till the delivery date. Now, what will you do here? You will have to decline the order. This will result in loss of customers, sales, money, and reputation. To avoid all these, inventory management software can help you, as mentioned above.

Improve Customer Service

Any business’s prominent goal is to attract and engage more customers. A Magento inventory management tool can assist you in that. Since the tool takes good care of your inventory, you do not have to worry about whether orders will reach the customers on time or not. Because with the right stock, you can deliver the order on time thus, they will reach the promised delivery date to the customer. Additionally, with the features like real-time updates, customers can know about the delivery journey of their products.

Final Words

Disruption in inventory management can cause extreme damage to your company. And correcting the mistakes related to inventory can cost your business with significant loss. Here, the right solution would be to invest in the right tool. With the above-mentioned benefit, the software will help you to boost your customer trust, increase inventory efficiency, nullify the losses due to inventory, etc. 

Having the proper Magento 2 inventory management software, your business will be able to access more intelligence around purchasing behavior and achieve a relevant understanding of where your goods are. For that, you will need features like a barcode scanner, easy integrations, accurate analysis, on-point forecasts, and software that supports the Magento platform.

Author's Bio: 

Mr. Maulik Shah is the founder & CEO of AppJetty, a digital software products store specializing in extensions, plugins and apps for host of software platforms like Magento, WordPress, SugarCRM, SuiteCRM, Odoo, Dynamics CRM, etc.