The world has certainly changed in the past year. Don’t worry though, this is not another blog post about how everything is more of a struggle now. The pandemic demanded a rethinking process on how we conduct daily business forcing the world to reassess and evolve. And one tool has proven itself to not only help you survive through this time but allow your business to thrive: Cloud-Based Inventory Management Software.
Of course, business strategy has a lot to do with vision, the right people, and a good product. Did you know though, that a huge percentage of startups fail because they neglect basic business structures and “boring” overhead?
That is why you might need to re-consider your inventory management. Read these 5 important benefits that a cloud-based inventory management software can provide for your e-Commerce business, especially after the global pandemic.
1. Minimize Inventory Costs
Did you know that investing in cloud-based inventory management software can help minimize your inventory costs significantly? When you always have the right amount of goods in your warehouse, you’re able to optimize your workflows and never need to pay for expedited shipping, costlier alternatives, or other costs because of delays.
A client recently told us that their inventory and fulfillment costs had gone down by 75 % after they connected their e-Commerce shop to Megaventory cloud inventory management! You need to stop doing your inventory manually and get started with cloud inventory management asap.
2. Work From Home? Not a Problem.
Having your inventory management in the cloud also enables you to access your inventory information and numbers wherever, whenever. With so many of us working from home for at least part of the week, it’s imperative that you can access this information anywhere. Think about it: literally anywhere.
As you try to minimize the number of social contacts at the office or warehouse, handling your inventory in the cloud is the natural step forward. Need to check something and don’t want to drive to the warehouse? No problem. Your information is easily accessible on any device that connects to the internet.
3. Share Only Accurate Information
E-commerce has increased with lockdowns and restrictions. It’s time for your business to be at the top of the list of places to shop in your industry!
Don’t you love it when you can see the stock numbers or an availability color code when browsing online stores? Especially when you’re looking for gifts or something for a certain event that’s coming up soon, this is super helpful.
This feature is made possible by the synchronization of inventory management and e-commerce platforms. When your sales and inventory are connected, you’ll be able to always display accurate information to your clients on the stock situation for their favorite products. This way, you are promising what you can actually deliver, which is a key of long-term success.
4. Don’t Join the Masses of “We Regret to Inform You..”
Do you know the feeling when you’ve ordered something online and receive an email with the words “we regret to inform you…”? Whether items have unexpectedly sold out, or a part of your order isn’t available due to confusion in inventory, this is the most disappointing email to receive as a customer.
Don’t join the businesses that have to send this sort of email out! Take care of your inventory in a way that you never sell items you won’t be able to deliver. The “just-in-time” approach of maintaining inventory levels just doesn’t work anymore nowadays because it’s too fragile. The answer to this? You guessed it: cloud-based inventory management.
When you track your inventory sufficiently, you won’t be in the situation where you need to go back on your promises to your customers. What we do to help you is make sure it all runs smoothly. When you connect your e-shop to Megaventory, your orders and inventory will automatically sync up.
5. Lower Your Risk Using a Cloud-based Inventory Management Software
A big reason why we love cloud inventory management as opposed to traditional ERP software is its low-risk level. You don’t need to invest a ton of resources into it upfront. Especially in these times, that is a really big plus. Less risk and more flexibility for you!
Wait.. Why Not?
The pandemic has made us all reconsider what’s important. Don’t wait for the next wave or pandemic to focus on implementing the structures that will help you in the long term. Getting your inventory into a cloud-based inventory management software application is step one in this process.
Want to try cloud inventory management?
Irene Dimakides does Digital Marketing and Content Creation for Megaventory. Her passion is to see people and businesses reach their full potential and move forward in that more freely. When she’s not writing the next piece of original content, you can find her at the beach with a book or getting food with friends.