Motivated by the soaring popularity of ecommerce and online shopping, small and medium sized businesses are increasingly turning to inventory management systems to help them maximize sales. At the front end of the queue is DataQlick, a sales and inventory software that’s rewriting the rules of ecommerce.
Ecommerce businesses have high chances of success, but the probability of failure is equally high. There’s a need to keep tabs on several factors simultaneously. These include a functional ecommerce platform, several sales channels, and round-the-clock monitoring of stock levels. With just a couple of products to offer, ecommerce management might appear easy. But as your brand and product range grows, you will find it a lot harder to keep pace.
If you are aiming to get the most out of ecommerce, we have developed DataQlick with you in mind. Hundreds of businesses are already using this software to reap big, and so can you!
In ecommerce, a bundle is a combination of goods or services sold together as one package, but at a reduced price. Bundling increases the perceived value of goods and encourages customers to make a purchase. Wouldn’t you be interested in a package whose value exceeds the price you have to pay?
While bundling brings about several benefits to your business, it may complicate the inventory management process. This is where inventory control software comes in handy. DataQlick picks individual pieces from your inventory to create a new product. As a result, your selling options increase. When a customer orders a bundle, the software automatically adjusts the inventory level of each product that makes up the bundle. This way, it’s very easy to keep track of product levels or individual components.
You can also create a bundle inside a bundle and manage work orders for value added services. You do not have to grapple with shortages that sometimes arise when bundles sold do not reflect in individual product kits. DataQlick is designed to adjust numbers in real time.
A matrix is a series of almost similar products. Let’s say you sell designer dresses. You will need to stock up different sizes – small, medium, large, and extra-large. Then, it’s very unlikely that all customers will want a red dress. So, you will have to stock up, say, 15 colors. Suddenly, a single dress, in four sizes, becomes 48 dresses!
It’s clear how a single product can be difficult to sell, especially when you’re marketing a product online. Ecommerce platforms are not designed to handle matrix items efficiently. This is why it’s essential to have inventory management software in place so as to maintain the inventory level of each product division.
DataQlick helps to manage several similar inventory items based on a single parent record. Again, the system automatically adjusts when specific items sell. You do not have to enter data manually or hire a high number of data clerks. This way, DataQlick works for you, and leaves you with plenty of time to work on other aspects of your business.
Just In Time (JIT) Inventory
When running an ecommerce store, one of the advantages is the ability to cut costs. The Just-In-time inventory strategy involves procurement of items only when they are required. Through this strategy, you can be able to reduce storage space and sidestep losses associated with perishable goods.
The downside is that JIT is very difficult to implement in the absence of a solid inventory management system. In fact, holding only a small amount of a good can be dangerous in that if the item sells faster than expected, you will not be able to meet new demand.
With DataQlick, you can use this strategy without fear of failure. One of the many strengths of this software is that it’s an accurate forecasting tool. You can come up with a realistic, reliable estimate of the expected demand over the next several hours, days, or weeks. Thus, instead of holding too much inventory “just in case”, you can order the optimum amount just in time.
When operating an ecommerce store, it’s important not to limit yourself to a single marketplace or sales channel. Doing so can give your competitors an edge. To increase sales, it is important to tap the likes of Amazon, eBay, Shopify, and Magento.
DataQlick seamlessly integrates with most modern sales platforms. It’s designed to notify you of all the transactions that occur across the board in real time. As a result, you always have up-to-date information about inventory levels and finances.
Ecommerce has the potential to transform your idea into reality. It has made it easier for small and medium sized businesses to grow by providing a level playing ground for all. Running your ecommerce store with the help of DataQlick can be a sure way to increase your chances of success.