Inventory tracking has evolved significantly over the last years, so much so that older small business inventory management solutions can’t keep up with it. If your inventory control app is sabotaging your inventory tracking, the time has come to change it.
While it’s not the most exciting subject in the world, inventory tracking remains a key process for any retailer or manufacturer that manages an inventory. The bigger and the more varied your inventory is, the more important accurate and effective tracking becomes.
If your inventory tracking still relies on manual counting, which is not only time-consuming, but also prone to errors, you may be losing both time and money. This is true whether you run a small business, an eCommerce store, or a chain of stores.
Here are some of the benefits of modern inventory tracking systems:
Makes possible real-time tracking
The implementation of scanning technology at every step on the product journey enables you to track every move your product is making from the moment it’s shipped from your supplier to the day it leaves your shelf or is sent to your online customer. Your inventory control app should be able to integrate with your accounting app so you can manage your inventory based on the real-time status of the item.
Enables seamless hybrid selling
Many brick-and-mortar stores today sell products on the Internet as well. To facilitate sales and reduce shipping time and costs, they enable products ordered online to be shipped straight from stores instead of warehouses. This model also makes possible in-store pickups.
The small business inventory management solution you use shouldn’t create any limitations in this regard. You should be able to manage and monitor all your stock effectively, regardless of the channel through which it is sold.
Facilitates big data analysis
To be effective, an inventory forecasting solution has to work with accurate data from an inventory tracking app. Otherwise predictions will be off the mark and you won’t be able to automate reorders. Automating inventory control becomes easier when you can understand stock patterns for individual items and item categories. The right tracking system makes big data analysis so much easier.
In a world where inventory tracking technologies are constantly advancing, it’s important to make sure that your inventory control app is flexible enough to handle them. When it’s not paired with an equally effective small business inventory management solution, an inventory tracking system loses its efficiency. Learn more about DataQlick to find why it’s such an inspired choice for eCommerce inventory management.
