Have you thought about implementing a tracking and monitoring inventory system within your e-commerce business?

Apr 2024

Here are a couple of reasons why this will help your business grow and become more streamlined.

With an inventory tracking system in place, you can accurately monitor stock levels in real-time. This helps in avoiding items being out of stock or overstocking items. By knowing exactly what items are in stock and what needs to be reordered, you can optimize your inventory levels, reduce carrying costs and ensure you have the right products available to fulfil customer orders promptly.

Timely and accurate order fulfilment is key to keeping customers satisfied. By having a robust inventory tracking system, you can ensure that you always have the products available to fulfil customer orders promptly. This reduces the chances of backorders or delays in shipping, leading to improved customer satisfaction and retention.

A bespoke inventory tracking system can provide you with valuable insights into your inventory trends, such as which products are selling well, which ones are slow-moving, and when to reorder. By analyzing this data, you can make informed decisions about inventory management, pricing strategies, and product selection, ultimately improving the profitability of your e-commerce business.

By implementing a bespoke inventory tracking system this can offer several benefits:

A bespoke system can be tailored and customised to fit the specific needs and requirements of your e-commerce business. You can design it to accommodate your unique product categories, inventory management processes and reporting preferences, ensuring that it aligns perfectly with your business operations.

As your e-commerce business grows, so does your inventory management needs. A bespoke system can be designed to scale with your business, accommodating an increasing number of products, sales channels, and warehouses without sacrificing performance or efficiency.

A bespoke inventory tracking system can be seamlessly integrated with other essential systems and tools used in your e-commerce business, such as your e-commerce platform, accounting software, and order management system. This integration streamlines data flow and ensures consistency across all aspects of your business operations.

We can help!

The Rare Earth team have many years of experience creating bespoke inventory management systems but before you embark on this journey consider the following three factors.

Needs Analysis – evaluate – identify – determine – growth projections – key stakeholders

Resources – budget – time -project management – software development companies (hint hint!)  – maintenance and support

Technology and Integration – what platform is right for your business – compatibility – integration with software – accountancy systems -order management systems – API integrations.

By carefully considering these factors before creating a bespoke inventory tracking system, you can ensure that the system effectively meets your business needs, aligns with your resource capabilities, and integrates seamlessly with your existing technology infrastructure.

Get in touch with the Rare Earth Digital team who CAN HELP you!