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4 Ways to Manage on-Demand Inventory in the Digital Age

With fewer bricks-and-mortar stores and the need to economize on inventory based heavily on demand, businesses are learning to work leaner. In today’s online marketplace, these companies have many solutions available to them: They can invest in technology and software, and they can learn from the best practices of others.

digital age1 4 Ways to Manage on Demand Inventory in the Digital Age

It’s imperative that online entrepreneurs buy the right amount of inventory at the right price, but it’s also a “balancing act” that online stores do not outspend the demand they’re receiving from their customers.

Now that customers are more accustomed to shopping online, it’s incumbent upon e-tailers to manage their online inventory and sales as effectively as possible. Here are four methods for managing your on-demand inventory.

1. Stay organized

One of the basic tenets of managing one’s inventory on demand is to be organized. Know what you currently have stocked and where to find it.

“Consider implementing a bar-code system to track your inventory,” says LaylaColegrove, CEO of Flowering Tree Botanicals, an online store that sells specialty bath products.

2. Never go out of stock

It sounds kind of counterintuitive, and a bit like which comes first: the chicken or the egg? But if your website says you sell it, you have to make sure it’s available. Never run out of products, particularly your most popular items.

If your business is just one person, set aside scheduled time to stay on top of this. It will seem tedious and sometimes burdensome, but it should always be considered an essential part of risk management for your company’s bottom line.

3. Select software that works for your business

When you can evolve past the one-man show type of organization, consider adopting a software program in the market that suits your business.

“When selecting a shopping cart for your online business, look for a system that integrates with industry standard software for inventory management, bookkeeping and other services,” says Colegrove. “As your business grows and your e-commerce needs change, this will allow you to move to a new shopping cart solution while minimizing impact to your business operations.”

4. Employ a warehouse management system

Employing a warehouse management system can streamline the operations of your company as you grow. It reduces errors in the selection process by providing workers with the right information as to when to pull from inventory, at what quantities, and from which locations. In doing so, it ensures accuracy of each order by establishing the right quantity to pack and ship.

QstockInventory.com is a great resource for learning more about this process and other turn-key supply chain solutions and best practices, including both software and hardware.

E-commerce business operations differ from those of bricks-and-mortar firms, but are not difficult to learn if business owners apply some of the methods outlined here. While “information” and “data” become part of the ordering process, it doesn’t take long to understand the status of orders and even the future handling of orders so your customers are consistently satisfied, on an ongoing basis.

7 comments

  1. Wavatar

    …still on offer with simply analog results? Can there be any HDTV’s available on the market that may not use digital USB Input/ 7.1 (or 5.1) funnel audio results/Inputs? Otherwise, what makes them still selling off these items with analog results?

    Everyone are missing it. You cannot make use of a Blu-Ray player on the regular Television set.

    rossi2010,

    I am not to imply that Blu-Ray gamers don’t include High-definition multimedia interface connections. I am speaking about if this involves multichannel audio connections on Blu-Ray.

  2. Wavatar

    Bq rate digital bullet

    I love bobby digital a great deal I’ve found rza is a very good lyrical rapper

  3. Wavatar

    I’m wondering at GCSE level Photography is it necessary to make use of a Dslr? Or are you able to only use a Camera with many different optical zoom – like 18x optical zoom?

    And when you have to make use of an SLR is it necessary to possess a certain lens size?

  4. Wavatar

    Why is a TV digital and just what else is the apart from digital?

    Which should say “what’s THERE apart from digital”

  5. Wavatar
    Emerson Koeneman

    Optical zoom&Zoom -The best idea ?

  6. Wavatar

    Which input method provides the better video quality – digital or analog. I’ve got a Dell Inspiron 570 and there are just VGA analog out. I’m hoping to get a relevant video card with digital out. I’m running Win 7 for general stuff – no gaming but a little of audio and photo manipulation.

  7. Wavatar
    Emmanuel Quante

    I’m as being a businessman and i wish to attract my clients.i haired about digital signs so i wish to realize that what’s digital signs.

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