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Ecommerce inventory manager7/24/2023 ![]() ![]() 3PL is an outsource of your operational logistics and allows you to pay more attention and invest time in your business. Third-party logistics is a strategy in which another business takes the responsibility of taking care of your e-commerce business logistics which consists of warehousing, distribution, and fulfillment of services by charging a fee. Even though this technique may take time, it is excellent for cutting down your storage cost and is considered an efficient method that does not require you to stock products. In short, you only buy the product when you require it. For instance, if a business receives an order for sunglasses, it will receive the product as the order is received rather than storing the product in its warehouse. Odoo Shopping Cart Just In Time Inventory (JIT)Īs the name indicates, JIT is a technique in which businesses get the products when they need them. One of the standout features is that businesses can send customized emails to customers through the app. Odoo’s Point of Sale is one of the best tools for inventory management. FIFO would not be an ideal strategy for those products whose prices are not stable and keep changing as it will lead to differences in the price of the products received and the cost of the products sold. Businesses that don’t want to store items in the inventory for a longer duration can use this method. But the FIFO method can be used by everyone and is not restricted to a particular sector. This inventory management method is used predominantly by those businesses that deal with limited timeline products, such as the food industry. As the name suggests, the products which are bought first or arrive first at the warehouse are the ones that are shipped out first from the warehouse and delivered to the customers. This article will talk about the ten inventory management strategies you can use in your e-commerce business.įIFO is an abbreviation of First in First out. ![]() So, it is very vital that you shift to an inventory management system as it will help the e-commerce business to grow faster. It only slows down the organization’s efficiency, which leads to lower sales. Many businesses still use the traditional spreadsheet method to track and record their inventory. As the business grows and eventually extends to an eCommerce Development, these questions become much more difficult to answer because you continuously need to update the details on various platforms. These are the most critical questions that need to be answered and accounted for. Moreover, how many products are currently sitting in the warehouse? Are there enough products in the inventory to meet the demand of the online orders? In simple words, the owner needs to know when new products arrive in the inventory and when or where the products leave the stock. One needs to be fully aware of the inflow and outflow of his products. A lot of us think that Inventory Management is just limited to maneuvering the merchandise, product prices, and the whereabouts of the company’s products. ![]()
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