The main idea behind inventory management is simple: Have enough
inventory on hand to meet customer demand promptly, but not so much inventory
that all of your available capital is tied up in your warehouse and unavailable
to use elsewhere. Improving inventory management usually means improving your
ability to see the status of your current inventory and improve the time it
takes to reorder. Better forecasting, faster replenishment, and less
over-ordering means a better bottom line for your company.
Benefits of Real-Time Data
Real-time inventory data can help you improve your eCommerce
inventory management in many ways. First, real-time data accurately reflects
your current inventory status. You can see at a glance what you have on hand to
fill orders and what you may need. This improves your ability to reorder with
Another benefit is being able to see what’s selling briskly and what may be stagnant
in the warehouse. When you can see what’s currently selling, you can anticipate demand, and reorder
proactively rather than reactively. This ensures that there are few, if any,
“Out of Stock” messages on your website and more satisfied customers receiving
Better Data for Improved Demand Forecasts
The more accurate and timely your warehouse data, the better you
can forecast demand. Accurate demand forecasting is at the forefront of good
eCommerce inventory management. Accurate forecasts ensure that your capital isn’t tied up in your inventory but is
instead available to put towards other areas of your company such as sales,
marketing or operations.
topShelf Inventory Management Software
topShelf from Scout Software puts real-time eCommerce inventory
management at your fingertips – literally – through a smartphone application.
You can review data, make inventory adjustments, and ensure that your customers
will always get what they want, when they want it. It’s inventory management made simple and
To learn more about topShelf inventory management, visit Scout Software
or call us at 651-964-3259.