To simplify Inventory shrinkage is any loss of inventory that isn't due to stock being sold. This has affected revenue in every business especially in retail. One of the reports by the National Retail Federation, U.S. retailers lose 1.33 percent of sales on average to inventory shrink, costing the U.S. retail economy a total of $46.8 billion in 2017. Some of the major factors of inventory shrinkage are shoplifting, damage to stock, fraud, error, and mismanagement of inventory. It's … [Read more...] about Tips to reduce inventory shrinkage for your multi-channel business
Inventory Management System
In this rapidly evolving world where the speed of customer service matters, having multiple warehouses is no less than a blessing. Receiving, shipping, packing, sending, and delivering, all these activities must be streamlined and in absolute synchronization to ensure your customers receive products on time. As simple as it may seem, managing and regulating constant stock levels is not an easy task, especially when your inventory is in more than one warehouse. The key to successfully operating … [Read more...] about 5 Tactics to Manage Your Inventory when You Have Multiple Warehouses
Inventory Management is the backbone of eCommerce success. You have to understand the importance of Inventory Management with it’s the ins and outs. Unorganized or poor inventory management can leads towards you out of business. As the year progresses, there are new techniques and inventory management concepts that guide you to optimize inventory for the streamlining business. Here, we are sharing with you a brief overview of Inventory Management and guide you for the challenges of the … [Read more...] about Inventory Management Guide for Ecommerce
The world has experienced immense growth in the eCommerce business, and buyers have been choosing online shopping over going to physical stores. However, businesses can achieve efficiency, cost-effectiveness, and productivity for them to remain competitive. The selection of the right inventory management system is one way to accomplish this. An inventory management system offers many benefits to eCommerce businesses. Here are the five key benefits we think of an inventory management system for … [Read more...] about 5 Key Benefits of Inventory Management System
Introduction By the end of this blog post, you will learn about a few effective inventory management techniques. These tactics will help you to save money and earn more through your online business. Track sales to forecast demand Benefits of forecasting demand Prevent Overstocking or Understocking Why you should avoid overstocking items? Why you should avoid overstocking items? Explore Dropshipping How do you save money with Dropshipping? Manage … [Read more...] about Have you been earning less money from your e-commerce store by not using these eye-opening e-commerce tactics?