Once you have reached the stage in your business where you’re fortunate enough to have a popular and well-functioning eCommerce company, it can be difficult to know what to focus on next, particularly if your business is growing at a fast rate. However, as we’re sure you’re aware, a crucial aspect of running a successful online retail business is using a reliable stock management system. Good inventory management software should not only be affordable, but will also allow you to gain a more accurate understanding of your stock by enabling you to monitor each and every item, including every sale, return, stock transfer between locations if you own multiple warehouses, and more.
Whether you don’t already have an inventory management system in place but are keen to invest in one, or you’re looking to replace your existing method with a more efficient or affordable option, we strongly recommend that you consider investing in inexpensive and reliable stock management software. Providing a simple and cost-effective solution that allows you to keep a close eye on stock levels across one or multiple warehouses, StoreFeeder provides a real-time insight of inventory activities in a hassle-free way – much easier than attempting to manage your business manually on spreadsheets.
A convenient and inexpensive option, StoreFeeder’s leading software is suitable for small, medium and large businesses. From in-built multi-level reporting features, to assisted stock replenishment and more, read more about this game-changing technology below and find out how it can help boost sales and take your eCommerce business to the next level.
Why use an inventory management software for your eCommerce business?
Despite the fact that you might already be seeing a high amount of success in your online store, and you may even have other effective methods implemented, such as warehouse management, you may be searching for a more well-structured and coherent approach to managing your inventory.
In theory, inventory management might seem like a straightforward concept to grasp. However, when you’re struggling to keep track of sales alongside the growth of your business, or are looking to increase your sales strategy across multiple platforms such as eBay and Amazon,- managing stock in an organised and systematic way can be a challenging task. In fact, there can be many issues that may potentially arise from using an ineffective approach to inventory management. Common problems that can occur as a result of this include overstocking, missed sales opportunities through understocking, order mix ups, and even losing or misplacing orders – all of which can all put your business at a high risk of losing a large proportion of its customer base.
Perfect for businesses searching for a cost-effective method to manage inventory, StoreFeeder provides a viable solution for companies of all sizes – allowing you to monitor all your stock activities from one place. To help you decide whether our affordable inventory management software is right for you – we’ve gathered some important facts and figures below.
- With consumers looking to save money due to the cost of living crisis, many businesses continue to face overstocking issues as of 2022* – Due to stores closing and the high demand online during the pandemic, retailers were forced to ensure they had plenty of stock to cater to this – with 87% of UK customers shopping online in 2020. But with the current cost of living crisis, which has forced many consumers to cut back their spending, more people are now looking to save money and spend less on goods. As a result, many businesses are currently struggling to manage an overstock of warehouse inventory. If this applies to you – we have an easy solution to help you regain control of your stock. From monitoring sales to stock transfers – StoreFeeder allows you to keep track of each and every item in your inventory, while the multi-level reporting and assisted stock replenishment features provide instant visibility of your best-selling products. Therefore, a stock management software can help free up your time spent managing inventory and make more data-driven decisions that will enable you to focus on selling more in-demand products. This will ensure the stock you have will sell – and won’t end up lying around or go to waste.
- A trend which is expected to continue, there has been a notable increase in returns, which were up 16.6% in 2021 compared to 10.6% in 2020* – Another issue that can be attributed to the cost of living crisis, inflation, and a potential decrease in customer satisfaction, there has been a significant increase in customers making online returns. Whether your eCommerce business has witnessed a rise in returns or not, it’s always best to be prepared. With StoreFeeder, you can easily manage returns and closely monitor the effect they have on stock levels.
- 76% of businesses have recently experienced downtime because of data losses** – Breaking it down further, the main reason for this added downtime was due to system outages. Ultimately, this is more often than not down to businesses using outdated systems or technologies. If you can relate to this and have recently discovered that it might be time to update your existing stock management system – don’t panic. StoreFeeder offers a fast and cost-effective solution to this, providing real-time stock information and helping you complete all required inventory tasks in a timely way. The technology our software uses to scan barcodes is also simple to use and supports multiple barcode types. And, since the second most common reason that was cited for data losses is human error – you can also prevent this from happening with StoreFeeder – which can automate most routine tasks.
Sources: Business Leader (Retail Crisis)*, Business Leader (76% of Organisations Experienced Downtime)**
What are the benefits of using an affordable inventory management software?
Now you’re aware of how using StoreFeeder can help prevent common issues from disrupting your daily business activities and keep your customers happy, we’ve highlighted a number of benefits of using this reliable software below.
- There’s no huge sacrifice when it comes to cost – At StoreFeeder, we understand that times are tough when it comes to money, which you may want to save for other business resources. That’s why we’ve made our inventory management system as affordable as we can. Basing each plan on annual turnover, we’ve calculated our pricing in-line with the different amounts of money made by businesses, so you can find a price most suited to your eCommerce business. Not only this, but we’ve packed in as many features as possible, with the same amount included with each plan. This not only provides great value for money, but ensures small businesses have access to the same features as larger businesses. With StoreFeeder, you’ll never be tied to a restrictive contact and we’ll never charge commission on your sales. Seem too good to be true? Try it out before committing and sign up for a free trial or demo.
- Keep up-to-date with stock across all your warehouses – Whether you store and manage all your stock in one warehouse, or your business has expanded to multiple warehouses, keep track through even the busiest shopping periods with real-time stock data. Our affordable inventory management software provides a clear view of every sale and return, as well as transfers between warehouses and stock replenishments. With the ability to automate requisitions based on sales, you can also find out which products your customers are most interested in. This can help you better cater to demand by allowing you to make a more informed decision on which products to order more of.
- Quickly scale your business – Make reporting easier with StoreFeeder’s cost-effective stock management system. Pulling instant reports from across all products, channels and stores – the convenient reporting feature will give you a clear insight into the products that sell, and where they sell the most, as well as providing estimated product margins. Most importantly, this can allow you to save valuable time, spending less worrying about managing your stock and more on making crucial decisions based on the reported data, which can help you efficiently scale your business.
Free StoreFeeder Demo
Need to see it to believe it? Discover more about how using StoreFeeder’s great value inventory management software can benefit your business. Book a free demo or free trial and experience the benefits today.
Frequently Asked Questions
Which software is best for inventory?
With a number of impressive features designed to help you regain control of your business and provide you with full visibility of inventory levels, StoreFeeder has been purposefully made to benefit businesses of all types and sizes. With the ability to automate tasks that are usually time-consuming and mundane to complete manually, StoreFeeder offers multi-level reporting, the option to manage inventory across multiple locations, assisted stock replenishment, multiple barcode support, versatile product formats, as well as the ability to customise products and categories by adding custom attributes and managing list prices for your loyal customer base.
What else can StoreFeeder do for my business?
Not only does StoreFeeder provide an affordable solution to helping you manage your inventory, but our useful software can also help to implement a well-organised and structured approach to managing other aspects of your business. This includes order management, intelligent warehousing, and other useful features. StoreFeeder can also assist your online activities through integrations with leading marketplaces, eCommerce platforms, couriers and more.
