3 tips for improving ecommerce inventory management

Retail moves fast today, and the pace of business is only accelerating. Consumers have increasingly high expectations for receiving orders as quickly as possible. To meet those demands, a growing ecommerce organization must have an efficient and reliable approach to managing inventory.

Powerful ecommerce inventory management tools and streamlined processes position a company to thrive in a complex marketplace. Organizations that are striving to stake their place in online retail should evaluate their current operations and find room for improvement. Keep the following tips in mind when reviewing your company's inventory management strategies:

1. Take advantage of warehousing and distribution services

Scaling up operations can become a serious challenge as an ecommerce company grows and expands into new markets. Businesses need access to infrastructure, software tools and personnel who are prepared to handle the complexities and speed of ecommerce operations. Working with a partner that already has extensive resources in place and draws on plentiful industry experience makes a big difference in keeping inventory under control.

Look for specialists who can benefit every aspect of company's inventory management and tracking. For instance, highly efficient processes for receiving items and checking shipments against records are important for keeping an ecommerce organization running smoothly, especially as it handles a larger inventory. Firmly established procedures for cycle counting ensure a company is fully up-to-date on what products are in stock and can take action to correct any errors. Leveraging existing relationships with shipping carriers leads to consistent order fulfillment and long-term savings.

2. Enhance visibility with an order management system

An ecommerce business and its customers both benefit from a clear sense of what products are currently available. Accurate information is key to building quality experiences and maintaining relationships with shoppers. That's why tying inventory management to an order management system is a vital step for an organization striving to make improvements.

Linking these aspects of online sales makes it easy to check the availability of products, identify items that are currently unavailable, allocate goods, place reorders and issue backorders as necessary. Real-time inventory tracking brings businesses a constant awareness of these requirements, allowing them to respond with agility. With a solution that manages inventory records, it's a seamless process to handle reduction as customers place orders and packages go out for delivery.

3. Simplify returns processing

One of the most complex aspects of managing inventory in ecommerce is handling returns. Making reverse logistics a painless endeavor is good for customer satisfaction and an organization's well-being. It's important to take into account for shipping, repacking items and adjusting inventory counts. An OMS can go further by gathering useful information from consumers, helping decision-makers to understand why products are coming back and prevent issues down the line.

SFG partners with ecommerce businesses, offering a range of solutions to achieve faster, more effective operations. With robust tools for managing inventory and orders, organizations gain a deep view into the products they have on hand and every step of fulfillment. That visibility brings opportunities to improve performance and develop stronger connections with shoppers.