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E-Commerce > Inventory Management |
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To avert situations where a customer asks for a product that has already depleted from your stock, you need effective management system or inventory control. And if this happens after the final order placement of an item, then is it feasible for you to suffice the demand within the stipulated time frame? We know that customer orders drive a supply chain. It is indispensable to have an efficient inventory management system for any e-commerce business. So you can now forecast demand, replenish inventory and schedule production and transportation automatically and make these operations visible to every one in the organization.
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Why Inventory Management?
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Managing the inventory has been one of the largest outlays to any business. It has directed the fate of businesses in one way or the other. Balancing the loop of demand and supply has made it inevitable for every business to firmly toe the line of managing inventory. A product that is in excessive demand is usually difficult to manage. Supplying the right amount of products implies an accurate demand estimate. This impacts the entire supply chain. A similar situation exists at the warehouse level and even the manufacturer end.
Continuous replenishment of the products can become a colossal task if consumer response is not studied accurately. To facilitate efficient consumer response based on consumer demands, warehouse data, sales forecasts and inventory planning, becomes essential for such companies to consider inventory management seriously. Inventory management wipes off all the barriers by establishing transparency and visibility across the channel of business empowering the decision making process. If items wanted are not at hand or even if merchandize wanted is reordered often, sales will be lost to competitors. Precise control of inventory is hence an essential ingredient for a successful company.
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What do we offer in our Inventory Management?
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Our mantra for inventory management drives - "The right inventory, at right time and at right place." Intelebiz extends its services to synchronize inventory sales and availability across channels in real-time. It offers unlimited product categories, products, product variations and product attributes. It supports complex functionalities like serialization, product costing, drop-shipping, track and trace and an automated inventory commitment system. It provides complete Inventory catalogs, enable customers to view the selected products and buy them as per their selection.
Our objectives for inventory management are:
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Improved customer service |
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Reduced inventory investment |
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Increased productivity |
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Inventory Management Features
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Real-time Inventory Control across Sales Channels |
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Inventory management synchronizes inventories and availability across all sales channels in real-time. The system assures that items are serialized, unique or otherwise, are not oversold, and an on-order system enables you to keep stock levels in tight control.
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Manage your entire inventory through your online store. Any changes in product offering, inventory availability, product categories, and promotion features are reflected in real-time across all sales channels. |
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Online store software display the total quantity of each item in stock, decreasing inventory volumes in real-time. |
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Our solution is one of the few shopping carts on the web that offers real time inventory control on variants. |
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Unlimited Categories and Sub-Categories |
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Inventory management supports unlimited product categories with an unbound number of layers of sub-categories. Items can belong to several categories concurrently. The product categories and sub-categories can be created, organized, managed and controlled effectively to support drill down product searches.
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Catalogs |
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The system supports an unlimited number of products per page or per set of catalogs. It allows customers to browse specific group of products based on their profiles or preferences through search utility. Items may belong to several catalogs concurrently.
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Variations |
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Our inventory control manages any number of item variations such as pricing, descriptions (i.e. color and size), inventory status, shipping method and taxation. Each variation can have its own cost, selling price, size etc. Utilizing this feature allows you to showcase one product, such as a shirt, with multiple options such as color and size while tracking inventory for each variation.
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Item Types |
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The functionality support assemblies, services, master items, physical items, and website layout items. Virtual permutation or combination of these item types is supported enabling you to offer your customers what they want in the way they want it. The broad array of item types enables workflow such that inventory levels are adjusted properly for any type of transaction.
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Attributes |
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The attribution system enables to define and store any number of aspects of each item in inventory for merchandising, sales, querying inventory, reporting and exporting. Configuration of attributes is user-driven including the data type, display type, the acceptable values, and behaviors, including whether or not ranges of values are accepted and whether the attribute is visible to customers. Easily manage product and shipping costs for product attributes, such as size. For example, merchants can charge more for a large bag of dog food and have accurate shipping costs that take into account the increased weight.
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Track Batches and Lots |
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This functionality tracks batches and lots and enables the recording of events, processes, and documentation to be attached to an item or lot throughout its lifecycle.
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Pricing Tiers, Volume Pricing, and Customer Specific Pricing |
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The Pricing System enables any number of pricing tiers (for loyalty programs and wholesale/distributor/retail pricing) and enables volume pricing (discounts for bulk purchases) within each tier of purchase.
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Multi-location Inventory |
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Our Inventory management system supports any number of inventory locations including warehouses, third party logistics provider, and ports-of-entry for imported items. Fulfillment includes order sourcing and routing across multiple locations. Reporting, exporting, adjustments and transfers enable granular details as to inventory levels and statuses per locations.
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Multiple Units of Measure |
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Our system supports multiple units of measure for purchasing, storing, ordering, and shipping. The Web Services driving e-commerce allow the flexibility for you to determine the units by which customers may purchase items and the integrated purchasing system enables the conversion of units to facilitate purchasing from suppliers.
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Up-Sell and Cross-Sell Engine |
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This functionality supports multiple types and unlimited number of item relationships. Up-Sell and Cross-Sell engine is integrated with Intelebiz ecommerce engine and phone/mail/purchase order engine for taking orders such that every sales channel is powered by a central merchandising strategy.
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Benefits of inventory management
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Complete inventory control |
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Up-to-date information about the value of the inventory |
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Complete visibility and traceability on quantities in hand, quantities committed and quantities sold |
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Response time to demand changes is reduced significantly |
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Increased sales |
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Knowledge of the exact size of merchandizing inventory |
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Frequent analysis of purchases, sales and inventory records |
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Eliminating unnecessary usage of warehouse space for unneeded part of inventory |
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Reduction in excess merchandize stock |
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Taxes and insurance premiums paid on excess merchandize inventory are avoided |
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Providing timely accurate information pertaining to inventory location, movement and valuation, receipt of goods, sale and return of goods and profits you can make sure that your inventory is visible throughout a network. |
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With comprehensive inventory management you can set your product catalog to hide products that are not in stock, or change prices based on the amount of products available in the warehouse. The quantity of stock available can be displayed to the shopper and this can prevent unnecessary confusion when the shopper adds items not available to a shopping cart. The store buyer can be automatically notified about low inventory levels.
Information technology is a key player in the transformation of real time purchasing into a strategic business function. The challenge is to find a way to put these technologies to use and create values for competitive advantage of customers.
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