Steal Back Time: How to Save Time on Inventory Management With Real Time Inventory Data Syncing
Business owners often wear many hats. One minute they are running the front end of the retail store, and the next they are taking product photos for their eCommerce site. So it’s no wonder they are looking for ways to save time on inventory management or to just how to save time running their store in general.
What if there was a way to manage both your online and offline inventories together, making your business more efficient in the process? Learn more how to save time by using SKU IQ to sync your store’s point-of-sales with your eCommerce site. See how you can take advantage of real-time inventory updates, stock alerts, combined sales data, and more to steal back time for…we’ll let you decide how to spend that time!
The Challenges of Managing Retail and eCommerce Inventory
Running an online store along with a brick and mortar POS can become challenging in several ways.
The time it takes to manually update both systems whenever a product is sold or restocked can be tedious, and often leads to human error. Without the proper equipment like inventory scanners stores will be vulnerable to miscounts and overselling products on different revenue channels.
Out-of-date inventory lists are one of the most common problems store owners face. If a customer comes into the store looking for an item that’s no longer in stock, they may become frustrated and take their business elsewhere. Without a synced retail and eCommerce inventory, you’ll have a more difficult time tracking down lost orders or returns. This can lead to a lot of wasted time and money for your business.
You don’t have to have a large team to properly manage both your retail and eCommerce stores and there are many advantages to doing so. We have solutions that can help you save time on inventory management by reducing redundant manual processes.
The Advantages of Syncing Omnichannel Inventory
Regardless of the types of products you sell, syncing your inventory channels will have a significant impact on the trajectory of your business. Here are the advantages of having your retail and eCommerce inventory in sync.
More Efficient Inventory Management
Without having one inventory management system that combines multiple sales channels, you’re likely managing two completely separate systems for your point-of-sales and eCommerce like many of the other merchants that turned to SKU IQ to solve that challenge.
Lucky for you, there are now technologies that give you the opportunity to connect your inventory systems, all your product information will be in one place. This means that when a product is updated or restocked in one system, it will be automatically updated on both your retail site and your eCommerce store.
Imagine the amount of time you’ll save from manually inputting data into spreadsheets, calls to warehouses or logistic chains, and dealing with customer service.
Optimal Inventory Levels
Better inventory management means you’ll have a better idea of what’s selling and when you need to restock. This is especially important for businesses that sell seasonal or perishable items.
With a multichannel inventory system, you can set up alerts that will notify you when an item is running low in stock. This way, you can restock before it’s too late and avoid any lapse in sales.
You can also use your inventory data to make better decisions about what products to keep in stock and which ones to discontinue. This will save you both time and money in the long run.
Real-Time Retail Inventory Reporting
For you to make the best decisions for your business, you’ll need the most up-to-date information. This can be difficult to obtain if you’re relying on manual inventory management methods.
When you have your inventory in sync, all your product information and stock counts will be updated in real-time. This gives you an accurate picture of what’s happening in your business at any given moment.
You’ll also be able to see all reporting in real-time allowing you to have full control of your inventory.
How to Sync and Manage POS and eCommerce Inventory
The best solution for syncing your retail and eCommerce channels is to use inventory management sync software. A service like SKU IQ will save you time and money by automating your inventory management process from the time an order is made to when it is delivered.
It’s important to choose software that integrates with the platforms you’re already using, such as Shopify or WooCommerce. You’ll also want to make sure the software has all the features you need to manage your inventory effectively. Syncing Inventory is important, but not all tech companies sync catalog details and orders.
Omnichannel marketing becomes easier because you can scale your efforts across several platforms without having to worry about over or under-stocking products.
Efficiently Manage Your Inventory
By syncing both revenue channels in your business, you can take back the time you’ve been wasting on manual inventory management. You’ll be able to make better decisions for your business and keep your customers happy by having the products they want, when they want them. Get started today with a free trial from SKU IQ to keep your inventory, catalog and orders in sync!
