Inventory Management Systems: Avoiding Stock Outs!

We speak with retailers each day who tell North American country that their biggest challenges ar with inventory and ensuring they need enough product on-hand the least bit times. The secret's to own merely enough to avoid a stock out situation, however not carry an excessive amount of product and holdup funds that would be spent elsewhere.

A stock out, or out-of-stock situation is caused once inventory has been depleted. the foremost common varieties of retail stock outs occur within the business to commodity trade (e.g., natural philosophy, spoilables like cookies).
Stock outs are the alternative of overstocks, wherever an excessive amount of inventory is existing. during this era of multichannel retail, once orders are returning in to a merchant from multiple sales channels, stock outs are a lot of of a priority than ever before.

Research shows that around 70-90% of stock outs are caused by poor inventory management and replacement practices whereas 10-30% results from a shortage of stock from a provider. Keeping your back workplace order advancement method and inventory levels in synchronize is important to keeping eCommerce operations on the right track.
So however does one avoid Stock Outs? Here are some tips we’d prefer to share with you from our experience:

•    Centralize the Inventory management systems from all sales channels

•    Handling multiple warehouses from one system

•    Establish ‘low inventory’ alerts per stock item

•    Handling & issue Purchase Orders to Suppliers from one system

•    Gain insight on trends & peak merchandising seasons


At AdvancePro we tend to entirely twig as a result of we’ve been there too. We’re a package company started by retailers with solutions for retailers. We’ve been serving to retailers realize that delicate balance of simply enough inventory to avoid stock outs while not overstocking for years. And once they do, it makes all the distinction.

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