Home 2017-09-10T15:32:42+00:00

Why do you need Inventory Management Software for your Wholesale Business?

There is no doubt that wholesaling is one of the most complex forms of business today. But, this is the main reason why there are so many successful wholesalers out there. Obviously, in order to achieve stellar results like them, you need to use every piece of equipment and tool that can optimize your work. One of these tools that are getting quite popular these days are inventory management software tools. Generally speaking, inventory management is all about making sure that you got the best products at the best price at the best time.
Good inventory management will help you prevent some common wholesaling problems like overstocking which is a term used to describe a situation where the wholesaler is buying you many products or buying them too early. Next, with a good inventory management method, you will be able to avoid understocking which means that you will stop buying insufficient items or witness fresh shipment get late. Finally, thanks to effective inventory management you will prevent overspending or buying more items that you can store and sell.

Today, the vast majority of wholesale business owners focused on physical products have a significant number of stock keeping units and inventory for one warehouse or even two warehouses. In case you are still using classic spreadsheets to monitor your inventory, it is very likely that you are spending countless hours on keeping track of the flow of items.
Thanks to wholesale inventory management software, you will be able to save some time and make sure that the numbers are accurate all the time. In this way, you will automate this process and avoid human errors. So, if you are interested in buying and using wholesale software in order to handle your order management and inventory, you should learn more about the features of this software.

  1. Inventory updates in real time

Thanks to inventory updates in real time you will avoid manual updates of all the sales you’ve made into a spreadsheet at the end of the day. This software will allow you to synchronize multiple sales channels like eCommerce platforms (Shopify for example) and B2B eCommerce platforms. The only thing that business owner have to do is to update the inventory levels whenever there is a new shipment. The software will automatically modify the stock levels after purchases.

By turning this process into an automatic process, you will prevent overselling because you will know how many items you have in stock at any time.

2.  BI

BI or business intelligence is another advantage of using inventory management software. How do you make a plan for your business activities in the next few months? For many business owners, this is a very difficult and unpredictable activity. However, if you have accurate inventory status and business data reporting, you will make better predictions. Use inventory management software that comes with business intelligence report feature.

3. Synchronization of all business elements

Finally, in addition to inventory management, every wholesale business must handle other elements of their business like eCommerce, CRM, accounting etc. The good news is that there are inventory management software solutions that can help you handle these things too. If you automate this business process, you’ll get a chance to record every aspect of your business without simple data entry. Without any doubt, your clients will appreciate this too.

Inventory management software is here to help wholesalers avoid some of the most common challenges associated with this type of business. Take some time and analyze the solutions you have before choosing software.

Here is one of the best POS systems in the market: www.shopify.ca/pos/