The Importance of Omnichannel Inventory Management

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It has never been easier for customers to buy from you. In addition to the traditional channels such as your brick-and-mortar locations and order-by-phone, they have the option to purchase through your e-commerce portal from their computers, tablets, or smartphones. Even links through social media posts are becoming an important platform for driving sales. However, all of that accessibility comes with a price. It means you must be diligent in helping ensure shoppers have a satisfying experience — no matter which channel they choose.

Achieving customer satisfaction requires the use of a true omnichannel approach. This means a seamless integration across all channels. Whether orders come in through the Internet, over the phone, or in person, your supply chain should always be accurate, efficient and provide shoppers with the best service.

Unfortunately, many businesses don’t have their channels integrated as well as they think. This leads to inaccurate inventory tracking, delayed deliveries, and confusing returns. That said, improving inventory management should be a high priority when developing strategies.

What Might Be Standing in Your Way

Successfully implementing an omnichannel supply chain is easier said than done. With so many moving parts to track, businesses may be experiencing the ill effects of poor management without even knowing. For example, they may be relying on manual spreadsheets or pen-and-paper records to track their stock.

This puts companies at risk of mistakes and frustrated shoppers finding that the item they want is not available too late. Wasted inventory — as the result of improper planning — is another obstacle. Having accurate data provided by an integrated software platform makes it much easier to plan for spikes in demand and avoid a surplus of SKUs just taking space.

Building a Better Omnichannel

Although these stumbling blocks can make developing a functional omnichannel challenging, there are numerous steps you might take to avoid them. For example, working with an experienced e-commerce fulfillment company can take many of the most tedious aspects off your shoulders.

For more ideas to develop into a stronger, more cohesive business, be sure to see the accompanying resource.


The Importance Of Omnichannel Inventory Management

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