How an inventory management system help in eliminating dead stock?

Inventory management is one of biggest challenges for online retailers, be it a single store or a chain of stores. Being able to successfully determine the correct inventory flow is a puzzle.

How an inventory management system help in eliminating dead stock?Too much of inventory leads to dead stock or damaged stock and these issues in inventory has always been a major cause of concern to online retailers. It results in unnecessary holding cost, which affects the opportunity cost of the capital that has been blocked with that product. Online retailers are always looking for a way out to get rid of the dead stocks at a reasonable price. Without a proper tracking or monitoring of stock locations, it is next to impossible to run a smooth business. To achieve an efficient inventory process, a culture of accountability and understanding cannot be escaped.

Orderhive inventory management system offers a complete solution of inventory control to online retailers that enable them to improve supply chain management and delivers an end-to-end business solution. With Orderhive, online retailers can now better manage inventory levels, costs, and better meet fulfillment expectations, improving customer service.

Efficient inventory management software is a bliss to online retailers that helps them to stock right inventory resulting in increase of profitability and happy customers. It ensures quick turnaround time, minimal costs, and maximum customer satisfaction. A correct inventory management system is determined based on smart operating practices, dispose of dead stocks, analyzes past performance and adapts current trends.

How Orderhive’s free inventory management software help in eliminating dead stock

  • Eliminates manual inventory management process and improves inventory control, indeed increases the efficiency of online retailers seamlessly.
  • Get complete real-time visibility of all inventory records.
  • Manage margins with a clear visibility into inventory costs, and inventory profitability.
  • Enhances inventory receiving and retrieving.
  • Updates available quantities automatically in both your store and channels.
  • Records all inventory data in order to help determine minimum levels and reorder quantities.
  • Real-time transaction histories on all your inventory movements.
  • Provides higher return on investments.

An inventory management system integrated with your store offers an eternal inventory control system for procurement, purchasing, stocking, issuing with physical stock verification. It offers a high contribution to the success and growth of online retailers, indeed generating high revenues.

Orderhive, India first order management system provider offers pay-as-you-go software solutions and makes it easy for establishing online owners to start using it without any heavy upfront cost. To grab a 15-day free trial with Orderhive please contact +91-999-822-2929 or visit www.orderhive.com.

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One thought on “How an inventory management system help in eliminating dead stock?

  1. Without an inventory management system a distributor is always going to have too much or not enough of the products they need. This means either the warehouse will be stocked with products and goods that aren’t moving (a lot of money out and no money in) or customers will be stuck waiting extra days, or even weeks, to receive their goods (which can ruin the customer experience and put a stop to repeat order). Neither is a good scenario because both cost the distributor in both the short and long-run.

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