Managing merchandise inventory is the backbone of any e-commerce business. Really, who wants to rummage through stacks of boxes or sift through pages of unorganized data in order to gauge the status of your inventory? Your inventory is one of your company’s most valuable assets, so how you choose (or neglect) to manage it can make or break your success. We help companies efficiently mananage inventory from anywhere in the world with our comprehensive IEX platform. Let’s get into why you should optimize your merch inventory management process (and how we can help you do it).
Need to Skim? Key Takeaways:
- When merchandise inventory is properly managed, you’re less likely to run into stockouts, inventory shrinkage, or excess inventory.
- Manual inventory management can easily lead to ordering errors and miscounts, which in the end costs needless time and money.
- Inventory management can quickly bog you down physically, mentally, and emotionally. Whether you’re sifting through boxes in your spare closet or trying to locate data in an unsophisticated spreadsheet, a well-integrated platform can take all of it off your plate.
Table of Contents
Why is Merchandise Inventory Important?
Merchandise inventory entails every product meant for resale, whether it’s in transit, in-hand, or stowed away in the warehouse. The state of your merchandise inventory directly impacts the financial health of your business. Plus, when merchandise inventory is properly managed, you’re less likely to run into stockouts, inventory shrinkage, or excess inventory. That’s one of the best parts about our IEX platform; it allows you to ditch your extra inventory and track real-time reports from our warehouses around the world.
[Related read: Your Current Supplier May Be Screwing You and Your Inventory]
Signs of Bad Inventory Management
With warehouses around the globe churning inventory for some of the world’s largest companies, we have a firm grasp on the best practices for inventory management (and what NOT to do). If one or more of these signs apply to you, it’s time to rethink the way you’re managing inventory.
You’re Doing it By Hand
Time is too valuable and technology is far too advanced for you to still be managing inventory by hand. Manual inventory management can easily lead to ordering errors and miscounts. Investing in software like IEX not only saves money in the long run, it saves the precious time you waste managing fulfillment and correcting inevitable mistakes.
You Have Excessive Warehousing Costs
Excessive warehousing costs come from excessive stock, which is a result of inaccurate forecasting and poor planning. Identifying the root of excess inventory is the first step in reducing warehousing costs.
You’re Missing Sales & Connections
Poor inventory management can also cause you to miss out on sales or potential connections. If you lack real-time inventory data, key insights to supply chain updates, or accurate demand forecasting, you will end up with insufficient inventory to meet customers’ needs. Understock not only leads to dissatisfied customers, it can potentially cost you their loyalty and significantly impact your revenue.
This You? Here’s How We Track Merchandise Inventory
You deserve an inventory management infrastructure that doesn’t hold you back, but scales with your business. We’ve teased our IEX platform a couple of times now, so let’s get into why it’s special.
Financial Transparency
Hidden fees simply aren’t our style. In fact, two plans in our tiered system include a rebate on product purchases, offering you even greater value as your business scales.
White-Glove Support With Aligned Incentives
Our greatest strength is our team of people who are on call to help you reach your goals. We only win when our clients win, so we act as an extension of your team to find the exact inventory solution you need.
Real-Time Tracking So You Don’t Have to Worry
We offer real-time inventory streaming directly from our warehouses around the world with detailed product reports to help you analyze trends and plan reorders. No need to worry about whether you’ve over- or under-ordered. You’ll have permission-based access to track the status of your inventory at any given point!
A Platform to Manage Inventory All in One Place
Did we mention all of this magic happens in one, easy-to-navigate place? Your personalized IEX portal enables you to share, select, ship, and track your products from anywhere, to anywhere, whether you’re sending to one person or one hundred thousand.
Avoid the Clutter & Confusion With Imprint Engine
Inventory management can quickly bog you down physically, mentally, and emotionally. Whether you’re sifting through boxes in your spare bedroom or trying to locate data in an unsophisticated spreadsheet, we’re happy to take all of it off your plate. It doesn’t matter the size of business or volume of inventory, a smoothly integrated management system benefits your bottom line.
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We can’t wait to connect with you.