Best Inventory Management Software of 2021
Start your search here for website builder software with the best inventory management tools. Our software reviews are written by experts who have spent 357 hours researching and analyzing every little detail about the top inventory management tools on the market. Compare inventory management tools, facts and figures to find the right fit for your business.
What is Inventory Management?
Managing and selling products is the bread and butter of every eCommerce business. While it is easy to keep track of a small number of products, large inventories get messy quickly without proper organization. An inventory management system keeps track of product quantities and their locations, ensuring that there is enough supply to meet customer demands and the inventory is balanced at all times. Effective inventory management therefore acts a predictive control for which products are popular and should be restocked regularly, while preventing the sale of out of stock items.
Store owners can practice good inventory management techniques by conducting frequent stock counts and making sure that all numbers are tallied. Once a product is sold, the inventory system should also automatically update and reflect the new stock quantity. By extension, if stocks are running low, store owners should be alerted with low stock notifications. Customers should also have the opportunity to sign up for back in stock alerts.
What are the Benefits of Inventory Management?
Saves time while increasing efficiency
Prevents over or underselling of products
Keeps stock quantities current and up to date
Predicts popular and underperforming products
Alerts both store owners and customers to product changes