All you need to know about efficiently managing your inventory

by Arshiya Dey on 18/01/2019
We are all accustomed to ordering products online, and all we do is browse, select and pay. The items get delivered at the desired location, and we do not bother ourselves with how the entire process functions. But if you are interested in starting your very own e-commerce platform, you need to take a closer look at how the process operates and how you can efficiently manage your inventory.

Operations and inventory management is almost entirely dependent on software, much like most technology-enabled processes today. E-commerce software is the engine which drives all processes of an online store—managing inventory, adding or removing items, processing payments, calculating taxes, completing orders and so much more. The software simplifies complex and intricate processes through a user-friendly interface, allowing even non-technical personnel to oversee operations of an entire ecommerce platform.

There are two basic types of ecommerce software, with multiple variations of each:
On-Premise software are installed and also managed on-site by developers who enable manual updates, conducts troubleshooting and fixes problems. Entrepreneurs would traditionally choose the on-premise software because hosted solutions offer greater flexibility.

Software-as-a-Service (SaaS) are also referred to as hosted solutions. These are way more independent solutions from a technical perspective. Development requirements are only needed for custom features and additional designs. Every patch, update, and new feature is automated or done with one-click integrations. These hosted software have evolved a great deal, with robust flexibility and customisation which previously featured exclusive to on-premise software. Moreover these software can be launched in less than half the time it takes to launch an on-premise software, and at a significantly lower cost. All these factors make the SaaS software preferable to online retailers.

The advantages of employing an ecommerce software are as follows:

Simplified marketing: Easy optimisation and in-built SEO enables e-commerce platforms to feature in the higher ranks in organic search engines such as Google, with enhanced discovery and lower customer acquisition costs.

Automated shipping and taxes: Calculating sales taxes depending on customer location, printing shipping labels and sending email notifications to customers are all automated. This also ensures accuracy and erases any chance of errors.

Product management: From names and images to SKUs and variations (size, quantity and colour), e-commerce software enables managers of the online platforms to view the specifics from a higher vantage point, to decide if stocks are running low and identify the products which are selling fast. And this doesn’t require the manager to have technical expertise.

Customer and order management: Efficiently managing an order from the placement of the order to the time of delivery, are keys to success in any business. Managers can filter by customer, review order status and make changes on the fly. Integration with email platforms offer yet another medium for customer communications management.

Enhance user experience: If customers are unable to locate what they are looking for, and if they can’t do it fast, the software is a failure. Service-level agreements to guarantee uptime are offered by hosted solutions, and simple website management coupled with analytic insights aid in finding optimisation opportunities.

So if you are going to kick-off your e-commerce platform, check out companies such as Capillary Technologies who offer e-commerce management software. Choose your software wisely, and manage your inventory efficiently. The software you select will define your success in today’s competitive market landscape.

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