Say Goodbye to Inventory Management Troubles with B2B eCommerce Solution
Inventory management proves to be a tricky part of the business for many manufacturers and distributors to this day. Common challenges involving inventory tracking, stock availability, and mounting paperwork, maintain as major stumbling blocks.
Despite the numerous inventory management software available out there, many might not know that B2B eCommerce solution can also help to overcome inventory related issues other than serving as a platform of commerce.
Check out 7 ways of how B2B eCommerce solutions can help solve inventory management troubles.
1. Create An Accurate Forecast
Many companies face inventory management issues due to wrong predictions of product demand. What they forecast might not be accurate; either over-forecasting or under-forecasting demands as compared to the ideal values.
More demand can be adjusted but low demand might put your business at loss. With the help of Dropee Enterprise Solution, you can improve your forecast method by utilizing backend data analytics based on previous order volume and ordering pattern to come up with more accurate stats.
2. Know What’s in Your Warehouse
Another problem especially among conventional businesses, often times comprising of multi-generation family businesses, is that they do not have a systematic way to keep track of product quantity and stock level in their warehouses.
Pen and paper remain as the primary tool of tracking. In this case, human error is inevitable, making seamless order placement and fulfillment process, a dream for many.
Relieving this issue, B2B eCommerce such as Dropee Enterprise Solution offers features that allow you and your clients to have access to real-time stock level and restock information.
3. Identifying Which Products That Sell
The need to identify hot-selling products is inevitable if you want to improve your business services and get rid of redundant inventory issues.
Doing this will help you to be prepared for a sudden increase in demands for certain products and to be able to fulfill immediately without any out of stock issue.
If you decided on adopting Dropee Enterprise Solution, you will be introduced to features such as order history, favourite list, and one-click reorder. These features help you to identify best-selling products in a much more convenient and efficient way.
4. Prevent Overstocking, Out of Stock, and Dead Stock
Overstocking of low-selling products is a big no-no as they will only occupy space and shoot up your storage cost. The same goes for dead stock. Dead stocks refer to products that are no longer in demand and don’t sell anymore.
In order to optimize warehouse storage, manufacturers and suppliers would have to eliminate these stocks to make room for better selling products while at the same time removing out of stock issues due to limited storage space altogether.
Adopting a modern B2B eCommerce solution can solve these easily and allows you to focus on other areas of your business.
5. Train Your Staff
There is a constant need for B2B businesses to have hires that are well trained and are good at managing orders in large volumes but with keen eyes on details.
Finding competent and hardworking workers might not be an easy feat but business automation might reduce the gravity of this task.
Dropee Enterprise Solution, for instance, offers automation in business operation processes that will help you maintain efficiency and productivity but with lesser manpower. (Request for a demo to see how our solutions can fit your business needs)
6. Improve Service Level
Over time by automating and shifting to a digital-friendly business model, you will simultaneously improve your level of service for the customers as well. How so?
Now you have the opportunity to run business operation around the clock with B2B eCommerce solution while at the same time reducing human error down to the tee.
Another way that B2B eCommerce solution can help improve your level of service is by allowing you to have a 24/7 customer support via live chat feature that will continue to assist your customer anytime, anywhere.
7. Identify Demand Patterns
Lastly, there is a need to understand how the market works. Businesses should have skilled and competent managers who understand the market demands, changes or demand patterns. Such things help companies to prepare better in growing product orders for example.
Therefore, having a comprehensive and precise data analytics is of crucial importance. Dropee Enterprise Solution can help in this sense with our cutting edge data management software and storage to achieve the mentioned goal.
Say Hello to Dropee Enterprise Solution
The time is here for you to no longer waste your valuable resources in figuring out and solving inventory related issues and challenges. Let us solve these for you with Dropee Enterprise Solution. Now is the time for you to focus on your business growth and scalability instead.
Request for a demo now. Alternatively, you can always contact us at 03 5650 5184 or visit our website to learn more about our services!