5 keys to good inventory management in e-commerce
Good e-commerce inventory management is fundamental for businesses that want to stand out from the competition and maximize their profitability.
Businesses can ensure the availability of goods and the timely shipment of orders to customers through accurate inventory control. Inventory management involves defining the quantity of items required to meet demand and determining the right time to replenish goods.
For e-commerce, effective inventory management is essential to avoid stock-outs and ensure timely deliveries to customers.
The success of an e-commerce lies in the good organization of the stock.
Arranging the products in the warehouse in a consistent way facilitates the preparation and shipping of orders. This operation, also called slotting, determines the optimal location of a product in the warehouse.
In an e-commerce warehouse, items can be organized according to different criteria such as:
The good organization of the stock allows to dispatch the orders more quickly and to answer peaks of demand.
A warehouse management software is an essential tool in an e-commerce warehouse. Indeed, it allows:
Thanks to advanced algorithms, the system identifies incoming items, assigns them a location and registers the products shipped to customers. In addition, it organizes the entire order preparation process, indicating to the operators where to go or supplying the picking stations with the goods required for the preparation of the orders.
Mobile radio frequency terminals are devices that assist operators in their tasks. They help ensure proper inventory management, fast order picking and facilitate data entry into warehouse management software as well as the receipt of instructions.
One of the most important benefits of the communication between the radio terminals and the warehouse management software is the reduction of errors.
To simplify the work of operators, employees can use wearable devices. These are electronic devices worn on a finger or arm that completely free up the hands and make retrieving products easier.
The warehouse must be integrated with the online sales platforms where the products are sold. Thus, when a customer buys a product, the operators can prepare the order immediately and ship it as soon as possible. This connection between the warehouse and the online stores can be done automatically using management software.
E-commerce companies with a multi-channel presence are adopting omnichannel logistics. They offer consumers the opportunity to combine multiple channels of communication with the company, such as the store, the cell phone or the website.
Good inventory management using technology helps avoid delays and errors related to omnichannel. Omnichannelity affects all warehouse operations, as it requires a large number of references and a high volume of orders to be processed.
Monstock is the inventory and flow management solution that accompanies you in the digitalization and transformation of your warehouses. Simple and intuitive to use, Monstock allows you to analyze your customer and purchase order history to propose orders accordingly.
For more information, contact the Monstock team.