The surge in popularity of e-commerce has caused many small business owners to neglect adapting their inventory management processes, and as a result, they are missing out on sales.
Tracking inventory in a physical store and online can be a daunting task, especially when the stock is constantly changing. It’s critical for businesses to manage their inventory accurately so they know what products are available for sale at any given time. However, live inventory tracking presents many challenges due to its ever-changing nature and the need for real-time monitoring.
This can be especially difficult to navigate as inventories shift from one platform to another such as from a website or mobile app to a physical store. Despite the difficulty, proper tracking of live inventory is essential in order for businesses to maintain accurate records and ensure they always have enough stock on hand.
Adding products and their respective inventory online is the best way to track inventory in store, as it provides an efficient and accurate way of tracking stock levels. With proper management, businesses can ensure that their physical stores have enough product on hand without overstocking or running out of items.
This can be achieved through real-time updates to the inventory system and a comprehensive view of both in-store and online stocks. Furthermore, having an up-to-date inventory can help businesses stay competitive by offering customers accurate information about what they have on offer.
The growing number of stores that offer their products online has revealed a disconnect between their inventory management systems, leading to much frustration for small business owners. Additionally, customers are often left dissatisfied when the item they ordered is not actually in stock due to the lack of proper monitoring.
Customers often feel let down or inconvenienced when they come across an item that is shown as out of stock. Failure to make sure inventory is correctly managed can leave customers feeling frustrated and discouraged from returning to the site or store in future. Not to mention, they probably will order online from one of your competitors.
In order to remain competitive, small businesses must modify their in-store product receiving process in order to meet the needs of both online and in-store shoppers. This includes writing accurate product descriptions, obtaining photos and other necessary information, and adding new products to the company’s website before they are made available in store. Doing so allows for an updated inventory on the website and an efficient POS system that can be used both online and in person – making sure that stock levels stay synced across both platforms.
We can help you get organized! Working with WordPress, Shopify or Woo Commerce, we can help you. Improving your inventory management is an important step to growing your small equestrian business. With the right strategies, you can get the hard part done quickly and reap the rewards.