What to Look for in Magento Inventory Management Software?

Are you selling on multiple sales channels besides your own Magento store? If yes, then you definitely need Magento inventory management software which can manage your entire online selling process automatically. Here we will discuss about what to look for in a centralized inventory system from where you can manage all your online stores and the items displayed on those stores with ease.

Updating Inventory Accurately

While looking for an inventory management system, the basic requirement would be to have a clear picture about how much stock has been sold and how much is remaining in your warehouses. The Magento inventory management software you choose should be updating inventory levels on real-time basis across all your sales channels. Many times, online retailers work with excel sheets, and are unable to update inventory on all the sales channels which can cause low stock or overselling issues and create dissatisfaction amongst the customers. To remain competitive and profitable in online business, updating inventory across all sales channels becomes very important.

Order Fulfillment

When your number of orders increases, it might be quite exciting for you but to fulfill several orders in a single day can be quite tedious if the process is done manually. Also, doing everything manually can cause delay in delivery and annoy your customers. If the entire process of picking, packing and shipping is done automatically, order delivery can be done quickly. Look for inventory management software which can help you in tracking which item has been stored in which warehouse with proper barcoding system and can print shipping labels in bulk quantity. This will make your process quick and help you in delivering your orders with speed and accuracy.

Supports Kitting and Bundling

If you are selling your products in kits and bundles, it definitely increases your requirement of inventory management software as to manage such kind of products is quite difficult manually. A Magento inventory management solution which supports kitting and bundling would be updating the inventory on all the sales channels accurately and will help you in taking decisions like which items to be bundled together and which items need to be re-ordered etc.

Suppliers Management

In an online retail business, not only managing customers but also managing suppliers is required. With the help of a good Magento supplier chain management system, you can manage all your suppliers efficiently. The purchase orders can be sent automatically as soon as any product threshold goes below a particular level. It will help you in preventing low stock situations and keep your sales running smoothly.

Last but not the least, the magento inventory management software you choose should be as per your business logic and inventory challenges. Also, ensure that that the inventory management system you choose should be within your budget so that your business earns maximum profit and best suits your company.