Many rookie online merchants undervalue inventory management reports. They are an integral part of any business. Here we’ll go through the reasons why you should care about reports. Conveniently, we’ll also provide you with an easy solution.
Why are inventory management reports important?
Without performance reviews, you can’t know how your business is doing. Without reports, you’re unable to make informed business decisions. In reality, there’s no way your business is running optimally by chance. You need to tinker with it.
For example, reduce the reorder point for one product, increase for the other. Maybe get rid of an underperforming one. There has been cases where merchants sold goods at a loss without knowing. Of course, this is a little extreme. However, this illustrates just how far we can wander into the wrong.
Inventory management reports provide guidance. It’s essential for any successful business to track their performance. Also, to adjust according to the data. This may sound like it’s too complicated for a small online business, but it’s not.
Current technology and design provides merchants with clear and understandable data. A great example would be Multiorders reports, but we’ll get to those shortly. Also, the scale of your business is irrelevant. Every business can do better.
Use software to make reports for you
Just like a physical store needs cash registers, merchants need inventory management software. Certainly, you could substitute it with a couple of spreadsheets. The physical store could, in theory, make it without the cash register. However, could you imagine the lines that would form?
Now try keeping that store tidy all at the same time. The same rule applies to merchants and inventory management software like Multiorders. However, let’s focus on the reports. If you’re unfamiliar with the range of abilities of inventory management software, you’re welcome to skim through the full feature list.
With our software, you can bring up reports with a couple of clicks. At no point you’ll have to punch in numbers into a data sheet. However, mathematical literacy is useful when making informed business decisions.
Multiorders provides you with some general reports like the sales or shipment summaries. But if you’re in need of something more specific, you can click the Custom Report button, describe what you’re after and the support staff will quickly add an option for your custom report.
Finally something that is simple to use and works! – Sean Roberts, Multiorders user
If you’re at all interested in bringing your business to the next level, you’re more than welcome to join the free two-week trial. Start managing the entirety of your business from a single dashboard within the hour. You won’t even need a credit card. Meaning you won’t get sneakily charged at the end of the trial. We’re certain you’ll enjoy the sleek and minimal design, the powerful tools behind it and stay for a long time.