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The Best Way To Control Stock In A Business

Published

February 19, 2019

Author

Goda Jurgaityte

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Every single business faces problems with stock management. In order to efficiently control stock in a business, you need to realise the most important aspects of the process. Even more, you should use an up-to-date stock management software like Multiorders.

In this article, we will look at the main problems that you can easily solve when you upgrade your stock control method. Also, we will include the benefits of using inventory management software together with some examples.

Automatic inventory updates

First of all, the one and most important feature to look for in software is automatic stock updates. In order to control stock in a business, you need to make sure that the stock is always up to date. This is very difficult to achieve if you need to constantly double check the available inventory.

Everything starts to get infinitely more complicated as your business grows and you add more and more e-commerce stores. It also adds to the complexity if you sell the same products to different markets in each of them.

It is impossible to manually check if they all have the same amount of items remaining. Especially if you have a few hundred different products. Therefore, you need to use Multiorders stock management software that can update each store after a sale.

Let’s have a look at an example. A customer buys headphones from one of your stores. Multiorders then automatically updates all the available stock in other stores accordingly. This all happens quickly and accurately. As a result, you save a lot of time and reduce the chance of overselling to the minimum.

You need to forget about the time-consuming tasks and focus on increasing profits.

Inventory ordering and reorder point

In addition, the best software that helps control stock in a business can generate purchase orders. It also includes a feature to set reorder points. By setting a reorder point, you will never need to worry about running out of stock and losing sales.

Only because the reorder point is developed to notify you whenever a stock drops to your chosen number of items. When you receive the notification, you can create a purchase order ASAP.

Moreover, with Multiorders you can advance your business so much in only a few clicks. All the purchase orders are stored on the software, so no more confusion of what, when and where was ordered. They are all easily accessed by any of your delegated staff members.

You will always know when your items are low on stock and can act accordingly

Stock analysis

Lastly, you need to remember about stock analysis. Being able to control stock in a business can seem like an easy task. However, you need your insights and proper research to become a pro at it. Multiorders offers that.

When you start selling through Multiorders software you get reports about your business. The reports are on different topics such as best selling stock, sales summary, top customers and many more.

Even more, you have an opportunity to request a personal report and get the specific insights you need. When you know your customers and the product life cycles you can easily adjust your sales strategy. For example, if you see that one type of headphones is becoming more popular you can order more and focus your marketing on it.

The same goes for slow-selling products. You can always create bundles with best sellers, to get those products moving.

In short, with Multiorders, it is a lot easier to control stock in a business than doing everything manually. It is also a lot cheaper compared to any other solution. You can forget about those time-consuming tasks and focus on increasing profits.

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