In this article, we’ll share a general approach towards inventory management methods. This means we won’t be going over methods like ABC, FIFO, LIFO or such. Instead, we’ll take the discussion more towards having an understanding of the working parts and how they influence your business performance.
If you understand the problem, you can create inventory management methods yourself. So, let’s freshen up our knowledge on several points:
Even though solving small problems one by one will eventually lead to a fairly optimized business, it’s much more efficient to use technology. No amount of manual inventory management methods are going to outperform it. These days, you can adopt software at barely any cost.
Of course, there are providers that charge a lot, but that’s not indicative of the market as a whole. It’s just that the features are so good, they outweigh the costs even then. However, if you do your homework, you can get the same benefits at a fraction of the cost. We’re talking about Multiorders.
Essentially, it’s a single solution to the vast majority of inventory management issues. A simple, yet powerful tool to reach new heights in cost and time efficiency. As a matter of fact, all the aforementioned inventory management methods are in Multiorders.
It’s also much easier to keep stock at healthy levels. For example, you get notified whenever a product dips below par stock. A couple of clicks later, your supplier already has the purchase order. That’s not just convenient, but also efficient.
Reports are also easier with software, because you don’t have to make them yourself. Rather, they’re always there for you.
As for Amazon FBA / MCF, it obviously is optional. But it does integrate into Multiorders seamlessly. That means even less work for you and your team.
However, that’s not all what software does. The sum of all features makes running your business a breeze. We’d like to bring up the opportunity cost again. Imagine what you could do with all the newly-found free time.
You can expand your business into new markets. Maybe dedicate time to your advertisements to make them more creative and effective. You can also work on your product descriptions. The possibilities are endless.
You get the point – there are unlimited opportunities to improve your business that you’re not taking if you’re busy fulfilling orders or managing inventory in some other way.
That’s why we’re as excited about Multiorders as the day we took it off the ground – it unshackles merchants and provides freedom. If you’d like to give Multiorders a try, you can do so for free. We’re confident it’s worth your time to set it up. It only takes a few minutes anyway.