4 Benefits of a Centralized Inventory Management System in a Multichannel eCommerce Platform
In a world of constant technological advancement, retail stores are going online, thanks to the ample scope and opportunities being offered by the multi-channel eCommerce. It has allowed the store owners to make their products visible across different market places and social media channels and thus increase the possibility of sales. However, in order to ensure effective management of products, these multi-channel eCommerce platforms need to have an effective inventory management system.
These multi-channel eCommerce platforms have a centralized inventory management system. The novel features of such an inventory system allow a client to derive the following benefits.
1. The Client can sell across all online sale-channels and that too from one single inventory. This feature brings about simplicity and empowers client to have proper control of it at a glance as well.
2. One-time Listing of Products – This feature provides clients with the much needed advantage of saving time, energy, repetitive work and manpower. Suppose a client of a retail store were to list his products in various marketplaces like eBay, Amazon, Snapdeal etc. He would have to list his products individually for each of the multiple channel marketplaces. The unique feature of a centralized inventory management system is that it also allows the client to list his product only once with the multi-channel eCommerce platform and then from the very multi-channel eCommerce solution, the clients products get ‘pushed’ or listed onto the various other marketplaces.
3. The inventory updates itself according to the sales taking place across the various channels in real time. For instance, if the client has a total of a 100 products, then these 100 products are displayed across the various multichannel marketplaces like eBay, Amazon, Snapdeal etc., uniformly. Now suppose there is a sale of 10 products in eBay, then the remaining stock amount displayed in eBay is 90. As the inventory updates itself in real time, the stock levels simultaneously displayed in Amazon, Snap deal and the other channels is also 90. Thus, there is no need to individually check into each of the stock content when they are already getting updated automatically in real time.
4. The client can effortlessly track the stock in multiple warehouses in different regions. Having the consolidated real time information of all the stock across different warehouses is not simple. However, that is exactly what a proper warehouse management system is built for. It is robust enough to consolidate all the data and yet sophisticated enough to streamline itself with the latest updates in the eCommerce and multiple channel eCommerce solutions.
Thus, the centralized inventory management system goes a long way in contributing to the efficiency and success of a multichannel eCommerce platform.