Four reasons whycloud-based inventory management is important for your ecommerce business

Published On : 09/17/2016

Running a business online, unfortunately isn’t all about selling. You can have the best product in the market place, selling thousands a week but keeping track of your stock and demand is just as important. That’s where cloud-based inventory management software comes in. Keep an eagle eye on stock, manage suppliers and track customer behaviours; all this using simple software that’s always up to date.

Let’s keep it simple. Cloud inventory management software allows you to keep track of what’s going out, what you have left and what you’ll need to order. There’s no more need to keep a constant eye on your stock levels and you can wave goodbye to overselling.

Mike Cockfield, Managing Director of Khaos Control Cloud, offers three key reasons to move your inventory to the cloud.

1. Retail…in real time
   Overselling or not selling enough; the two biggest challenges facing any retailer online. Selling is the main aim of your business but stock shortages, could mean lost customers. However, having too much stock of a product that’s no longer needed, costs money and space.
   Managing your inventory using the cloud give you instant access to the amount of stock you have, what products are already sold and waiting to go out, what’s happening with your suppliers and much more. Think how useful this is during busy sales times!
   With a bird’s eye view of your available product range, your business can now make a more educated decision on the next step for your stock.

2. Multiple access wherever you are
   If you’re running a successful e-commerce business that’s growing, the chances are you’ll have more than one supplier. Using inventory management on the cloud lets you add and keep track of as many suppliers and warehouses as you need using one simple interface.
   Away from the office? No problem, you’re on the cloud now! You can manage stock levels, contact suppliers and keep up to date with the latest sales on any device and wherever you have an internet connection.

3. Customer conduct on the cloud
   How your stock levels are looking, where your suppliers are and how many returns are coming in, all depends on the customer.
   Using the cloud to manage your inventory, gives you access to in-depth customer analytics and an overview of what your customers are doing or not doing. Track the value of your inventory, return rates, times and dates customers are making purchases and more. You can now make quick decisions on what to promote or remove from sale and ensure you cater to customer buying needs while reducing or increasing stock levels.

4. Security and peace of mind
   Inventory management on the cloud is the most simple and, importantly, secure way to manage your online business.  You can forget the days of managing your accounts on the hard drive of one system or storing data on flash drives that can easily be stolen. The cloud is online, so even if any of your devices are stolen, your business records are still protected by a password you set.

Efficient ecommerce using cloud software

Using cloud based software for your inventory isn’t as scary as it sounds. On the contrary, managing your inventory using the software ensures a streamlined process. All the constant data checking, keeping an eye on stock levels, liaising with suppliers and conducting customer trend analysis is now all taken care of. Don’t lose any more customers due to stock levels, stop overbuying or overselling, plan sales at the right time and manage multiple suppliers. Plus, because you’re on the cloud, you can access data on any device, wherever you have an internet connection and rely on the latest security software to keep your business safe.

Isn’t it time you moved your ecommerce business to the cloud? If you are interested in a free trial, check this page.

Wanda Rich

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.