Improve Your Inventory Management To Improve Your Business [Infographic]

January 11, 2016

Did you know Americans spend nearly $ 200k online every 20 seconds? Online sales are growing more and more every year, and chances are if you have an online retail business you could be doing things better. Customers often complain they aren’t getting what they want when they want it. Most of the problems that lead to this complaint can be solved by using a cloud-based inventory management system.

The right inventory management system can help you reduce order fill times by 87%, reduce by 10 times the likelihood an item will be out of stock when a customer orders it, and can reduce labor costs by 30%. It’s not magic- information is updated in real time through cloud-based software to help you determine on-hand quantity, prevent picking errors, and track which are your best employees. It can tell you when to reorder stock when it gets low, map out picking routes for maximum efficiency, and track where every piece of merchandise is at all times.

When you have all of this information, you can make sure your customer gets what they want when they want it. When you eliminate wrong orders, wait lists, and shipping delays customers are more likely to do business with you in the future. After all, who doesn’t want to do business with a top-notch company?

People order all kinds of things online- 69% of consumers purchase clothing online despite the fact they can’t touch it or try it on. The statistics are similar for accessories- 54% of people buy accessories such as shoes online, again in spite of the fact they can’t try them on. There’s often a greater selection online, and the convenience of getting it shipped right to your door makes it irresistible. Learn more about how the right inventory management system can help your business from this infographic!


Infographic courtesy of SkuVault

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