Managing inventory in one place helps you avoid stock-outs and lends to better analysis of your products in terms of performance, peak selling periods, etc. More importantly, centralizing the management of your sales channels allows for more accurate inventory calculations.
Very often, online retailers who are evaluating an inventory management solution for the first time, realize the need to automate their order and inventory processes to not only alleviate the headaches and inaccuracies associated with the manual efforts, but to position themselves to continually grow their business.
According to Software Advice, 95% of the prospective buyers they spoke with were also first-time buyers. Of that, 36% were using accounting software to manage their inventory, while 35% were using Excel or another spreadsheet method. Another 11% were using what they called “manual methods”, which often referred to the good old pen and paper method. Those buyers using any of the above methods are the kinds of people we speak to daily who love the fact that their business is growing, but hate the headaches this growth brings if they don’t have the proper systems in place. They are looking to ease these pains so they can enjoy their success!