Inventory Management Articles

Alan Wright discusses the biggest trend in e-commerce and how you can benefit.

The biggest trend in e-commerce for the modern market is integrating it with social networking - where the majority of Internet traffic gathers. Facebook made headlines when it added an e-commerce option, and Pinterest followed suit. The latest news is that Twitter is starting its own e-commerce integration, while other companies like Fancy, Wanelo, and Polyvore are making a name for themselves for social media store design.

This shows that a successful rise of online business and entrepreneurship may be in the near future, perhaps even as soon as 2020. This sort of growth recalls to mind the dot.com late 90s era where e-commerce boomed - and of course, crashed and burned shortly after. However, things will be different this time because e-commerce isn't a novelty but a way of life for a population dependent on Internet globalization.

E-Commerce Lives or Dies on Organization

If you are hosting a web store or even a medium to large company website for merchandise, then by now you realize the importance of organization in your business. Without accurate record keeping, scheduling, and reporting, how can you expect to maintain a professional and well-reviewed business?

However, not every e-commerce site uses a professional inventory management system for this task. While most business owners don't use paper for tracking Internet sales, they may still rely on basic spreadsheet or accounting programs rather than a comprehensive warehouse-centric solution. Maybe these business owners think that because they don't actually house their inventory that such a complicated set up is unnecessary.

The Modern Inventory System is Flexible

What's nice about a system like iMagic Inventory is that is scalable organization; a system that can keep track of hundreds of individual items or just a select few. The program streamlines the entire warehouse project, from manufacturer's delivery to storage to sales and reports.

All the items you sell become corresponding sales orders, which can be reported in a customized sales report for market study. Warehouse functions like inventory updating, purchase orders, updating customer orders, managing stock levels, and applying default discounts whenever needed.

The benefits of this system are in superior managing practices, which eliminate or reduce human error, overselling, under stocking, inaccurate totals, and moving average costs. Searching for individual items, even a long list of purchase is easy, not only with custom reports but also with the software's ability to create inventory tags. Other advantages include maintain quote records, tracking variable tax rates for your industry and state, and even email correspondence for business.

Reports and Analytics - Made Easy

While convenience is a factor that's hard to ignore, including multi-user use and limited accessibility for confidential information, there's another factor that's imperative.

Sales analytics is an aspect of business that every store owner or manager should look into. Understanding the analytics of your site is the key to longevity. With basic accounting software, all you have are the records, which must be extensively research.

With iMagic Inventory software, you get a user-friendly interface that allows you to manage multi-warehouse facilities, and report all transactions involved in stock movement and sales. Sales reports are only one click away and can provide you with an in-depth profile of your business, as well as reports on vitals like cash flow, expenses, and refunds/returns.

This is a software program that enhances company efficiency, even while reducing the number of hours you need to spend studying records.

If you want to have an edge on your competition, treat your e-commerce site like a brick and mortar store - study the trends, strategize and use your iMagic tools to plan marketing strategies that can't fail.