Why You Need an Inventory Management System for Holiday Season

Why You Need an Inventory Management System for Holiday Season

Hiral Thaker

October 6th, 2020

Holiday season is almost around the corner. Like every other festival in 2020, this holiday season will be different. It means that this year people won’t be giving gifts to their loved ones in person. But that definitely is not going to stop them from gifting. They are going to look for estores/ecommerce websites that are offering contactless deliveries, gift wrapping, gift messages, and are following proper precautions set by WHO.

Hence, as an eCommerce business owner, it’s the perfect time to up your game and catch up with the trends.

Apart from offering contactless deliveries, gift wrapping, etc., you also need to streamline your inventory management to serve your customers who will be high on festivities.

Focusing on deliveries and order fulfillment makes sense, but why focus on inventory management?

Well, here are some major reasons why you need to have an inventory management system in place during the holiday season.

Saves time and money

With the help of the proper inventory management system, you can get to know what products are in the stock, which ones need to be ordered, which are out of stock, or about to go out of stock. Imagine running out of stock the trending sweater from your store during the peak holiday season. Can you imagine the loss you’ll have to bear?

Hence, keeping a close eye on your stock especially the ones that are in demand will save you lots of money and time. Not only that, but it will also give you a clearer picture where you stand in terms of your inventory as a whole.

And with the right inventory management software, you can even update the inventory in real-time giving every stakeholder an updated view of the situation at every possible time.

Real-time inventory updates

Real time sync concept illustration Free Vector

This is one of the major benefits of having an inventory management system. If you have a clearer idea of what’s going on with your inventory, you can present this clarity to your customers by updating your website accordingly. While your customers are online searching for a particular product, they will be able to see how many quantities of the products are left.

You definitely don’t want them ordering something that’s not in your stock. Imagine the damage it can do to your reputation.

Additionally, you can also use the quantity counter as your marketing strategy to create a sense of urgency in customers, which work especially in the holiday season.

Centralized inventory

Being a medium or large scale eCommerce platform, it is likely that you might have warehouses at multiple locations. In this type of scenario, it is easy to get lost in the middle of everything. Having a centralized inventory management system helps overcome many challenges that this scenario poses. Additionally, it eliminates a lot of redundant communication that happens between different warehouses to check up on the availability of certain products.

This also helps your team have clearer communication and decrease any types of issues in transits, wrong deliveries, or product lost.

So, are you ready to adopt an inventory management software?

If yes, then check out our inventory extension for Magento 2 which enables you to manage your inventory on the go!

Magento 2 MageMob Inventory

Purchase Order List

Equipped with features like supplier management, stock and purchase order management, and more, our inventory management extension brings the stability you need to win over your competitors this holiday season.

So, let’s prep you for the holiday season, shall we?

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