Traditional inventory management was conducted in a way to minimize total holding purchasing costs and stocking costs by any owner into the selling business. This method was also known as “Economic Order Quantity” (EOQ).
However, with the advent of cloud-based solution and advancement of technology, today more and more business owners are seen switching over to modern inventory management system that allows them:
1. Easy customization
Every business owner starts his selling business with a motto of increasing brand sales and brand visibility. And, after spending hundreds and thousands of dollars behind your promotions, you won’t like to deny your customers for their orders due to no stock in hand.
- Is your inventory management system open to growth?
Firstly, ensure your inventory management system provider allows you to stay responsive to customer’s demands.
Instead of switching over to new system solution just because your current one does not allow you to manage growth, adopting customized inventory management solution that can grow and quickly respond to your new demands, is imperative.
2. Multi-channel inventory synchronization
Multi-channel selling being one of the buzzword for sellers, you want to make sure you adopt this method for improved visibility and faster growth. However, blindly dealing with stock for multiple channels can create confusion and result to over selling of products.
- Do you have a single access for your stock across your stores?
Being able to easily sync stock for all your selling channels at one place, will make it easy to track inventory counts on-the-go. This way, you can ensure every store is sufficiently stocked up to grab every opportunity that comes in.
3. Quick entry of sales information
Sellers, who have an ability to sync orders coming from multiple sources at one place, are saving time and costs that matters a lot for any startups and small business owners. Having an ability to automate sync of sales order information within a single system, can allow a competitive advantage to process and fulfil customer’s orders in time.
- Does your inventory management system sync order details for every sale that comes in?
Modern inventory management systems are helping multi-channel sellers an easy sync of customer’s order details in one system, coming from different sources that can include phone calls, website order, and marketplace orders too.
4. Real-time updates
The key for a successful inventory management practice depends on how accurately is your stock updated? Ensuring instant stock level updates are helping more and more business owners enhance their customer’s shopping experience, by offering quicker fulfilment service.
- Is your stock level updated in real-time?
Your inventory management system should ensure consumed stock is immediately replaced with new ones across every channel that you sell on. Automating inventory updates after every sale, is helping sellers gain a competitive advantage over other sellers who do it manually.
5. Marketplace product listing integration
More and more sellers are taking an advantage of selling over more than one platform. However, those whose inventory management system allows immediate product listing updates are gain a competitive advantage when selling over marketplaces.
- Are your marketplace listings auto-updated?
Automated inventory management software is helping marketplace sellers an ability to easily sync their product listings to their end-stores, from one place. This does not only help them save time, but also, ensures products are always available as per customer’s ever-changing demands.
6. Warehouse integration
Sellers who have their warehouses connected to their inventory management system are gaining real-time insights, which help them to understand stock requirement even better.
- Is your warehouse integrated with your inventory management system?
Having an ability to manage stock for both- your physical store as well as online store from one place, is encouraging more and more shoppers to expand their business across multiple platforms with no pain.
7. Bar-code capability
Not a new technology, still many sellers overlook the importance of a bar-code scanning method for their inventory. Able to track inventory movements in real-time, can increase efficiency and reduce risk of robbery.
- Do you assign bar-code to products?
Latest inventory management system is allowing sellers allocate unique identification numbers with information to each of their products. This automatically makes it easy and quick to scan movements of your products in store, as well as, at the warehouse.
8. Manage stock payment entries
Another biggest challenge to sellers is the hassle of maintaining purchase orders. Unable to record and track stock payment transactions can spoil relation with suppliers and lead to delay in procuring items, which directly impacts the customer’s shopping experience.
- Is your inventory management system able to manage purchase order transactions?
Eliminating the hassle of maintaining separate accounting sheets for each suppliers, modern inventory management system offers insights about all purchase payment transactions (cleared and pending) in real-time. This will automatically reduce errors and helps you build stronger relationship with your suppliers.
9. Track important stock metrics
Listing multiple product categories across their stores and marketplaces are helping sellers increase visibility for their brand. However, able to track performance of each product across all channels are allowing sellers make best optimization of their products.
- Can you measure stock metrics?
Generating insightful inventory reports, modern inventory management system ensures sellers are able to instantly track their slow and fast moving stock and make more and more winning decisions.
10. Single access for all your suppliers, and employees
With the growth of your selling business, automatically increases the need of expanding staff and suppliers to ensure smooth flow of stock throughout. However, many sellers are still finding it difficult to cope up, as they are managing each of them individually.
- Do you have a centralized view?
Working with multiple people to manage stock requirements for your selling business, can be easy adopting a modern inventory management system. Such system helps you easily sync all your suppliers and employee’s information at one place, allowing you to stay organized and work with them, efficiently.
If you are business that wants to scale, adopting modern inventory management solution should be one of your central focuses in this New Year 2016.
Business that provide products to people in return of monetary will know the importance of the managing the warehouse correctly. Despite knowing the fact, many business owners or warehouse managers often settle for a simplistic program such as Excel, spreadsheets, Word documents to manage warehouse inventory. There are benefits of using these programs for specific tasks, however they fail to add efficiency, accuracy, and quality control to the process.
From the art of movement and storage of inventory throughout the warehouse, to monitoring the progress of products through the warehouse - how can you manage your warehouse better?
Below are some tips and tricks that you need to keep in mind as you assess your current tactics and implement changes in your warehouse management practices:
1 – Organize the storage space
Whether you have a single or multiple warehouses - organizing the area, is the foremost thing you should consider for a better warehouse management. Ensure you organize the storage location by creating signage that will make it easy to track inventory. The best idea is to group similar inventory in the same area, and store best-selling products in easy-to-access locations (near the entrance) to quickly spot and account for inventory products, as well as improve fulfilment efficiency.
2 – Adopt labelling method
It becomes very important to quickly procure products from the warehouse and fulfil the customer order as soon as possible. Apart from creating signage, it becomes quick and easy to spot for products that have a printed label which defines the products specification. Adopting labelling method for the products in your warehouse, your staff can immediately trace the product in a glance and send it for fulfilment on-the-fly.
3 – Implement barcoding technology
Tracking your warehouse inventory manually increases paper costs and the risk of inaccurate inventory levels. If you are still using spreadsheets to track your warehouse inventory, it's time to change. Implement an automated inventory management system such as barcode scanner that will not only make it easy to track your inventory, but also reduces the number of human errors when processing inventory data, leading to greater accuracy all around.
4 – Create unique relationship with suppliers
You may have to deal with a number of suppliers to procure product in order to keep your business running. Hence, maintaining good relationship with your suppliers are just as important as your relationships with your customers. The best way is to frequently have an informal chat or call your suppliers on special occasions. By doing this, it will not only build stronger relationships but also reduce inventory costs and help you fulfill orders effectively.
5 – Always keep your staff in loop
With so many phases involved in warehouse management, you cannot improve inventory accuracy on your own. Hence, you'll hire employees for managing your warehouse. Ensure your warehouse staff are sound with the inventory management best practices that you follow. Apart from that, perform tanning programs to train your staff with the latest technology so you can adopt modern systems to manage your warehouse effectively better.
Implementing the above tips and tricks in your warehouse management will result to an increased cash flow, efficiency, and customer satisfaction, all at a reduced expense.
In today's demanding world of ecommerce, online retailers are trying every possible way to divert traffic to their store.
Of late, "click and collect" as well as "same day delivery" service was the most influential trend prevailing in the ecommerce industry. This gave a tough competition to the brick-and-mortar store owners. Whilst both these techniques proved to be successful for many online retailer, the response from customers was not that great. The reason behind this, many industry key players adopted and offered those techniques which no longer was seen by customers as an add-on and considered it to be a right that they had to receive. This made such techniques uncommon which again forced online retailers to struggle in order to introduce a technique (way of selling products offering good customer service) that will make customers realize the value of the service.
No later, a new technique " Try-and-Buy" was designed to encourage customers select a specific retailer over another.
What is "Try-and-Buy" technique?
This technique will allow customers to try products at home and decide whether they want to purchase the product or not. And, the added advantage to customers, the service provided is free of cost!
Is Try-and Buy a profitable strategy?
By adopting this method, retailers can attract new customers as well as encourage them to get emotionally attached to the brand. Also, it gives a chance to increase sales and popularity for their brand. But, with some many advantages you might be worried about the disadvantages.
As Try-and-Buy technique will involve shipping and returns, will create logistic complexities to deal with. It means there is high risk/high cost involved but the results will be overwhelming, if done in a correct way.
Key factors you must consider to have a successful free Try-and-Buy strategy in place
- It's time to know your customers well
The most important factor, you need to have strong understanding of your customers. This means you'll have to leverage big data to know past purchase history. Because, to be successful, you need to convert maximum products to a sales order that your customers order to try on. This means you have to ensure proper sizing guides available on your website. This will reduce the return rates.
- Offer products that will be profitable
You'll have to deal with a number of shipments and returns, therefore offering products that can cover the shipping costs involved will make for a successful Try-and Buy strategy. Include only those products that are easy and less-costly to transport as well as involves high profit margins when a sale is made. So incase, if a sales is not made and the customer wants to return the product, you don't go into a heavy loss.
- Have a return clear return policy and process in place
The foremost thing you need to consider before you start with this strategy, is to make your returns policy clear on your website. The safe way is to create a special Try-and-Buy returns policy page and attach it's link with every product that you list for this service. Adopting an inventory management system will help you get a clear view of all your products in real-time, enabling you and your suppliers to be well prepared for shipments going out and returns coming in. Also, ensure you have strong terms and conditions for when customers must return the product.
For online retailers, the Try-and-Buy strategy will not only prove to be appealing for online shoppers but also gain a competitive advantage against brick-and-mortar store owners as well as big players (Amazon, eBay) who are presently ruling the ecommerce industry. This strategy can create a bad impact on the profitability, if not implement correctly. However, keeping the above criteria in mind, you can run a successful Try-and-Buy strategy as well as enhance customer experience without impairing profits.
If you are running an online store or any business that is into buying and selling of product/services - I'm sure you are under a lot of pressure to perform back-end tasks efficiently and cut costs while increase revenue. Unlike traditional retailing, ecommerce industry have many obstacles and multiple potential points of failure.
Right from the moment an order is placed online to when it is sent for process, packed and dispatched - every step must be handled efficiently, most important, cost-effectively.
To fulfill those requirements many retailers end up purchasing costly complex software, and installing these can be time-consuming. And, if you spend more time and resources on administering processes and technology that are not user-friendly, then are not focusing on innovation and strategy.
Orderhive an effective solution for back-end operations
Automation can help you reduce time-consuming administration and easy back-end tasks. Orderhive - a multi-channel ecommerce system solution will offer you tools, technologies and interface to manage complex business processes that will automatically boost competitive advantage as well as improve a retailer's ecommerce presence as their business grows.
Why use Orderhive?
1- Cloud-based solution
Orderhive - a cloud-based ecommerce software solution allow retailers to access their store and make changes from anywhere, anytime. Instead of being tied to a local software or server, any desktop or android device can be granted access to the software, allowing changes to be made on the fly. Orderhive offers retailers an unlimited storage capacity that eliminates the need of purchasing a new hardware.
2- Multi-channel management capabilities
Most ecommerce companies today are adopting multi-channel strategy that allows them a chance to expand their offering in the national market as well as across the globe without the need of having a physical store. But, many of them fail to truly engage their customers just because they do not have the correct ecommerce solution that allow multi-channel management capabilities. Implementing Orderhive you can sync multiple store's data (that includes customers, orders, inventory, suppliers) into a single easy-to-use dashboard. This way you eliminate the need of logging into different sales channel individually and risk of errors that directly hits the bottom line of the business.
3- Leading integration synchronization
Your online store will require solutions to manage backend operations as and when your business grows. This can include a customer relationship management, shipping, payment, or any other system integration that will help you make a valuable use of your resources. However, integrating such solution requires hardcoding and is time-taking which may require a need to hire technical experts. Orderhive is well-connected to leading solutions and integrating your stores with Orderhive, you automatically enjoy those solutions eliminating the need of being technical know-how. Their solutions include shipping, CRM, shopping carts, as well as marketplaces.
4- Additional integrations at extra cost
There are many ecommerce solutions out in the market that offer integration with leading solutions, but limit users for the same. So, when you business grows and you realize that you need a tool to manage shipping cost (just giving an example), and just because your solution provider does not allow you to do so - you'll have purchase that tool. This way you increase the administration cost as well as effort to manage it separately. But, this is not the case when using Orderhive. Playing nice with major ecommerce solutions Orderhive allow users a standalone system, however for any additional integration user can opt for Orderhive's customization service which we would cover in the last point of this article.
5- Inventory and order management system
Managing products across multiple suppliers and sales channels is a challenge with no proper multi-channel ecommerce solution in place. Orderhive's intuitive inventory management tools help retailers to easily synchronize and optimize their inventory assortment to every online store and marketplace from one centralized system. Also, it's order management system offer tools that allow retailers to manage every aspect of the ecommerce order management process. You can create, edit and manage orders in real-time across every online store, marketplace, shopping carts, and other sources, ensuring good customer experience and satisfaction.
6- Request customization as per your business needs
Ecommerce solution providers that limit retailers from integrating with required solution as an when business grows is of no use. Every retailer would like to grow when opportunity knocks their door, however just because their solution provider does not offer them an integration as per the requirement - they feel helpless.
Orderhive offers customization services that allow retailers to work with skillful ecommerce developers who will be glad to listen and understand their business needs, analyze and suggest the best cost-effective solutions to fix those needs, at an additional cost. This also includes rich features like third party integration, dedicated technical resources, Amazon servers, knowledgeable software training sessions and much more. To know more about Orderhive's customization service please call on +1-888-878-5538 or email at firstname.lastname@example.org
Whether you are new to the ecommerce industry or looking for a better option, don't worry! Orderhive's support team will help you end your search, sharing some useful tips to manage your back-end operation and sell stress-free using Orderhive.
With the sudden rise of e-commerce more and more businesses and individuals are looking to use internet as an alternate or in some cases a primary source of income.
Today, billions of people use internet and knowing this, many are taking an advantage of selling products and services online. So, if you are one of those who is planning to make a presence online then there are few things you need to keep in mind before making any financial or time investing into selling online.
What you need to know?
1 - Research and try to select a non-competitive product
Today, with hundreds and thousands of businesses and individuals selling products/services online will make it difficult for you survive the competition if you choose products/services that are common. Some of the most common sold products sold online include apparel and electronics. With many retailers selling the same products online, its beneficial only if you take time to research well and select unique products to get a competitive advantage of selling them online.
Non-competitive product category includes automotive, furniture, baby supplies, pet care and more.
2 - Test them selling on small scales
Once you have confirmed your products/services, it always suggested to test them on small scales instead of directly jumping on a large scale. Target low-commitment platforms - like flea-market, exhibitions, pop-up store. This way you will understand:
a - What is your target audience?
b - How much are they willing to pay? Experiment different price range.
c - How is customer satisfied? That includes from the time they order until they receive it.
This way you can analyze and make better decisions in your product offerings and fulfillment process before you start selling online.
3 - Plan your budget
Planning your budget is an important factor to be considered before jumping into the world of online selling. If you plan to sell online, just building a website is not enough! You need to consider branding – how will your customers find you? How will you attract them to buy your products/services? So, if you are really serious of making a fortune out of your online business, you will need to budget at-least 1/4th of your investment to build your ecommerce store for promoting your site, product/services.
4 - Create and give a name to your website
It is incredibly important to create and name your website as to help it stand out from the crowd - both from a marketing perspective, and from an SEO perspective. If you don't have a designer to develop your website hire one to create it for you.
Spend time and work jointly with your designer to build your website. Emphasize more on your products or services that you wish to offer your customers and make navigations easy for them to buy. Avoid flashy website and keep it simple, informative and easy-to-use.
Once you create your website, select a name that is short, simple and unique. If you are confused of what to name your website then the best way is to research and discover what names are being used by your competitors and try to come up with a name that is different which reflects your niche and the type of products you're selling, without your business name being too similar to your competitors.
5 - Abide security for your site and customers
Today, shoppers find it safe shopping online. Hail to the world of technology, that have led to the safe online shopping. SSL(Secure Sockets Layer) is the most common technology used by many website owners. These kind of technologies protect and encrypt customers personal information that are used on your website - that includes name, address, credit card details, etc.
So, purchase a certificate verifying your website and abide security like SSL for your site and customers safety.
6 - Know your suppliers
Once have a clear idea about your front-end requirements, you need to know about your back-end requirements before you get your store up and running. Getting your website live, you'll start receiving orders and hence it your duty to plan your fulfillment in advance. You don't want to miss an order just because you don't have the products in stock. So, it becomes important for you to build a link of suppliers dealing with your products and services. Research and make a list of suppliers, know them well and ensure that they would be available when you require them.
7 - Choose an ecommerce software for behind the scenes
Once you have website up and running, the way you handle customers will have a major impact on customers perception - turn a one-off sale into repeat business. Today, there are many automated ecommerce software solutions available in the market. A complete ecommerce inventory and order management system solution can deliver speed and efficiency to the order fulfillment process and link up the different people in your firm who might be handling the order. Not all software available in the market are genuine, so know your business needs and take time while you research for an ecommerce software that will best suit your site.
8 - Consider apps for marketing and social media
It's of no use selling online if no one knows about it. Online marketing such as search-engine optimization, pay-per click, e-newsletter, blogs, social media, will get potential customers to your site. There are many free and paid marketing and social media apps that you should invest for your site which will help you know your visitor's response in real-time, so you can refine your marketing further.
9 - Consider a live chat support
A shopper who visits your website, will look-up for the products/services they intend to purchase. This is a stage where they may need assistance and if they do not get the information they are looking for, they will immediately leave your site for one of your competitor. So, it is very helpful to consider a live chat support functionality for your site to avoid situations that directly hits the bottom line of the business. Having a live chat support will automatically track visitor's behavior in real-time. This way you can offer great suggestion and promotions on-the-go, encouraging them to shop from your site "right now!"
With a correct approach, you will need only a handful of tips listed above to make selling online successful!
Managing inventory is not an exciting part of becoming an eComm retailer, but it can make or break your store.
Without an effective management, web-stores can land up blocking capital in excess inventory, loss on sales in stock-out scenarios, create fulfilment problems in warehouse, and in the end let down their customers.
But, let me tell you, integrating your store and others channels together with a correct inventory management system can help you build a loyal clientele, optimize cash flow, and improve their bottom line.
What to look in an inventory management software?
An inventory management system optimizes complex distribution networks by enabling a central management of inventory, labor and process across multiple warehouse facilities.
Your inventory management system should enable you to:
1. Manage and allocate inventory across all your warehouse locations.
2. Co-ordinate multi-channel order management process.
3. Manage inbound receiving process.
4. Respond quickly to customer-specific, value-added services requests.
In order to have a smooth inventory flow in your store and across all your sales channels it is very important for you to select an inventory management system that allows multi-warehousing features.
How multi-warehousing feature can facilitate inventory control?
Efficiently manage multiple location/warehouses
This feature will allow you efficiently manage inventory across multiple locations. It allows you to create multiple locations, transfer stock between them and specify what warehouse stock is going into and out from.
Transfer stock between warehouses
When your store receives an order, this feature will help you transfer stock between warehouses and ship the order from the nearest warehouse to expedite the order fulfillment process.
Dispatch stock from a specific warehouse
With a multi-warehouse inventory management software in place you can specify the warehouse you wish to send good from. So, when you receive an order, the stock from that warehouse will decrease when the order is fulfilled.
Receive stock at a specific location
For any purchase order you can specify the warehouse you wish to receive the stock . So, when the purchase order is received it will push that stock in that specific warehouse.
Warehouse management software will give you a proper insight of all your inventories and warehouses in real-time. This way you have a complete insight of your inventory levels in store and across your warehouses.
With real-time analytics you can measure each location’s sales to see which warehouse are more profitable than others and which have a higher demand for certain products. Then you can adjust your inventories to meet demand and avoid shortages or production delays.
Benefits of warehouse management software
1. Increased inventory accuracy.
2. Improved order fulfillment accuracy.
3. Reduce order pick up times.
4. Improved order fulfillment speed.
5. Reduce order fulfillment cost.
6. Ability to meet customer specific needs.
7. Ability to sell more.
Of course, the need of multiple warehouses depends on the size and scale of your operation, as well as the cost to expand. That's why it is always recommended to indulge with a fulfillment service provider who already has warehouses in multiple locations. This way you can extend a wider footprint without added time, money, and expertise needed to build or purchase and staff warehouse space.
Have you ever come across a situation when you landed up at a supermarket and the cashier had to log all your shopping cart content, then look up for the price for each item in the binder, update the stock remaining in the store and then finally tally your bill. Would you ever go back to the store?
Managing online store is no much different. In this world of technology, unmanageable and inefficient manual processes continue to plague the retail and eComm industries, and specifically their stock management system.
Importing products from a single warehouse is time-consuming task. And if you maintain your own warehouse, you have to manage the fulfillment process as well as track inventory updates to be in sync with your online store. But in the end all these resources distract from the bottom line.
Instead, online retailers should indulge with an all-in-one online order and inventory management software that can easily help you manage and automate all those process associated with inventory management. This will help reduce error potential that can cause hindrance in process, communication and in meeting your high-end customers experience.
Below are the top 5 practices that are critical components of an all-in one eComm management system. These will help you simplify and streamline your inventory management.
With the ability to track your inventory levels and manage product threshold limits to make sure products are removed from your site when these limits are reached, provides an immense relief in mind knowing there will be no more out-of-stocks and cancelled orders scenarios. Therefore, indulge with an appropriate inventory management software that offers an ability to select primary warehouse for fulfillment if you have too many suppliers or warehouse with the same product line.
The process of getting products from your suppliers to your online store can be time-consuming and onerous. This also results to missing data, heading are mislabeled and other error prone scenarios. Indulging with an appropriate system that can connect to any of your suppliers, import and correct all product data allowing you to publish it to your store without having to do anything manually is a real time-saver, especially for online retailers managing multiple suppliers and stores.
Integrate with an inventory tracking system
The best way to overcome inventory challenges is to integrate with an inventory management system that allows you snapshots of your total inventory for every supplier that includes, the number of products, what's up on the site, what's not on the site, blocked inventory, available inventory- all in real-time can have tremendous value. This way you avoid the hassle of maintaining spreadsheets for review.
Order management system integration
It is always recommended to sync your inventory and order management system to make sure your orders are fulfilled and customer satisfaction exceeded. Therefore, it is suggested to invest in an all in one online order and inventory management software which will simplify your inventory and order management flow like never before!
Always remember having a system that can provide automation is through where all your efficiency and ROI gains come from. Hence, your system should have the ability to update inventory in real-time when an order is fulfilled as well as manage catalogues automatically. The more you get rid of manual process, the more you can reduce your management cost and reallocate resources to more strategic tasks.
The caliber to accurately manage your inventory is a key to providing inimitable service to customers, efficiently utilizing resources, and maximizing profits. With the increasing demand of online shopping, it is important to have an edge over your competitors. Using modern software to manage your inventory challenges will ensure you assign more time, capital and resources to growing your eComm store.
Useful Tip: For growing a successful eComm store, it is always recommended to utilize less and smart effort on management tasks, and more time towards expanding your business.
The basic motto for every online retail store owner is to fulfill their consumers needs. Driving traffic to the site is not the only goal for an online retail store owner. To offer an utmost customer satisfaction should be your main aim in order to boost your webstore’s sales. You may receive hundreds and thousands of orders per day through your marketing strategy, but if you do not ensure a proper customer support, around 75% of those orders end up for a cancellation.
A customer is always concerned about his/her order, from the time the order is placed until received in hand. Thus, it is very crucial for any online retail store owner to be proactive than to be reactive.
Take a look at the top 5 steps to minimize order cancellation and be sure to address them before you have to deal with them.
You receive many orders in your sites through multiple ways, so when an order is received in your store, an order confirmation call or an email will ensure the customer that the order has been placed successfully and will be processed. Many web store overlook the importance of an order confirmation call or email to their customers. If you do not interact with your customers after an order is placed and simply process the order, they would be clueless about the order. This will lead to an annoyed customer, who in turn may end up for a cancellation, even if your were going to deliver the product as per the turnaround time mentioned in your site.
Delay in shipment and delivery
Many times it happens that after an order is placed, your realize your inventory is out of stock and may lead to a late shipment and delivery. This will surely frustrate your customer, hence it is very important for your customer support team to inform the customer and explain him/her the scenario, because with no customer interaction in such cases will lead to order cancellation and you may lose a customer forever. To avoid stock issues, it is essential for you to invest in an inventory management software like Orderhive, which will help you manage all your inventory woes like never before.
Deliver the product at the right place
Ensure products are delivered to the correct landmark. It may happen that the customer may have accidentally entered a wrong delivery address or requires a change in delivery address. These details should be well updated and confirmed before shipping, because if the product is sent to the wrong address, the customer will get annoyed and refuse accepting the product, which in turn leads to an order cancellation. Hence, it is very essential for you to integrate your store with an ecommerce software solution like Orderhive, that will help you manage all your back-end operations easily.
Accurate shipment status
Ecommerce sites often provide a shipment tracking link to their customers in email. Ever order something and have it arrive before the site was updated to show it was delivered? That’s not good for your site. People are always nervous about their online orders. The thinking is, “They have my money, but I don’t have a product, yet,” which in turn will cancel the order. Therefore ensure that you indulge with a proper shipping management software like Orderhive, that allows you to integrate with leading shipping carriers that will allow you to manage your logistics in a very organized way and keeps your customers relaxed by making sure your site provides accurate and timely updates on orders.
Check product before shipping
As per an ecommerce study on order cancellation ratio, it is seen that maximum orders have been cancelled due to wrong product or empty package delivered. Hence, it is important to indulge with a proper order fulfillment software that will ensure each and every product is checked well and then packed and shipped to the customer. Leading software solution like Orderhive, offers a complete solution to your order fulfillment challenges, as it allows you to integrate with leading carriers and allows you to manage all your inventory, orders, shipping and customers in real-time, all from a single integrated screen.
To know more, visit www.orderhive.com or call us at +91-79-65445102.
Congratulations-your online business is growing. However, with the growth comes in more responsibilities to cope up for a smooth flow of your business process. Do you have the right application to organize your back-end operations, or is there a more cost-effective way to go about managing that growth?
If you are thinking to spread your business online, then you must really integrate must-have apps built in your website. If you have a professional ecommerce application running your back-end operations, you can ensure that a customer will have a good time shopping from your website, in turn increase your customer base and revenue. When a customer is happy, you can be sure they spread a good word of your website and will turn up for a repeat purchase. Orderhive.com, an ultimate ecommerce solution for your back-end operations, ensures all your products are organized categorically, so that the customer gets the product easily with just a click of a button.
Let me take you through a quick overview of the must-have apps to boost your back-end operations seamlessly.
Inventory Management App
Inventory Management App is the most essential and advanced way to keep the records and tracking product levels and sales. It will ensure that there is enough stock of products to meet the consumer’s need while also making sure that the shelves are not overstocked, indeed an inventory management system is a key reason for cost-reduction. Grab a powerful inventory control with leading apps that include vtiger, inFlow, ABC inventory and many more.
Order Management App
Order Management App will help you simplify your order process, eliminates errors, gives you a clear visibility of order cycle, and ensures that the orders are shipped to the customers systematically. Order management system will enhance your multi-channel selling from a single platform. Shipwire is considered one of the leading apps to manage seamless order management flow.
Shipping Management App
Shipping Management App will get your orders out to your high-end customers in minutes instead of hours. Print, pack, ship, and sync tracking information all from a single platform. Easily updates your buyers with shipping information and send tracking alerts in real-time. Simply your shipping process integrating with leading apps like ShipStation, Aftership, Shipworks and many more to choose from.
Online marketing has undergone a tremendous change since its early days. There is completely new universe of marketing channels that help drive traffic, manage SEO, sell on new channels, and promote products. Leading marketing app like Facebook, Google and many more will help you promote your website.
Customer Service App
Customer service App is an important for every establishing online retailer to offer the best support to their customers via email, phone, and live chat solutions. Zendesk an ideal customer service app can boost your customer loyalty.
Tally an accounting app serves as a complete business accounting and inventory management software that provides various facilities like multilingual operations, online functions, and processing for small and medium businesses.
Orderhive, the ultimate cloud-based order and inventory management system provides access of leading apps to retailers which will help their business grow exponentially.
Drop shipping business is relatively a different type of selling system used by many online retailers that do not have a physical storage facility to hold inventory. This is a product delivery method in which the seller accepts the payment for an order, but the customer directly receives the product from the supplier.
What is Drop shipping?
Drop shipping is a simple concept of selling a product. When an order is placed by a customer, the retailer passes on the customers order information to the wholesaler or supplier who then packages and ship the product to the customer. This method minimizes the risk for you, as a retailer, because you don't need to purchase the product until it is sold. Suppliers take care of the warehousing, packing, and shipping products, saving you a great deal of money.
How does it work?
Drop shipping method is acted by the supplier, retailer and the consumer. In the traditional business design, the retailers will order products from the supplier or manufacturer and is obliged to stock products in the warehouse. The retailer then has the function to promote and advertise the product and when another retailer or an end user orders from it, it gets its supply from its own inventory. In drop shipping the supplier has the function to create the product and store it for itself. The retailer does not have to get the product from the supplier or the manufacturer but is focused only in the marketing strategy and advertising of the product.
Here are the steps involved in drop shipping:
If you are a retailer with no upfront cost in turn allows you make more profit. With this method there is no need to have an in-house order management and inventory management system, nor you need to pay for the inventory upfront- if the product doesn't sell, you never have to buy it. Also, no packing, labeling and shipping cost applied, not there is a need to built a shipping management system. You purchase products at wholesale price and set your own retail price.
Whether you looking to expand your retail business over the internet or just looking for supplemental income, dropshipping business can be for you.
Simple, yet powerful