Why track inventory

This way, they can alter the delivery dates of that particular product for their customers. Well, it is always better to keep your customer informed regarding the delivery schedule. It builds trust.! The Ecommerce industry has the highest return rate due to any given reason. It may be because the customer did not receive the product as expected, or the quality was not that great, or it was a damaged good.

But the good thing is, the inventory tracking system tracks every product that is returned and you can feed the reason of return. Also, they can send this product back to the supplier for an exchange or to run diagnostics.

Either way, an Inventory Tracking System sure can help the supply chain management by keeping a constant watch over the inventory and knowing every detail in the step-by-step process. But, it surely is an integral part of the process. It covers and tracks everything from the manufacturing of product to the doorstep delivery of the product. Orderhive is one such solution to your inventory problems.

With the right knowledge and multiple enhancements, Orderhive has helped many companies achieve their inventory goals. I write to express and believe that words are powerful.

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Your email is never published nor shared. Running an online selling business, ensuring accurate stock availability can still be a struggle for sellers who have yet not adopted the correct strategies in their warehouse mana..

Inventory management means providing the required levels that can sustain businesses daily operations at minimal cost.

This includes determining the levels of stock to order, when.. All rights reserved. Various trademarks held by their respective owners. Why Orderhive? Success Stories Get to know how Orderhive helps our clients in this section. Read more reviews.

Product Listing Management Manage product details and improve customer experience. Multichannel B2B and D2C commerce -. B2B sales, complex quoting, including EDI sales -. Retail operations including POS, and inventory management -. Warehouse Management Multi-warehousing, real-time order allocation workflows.

Product manufacturing including made- to-order, production, and MRP -. Inventory Control Smart tool to maintain stock levels and minimize errors. Purchase Management PO life-cycle management with purchase recommendations. Returns Management Experience hassle-free returns process using Orderhive. Seller Fulfilled Prime Cut costs, outgrow business and fulfill prime orders. Starter Your first step to becoming a full-fledged organization. Growth Best Plan Let your retail business grow with our complete solution.

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Help Videos Learn to use Orderhive quickly with our video tutorials. Infographics Read interesting facts in visually appealing design here. Warehouse Management Learn the requisites to achieve a fully functional warehouse.

Order Management The entire life-cycle of order from fulfillment center to reaching the customer. Shipping Labels Get to know everything about shipping labels - its types, how they are made, important terms. Industry Terms Let your retail business grow with our complete solution.

Shipping Management Get to know A-to-Z about shipping including its types, important terms, and costs. Supply Chain Management Learn about how supply chain management is all about getting the right products at the right time. Contact Sales Book a demo. Ankita Bora 07 Aug 11 min read. What are the Types of Inventory Tracking System?

What is Inventory Tracking System Inventory Tracking System is a tool that allows you to track your inventory and maintain inventory related discipline in your supply chain management system. Now, Set Pants have their inventory of formal pants, formal shirts, and office blazers sorted out, counted, and noted for future reference. Why is an Inventory Tracking System Important?

Thus, to sum it up, an Inventory Tracking System is required to: 1. On the other hand, Set Pants has been using an Inventory Tracking System, so when they are running low on stock, the system notifies them beforehand. Track Stock Levels of Multiple Warehouses and Locations With large companies keeping track of stock becomes all the more difficult.

Various tracking methods exist to track inventory. The barcode, also known as the universal product code UPC , remains one of the most common inventory tracking methods. The majority of grocery stores and retailers use the barcode found on products to scan the items at the point of sale terminal. Barcodes track the movement of inventory throughout the supply chain.

Radio frequency identification RFID is another method used to track inventory. Active RFID works best in environments where security issues exist and ones that require real-time tracking information. Passive RFID works best when used with handheld scanners and where security issues do not exist. He is a graduate of the New York Institute of Photography. What Is Inventory Tracking? By Kenneth Hamlett. Inventory Most companies use inventory in one or more forms.

In addition, regular audits can readily upgrade your inventory tracking. Inventory tracking is an indispensable part of your ecommerce operations, and has the potential to make or break your success in the long-term. Skubana is the ideal solution for accurate and efficient inventory tracking, by maintaining real-time stock counts and automating ongoing processes to elevate your brand at every level.

The following are a few frequently asked questions to help you determine which inventory tracking method might be the right fit for you and your business.

Skubana is by and large the best program to track your inventory across multiple channels or warehouses. You can make an inventory tracking spreadsheet with programs like Microsoft Excel. Additionally, you can manually adjust your stock counts to track inventory quantities over time. While the conventional way to count inventory is to do so by hand by scanning barcodes and constant check ins on products, that approach opens up to countless inaccuracies and human errors.

Someone from our team will contact you shortly. Inventory Management. July 18, 9 min read. Written By Matt Rickerby. Comment 0 Leave a comment. Read Article. Watch Webinar It's as easy as entering your information. Full name.