and fulfillment: Once a customer makes a purchase, order management kicks in. This process involves everything that happens after the Buy button; It’s what controls all the downstream operational processes, people, systems, and partnerships that help fulfill orders. Order management is what makes it possible to give your customers real-time updates about where their order is (“Your order has left the warehouse and is on its way to your doorstep!”)
Step 4 — Update inventory levels: When your inventory and order management software are in sync, the entire post-purchase process is transparent for your employees as well as your shoppers. Inventory is updated automatically in real-time, so you always know what’s in stock and what’s not. This gives your merchandisers and inventory managers an accurate view of orders and makes it easier to manage and coordinate packaging, shipping, and fulfillment processes.
Step 5 — Reordering and restocking: As orders are fulfilled and inventory levels decrease, reorders allow you to maintain a continuous supply of products. It’s crucial to know when and how much to reorder. Ordering too much too soon could result in deadstock (inventory that is no longer sellable because it’s expired, obsolete, or out of season). Waiting too long to order or not ordering enough could mean stockouts — and frustrated customers. AI-powered tools can help america phone number list you monitor inventory levels, generate reorder alerts based on predefined thresholds, and even automatically place orders with suppliers.
To help you get the right amount of inventory to the right place at the right time, leverage AI technology throughout the various steps of the inventory management process. With AI, you can automate tasks, gain valuable insights, and make your operations more efficient.
Achieving inventory visibility: essential for scalability
The first step to successful inventory management is knowing where your products are at any given moment. The ability to view the quantity and flow of your goods in real-time is known as inventory visibility. Once you have a clear view of all your inventory, it’s much easier to track and store massive quantities of data, match supply with demand, and reduce instances of overselling and underselling. This also enables growth at scale. So, how do you get a crystal-clear view of inventory?