Why, because Shopify inventory management will help your business grow. There is no doubt that E-commerce is a highly competitive space for most of the products. You have to focus on sales and marketing and what toy should spend. Then if you don’t have enough capital to invest in sales and marketing, then chances are you will stay behind the competition and have even harder times growing and selling more.
The other option you could have is to support sales and marketing through high margins. However, your competition won’t allow you to set high product prices to gain high margins.
E-commerce businesses have a few main cost components. The main one is your stock or inventory. By optimisation your inventory with inventory management you can achieve price elasticity and higher margins. Through higher margins, now you do have more funds to spend on sales and marketing and start growing at a steady level.
Inventory management systems such as Intuendi are there to help companies that are using e-commerce platforms like Shopify firstly to have access to real-time and accurate inventory data. With the accurate inventory and order data, our Shopify clients can create the base for demand forecasting and optimize their inventory. They can hold the right inventory mix and quantity by minimising their inventory holding costs. Also, our Shopify clients see that the customer service level is improved drastically and customers become returning customers.
Lastly, with Shopify inventory management our Shopify clients start saving costs from their operational resources and manpower that they use for warehousing and order fulfillment. This is one of the real gains of an inventory management system for a Shopify e-commerce business.