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Inventory Tracking Software Tips

Read these 5 Inventory Tracking Software Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Shopping Cart tips and hundreds of other topics.

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How can inventory control software help me sell more?

Inventory control software and online shopping

Inventory control software can work with your online shopping cart, letting you add, edit, and remove items from your inventory. Taking full advantage of your inventory control software lets you bundle different inventory items into one or more products. You could also offer a discount if two particular products are purchased at the same time. Multi-level pricing also encourages your customers to buy more, offering specific discounts for different quantities. You might also want to show returning customers their past order, if that makes sense for your business, making it easy for them to reorder items.

   
Can I get an internet shopping cart that integrates with inventory tracking software?

Inventory tracking software and your shopping cart

Internet shopping shopping carts can be as simple or as complex as you want. Some do include inventory tracking software to help you with your asset inventory and tracking. Some shopping carts can integrate with your accounting software, which in turn might manage your inventory. Many can communicate via various standard database calls to import and export order information, performing asset inventory and tracking. Inventory tracking can be a very valuable part of your online shopping cart.

   
Can inventory tracking help me stay in touch with my customers?

Inventory tracking to improve your customer service

Inventory tracking helps you keep your customers satisfied because you can offer up to date information while they're shopping online. If you need to backorder an item, you can show them how long you expect that to take. Inventory control software can notify customers when items are shipping. You can also send out emails to alert your customers about new items that arrived, giving them the first chance to buy new items. Inventory tracking can help you spot season trends and ensure that you don't run out of key items. When you run out of items, your inventory tracking can alert your online store so that you don't continue to offer items you don't have. You might tie this in with an alert system if customers want to be notified when you have the item in stock again.

   
Can asset inventory and tracking software help me track the cost of goods sold?

Asset inventory and tracking

Asset inventory and tracking software can tie into your accounting system so you don't have to enter the same information into two different applications. You can track cost of goods sold to ensure that you are making a profit. You would typically buy items in one quantity and sell them separately if you're selling to consumers. Many times, an online store creates an item by bundling different items together in a package. Your asset inventory and tracking system can make sure you always have enough of all the individual parts to build up the items you are selling and can help you price things appropriately. Your inventory tracking should be able to show you how many individual items you have and how many bundled items you can create from your stock on hand.

   
Is there anything special I should know about inventory tracking software if I'm going to run an import business?

Inventory tracking software and your online import business

When you are importing products to sell locally, the lead times can be quite long. Make sure your inventory tracking software lets you adjust the lead times so you can be notified when stock is low and have enough time to order and receive delivery before running out. You should be able to run reports showing you long forecasts so you can plan appropriately. Many items only sell at certain times of the year so if you order the items too late because your inventory control software didn't alert you long enough in advance, you'll be stuck storing items until their season comes around again. Or you'll end up selling them at a loss just to get rid of them and make room for your new items.

   
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Kristle Jones