Key Advantages of having an online inventory for your distributor

Online is the new way to grow your business. Right?

So why not an online inventory for your distributor? 

Online inventory management is useful for any business of any size, let’s take the example of a laptop distributor in this article.

Good managed online inventory can help to expand your business of laptops.

But wait a minute! Let’s start with some basic questions first.

What is an online inventory?

An online inventory is a detailed record or a list that is used to keep a count on goods and materials you have in stock. So, for a laptop distributor, an online inventory is the list and record of all the laptops in stock.

Is it that important?
An effective inventory control greatly affects every part of your business, from your warehousing costs to the timely fulfillment of orders. It is a valuable business tool because it automates all the inventory tracking, helps in increasing profitability, creates more customer satisfaction, and makes your business a lot easier to run.

Online cloud-based inventory management also provides you with the flexibility to grow your business. It allows you to generate accurate reports when required. Helping to meet daily demands like- 

  • Improve forecasting
  • Inform decision-making 
  • Identifying business growth opportunities

And with On-premise inventory management, online inventory has a clear win.

  1. The delivery method

On-premise management can’t be used on any other device. Whereas, online inventory is accessible from anywhere.

  1. Updates and all the features

Online inventory software, gets updated according to the developer and often happens without you even knowing, this does not happen with an on-premise inventory.

  1. Ownership of the data

In on-premises inventory, you own all the data and are responsible for everything. Whereas in online inventory only the data belongs to the business, so you don’t have to worry.

  1. The cost

In a simple way, on-premise inventory costs more, while in online inventory you pay much less monthly for all the features.

Does everyone use Online inventory?

As told before Online inventory management is useful for any business regardless of its size. 

For a manufacturer, online inventory control means a better tracking and item-by-item costing of production jobs. They need online inventory solutions that can offer advanced features for production and operations management. 

For distributors, they can integrate systems with CRM and POS systems for their distribution business. With eCommerce overtaking, distributor managers can seek out new ways to improve their distribution processes to provide faster customer delivery.

Online inventory means distributors can merge with online products like point-of-sale systems which will notify them each time an item is sold at the register. So, a laptop distributor will get the notification if any laptop has been sold, so the laptop distributor can re-order the stocks.

Wholesalers with online inventory management can manage inventory across all the multiple warehouses and keep track of inventory stock levels in real-time. In addition, the holistic view offered by online inventory systems means you can seamlessly move inventory between warehouses to deliver products to your customers, faster and more efficiently.

Having a collective view of all warehouses by using a single online system provides them with all of their data anywhere and at any time. Which give them access to-

  • Real-time reports on their inventory stock levels
  • Sales activities
  • Purchases relative to each warehouse

Key advantages of having an online inventory(laptop distributor)!

Till now you have figured out how online inventory management benefits everyone, with real-time control over inventory, or how it gives a complete picture of what’s happening in your business, and also how it records every transaction in real-time. Here are some more detailed benefits for online inventory taking a laptop distributor in context.

  • It enables enhanced inventory with barcode tracking and RFID capabilities so that a laptop distributor quickly finds and picks products. 
  • It improves forecasting and provides better inventory control for  excellent use of space, time, and cash flow
  • It also helps in improving financial reporting accuracy for there’s one source of data that flows through to the accountants
  • It can be easily integrated with other cloud-based software.
  • Happy customers! so they will keep coming back because you have a lot of laptop stock.

So, do you think online inventory management is crucial to a laptop distributor or any distributor in this case?

What is the ICT circle?

The B2B Platform for ICT channel: Vendors, Distributors, Resellers, and System Integrators from all over the world can transact with each other using the utilities of this platform. The features offered by ICT Circle are easy to use and give flexibility to seamlessly indent sales, procurement, marketing, and training to its subscribers, ultimately simplifying the day-to-day processes of the ICT fraternity

Wanna learn more about the ICT circle? 

Visit here: https://www.ictcircle.com

ICTVerse

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