The Internet has changed the way we think, the way we dress, and even the way we do things. It has changed each and every field out there. It has also greatly impacted the field of business. The way of business has changed forever. And online inventory is a good example of how digitalization has changed the business field.
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.
Why is it important to have an online inventory?
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
What is the ICT circle?
ICT circle is a B2B Platform for ICT channels: 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.
How is it going to benefit your business by using the ICT circle?
As a B2B platform, ICT circle provides many great features to improve your overall IT business. One of the great features ICT circle helps to manage and regulate the online inventories. After using the ICT circle platform for a certain period of time, businesses will come to know the buying patterns of their customers, and accordingly, they can stock up the things, manage their inventories, throw deals for unsold or slow-moving products, test market the new products and offer services if required.
Why is it important to upload your inventory on ICT circle?
After using the ICT circle’s online inventory management feature, there are a lot of benefits your business is going to face. ICT circle provides perfect inventory management with efficiency. Here are some benefits of having your online inventory managed by the ICT circle-
- Inventory Tracking!
A good platform like the ICT circle will help you keep track of your inventory and give a centralized view of stock, how much is in the stock, and where it is?
- Keep control over the cost!
ICT circle helps to keep reports about your inventory, which helps you understand which stocks are doing well and which are just taking up the space. Lack of the right inventory management can mean backorders and excess inventory which can drive up the costs.
Late deliveries due to lack of stock are bound to give your business a bad reputation. It is important for you to know when the vendor is shipping the inventory and when it will be delivered. With ICT circle’s inventory management these tasks just become easy.
- Planning and forecasting!
The ICT circle’s platform can help you improve the forecasting of demand by analyzing all the data trends from well-performing stocks. Which minimizes all holding and handling costs, improves the overall revenues, and frees up the cash flows.
- Reduce time-Increase productivity!
With ICT circle’s good inventory management solutions, your business can reduce the time taken to keep track of all the products you have on hand and on those which are on order. So, you save the time taken up in inventory recounts if the records are well-maintained.
For more details about the ICT circle, visit-