As we’ve previously discussed, nailing inventory management is critical to keeping up with the explosive growth of the eCommerce market and providing an exceptional customer experience – yet it remains one of the biggest blind spots for businesses.
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So, what gives? The reality is that many key decision-makers simply don’t know where to start. With that in mind, we’ve pinpointed the three pillars you should be focusing on to get your inventory management game down pat.
You’re probably sitting on a mountain of data about your customers, sales, and stock, but it’s what you do with it that matters. To truly transform your business and join the ranks of the world’s fastest growing businesses, you must have the inventory visibility necessary to trust your inventory quantities and locations.
With real-time, quality data at your fingertips, you can make smarter data informed decisions about ordering, warehousing, sales channels, and more – and you can do it all with the speed needed to stay competitive in a constantly evolving market.
Case study: Philippe V
Philippe Vergez and Thierry Halbroth, founders of luxury eyewear and accessories brand Philippe V, were looking for a robust inventory management system with the capability to monitor product performance despite the company’s long production lead times.
Moving to TradeGecko empowered Philippe V’s distributors to check stock levels, place orders, and track promotions in real-time using the B2B eCommerce platform. With more than 20 sales reps in Asia, North America, and Europe working with Philippe V, TradeGecko’s cloud-based functionality and mobile app means everyone has access to up-to-date information no matter where they are.
For Vergez, TradeGecko’s real-time reporting abilities makes it easy to get a daily overview of company performance with the click of a button:
What is great about TradeGecko is that every morning I can see which reps have taken an order and which clients have used the B2B platform to place a reorder, and I can measure the performance of the company on a daily basis.”
An inventory management system should make life easier, not harder. To transform your business from start-up to scale-up, it’s crucial to choose the appropriate tools that enable streamlined and centralized workflows.
With the right system in tow, you’ll have access to the insights necessary to make smarter, more profitable decisions on the fly.
Case study: TheGroomedManCo.
TheGroomedManCo. founder Daniel Mahony started the business after discovering the joys of beard oil while travelling overseas. What followed was a growing range of popular men’s grooming products and increasingly complex inventory management requirements that made it difficult to forecast stock levels and manage cash flow.
After exploring a few options, Mahony found TradeGecko’s UI to be the most intuitive and easy to use. He liked the fact that it enabled him to manage all his orders from a single location, and found that optimizing his inventory control processes led to significant uplift for the business:
TradeGecko has really streamlined the wholesale ordering process for us – we’ve grown 325% over the last year. I love the fact that it’s so easy to use – it’s simple, it’s quick, and it helps us manage the entire wholesale process.”
Automating many of your tedious and manual day-to-day inventory management tasks not only allows you to focus on higher value tasks, it also positions you to offer an expedited and superior customer experience.
When outlining your inventory management strategy, it’s essential to choose a system that can integrate multiple links in your supply chain – from pure stock control to shipping, eCommerce, logistics, accounting, and beyond. The aim is to integrate and automate as many of your supply chain components as possible to improve accuracy, speed, and cost efficiencies.
Case study: Dirty Knees Soap Co
Dirty Knees Soap Co. is an eco-conscious skincare brand specializing in quality handcrafted soaps, lotions and body care products made with minimal ingredients. After receiving a large wholesale order from a national chain, founder Heidi Danos needed a solution to automate the business’s order and inventory management process. That’s when she decided to integrate her entire inventory workflow in TradeGecko:
We are currently integrated with Shopify for eCommerce, Xero for accounting and ShipStation to manage all of our shipping needs. Once these platforms were integrated with TradeGecko, I input my first wholesale order and had a eureka moment. For the first time, I could see and track my entire inventory workflow. I can't believe I didn't do this sooner... it’s pretty freakin' awesome!
When you think big, you grow big. TradeGecko will save you time, prevent a lot of mistakes, and is totally worth it!
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