The Benefits of Real-Time Inventory Tracking for E-commerce Businesses

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Real-time inventory tracking for e-commerce businesses could upgrade your company to a new class. Companies like Amazon use real-time statistics to adjust their current sales and marketing strategies. Having up-to-the-second information provides them with a competitive edge. The same techniques are still effective even if your company isn’t close to Amazon in size. Real-time inventory tracking provides data on current sales trends, which can be used to project future demand. Why would you use anything else? Here’s more about the benefits of real-time inventory tracking for e-commerce businesses.

The Benefits of Real-Time Inventory Tracking for E-commerce Businesses

Real-Time Inventory Tracking

What is real-time inventory tracking? This system provides you with updated inventory information and statistics that tell you where your stock is going. The pace of business has significantly increased with the advent of the internet, requiring tools that can keep up.

Sales can fluctuate drastically within minutes. Or, a specific demographic might change and purchase more of a particular product. Maintaining accurate inventory levels helps you to:

  • Meet customer demands
  • Minimize stockouts and overstocking
  • Improve customer satisfaction
  • Improve efficiency
  • Reduce waste

Updated real-time inventory management software upgrades your e-commerce business to professional-grade inventory tracking. With real-time insight, you will know everything about your business simultaneously.

The best thing about real-time inventory tracking is that most calculations are done automatically. Users only have to input what they’d like to see—optimizing your supply chain results in reduced costs, improved customer service, and a competitive advantage.

Important Data About Customer Demographics

Spreadsheets were a revolution when first introduced to offices: suddenly, calculations were quicker, and you could get through a meeting in minutes instead of needing a day’s preparation.

Real-time inventory tracking is where spreadsheets are headed. Instead of manual inventory counts and keeping track on paper (or files), inventory tracking software automatically calculates essential statistics about your sales and customers. Advanced customer data is a significant advantage these days.

With real-time inventory data, you can see who is buying (and who isn’t). Real-time statistics mean that you have an immediate way to refine your strategy.

Real-Time Inventory Tracking Details Stock and Availability

Inventory tracking provides businesses with specific details about stock and availability. Your e-commerce business will know exactly what is being sold. You will also see how much to adjust your next products.

Professional companies always know where their stock is headed, which is the advantage any e-commerce company should have.

Most companies aren’t ready for “viral fame” or investment because they wouldn’t be able to handle the workload if it happens. Real-time stock tracking puts you in direct control.

Faster Order Fulfillment Time for Customers

Real-time product tracking supports faster order fulfillment by ensuring accurate inventory management. Customers expect to receive their orders quickly. Real-time inventory systems can integrate with shipping and invoicing tools to streamline order fulfillment.

Imagine that you had to ship 10,000 orders tomorrow morning. Would your company be able to keep track and still get orders out on time?

If the answer was anything close to no, then you might immediately see the advantage of real-time inventory and order tracking. By streamlining inventory, you can improve operational efficiency, ensure accurate tracking of inventory in real time, and avoid stockouts. A key aspect of this is accurate demand forecasting to meet demands.

See Products Moving in Real-Time

An e-commerce company can see its products moving around the place. It’s an advantage because you’ll know when something hasn’t left the floor — and you’ll know the moment something has been sold or shipped.

Courier and e-commerce companies should always be able to provide accurate information about where a product is at any point in time. Without real-time tracking, this is an impossible feat.

Real-Time Inventory Tracking Gives Accurate Future Sales Predictions

Inventory tracking also provides users (and e-commerce companies) with accurate future sales predictions. This is a potentially significant advantage, which might allow your e-commerce company to anticipate any time there might be a sales rush.

Accurate future sales predictions can be a compass that steers your business in the right direction, even when the economy is unsure. Never be caught unprepared for a sales rush in e-commerce!

MAI Fulfillment | 3PL Warehouse Chicago, Illinois

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Established in 1981, MAI is a privately-held 3PL company in Chicago specializing in warehousing, fulfillment, and omnichannel contact services. As an experienced outsourced provider, we provide value-added solutions designed to help companies build and maintain relationships with their customers.

The MAI business model offers clients the efficiency and convenience of dealing with a single accountable resource for a wide range of services. MAI areas of specialization include:

  • Custom B2B and B2C warehouse/fulfillment solutions
  • Omni-channel contact center services
  • Technology support

A wide range of service offerings, strategic problem-solving skills, and experience make MAI a valued partner to a broad range of Fortune 500 companies. “Quality” is more than just a word here – it’s the foundation of how we conduct business and an integral part of the processes and metrics we use to deliver value to our clients every day.

Contact MAI today to learn more!

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