Why is inventory management important?

Published on 07 June 2023
1 min read
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One of the major challenges faced by the store owners while managing their online stores comes in the form of inventory management. When a person runs a business on two platforms parallely, managing and keeping an eye on the inventory.

A mere promotional event and discount coupons may attract a few customers. However, it is very hard to retain customers if the product which brought traffic to your website is out of stock.

Often this task appears demanding since it increases dependency of the store owners on different platforms. However, don’t you think it’s going to be an easy job if this particular problem is addressed ? 

Many platforms like Miski provide its vendors with an effective platform to manage inventory easily and effectively.

Having a clear idea of the products and quantity of each product in the inventory can make the life of a store owner easy. The platform not only allows the vendor to keep a track of the products and the quantity of each product remaining, but also helps him to group a specific product on the basis of category, size, color and brand thus giving an exact picture to the vendor thus helping him manage the inventory better. It is also to be taken into consideration that just like a vacant shelf depletes the image of the store, similarly products that are out of stock can hamper the image of the online store. Also, it is not very convenient as an option to take a single product out of the online store and replace it once the stock arrives. Speaking of the garments and apparel stores, maintaining the same stock is not an easy task whatsoever.  It again raises a demand for a platform which solves this issue and makes the same easy. Misiki again as a platform proves itself effective by providing a solution to this particular issue. It requires the vendors to spare time for just two clicks. Just a single click is needed to get the product offline once it goes out of stock and replace it on the website once the fresh stock arises. Inventory management is important without a doubt and is a must as well. Having a faint idea of the inventory can prove harmful for the business. Customers want to visit a store where they feel their required product would be available at all times. Once they find the product not available in a particular store, they don’t mind switching to a different store for there are thousands of online stores. An effectively managed inventory not only ensures customer retention, but also ensures an edge over the competition in the market.