OdooGap Blog / Get Inventory management software for your eCommerce business

Get Inventory management software for your eCommerce business


Too much product is hard to move. Too little and you lose customers.


Inventory Management

Inventory management is a must for businesses. They need to keep track of how much product they have in hand and how much they’ll need. But, it’s not as simple as subtracting the number of orders from stock. There’s a lot you have to take into account.


Excel is the go-to solution for people who are just starting. But, as the business grows it becomes more of a liability than a helpful solution. 43% of small business owners still track their inventory by hand, says a 2017 report. These kinds of manual systems lead to supply chain nightmares.

blog_46_webimage995odoogapimage205jpg

Odoo Inventory Dashboard

Inventory management software helps businesses handle their inventory, orders, routings, tracking and a lot more. Now you can make smarter decisions based on accurate information.

Inventory for eCommerce websites

In the online world, customers expect a product to be available at every step of the buying process. So, you need to make sure it remains available. A daily overview of your inventory will give you better control and help increase your business intelligence and visibility.


Order management and inventory are important parts of the supply chain process. Doing it well means you have the right quantities at the right time. You’re in control of how much product you have for sale and of your order cycles. This is fundamental if your business is scaling fast.


You need to follow inventory best practices to make sure you don’t have any surprises.

blog_46_webimage997odoogapimage206jpg

Odoo Inventory Tracking


How does inventory benefit my business?

Inventory is a real-time evaluation of revenue your company is generating. If you can’t move a product from inventory, it’s clear your business is struggling to make sales. You have to adjust your operations or you won’t have bottom-line revenue.


Some businesses have to move products much quicker than others due to the shelf-life of the products they sell. Too much inventory will add to expenses and ruined products. Not enough, and you’re at risk of losing potential sales and overall market share.


The best way to order stock that sells is to have inventory management software. It makes calculations for you and is not susceptible to human error.


If your business provides physical products, inventory management is a must. Your goods are recorded and catalogued, whether they're finished products or raw materials. For ecommerce, it’s usually the former. They have products ready to be sold. This also includes parts of a product to be assembled. You need to count the separate parts in relation to the finished product.

blog_46_webimage999odoogapimage207jpg

Odoo Inventory Product list

You need the right amount of stock on hand at all times. Customers will buy elsewhere if you’re out of stock. When making your inventory order, your supplier may offer a special deal if you order large quantities. But, is it worth it in the end?


If you order too much, it’ll be hard to move. It’s a lot worse if you sell perishable goods.


Some business owners rely on qualitative forecast methods. Past performance and gut-feel to reorder and order inventory. Others, on quantitative methods such as how products performed in the past with accurate data.


Besides a look at how products are performing, inventory management has other benefits for ecommerce :

Manage order increases without overselling current stock


Product information is always updated


Decision makers have control over multi channel order flow


Improved back-end visibility for inventory management


Data is synchronized across all platforms in real-time


Increased visibility improves product organization


Businesses don’t risk running out of stock


Improve sales by knowing what you can and can’t sell at any given time


Inventory is valued and counted to see the company’s profits and losses


Inventory Software

There are a lot of solutions for inventory management to integrate with yourecommerce website. All you have to do is to choose which one is a better fit for your business.


Odoo has its own inventory app. You only have to install it, no need for integrations.

Odoo Inventory


The Odoo Inventory app is integrated with other Odoo apps. All your data issynchronised and updated in real-time.

blog_46_webimage1001odoogapimage208jpg

Check on how your business is doing on your smartphone or other mobile devices.

Order more products right away. You don’t have to be glued to your computer all day.

Odoo Reorder form

Track every stock move, trace purchases. Analyse real-time reports to make better and smarter decisions.

blog_46_webimage1003odoogapimage209jpg

Odoo Inventory Report


Features


Clean and fast


Double entry Inventory

Mobile

Corrected posted transactions

Flexible

Modern User Interface


Basic Operations


Delivery orders

Receipts

Inventory adjustments

Packing Multiple locations

Scrap products

Manufacturing, Repairs

Stock transfers


Advanced Routing


Drop-shipping

Cross-docking

Put away & Removal strategies

Pick - Pack - Ship

Push & Pull routes

Multi-warehouses


Productivity


Barcode Scanners

Smart Scheduler

Customer portal

Powerful search

Custom alerts


Replenishment


Minimum stock

Make-to-Order

Request for Quotations


Traceability


Activity log

Serial numbers tracking

Perpetual Valuation


Products


Product types

Custom fields

Expiration dates

Multiple units of measures

Multiple barcodes


Inventory Valuation


Costing methods

Valuation methods

Landed costs

Perpetual inventory valuation


Reporting


Dashboard

Inventory Forecast