The best-in-class wholesale software makes it possible to manage real-time inventory. This is what separates the local distributor, wholesaler, or novice from the global wholesaler. Companies that integrate real-time inventory into product pages can make it a differentiator for customers.
You might be interested in a large order for an SKU that is almost out of stock. While you may be eager to sell the product, your buyer might have a deadline they must meet to get all of the product to their customer. You can use business to business online stores, with inventory built-in to keep track.
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You can save the buyer the hassle of calling your customer service department or canceling an order if your inventory is not available. You don't have an inventory management excel template to do this for you.
Strong inventory management strategies not only make it easy to communicate with your customers about what stock you have but also keep you from running out of popular-selling products. It also prevents you from overordering a product and cash-strapping your business.
Set inventory alerts for seasonal products to be notified when inventory falls to 50% of what you need to keep so you have ample time to place orders from vendors and get into your warehouse before the selling rush.
You should allow yourself plenty of time in case your usual supplier runs out of stock due to uncontrollable circumstances, such as a heatwave that increases sales of commercial fans.