If you own and operate a small to medium sized business and sell both online and have a storefront then you hopefully are aware of the need to understand what you have on hand at all times. Businesses can lose money if they have to much stock on hand and their carrying costs are high, or they run out of a popular seller which results in lost sales and customers. Having a inventory management software solution that will help tell you when to order and what items are selling faster can help your bottom line. With the fluctuation in the consumer market what is hot today may be old news tomorrow and managing that inventory can be critical to ensuring your long term success. Solutions from companies like OrderWise incorporate several layers of analytic’s to help you understand which items are selling and what time of year they are in most demand. Knowing this information can help you plan for 6 months out and prepare for a great holiday season or start getting rid of items that may be starting to slow down.
Posted on 7th October 2015 by Jeff Rogers in Technology
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