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E-store Owner’s Guide To Selecting The Right Magento Inventory Management Extension
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Migrating your business on Magento platform does take a lot of stress away as you no longer have to maintain your brick and mortar store or worry about the number of visitors that visit your store. Yet, you still need to handle the inventory and warehouse management processes. “Being properly prepared is one of the biggest assets in business.” – says Keeth Smart, one of the most popular American Athletes. The question is, do you? If your answer is yes, mull over the following questions and rethink.
1. Do you have the system that calculates safety stock levels every 6 months?
2. Do you know how often you might have to order new inventory products by keeping the current inventory expenses and account changes in mind?
3. Do you have a process in place that helps you find out the reasons behind the dumping of extra products in your warehouse and how to deal with it?
4. Can you apply effective inventory management practices on all aspects of your inventory? (not just finished goods)
5. How about the authorities that handle the inventory control decisions so that you can maintain cost-effective inventory levels?
There are chances that your answers to some of the above-mentioned questions might be in negation. Also, the default Magento Inventory Management system that is a part of Magento platform might not have some intricate inventory management tools/features that you might be looking for. And that’s why we are here to help. Take a look at this quick guide and find out how you can select the right Magento Inventory Extension for your e-store.
Inventory Management in Real-Time
You aren’t omnipotent. And you can’t update inventory levels every hour. If the Magento Inventory management software you use relies on the Admin to make manual updates, there’s no use having one. Also, if you do not update your stock with every purchase, you run the risk of claiming to sell products that are out of stock.
Imagine this – your customer receives an email saying that there will be a delay in delivery. It is sure to create a negative impression and bring you some negative reviews on social media. This is exactly why you would want an inventory management plugin that runs and makes updates in real time. Think about it…
Support and Monitoring
The companies that sell inventory extensions will help you to make integration and configuration with a lot of enthusiasm and willingness. After all, they’re making a good number of mullahs! But what about the glitches you face after integrating the extension? What if you are selling out of stock products as your system hasn’t received updates? Or what if you haven’t received the order as you had issues with your internet connection?
It is possible to address all the above problems and many more if the company selling these extensions provides the customers with 24/7 support and monitoring. As someone would be always monitoring your store, they would be ready to take action even if you are not monitoring your data. In case you feel there is no need of human monitoring, you can have a system in place that reports you or the company about the issues that come up.
How to Go About Choosing a Magento Inventory Extension?
The points that we mentioned above might be generic. Your business requirements might be more specific which is why you need to choose an extension according to your needs. Search in the market for Magento based Inventory Extensions, go through the features and you are sure to find your ideal solution!
Maulik Shah is the Founder and CEO of AppJetty, a fast growing software add-on store selling extensions and plugins for various technologies, including Odoo themes and odoo apps Magento 1 extensions and Magento 2 extensions. Maulik is a tech enthusiast and writes about the various aspects of ecommerce technology.
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