With surges in product demand, many businesses face the problem with stock availability. The expansion of operations is a positive thing but it is important for online businesses to ensure that they will meet expectations and overcome the challenges concerning stock availability.
Below are some of the most common stock availability challenges that many eCommerce stores face.
Common Challenges with Stock Availability
1. Monitoring Multiple Warehouses
Growing businesses may find the need to store their inventory in multiple warehouses to have different channels that can support the demands of their customers. While this is good, it also opens the difficulty for order tracking and inventory management. The possibility of not knowing how much stock is left or when it’s time to restock also sets in.
Failure to track your inventory and get an actual detail of your stocks pose the problem of stockouts. When this happens, there will be a delay in order fulfillment which may lead to order cancellations, loss of customer trust, and even bad feedback.
3. Overstocking and Overselling
Poor inventory management can also result in overselling and overstocking of products. This opens the tendency for stock distribution to be compromised. In overselling, the last stock of the products being sold may be sold to more than one customer which will affect customer experience. Overstocking on the other hand will lead to having too much of a product that is not selling well which will mean putting your money on the wrong products.
4. Reduced Manpower
Due to restrictions and safety protocols, manpower has been limited in certain industries. For eCommerce businesses that rely on human resources in the management and delivery of stocks, this is one challenge that can affect sales, order fulfillment, productivity, and customer satisfaction.
5. Customer Expectations
In any business, it is important to ensure that customers will be spared from bad experiences. Customer expectations must be met and a seamless order fulfillment process must be established. It is important to ensure that what is being offered on the website represents your actual stock availability in order to prevent disappointments.
Warehouse Management and Logistics Solutions to Address Your Business Challenges
More and more people rely on online shops for their needs and you can take advantage of the increasing demand without compromising your processes through effective warehouse management and logistics solutions.
Warehouse management will help you stay in charge of your stocks and ensure a smooth flow of goods from suppliers to consumers. It will allow you to easily track your inventory and gather important data that will help you put your products in order. With logistics management, you can ensure a seamless order fulfillment process. Transfer of goods will be swift to reach your customers and meet their expectations even when obstacles get in the way.
At the outset of your eCommerce business, it would be a smart move to take advantage of innovative solutions in addressing today’s challenges and meeting customer demands.
If you have an eCommerce business, you should take advantage of warehouse and logistics management solutions that can help prepare your business for increasing demand and prevent problems that may affect client satisfaction.
There’s too much at stake when customer expectations are not met. Fortunately, Worklink Services Incorporated offers reliable warehouse management and logistics services in the Philippines so you can be on top of your business processes.
Contact us today so we can work together in growing your business.