First of all, controlling the stock of your virtual store depends on a lot of dedication and maturity in carrying out processes. The management requires attention, and some steps and tools like having an online receipt (ใบเสร็จ รับ เงิน ออนไลน์ which is the term in Thai) can help you further increase your e-commerce. We list below 5 tips that will help you with this purpose with that in mind.
01. Plan The Methodology
We mentioned earlier some methodologies and concepts used in inventory management. Decide which method your Virtual store will use according to the reality of your e-commerce. That is size, sales volume, available employees. Once this is understood, the next step will be to determine whether the inventory check will be done in real-time – scheduling replenishment according to the stock status – or cyclically – from time to time.
02. Establish Metrics
Establishing metrics, it’s the most efficient way to ensure the success of a business – whether it’s a physical store or e-commerce. Based on the information collected, strategies can be applied and analyzed, improving business performance. Such indicators, in turn, help in actions such as creating promotions and product pricing. A metric that needs to be on the radar is the time of the purchase process and the receipt of products.
The average consumption and inventory coverage are also fundamental examples of interesting indicators. The quantity of goods purchased in a period; and time to replenish stock are measured.
03. Find Good Suppliers
Whether raw material or products for resale, finding suitable suppliers can save you a lot of headaches when controlling the stock of an online store. Therefore, seek references and create a good relationship with suppliers. And in addition to the speed of delivery, it is also important to value quality. Get to know the origin of the goods and how your supplier works. Also, have a saved list of contacts, so you don’t have to be on hand when you need supplies, thus avoiding losing sales.
04. Align Financial Management With Inventory Management
The management of your stock entries and exits is crucial for the financial performance of your online store. In this sense, seek to align the management of these processes so that both are carried out with full efficiency and complete each other. Try to get a free stock inventory app (โปรแกรมสต๊อกสินค้า ฟรี which is the term in Thai)
In other words: by controlling the stock of your Virtual store with quality likely, your financial management will also become clearer and more organized.
05. Count On The Support Of The Innovation
Finally, a good tip is to seek the support of innovation when you want to optimize the control of your stock. The good news is that today there are already a number of free tools that can help you control the stock of your virtual store and other management processes.