Inventory Management: How FBE Can Help Your Business Effectively Keep Track of Its Goods
There is a particularly harsh truth that is often overlooked in the business world: your customers’ loyalties are only as good as your inventory.
It is one thing to provide a modern consumer base with highly diversified products to warrant their repeat patronage, and another to ensure that the goods they have paid for exist in the first place.
The Global Marketplace
With ecommerce turning much of the world into a single giant global marketplace, business owners, like you, are required to be standing on your toes, constantly at the ready to maintain excellent customer satisfaction throughout the purchasing process from cart to checkout and delivery.
Unless your direct-to-consumer business is the purveyor of a wholly unique product that cannot be easily sourced elsewhere on the digital marketplace, it is your duty as a brand owner to ensure that your business provides the best consumer experience to retain their loyalties.
Poor Inventory Management
That being said, one of the biggest issues facing most expanding SMEs is having poor inventory management. To not mince words: poor inventory management is the bane of small businesses. It is one of the primary reasons as to why most SMEs either struggle to grow or ultimately fail.
Of course, this is not a problem solely faced by brand owners like yourself, for even giant conglomerates suffer from poor inventory management now and again. For instance, in 2013, Walmart reportedly lost a sum of $3 billion due to this exact issue. However, the difference between a large corporation facing poor inventory management and a modest business such as yours is that a company like Walmart will most likely financially recover from this setback. In contrast, the odds for an SME to bounce back are fairly small.
How Fulfillment by Everpeaks Can Help You With Inventory Management
Like you, we pride ourselves on being brand owners too. Hence, by becoming an FBE business with us, you will gain access to our user-friendly centralized cloud-based system to manage your inventory seamlessly. With FBE, your business will be kept up to date in real-time on the cloud, allowing you the ability to control, track, and fulfill orders across multiple ecommerce platforms.
No longer will a brand owner like you have to worry about coming face-to-face with the possibility of losing customers due to poor inventory management, which, as we have seen from the example of Walmart, can be a costly experience. This is because our cloud system will ensure that each and every product you list reflects the current number of units available in stock. Therefore, by partnering with us, your business will be taking a giant leap forward towards growing your brand and retaining your preexisting consumer base in the current digital marketplace without the complications of dealing with poor inventory management.
Want to learn more about how to become an FBE brand owner with us? Check out our other related articles, or visit our website at www.everpeaks.com to get in touch with one of our team of highly qualified experts.