In today’s economy, it is essential for your products to be visible and available online. Consumers prefer placing orders online due to the convenience of saving time and having products easily shipped to where they are needed. So having an online store should be the top priority for any business owner, including those from the manufacturing industry. Of course, running an online store comes with a unique set of challenges, which are even more complex if you are manufacturing your own products. Not only do you need to make sure you have products in stock to meet customer orders but you also need to manage your inventory and raw materials so you can keep your manufacturing line running.
The good news is that there are tools out there designed to help you manage your inventory. You might be running your online store on a WooCommerce website and are wondering what are best practices around managing your inventory. In this article, we will focus on some of the key advantages of making use of WooCommerce inventory software.
Control your inventory in real time
When you’re manufacturing your products and selling them online, you need to have a real-time, tight grip on your inventory. You can’t afford running out of items in your store or having delays in your production processes, since you will end up with unhappy customers. So you should be looking for a software solution that updates your stock based on real-time orders, allowing you full visibility and around-the-clock availability. Furthermore, if you’re selling and shipping on different channels, then that should be accounted for as well, eliminating the need for manual coordination.
Save money
When you are in control of your inventory, you can also optimise your costs by making informed business decisions. You can save money on materials by buying only what you need and doing so at the most convenient time. When you know exactly what you need, you don’t need to rush and pay extra for raw materials. You can also avoid producing items that are not in demand and maximise production for those products that consumers want to buy. So you will likely not only save money, but actually increase profits when making use of inventory management software for your business and WooCommerce website.
Reduce waste
This benefit essentially cascades from the one we’ve just outlined. In an age when taking care of our planet is essential, you don’t want to end up with materials and products no one needs. On the contrary, your business should be as lean and eco-friendly as possible by focusing on reducing waste. Having control of your inventory and orders means you can avoid surpluses that might end needing to be disposed of, thereby compressing maintenance and storage costs.
Reduce stress and pressure
We can’t stress this one enough, but when running a business you want to avoid stressful situations as they can take a toll on your mental health or on the well-being of your most improtant resource: your staff. But when you are in control of your inventory, know you are saving money, reduce waste, and maximise your profits, you can also avoid feeling the pressure of unfulfilled orders and unhappy customers. Tech advances are aimed at making life easier so your focus can be on where your business needs it the most, and where you can bring maximum value.
Allow your business to grow
Business growth is often in the mind of any business owner but it always comes with challenges. If you are active in the manufacturing industry, then you need to be ready to honor more orders coming your way. That means coordinating all the moving pieces of the production process, selling and shipping. It’s easy to overpromise and then realise you are not ready to deliver, unless you make the decision of managing your inventory with the right software. Look for a provider that also provides integrations with accounting, shipping, and reporting tools in order to set your business up for success.
Now that we have summarised just some of the benefits of adopting WooCommerce inventory software, you can better understand why it is essential, no matter the size of your manufacturing business.
