3 Things to Consider While Choosing Magento Inventory Management Extension

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3 Things to Consider While Choosing Magento
Inventory Management Extension
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Are you running a Magento based ecommerce store?
If yes, you might have faced a situation wherein
you have disappointed your customers. And
thereafter, you had to send them an email saying
Your order is cancelled due to nonavailability
of stock.
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Well, one of the major reasons behind the
occurrence of such situation is poor inventory
management. A superior inventory management
process is imperative for running a successful
ecommerce business. Tying up your cash with more
stock or having too little inventory both these
scenarios can have a negative impact on your
business, customers, and finance. To overcome
stockin and stock out related problems in
Magento, you would need a Magento inventory
management extension. It is quite baffling to
choose the right inventory management extension
as there are several companies providing similar
Magento extensions. To help you get over these
confusions, we have come up with some pointers
that can help you make the right choice
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RealTime Inventory Management Facility Imagine
this scenario. You have 50 items in stock. And
suddenly shoppers start demanding that item in
large numbers. Now, before you put the items
real time stock update, customers order reaches
to 52. During such times, you might have to
apologize asking stating that there would be a
delay in fulfilling the order. Result? Customer
dissatisfaction. And before you know, this
latency leads you to financial losses.
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Having an inventory management system that
provides approximate inventory updates is not
enough. Neither a system that requires manual
updates. Therefore, you need to choose a Magento
inventory management system that offers real
time auto inventory data updates. While choosing
an extension, realtime updates facility is a
feature you must ask for. Without fail.
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Provision of Drop Shipping Facility What if you
could offload fulfillment of your customers
demands on supplier when you run out of stock?
Sounds like quite a business saver. Doesnt it?
If you get inventory management for Magento
store with a drop shipping facility, you can
make this possible. A drop shipping supplier
relationship comes to rescue at the point of
time you run out of stock. Wondering how falling
back on drop shipping can help you? Well, it
enables you to auto forward your incoming orders
to your widget supplier when you sold the last
widget in your stock. After the supplier
fulfills your customer demand, they can put the
status order back to your store. This way, drop
shipping, helps you to fulfill every order of
your customer and keep them happy with your
estore service.
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24 7 Inventory Management Monitoring Managing a
huge inventory is a tricky business. Things can
go wrong at any point of time resulting into
failure in delivery. Hence, you need a tool that
offers 24 7 inventory monitoring mechanism.
Search on the web and you will find several
Magento inventory management extensions that
offer a facility like this one.
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Also, you need to ensure that you keep
maintaining this software at regular intervals
through professionals so that there are no flaws
in the monitoring process. Remember, system
malfunctioning can lead to huge business losses
in a span of a night. And thereafter, you might
have to spend days to fix the problem. So, it is
better to go for an extension that does what it
says in a seamless manner. Conclusion You can
get rid of your stock in and out problems by
integrating the right inventory management
extension for your Magento store. Dont forget
to see to it your extension has the
abovementioned attributes so that you can
manage inventory in the best way possible.
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