Why is a Multi-channel inventory management software necessary for a small business

on November 10, 2020

How does a multi-channel inventory management system work? 

A multi-channel inventory management system makes it very efficient for small businesses usually selling their products via different selling channels such as physical storefronts, warehouses, websites, and marketplaces (eBay, Amazon, Walmart) to manage their inventory from a single source.

This allows business owners to sell a product at different marketplaces without actually having to dedicate separate inventories for every marketplace.

However, this system is not only limited to online retailers but sellers having brick-and-mortar stores can also make use of the multi-channel inventory software to manage their inventories coming from multiple different suppliers.

Instead of updating and managing each marketplace separately, you can now use the ERP Gold Multi Channel Inventory Management Software to focus on your brand building while you leave your inventory management solutions to us.

How a multi-channel inventory management software helps with business processes:

Imagine handling inventory from multiple sales channels manually, this task would require a lot of tabulations on spreadsheets hence increasing the chance of errors in calculations or stock-keeping due to manual information entries. In a business, such errors can lead to huge mismanagement and miscalculations which can do irreversible damages to the company such as a bad reputation. Therefore, a multi-channel inventory management system would allow you to significantly decrease any chances of error that may occur.

A huge benefit of employing multi-channel inventory management software is the ability to integrate the sales and inventory data. You do not have to dedicate a quantity of an item for a specific channel, once sold on one channel/marketplace ERP Gold will update the other marketplaces with the reduced quantity.

Who can use our Multichannel inventory management System?

Businesses involved in selling products using different selling channels e.g.

  • Amazon
  • eBay
  • Walmart
  • Wish
  • Houzz
  • Facebook

People using the following E-commerce channels:

  • Magento
  • Woo Commerce
  • Shopify
  • NopCommerce

People using the following shipping channels:

  • FedEx
  • USPS
  • UPS
  • Canada Post
  • Shippo
  • Shipstation
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How An ERP System Can Reduce Your Lead Time In Multi Channel Selling

on October 21, 2019

Rising competition and thin margins are forcing small businesses involved in multi-channel selling to better equip themselves with efficient Best Multi Channel Inventory Management Software. Multi-channel selling involves platforms like eBay, Amazon, Shopify, and countless other online stores. A good start to achieving inventory management efficiency is by managing lead time.

Lead Time In Best Multi Channel Inventory Management Software

What Is The Lead Time?

Lead time is defined as the amount of time it takes for any process to complete. In a typical business, there are multiple lead times involved from the point of initiation to the point of consumption for any product or service.

Let’s take the example of ordering raw materials, depending on how far your supplier is, the time it takes for the material to be delivered can be considered as the delivery lead time. So, if it is delivered in 3 days, then we can say that the lead time for delivery is 3 days.

Lead time can be tracked for many more processes as well, like, lead time for taking orders, communicating with suppliers, or even the time it takes to share data within your organization. It is therefore vital for any business to optimize its lead times as much as possible to increase operational efficiency.

What is an ERP?

The Enterprise Resource Planning system makes it easier to get an overview of your entire business through a single portal. It contains all the necessary information like the supplier data, inventory levels, current orders, deliveries, and financials etc. It functions as a centralized hub, everything from pricing, logistics, and sales to customer details and feedback are all linked to one system.

How The Best Multi Channel Inventory Management Software Can Reduce Your Lead Time

Here are some of the ways by which a small business can reduce its lead time.

I – Efficient Order Management

Small routine tasks can take up a lot of time when handling orders in repetition. In addition to that, human error also becomes more common. When taking orders, entering customer data can be troublesome, especially when you are dealing with large volumes, even a slight error in typing the address or quantity can result in huge losses and customer dissatisfaction. To overcome this, ERP systems help make the routine task of taking orders simplified by reducing the number of steps involved, in most cases the customer data will already be stored into the system and can be retrieved easily. Furthermore, the orders once fed into the system can update inventory levels through barcode or QR code scanning, this will almost eliminate the need for routine stock audits.

II – Collaboration With Suppliers

ERP systems make it easier to visualize the state of your entire business, and most importantly your inventory levels. An efficient ERP system updates the position of stock levels instantly when a sale is made. This helps in high accuracy assessment of demand which can be shared with suppliers. The suppliers can then fulfill stock replenishment requests according the demand forecasts shared by the business. As a result, the business will be minimizing any delays in delivery from the supplier’s side.

III – Cross-platform Synchronization

Within an ERP, all online marketplaces are integrated on your system. This means that you do not have to keep track of sales orders and customer data on each individual platform. Everything is being shared to a single point-of-contact, which makes operations cost effective and less time consuming because manually tracking orders on each website is not needed.

How ERP Gold’s Inventory Management Solution can help Multi-Channel Sellers

ERP Gold provides small multi-channel businesses a cloud-based ERP solution that is specifically designed to fulfill their needs.

Best Multi Channel Inventory Management Software offers the following benefits:

  • Cross-Platform Integration: Connect to online marketplaces and E-commerce platforms instantly
  • Faster & Easier Data Syndication: Minimize the need for manual data entry
  • Customized Reports: Generate reports for each product listing separately with customizable datasets.
  • Data Integration: Eliminate data duplication and redundancy by syncing everything on one platform
  • Cloud-Based: ERP Gold Best Multi Channel Inventory Management Software works on the SaaS (Software As A Service) architecture which allows data access through the web through an SSL secure connection.
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5 Key Reasons Why a Cell Phone Wholesaler Would Need an IMEI Tracking Inventory Management Software

on October 19, 2019

Cell phone wholesalers and retailers run a unique business process that is heavily reliant on best inventory management practices. They often require serial number inventory management software for your entire stock inventory control by serial number. We’ve already covered why small businesses need an ERP software in the past, but now we’ll be focusing on smartphone/ cellphone businesses in particular.

IMEI Tracking Software

Streamlining of Processes

A cell phone wholesaler may import huge quantities of phones which can even be containers full. These lots need to go through entire processes of sorting, testing, and grading of each phone. This is a time-consuming process which requires streamlining tasks of each department so that they can work efficiently without errors or bottlenecks.

Serial Number Inventory Management Software

Inventory tracking involves a lot of data input, especially of the 15-digit IMEI numbers. Maintaining IMEI numbers is important to ensure safety and security. Imagine the hurdles an individual may face if they were to manually track item codes against each IMEI number, and then having to reconcile them against purchase orders. It sure leaves a huge space open for mistakes to occur.

Easy Barcode Scanning

An ERP system will make data input easier through barcode scanning. Manually entering IMEI numbers will make sure that the correct number is added without duplication or errors.

Efficient Collaboration with Suppliers

Create customized processes and categories for grading phones. During the testing phase, you can easily generate reports and print them directly from the software so that they can be attached to the phone and sent forward to retailers or sent back for repairs.

Faster Purchase Order Synchronization

Make purchase order reports directly from the ERP system to forward to your suppliers, and reconcile IMEI numbers of the received phones through barcode scanning.

ERP Gold’s Serial Number Inventory Management Software has been specially designed to help cell phone wholesalers and retailers in managing their inventory. It offers a quick customizable inventory system, cellphone repair ticketing system, in addition to that, it also allows multi-channel integration with online selling platforms.

Some more features of our IMEI Inventory Management Solution are:

  • Cloud-Based Software
  • IMEI Tracking & Labelling
  • Repaired Devices Tracking
  • Purchase Order Generation
  • Barcode Scanning
  • Customized Report Generation
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Admin5 Key Reasons Why a Cell Phone Wholesaler Would Need an IMEI Tracking Inventory Management Software

Why Keeping Track of IMEI/ESN Numbers Is Necessary In The Cell Phone Industry

on October 17, 2019

The IMEI (International Mobile Equipment Identity) or ESN (Electronic Serial Number) are unique codes used for identifying specific handsets. They are unique to each device and are important for tracking and security. However, a cell phone wholesaler or retailer has many reasons for which they should keep track of all the IMEIs in their stock. ERP Gold makes it easier to carry out various functions to benefit businesses in the cell phone industry.

IMEI Tracking Software

Physical Order Verification

Add list of IMEIs to the system received from the vendor in bulk. Scan the phones through the barcode to verify if the correct phones have been received. Once each phone is scanned, its IMEI is added and cross-checked with the existing list so that no item is lost.

Faster Recall

If the information on each handset has been stored effectively, it will become easier to recall stock from retailers and send back to suppliers. Because the IMEI can be searched easily, it will make it far more efficient to identify particular phones from a lot or batch.

IMEI Tracking Software Helps in Mobile Repairing

Through the IMEI numbers, phones can be categorized into batches by similarity in model or defects. Once the phones have been repaired, they can be shifted to an entirely separate stock of refurbished phones in the system.

Serialized Inventory Tracking

Tracking inventory through IMEI tracking software provides serialized numbers which can increase the precision of inventory management. When wholesalers receive the list of IMEIs from their supplier, they already have the data synchronized across different entities. So, when phones are divided into various batches from the lots, they can easily be tracked and organized without having to create a new tracking system.

Easier Cell Phone Distribution

Mobile phone devices of the same model look very similar and can only be differentiated by the unique IMEI numbers. Hence, it makes it easier to distribute phones because information about the customer is being recorded against their purchased IMEIs. In cases of security of compliance requirements, reports can be generated for sale of each phone along with their IMEIs.

Conclusion

IMEI tracking Software is not only important from a compliance perspective, but also to provide better value to customers and strengthening internal control processes. ERP Gold has all the features necessary for serialization of inventory management. It is an all-in-one ERP software for cell phone repair, cell phone distribution, cell phone IMEI tracking, and cell phone inventory management.  It has multiple features for both wholesalers and retailers that allow them to reduce errors and losses while maximizing workflow through efficient organization of inventory.

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Why ERP Gold is the Best Cell Phone Inventory Management Software

on October 17, 2019

Like challenges in all industries, the cell phone wholesale and trade industry also has its unique problems. Even in today’s day and age, many businesses are operating on completely manual processes for handling orders, inventory, and deliveries.

Cell Phone Sales Are Growing!

By 2020, it is reported that there will be 6 billion mobile phones in circulation. This is a huge amount, and it is going to grow even more year-on-year.

Cell phone traders play a big role in making handsets more accessible through low-prices. But because of the surge in demand, they need to deploy solutions that can help them run their business efficiently. And this is where ERP Gold is helping businesses make a difference!

Repair Ticketing System

ERP Gold helps businesses deploy a customizable repair ticketing system for managing huge batches of received phones. Because not all phones received by a trader may be in the best condition, they need to be categorized and sent for repairs accordingly. The repair ticketing software module on ERP Gold does that for you.

Stock Inventory Control By Serial Number (IMEI/ESN)

In order to make a system that can efficiently track every piece/item within the inventory, there needs to be a unique serial number. In the case of cell phones, there exists IMEI/ESN numbers. ERP Gold helps traders synchronize the IMEIs sent by vendors in the Purchase Order with the actual inventory that is received. This reduces errors and makes sure no item is lost.

Furthermore, it allows you to:

  • Evaluate the value of available inventory
  • Manage stock reorders
  • Know which phones tying-up money in the inventory
  • Find out what kind of repair parts are required and in what quantity
  • Categorize by condition and much more.

Cell Phone POS Software

ERP Gold is a complete solution for cell phone retailers. It tracks sales records, while managing the cost incurred on not just acquiring the phone but the repairs as well. This results in more accurate calculation of margins which is useful if you want to make strategic decisions. For example, you might be spending too much money on certain repairs that are hurting your overall profit margins. It even lets you keep track of your customer and maintain an organized record of your entire sales which you can also export as an excel file.

Conclusion

ERP Gold’s Serialized Inventory Management software for cell phone wholesalers, retailers, and traders is an industry leading solution. Bulk buying of mobile devices can be made much less hectic, so that devices can be ordered, repaired, and easily distributed.

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