Magento Inventory Management_ Use Cases of Multi-Location Warehouses

Magento​ ​Inventory​ ​Management:​ ​Use
Cases​ ​of​ ​Multi-Location​ ​Warehouses
All ecommerce business strive for achieving notable success. Online
businesses that achieves this goal often segregate their activities and end
up having various web stores and warehouses serving a large number of
customers in various locations. Shockingly, many business owners fail to
notice an important part of their business: tracking and recording their
inventory. Did you know this common mistake cost retailers a staggering
$1.75 trillion dollars annually?(​http://acctivate.com​) Without an
accurate view of inventory levels and multi-location support, your
business is at risk for stock-outs, unnecessary holding costs, overselling,
and​ ​potential​ ​overstocking.
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Why​ ​Efficient​ ​Inventory​ ​Management​ ​is​ ​Essential
Expansion in the number of warehouses adds supplementary costs such
as workforce and ​Inventory management​, maintenance and other
related expenses. But there are can be several reasons for businesses to
have numerous warehouses at a single instance. Sellers may obtain
orders from various parts of the country or even from other continents.
Web store managers can ensure quick shipment of goods by arranging
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the delivery from the nearest warehouse. Considering the presence of
international shoppers, it’s a profitable idea to have warehouses in more
than one country to subtract extra shipping charges and lessen the
delivery​ ​time.
Inventory management may be a puzzling thought for new
establishments, but business growth imposes extra demands on these
activities. Hence, established businesses may find themselves in a tight
spot when it comes to efficient inventory management. That’s why
paying attention to inventory management from early stages of
development is an absolute must for those businesses that aspire to
become​ ​big.
Magento Warehouse Management With Multi-Location
Inventory
Ecommerce business owners that use a default Magento configuration
often fail to proficiently operate inventory in their store. Thus,
Multi-Location Inventory, an extension for Magento that completely
solves​ ​problems​ ​of​ ​Magento​ ​warehouse​ ​management​.
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Common​ ​Use​ ​Cases:
Managing​ ​Multiple​ ​Warehouses​ ​In​ ​Different​ ​Countries
Web store targeting shoppers in different countries generally establish
their warehouses not too far from the local sites. Though, the default
Magento doesn’t let store managers monitor stock levels accurately.
Customize extension can aid you efficiently organize inventories from a
single​ ​location​ ​by​ ​creating​ ​separate​ ​inventories​ ​for​ ​each​ ​location.
Multi-Location Inventory can be utilized for other purposes, as well. For
example, you can keep your fingers on the pulse of seasonal trends in
demand in each country, since by keeping track of stock levels.
Moreover, you can find out customer preferences and their changes in
each season. You can necessarily take advantage of this data while
optimizing inventory levels at your warehouses, thus reducing your
storage​ ​cost.
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Working​ ​With​ ​International​ ​Customers
Let us assume that you have two online stores catering customers in
three countries (Spain, United States and Canada) and you own two
warehouses. One of these warehouses is in Spain and another one is in
United States. What would you do to ensure timely delivery? It’s viable
to source Spanish clients with goods stored in the Spanish warehouse,
and ship goods from the United States warehouse to American and
Canadian​ ​clients.
Use Magento extension to make inventories distinct on a website level
by developing three websites and splitting one of them into two store
views with a common inventory. Hence, you’ll be able to manage each
inventory separately. Additionally, advance ​Magento inventory
management​ ​can​ ​help​ ​you​ ​to​ ​perform​ ​up-to​ ​date​ ​inventory​ ​tracking.
● Providing Customers From Different Websites With The
Product​ ​From​ ​The​ ​Same​ ​Warehouse
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Several products are not popular and customers rarely buy them.
But it doesn’t means that web store owners have to stop selling
these items. They can store them in one location and ship these
products​ ​as​ ​soon​ ​as​ ​someone​ ​orders​ ​them.
Opt for multi-location inventory tool to place items in a so-called
default stock and manage their inventory as a whole. In such
scenarios for a specific product it can allow to set warehouse level,
minimum quantity for warehouse in and default warehouse - which
will be considered to be the primary warehouse for product
delivery.
● Simultaneous Update Of Inventory Attributes On All
Devices
According to ​one research​, “By 2018, only 12% of respondents
expect to use pen and paper-based processes; 66% plan to use
handheld mobile computers with real-time access to WMS
systems”. From demands spurred by the rise of the on-demand
consumer and big data, to the growing presence of automation and
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mobility on the warehouse floor, it is expected that mobile will be a
key​ ​tool​ ​through​ ​which​ ​inventory​ ​management​ ​will​ ​be​ ​performed.
By using, ​Magento inventory extension you don’t have to bother
about maintaining your Magento store and mobile app separately.
All the modifications you make to your Magento store will be
automatically updated on your ​Magento inventory mobile app in
real time. This tool comes with barcode scanner support to update
stock​ ​inventory​ ​directly​ ​to​ ​warehouse​ ​through​ ​mobile.
Conclusion
The significance of efficient inventory management cannot be
underestimated. It is essential to regularly optimize stock levels,
maintain sales records and reduce operating costs in order to gain more
profits. The default Magento provides basic inventory management
capabilities and it doesn’t meet all the needs of bigger stores with
warehouses​ ​spread​ ​across​ ​different​ ​locations.
In order to compete in this fast changing e-commerce business, it is
essential to have advance Magento warehouse management. The tool
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which is easily compatible with your present e-commerce website, has
mobile operability, supports multi location, tracks accurate live sales
updates,​ ​supports​ ​customer​ ​and​ ​supplier​ ​management.
If you’re searching for a robust tool to accelerate, expand and improve
your Magento warehouse management processes, MageMob is ready to
offer​ ​you​ ​with​ ​one.​ ​We​ ​also​ ​support​ ​Magento​ ​2​ ​extension​.
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