Inventory management is one of the biggest pain points of the product suppliers. If the unsold inventory, overstocking, or mismatched stock and market demand emerge then it may cause the loss of money. Suppliers most of the time are not aware of the demanded products and which products have gone stagnant, resulting in waste investment and lower margins.
Agitation:
Without real-time visibility, it is not quite possible to plan inventory, most suppliers rely on guesswork, with effects such as:
Tie-up of valuable resources and storeroom space through excess stock
A missed opportunity to reap trends in products among customers.
Inefficient management, draining profits and affecting general businesses.
This creates a vicious circle of inefficiency where supplies chase demand, leaving more and more money on the table.
Solution:
eKomn’s Real-Time Analytics provides suppliers with actionable insights that can transform inventory management and drive better results. Here’s how:
Inventory Status:
eKomn allows suppliers to see when their products are being shortlisted by business buyers. This real-time visibility helps you:
Understand which products are gaining interest in the market.
Plan your inventory in advance to meet potential demand.
Avoid overstocking or understocking, ensuring smoother operations.
Case Study:
A seller of mobile accessories observed the peak in demand for fast chargers with the help of inventory insights from eKomn. The seller, therefore, replenished the stock for the high-in-demand product and did not miss a batch order.
Live Products:
The online business platform tracks active sales of your products by business buyers on eKomn at the product level. This insight will allow you to identify products which are actually sold by the buyers.
- Forecast future demand for them.
- Stock inventory at appropriate levels to meet orders that come in.
A supplier of home décor items used Live Product insights and found that wall mounted shelves are actually sold by buyers. Stoking inventory of that item resulted in repeat orders and a healthy rise in the return on investment. Better ROI with Reduced Dead Stock.
By focusing on in-demand products, you can:
- Reduce the chances of unsold inventory and dead stock.
- Keep your inventory lean and efficient, reducing storage costs.
- Maximize margins by investing in products that are constantly generating sales.
- Over time, your inventory will be comprised of products that are actively liked and sold by buyers, meaning better returns on every investment.
Conclusion:
eKomn Supplies The tools that suppliers need to control their inventory for optimization of profitability. With Inventory Status and Live Product Insights, align your stock with buyer demand, eliminate wasteful expenses, and take intelligent business decisions. Get rid of dead stock today and achieve higher margins. Sign up with eKomn and tap into the power of real-time insights!