Yesterday, I got a chance to chat with my friend. He is in Vietnam. He has an online shoes business with two locations and now the monthly revenue is about one billion VND. The startup began in 2011 and one year later he decided to open another store. At the first time, there was no need to computerise stock management system because he has a team of three people to update stock and check stock everyday. However, when the second store established, he felt the urge to get one tool for inventory management. I think it is the very frequent situation in business.
There are many inventory management systems available. But the most important factor is that you know what you need. A checklist of your requirements should be prepared. For example, your needs might include:
- compatible with Magento platform (because your site is built on Magento)
- multiple prices for items
- prices in different currencies
- automatic updating, selecting groups of items to update, single-item updating
- using more than one warehouse
- ability to adapt to your changing needs
- multiple users at the same time
You should avoid choosing software that’s too complicated for your needs as it will be a waste of time and money.
If you want to have a simple or less function extension, you can try some FREE stuffs offering in Magento Connect like Real Inventory (Wyomind), eCommHub Connect. However if your business go very fast, you should consider a purchased extension which can help you organize well and keep very good track of stock. Moreover, these function oftens offer strong reporting system which support you to make smarter decisions. You will always know which products, warehouses and suppliers are performing best. It’s like having your own research team. You can consider Magento Inventory Management $299 (Magestore) or Embedded ERP $599 (Boostmyshop).
Hope that this information works well with you. Thanks!
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