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

Tuesday, November 10th, 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

Monday, October 21st, 2019

Rising competition and thin margins are forcing small businesses involved in multi-channel selling to better equip themselves with efficient 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?

An Enterprise Resource Planning (ERP) 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 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 and improve efficiency with an inventory management software solution.

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

  • Our 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’s 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.

ERP Gold is here to help you with all your inventory management and control issues!  Click HERE to read more about how we can help, call us at 888.334.4472 for a free consultation.  If you want us to call you, fill out our contact form HERE. Or click HERE to schedule a free consultation or demonstration of how we can help you.

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Why ERP Gold is the Best Cell Phone Inventory Management Software

Thursday, October 17th, 2019

In the fast-paced world of mobile device inventory management, wholesalers, retailers, and distributors face a myriad of challenges unique to the industry. Even with technological advancements, many companies still rely on partially or entirely manual processes for managing orders, stock inventory, and deliveries. This is further complicated in the mobile device sector by the necessity to serialize devices with an IMEI number, introducing an additional layer of complexity to an already demanding system.

Mobile Phone Sales Are Growing Exponentially!

The mobile phone inventory in circulation is expected to reach 6.94 billion units, and this number will likely continue to soar. Wholesalers are crucial in making mobile devices more widely available at competitive prices. With the increasing demand, they require robust mobile stock management software to enhance operational efficiency. This is precisely where ERP Gold steps in, equipping businesses with the tools needed to excel.

Optimized Serialized Inventory Management System

ERP Gold offers a customizable serialized inventory management system, which is essential for handling large volumes of mobile devices. Wholesalers often receive devices in varying conditions, necessitating a system to categorize and facilitate necessary repairs. The mobile device inventory management module within ERP Gold provides an effective solution, ensuring optimal organization and tracking.

Stock Inventory Control By Serial Number (IMEI)

Efficient tracking of every single item in inventory is vital, and for mobile devices, this means managing unique IMEI numbers. ERP Gold’s mobile inventory software streamlines the synchronization of IMEIs from purchase orders with the actual inventory received, minimizing errors, enhancing accuracy, and guaranteeing thorough inventory tracking.

Key Benefits of ERP Gold’s Serialized Inventory Management

  • Accurate valuation of mobile device inventory.
  • Effective mobile stock management software for reorder management.
  • Insights into which devices are capital-intensive.
  • Details on necessary repair parts and quantities.
  • Device categorization based on condition, and much more.

Comprehensive Mobile Device Software

ERP Gold offers a comprehensive mobile device management solution for wholesalers, distributors, and retailers. It meticulously tracks sales while managing the costs associated with not only acquiring phones but also their repairs. This precision in cost tracking aids in a more accurate calculation of profit margins, facilitating strategic business decisions, such as optimizing repair expenditures to maximize profitability. Included in the ERP Gold system is the ability to maintain organized customer records and sales data, which can be conveniently exported to formats like Excel.

Conclusion

ERP Gold’s mobile inventory management software offers an industry-leading solution that transforms the bulk buying, ordering, repairing, and distribution of mobile devices into a streamlined process. To explore how ERP Gold can assist you with your mobile inventory management system and control needs, click HERE. For a FREE consultation, call us at 888.334.4472. Prefer us to reach out to you? Fill out our contact form, or schedule a free consultation or demonstration today.

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Is Email Marketing Still Relevant

Saturday, March 30th, 2019

When the internet was still new and people were exploring it as a luxury, emails were taken as sophisticated and highly effective ways to target businesses. Everyone loved the notification “ You’ve Got An Email”

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Why Do Small Businesses Need ERP Software?

Wednesday, March 27th, 2019

benefits of erp software for small business

Why do Small Businesses Need ERP Software?

Many small businesses claim that their size and operations are suitable for ERP implementation, while few of them understand the hurdles that are faced while implementing ERP Solutions such as high costs, infrastructure remodeling, and other expensive measures.

This discourages them from pursuing ERP solutions which might help boost the efficiency and effectiveness of their business operations.

Enterprise Resource Planning (ERP) is a complex science that involves lean mechanisms to ensure your business can cut through unnecessary costs and waste of resources and materials.

ERP software will allow your business to implement SOPs which are foundations of large organizations, this helps smaller businesses to ensure rapid growth as their software allows them to understand the mechanics of business expansion and efficiency.

When Do You Need ERP As A Small Business?

Small business budgets are limited and everything that is an investment in the business must be and adding a good percentage of value to the overall business. As a piece of advice, it’s better to implement ERP in modules as per growth permits, rather than going for the complete package.

As a business, there are certain areas that need focus if they want efficiency and smooth running of business operations.

  • Lack of Transparency
  • Discrepancies in Warehouse Inventory
  • Poor Production Planning
  • Mishandling of Finances
  • Difficulty in Decision Making

Web-Based ERP and Its Benefits For Small Business:

Thanks to cloud computing and advancements in data sciences, now small businesses can subscribe to online cloud-based ERP solutions. These serve as a cheap and effective solution for businesses to securely manage their business operations and data.

Major Benefits of Cloud-Based ERP Software for Small Business:

Cloud-based ERP solutions occupy zero space and cost as much as your Netflix account, the boost it gives your business, and its operations is something every businessman dreams of.

Listed below are some major benefits of Cloud Based ERP Solution:

  • Highly Transparent:
    Cloud-based ERP solutions allow your business to integrate data on a single platform and then sort it automatically as per your departmental needs.
  • Informed Decision Making:
    Management can get through tough crunches when it comes to major decisions with the help of data management provided by an ERP solution.
  • Better Internal Team Collaboration:
    Any good team needs communication and exchange of information, especially your workforce. ERP allows your employees to coordinate with each other and increase the fluid transition of data from one department to another.
  • Big Data and Business Analytics:
    Advancement in technology has made data an irreplaceable asset for any business. Big data represents data accumulated by businesses over the course of years.  This data helps businesses understand trends better and make informed and real-time decisions.

About ERP Gold:

ERP Gold is a full-stack intelligent Low-Cost ERP Software for Small Businesses.  This all-in-one solution provides complete control over lead generation to P&L statements, and all the analysis in the middle, in one platform.

It is a cost-effective ERP solution for your business. It allows small businesses to have their entire business at their fingertips anytime, anywhere.

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