Online shoe stores face a multitude of problems. You have to deal with varying sizes, colors, brands, and styles of shoes.
On top of that, customer preferences are volatile. If you cannot sell products at the right time due to a lack of proper inventory, it results in missed sales.
This is why keeping a correct shoe inventory management system in place is vital.
This post will show you how to complete your tasks more effortlessly using the right system.
You will figure out what the system provides, what features are essential to look for, and how it benefits the growth of your store. Let’s dive in.
What Is A Shoe Inventory Management System?
A shoe inventory management system is a software designed to assist online shoe retailers in managing their stock. It is not like other generalized inventory systems.
Such a system is tailored for the footwear industry. It enables management of product variations such as size, color, style, and brand.
This provides you with updated information about the stock levels, such as quantities available, quantities that are low, and quantities that need to be restocked.
The system functions in real time, meaning every sale, return, or stock update will appear automatically without any delays.
It also integrates with all your selling channels. Whether you use your website, a marketplace, or social media, the system integrates them all.
You will avoid making mistakes and not run into problems like selling out-of-stock items.
You will not take the time to correct errors. The system does it for you, giving you extra time to grow your store.
Consider Aspects of a Software Solution
All tools are not the same. To ensure operational excellence in your shoe retail shop, the system must have certain features.
1. Automatic stock level adjustments
This will ensure your store runs efficiently and accurately. The system automatically resets the selling stock on items that go out of stock. You do not have items lying around that and not able to be sold.
2. Multi-option item management
Good inventory tools should manage all of the hundreds of different shoe sizes and colors as one product listing. This facilitates tracking them in an organized fashion.
3. Compatibility with different systems
Your inventory management system should be seamlessly integrated with your e-commerce site, payment gateways, and accounting software. This will enhance efficiency and minimize mistakes.
4. Warnings for items that need restocking
These alerts are beneficial for highlighting which items need to be reordered. Your best-selling items will not suddenly catch you off guard when they run out.
5. Export and update everything at the same time
These capabilities will allow you to make several edits at one time. This is useful when a company has to add several new products or adjust pricing for many products.
6. Support for multiple locations
If your stock is split between multiple warehouses or locations, the system should have a way to keep track of all of them in a centralized place.
7. Simplification of a report providing
The system must help you keep track of what is selling fast or slow. The reports on the dashboard must be simple and assist the users in making wise decisions.
Why Your Business Needs A Shoe Inventory Management System
With this system, it’s not only about time saving. It makes your business grow at a much faster rate.
a) Fewer mistakes – You are no longer able to sell something you do not have available, resulting in overselling.
b) Faster delivery – Orders are easier to process and ship.
c) Less waste – Overstocking items that do not sell in a reasonable amount of time is no longer possible.
d) Smarter buying – You can know in advance what you plan to purchase based on sales data.
e) Happier customers – Customers become more trusting and willing to do business with you when your store operates efficiently.
Avoiding delays and confusion is easy with your system in place. Propels the pace of work in your business that allowing more time to be spent on making money instead of correcting issues.
How Work is Made Easier By Shoe Inventory Management Systems
The work involved in running an online shoe store is labor-intensive. Staying organized and quick is necessary. The system takes care of that.
It consolidates all of your inventory data in a single location. There is no more estimating or searching through multiple sites.
In case you have multiple warehouses, it manages all stock levels and movement between sites.
The system allows you to add new products and create promotions quickly and efficiently.
It only takes a few clicks for the system to update all listings. If you choose to run a BOGO promotion, for example, it is all configurable from the dashboard interface.
Using the data you collect, you can understand which styles are best sellers.
You also get the most popular shopping times and how to tailor your offers. Such information is useful for helping you rise.
How to Choose the Right System
Think of picking a system that will be relevant for your business value now and down the road.
Does it have future potential for your business? Since your business can grow, the system should be able to provide more products and sales channels.
Does it integrate with other systems? You will require it to be compatible with your website, payment, or accounting software.
Does it have a simple learning curve? Your team should not require long learning sessions to use it.
Is the support team helpful? They should respond promptly if you require assistance.
Can you try it before paying? Yes, many companies will let you try their software before paying, so take advantage of the free trials to assess the system.
What do other users say? Check out how other shoe sellers have used it and whether they provide testimonials about its usefulness.
Pick a tool that addresses your actual needs and daily activities.
Best Practices to Get the Most Out of It
After you’ve installed it, ensure you make good use of the system.
Frequently audit your stock to ensure that the system’s records align with the actual inventory.
Always keep product information current, particularly changes in sizes and prices.
Adjust reorder levels to ensure that you do not run out of stock for your best sellers.
Use reports to control stock levels and help plan item purchases, and avoid keeping non-moving items in stock.
Ensure all staff are adequately trained on the usage of the system.
Integrate it with marketing and service/customer tools to enable enhanced sales and better customer service.
When these routines are performed, combined with proper configuration, the system transcends being merely a tool and instead becomes an integral component of your business.
Final Thought on Shoe Inventory Management Systems
An e-commerce shoe store has its hurdles to conquer. However, with an adequate system to manage inventory, everything becomes simpler.
It assists you in monitoring every single shoe, replenishing stock on time, and aids in planning.
Improved operations translate to higher overall sales and happier customers.
With this in mind, spend your time making sure you implement a system that fulfills all of your requirements. Apply effective training to make full use of the solution.
Such a move will be beneficial for your shoe business.