![]() Inventory management and order fulfillment are fairly straightforward. Let’s say you make one-of-a-kind candles that you sell on Etsy. Multi-channel inventory management in practice But when you’re selling on more than one channel, inventory management becomes much more complicated - and errors become more likely. It can be a challenge to maintain accurate inventory when you’re selling products in one location or on a single ecommerce platform. These can include online marketplaces, retail stores, and wholesale.Įvery business that sells tangible goods must manage its inventory, and the goal is to always keep the ideal number of products in stock while providing a top-notch shopping experience for the customer. Multi-channel inventory management is the process a company uses to account for and track inventory that’s stored at multiple locations and sold across various channels. What Is Multi-Channel Inventory Management? Conquer Last Mile Delivery With OptimoRoute.5 Multi-Channel Inventory Management Solutions for Your Business.6 Benefits of Multi-Channel Inventory Management.What Is Multi-Channel Inventory Management?.Jump to the section that interests you most: Let’s take a look at what it is and the challenges it solves, as well as explore some inventory-management tools that integrate seamlessly with OptimoRoute, so you can efficiently manage orders, from purchase to delivery. Today, multi-channel inventory management is a must for businesses selling on various channels and/or managing inventory across multiple warehouses. The move saved Grosz 10 hours per week, enabling him to double Forever Gifts’ SKU count and increase its sales by 40% - without overselling a single product. So Grosz found a multi-channel inventory management solution that would allow him to instantly sync inventory across every sales channel. Manually managing stock levels across various sales channels was time-consuming and problematic and often caused him to oversell his products. Raffi Grosz, founder of ForeverGifts, learned this firsthand when he began selling products not only on his own ecommerce site but also on other platforms, including Amazon and eBay. “Our model allows organizations to scale fast in strong economic environments and reduce risk, capital investment and long-term commitments when they face uncertainty.Businesses lose $1.75 trillion annually due to the costs associated with mismanaging inventory, and the likelihood of inventory mistakes only increases as businesses expand and sell on multiple channels. “Despite changing economic conditions, Flexe added nearly as many enterprise customers in the first six months of 2022 as it did all of last year and continues to see strong demand,” said Karl Siebrecht, Flexe Co-Founder and CEO. They can expand and contract the services as demand dictates without the high fixed costs of owning or leasing their facilities or signing a long-term contract with a 3PL, many of whom are Flexe partners. ![]() The company provides its clients with access to inventory and order visibility, as well as a range of LTL, parcel and last-mile carriers through its platform, in addition to short-term fulfillment space. We’re pleased to partner with a category creator that is transforming a massive industry.”įlexe is asset light in that it doesn’t own or manage any of the facilities used by its customers, who include large retailers and brands including Ace Hardware, BJ’s Wholesale Club, Ralph Lauren, Staples and Walmart. “Flexe has demonstrated that programmatic logistics deliver value for the world’s most demanding companies. “Flexe uniquely helps enterprise retailers and brands solve big supply chain challenges and excel in uncertain environments,” said Samir Menon, a director at BlackRock Private Equity Partners in a release. The company claims six of the ten largest retailers and four of the five largest consumer packaged goods companies as clients, using its programmatic logistics services to support their supply chain operations. This brings Flexe’s total raised to date to $253 million, the most recent being a $70 million Series C round in December 2020. ![]()
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