Velocity Inventory Management and Online Storefronts

There are many names associated with online solutions or storefronts.

In a previous report, I covered reporting, and in many ways, those reports and inventory go hand-in-hand. One significant thing is maintaining the correct inventory levels to purchase at the optimum quantity, but also minimize carrying outdated inventory. If the goal is to turn inventory every quarter, then the storefront data will provide average usage by quarter. You can also set automatic reorder points, decide to produce low usage items on-demand, and keep inventory fluid.

Storefronts should also be able to display inventory in real-time and give you an exact count on every item. If you have many updates to products, it is also essential that the stock reflects the latest version of each product. I always recommend adding a version number to printed pieces to avoid the problem of outdated products distributed.