Managing Inventory in retail ecommerce websites
Retailers who are selling products online have the advantage of some time cushion before the product actually reaches the customer. This means they have the time to arrange for something that they do not have. This catch can work to the advantage of the retailer and softwares can be built around this.
1.Connect the ecommerce retail website to an inventory management system being used to manage the entire inventory in the system. This means if the item is out of stock the site user will not be able to purchase the item as it will display “out of stock” message
2.Another way could be to have no inventory field at all for any item on the website. Whenever an order is placed by the customer, the credit card only blocks the order value and is not charge it on the customer credit card. The supplier will have the time to arrange for all the items on the order. In case he cannot have all the items on the order you can contact the customer and ask for the modifications. The order costs will be modified accordingly
The second scenario is more profitable and feasible for ecommerce business retailers were also manufacturers of the stock that they hold as they have more flexibility on arranging quantities of various items. The first scenario helps retailers were highly regulated stocks and monitor and inventory levels continuously.
The building ecommerce websites and retail based website shopping cart software that can cater towards these requirements. Business applicatio development needs to be receptive to the flexible approaches for maximized business revenues