Last updated on October 17th, 2021 at 03:31 pm
Customers’ expectations are constantly changing. To succeed in the future of online shopping, retailers have to adapt their strategies to meet consumers ever-changing demands. Especially now that retail is moving online and away from brick-and-mortar stores, product management remains a key issue. As a result, inventory management has become a crucial function to master for the future.
Current Scenario: The Need for Optimised Inventory Management
Running an online retail shop is never easy. However, you can reap the benefits of your e-store by proactively managing your sales and inventory and selecting the right stock at the right time.
The goal is to strike the perfect balance, and by using supply-chain management software that optimizes your e-business according to your needs, that is finally possible.
What is Flieber?
Multi-channel online retailers looking to optimise their inventory and supply chains to maximize profits and minimize costs can think of Flieber as an all-in-one inventory optimization platform. Headquartered in New York, United States, Flieber is an inventory optimization tool that uses data analytics and machine learning to connect sales forecasts with inventory levels and help retailers make better supply-chain decisions in real-time.
Why do Businesses Need Flieber?
To unify their sales pace and inventory availability for fewer stockouts and less overstock, multi-channel retailers must develop a smart workflow. With a better picture of their real sales pace and inventory availability, sellers can regain control of their supply chain, optimize their inventory, and protect their business from the stockouts and overstocks that impede future sales and growth.
How Flieber Works ?
Flieber synchronizes sales pace with inventory availability, making it easier to maintain optimal stock levels. As a result, stock-outs and overstocks, which harm profit margins and capital allocation, are drastically reduced, making Flieber a more efficient and effective operation tool.
How Flieber Benefits Businesses
With a tool like Flieber, deep AI-powered algorithms pull data from your entire supply chain, while assessing sales patterns across a broad range of factors like cyclicality, ranking, and sales velocity.
Flieber then uses this information to create forecasts that are an average 80.1% accurate, no matter which industry or category you’re in. That is, on average, 40% more accurate than using basic forecasting methodologies such as moving averages.
- Unique From Other Software
Most forecasting tools use a set 30-day moving average to predict future inventory needs.Flieber, on the other hand, uses advanced algorithms to combine sales and inventory optimization for better decision-making across the board.
- Real-Time Management
To monitor inventory levels in real-time, online retailers can set up a system that allows them to check how quickly stock-outs occur. To avoid being blindsided by stock-outs or making costly mistakes, Flieber can help analyze and predict sales patterns and trends, and set up automated reorder points and stock alert systems. From warehousing to transport from suppliers to sales channels, and trucking and freight, everything becomes simpler with Flieber.
- Sales Adjustments
Flieber automatically highlights all your products in need of stock adjustments so that you never have too much or not enough stock for a particular SKU.
- Advanced Sales Forecasting
By investing in a more accurate sales forecast, you can identify potential problems while they’re still manageable. Flieber uses deep machine learning sales forecasting methods to analyse sales and purchase orders and determine the variables that might affect sales like seasonality, outlier variations, and inventory restrictions.
- Real-Time Restocking
With Flieber’s complete view of your sales and inventory, online retailers can manage what stock needs to be restocked with the specific product. Additionally, you can also view purchases, and what amount of product is needed to restock. After that, retailers can use the location and set up the delivery date which suits them.
- Ease of Operations
Fleiber comes with a dedicated customer success team. Schedule a demo to get started and the rest will be handled by the Flieber team.
- Post Purchase Satisfaction for Consumers
Believe it or not, stock management affects the post-purchase satisfaction of consumers. You need to make sure that your products are adequately stocked to avoid losing potential repeat customers. By keeping your products in stock, you show your customers that you’re a brand that can be relied on.
There is a lot of competition in e-commerce, and not a lot of room for error. There’s never been a better time for online retailers to put an end to out-of-stock issues than right now. Flieber solves inventory optimization for the modern multi-channel retailer.
With advanced technology and data analytics to improve decisions and reduce complexity in e-commerce operations, Flieber’s platform connects with sales channels and supply chain players to synchronize sales velocity, supply chain operations and inventory management. The result is more sales due to fewer stockouts, lower trapped capital due to less overstock, and higher margins due to increased operational efficiency — all with a fraction of the work.