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5 features your inventory management system should have

5 features your inventory management system should have

Any successful eCommerce business relies heavily on inventory management. This is especially true for eCommerce business owners juggling multiple sales channels. 

By managing inventory, you will be aware of stock locations at any given time and know exactly what quantities need to be addressed. Manually managing your inventories, however, could spell disaster: it’s tedious, it takes a lot of time, and you always need to double-check everything. 

Investing in an automated solution will ensure your inventory can be updated automatically, saving you countless hours, all while having a real-time view of your stock and addressing any challenges right away.

Especially if your business is looking to scale, automated inventory systems can be a great solution. Your business operations can be scaled up by reducing time and eliminating error risks with these systems.

5 must-have features for your inventory management system

1. Product lookup

With a product lookup option, you can scan or manually enter the product barcode to access all necessary product information. This, combined with barcoding all your products, eliminates human errors caused by manual entry. In this way, business functions can be automated that require communication with other parts of the system. Product lookup improves inventory accuracy, speeds up back-office processes, and improves stock refill.
product lookup system for inventory management
smart forecasting to track inventory

2. Warehouse management

You can improve operations with a single-view dashboard of your inventory management system. This feature prevents issues such as low inventory levels, shipping delays, and overstocks. An inventory alerts feature will allow you to raise possible issues via email or SMS regarding out-of-stock items, shipment status, or low inventory stock should an issue arise.

3. Smart forecasting

A smart inventory management system will have tools that help you track inventory, plan, forecast and react fast to shortages. Moreover, it can help you manage complex variables of how fast products sell with accuracy. This is one of the most underrated features of an automated inventory management system. Ideally, inventory management systems should provide real-time data to help you make quick, informed decisions.
reporting dashboard of stock on computer

4. Reports and dashboards

Reports and dashboards on shelf management should be readily available to you to look into shelf audits, price audits, product status, warehouses, and order or shipment status. The system you are using should be able to generate detailed reports on your stocks, inventory, purchase orders, and sales in a timely manner.

5. Automated order management

With automated order management, you can handle inventory issues at your end: sort packages according to where they should be delivered and ensure that they reach their destination on time with ease.
warehouse management feature for stock management

Top trends to watch

When picking your Inventory Management Solution, you should consider the following technology trends:

Automated equipment

With automated equipment, inventory management can be radically improved, and you can save time and effort by efficiently navigating warehouse processes. Make sure that your inventory management system supports an automated equipment solution.

AI capabilities

Look for a system that leverages artificial intelligence (AI) and machine learning if your budget allows it. These tools provide expert recommendations by analysing data from every area of the supply chain.


Keeping a budget is important, but system performance and reliability should take precedence. In the short term, don't sacrifice scalability to save money, as doing so could cost you later on.


There is a wealth of actionable information in the data. Increasingly, businesses rely on data and analytics to make intelligent decisions, and data can provide insights that can further enhance sales. So use data analytics to get a perspective you wouldn't have otherwise.

Cloud vs on-premise

Cloud-based inventory management systems are usually more cost-effective than on-premise solutions. Deploying and maintaining an on-premise system can take more time and effort, and it can be difficult to update.

Making the right decisions

You don’t want to choose your supply management system in haste, especially now, when the market is fierce. The success or failure of your business depends on it. When choosing the right solution, think about your specific needs: the products you sell, the volume of orders you process, your budget restrictions and your growth plans. Once you make a decision, it’s crucial that you regularly re-evaluate it to make sure it’s continuing to meet your business needs as you scale.

Interested in learning more about inventory management systems? WonderLane, a Trust Payments company, specialises in designing, building and delivering commerce platforms for next-generation shopping journeys.

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