Manage inventory using ERP systems

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 22, 2021, 2:10 AM GMT+0

Facilitating pre-ordering can help retailers secure future sales until the inventory is restocked.

Inventory management systems can help retailers track and manage products through stages of supply chains while improving consumers experience (CX) for out-of-stock products. Rather than indicating out-of-stock products at the checkout page, list them at bottom of the product listings to streamline the browsing experience and showcase relevant products.

Enterprise Resource Planning (ERP) systems can update listings, items sold, indicate the availability of sizes and colours in real-time, and ensure communication, transparency and provide data-driven analysis. Creating notifications for when a product is available helps brands remind consumers about back-in-stock products.

Craft content like emails and suggest purchasing options like buying in-store to update consumers about out-of-stock products and drive omnichannel sales. Brands can also offer alternatives or similar products next to the out-of-stock items to drive conversions immediately and enhance CX.

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