Ecommerce fulfilment specialist launches Inventory Analysis software

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This article is brought to you by Retail Technology Review: Ecommerce fulfilment specialist launches Inventory Analysis software.

Zendbox has launched its new Inventory Analysis software, designed to help online retailers boost sales, minimise waste and improve cash flow. 
 
Available to sellers on platforms including Amazon, eBay and Shopify, online retailers can use the software to leverage a host of ground-breaking Inventory Analysis features to improve their offering and scale up rapidly.

Highlights of the Inventory Analysis include the ability to view the:  

  • Sales performance for every product, including forecasted demand
  • Best-selling products by date range and total units sold
  • Stock that is in need of replenishment
  • Overstocked products that are above the ideal stock level
  • Product batch and expiry date for expired or soon-to-expire products 

The tool has been built by industry-leading developers at the eCommerce fulfilment specialist to combat challenges of fulfilment that they have experienced first-hand.  
 
Presented in sleek, digestible widgets, the software makes it easy for retailers to avoid underselling or overselling to maximise every sales opportunity.  

One of a kind, built to target challenges seen first-hand in the fulfilment space 

The ground-breaking Inventory Analysis software is the first tool of its kind to be offered by a fulfilment provider as a standard part of their service.
Zendbox identified the need for the tool, having witnessed eCommerce businesses struggling to access real-time information about their inventory. This is a significant challenge for businesses as it makes it difficult for them to track their stock levels and determine precisely when to re-order from suppliers to prevent running out of stock and over-selling. 

The software tackles the lack of visibility over stock which is a common struggle in the traditional fulfilment space. Particularly for perishable goods, it can be easy to lose track of products close to their expiry date, leading to lost sales and the need to dispose of expired items. This has both negative commercial and environmental consequences.

Greater control and visibility over stock and KPIs

The Inventory Analysis software allows retailers to take control and accurately pinpoint the best time to replenish stock, speeding up the re-ordering process and facilitating closer collaboration with suppliers. This has proven invaluable particularly whilst the combined effects of Brexit and COVID continue to disrupt worldwide logistics.  
The tool also guarantees to save businesses time by collating important stock data in one place, making it easy to view KPIs at a glance.  
Another benefit is that the software identifies opportunities for retailers to release cash that may be tied up in overstocked products, which can be reinvested back into other areas of the business.

Smarter sales and trend identification

Beyond providing greater stock control, the Inventory Analysis tool encourages online businesses to become more proactive with sales and marketing initiatives. For instance, through identifying their best-selling products, eCommerce businesses can drive targeted promotions to gain higher rates of sales and ensure the best return on investment.  

The ability to easily identify emerging trends using Inventory Analysis allows retailers to take quick and decisive action so they can capitalise on these trends. This could mean offering exclusive discounts on popular products that are showing a steep growth in sales in the lead up to seasonal events like Black Friday.  
 
Commenting on the launch of the tool, Zendbox’s Technical Operations & Product Development Manager, Alex Borg, said:  “With decades of combined experience in purchasing and demand forecasting, we at Zendbox understand the importance of cost-effective inventory planning. We developed Inventory Analysis to take the headache out of the process and help retailers avoid potential sales losses. It ultimately empowers our partners to make inventory management easier, more efficient, and more profitable.

“What’s more, other 3PL providers charge a premium for similar solutions with far fewer capabilities. We offer Inventory Analysis at no additional cost to our partners, and it’s backed by best-in-class training and technical support so that users get the most out of the platform and its features. Inventory Analysis truly is a game-changer for online businesses.”

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