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Order placed on ecommerce website, picked up in-store. Let’s look at an example, powered by multi channel inventory management. When Multi Channel Inventory Makes Possible In order to seize the advantage of in store fulfillment and reduce ugly surprises simultaneously across channels and marketplaces, businesses need an unimpeachable source of inventory data. They are able to purchase however they want - and that means many different channels.
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With most national retailers already offering this option, it’s becoming a competitive advantage for regional businesses that have a smaller footprint.Ĭonsumers have extremely high expectations, driven by those large brands. This is the holy grail of a phenomenal customer experience. In store fulfillment only works of inventory is managed very well and is always up to date. The end result across an enterprise is that inventory data is always up to date, stock levels are never a surprise, and customer satisfaction is always high. The end result for the customer is that they can order from anywhere, receive their order in the manner of their choosing, and are never surprised about an item being stock or not. After all, who notices a lack of problems? Most of our attention is directed at challenges or issues to be resolved. When the process is working correctly, you don’t really notice it. If inventory selling from multiple sources is managed correctly, customers never know the complexity required to make it happen. Most merchants would agree that inventory is the heart of their commerce operations, and being able to seamlessly manage it across multiple channels has become essential to maintaining a competitive edge internally that translates into a strong customer experience externally.Ĭreating a consistent experience for customers as they interact with a company or brand across various mediums is the reason multi-channel inventory management has become a focus in the past decade. Having an unimpeachable source of inventory data that all stakeholders can access removes an otherwise troublesome layer of alignment. Multi-channel inventory management (also known as multi-source inventory) is the process by which businesses account for and track orders from various sales sources on inventory that is stored at multiple locations, such as marketplaces, ecommerce, retail, and wholesale.Īn important component of this process is how the information is shared across the business - since many different departments need inventory data for different reasons.