Cloud inventory software for ecommerce is a sophisticated inventory system employed to manage inventory online. Information on the stock is stored in remote servers and not in files or on a single computer. Information is available in real-time from any networked machine. Inventory levels can be easily monitored as well as how the stock traveled. It has integrations with most typical e-commerce programs. The integration enhances ecommerce business ecommerce operations and supports good decision-making. Overall, it is an essential remedy to e-commerce success.
It prioritizes selling the oldest stock. It is of particular assistance in handling perishable goods such as food and drugs. By consuming older stock, businesses get to prevent the products from going to waste. It provides quality products and prevents wastage. Last but not least, it means more customer satisfaction.
This method is firstly selling the most newly purchased goods. It can be beneficial in terms of taxes during inflation. By assuming that the most costly inventory is sold first, LIFO reduces taxable income. However, it is less suitable for perishable goods. This can result in older stock not being sold, which can lead to expiration. Such outcomes can be harmful to a company’s reputation.
Average costing is achieved by calculating the total cost divided by the available amount. Average costing is suitable for those firms with large volumes of similar products. Clothed retail stores and generic product manufacturers are likely to use this strategy. It simplifies inventory valuation as well as keeping profit margins relatively constant, especially when prices change.
Just-in-Time (JIT) inventory control is a technique applied to minimize levels of inventory. It entails the intake of material only when needed for production. It minimizes holding costs and wastage. It also enhances operational efficiency. JIT requires tight coordination with suppliers in order to get supplies at the right time. This guarantees that delays in production are eliminated. If implemented properly, JIT translates into considerably reduce costs. JIT also increases productivity because it allows companies to make adjustments rapidly in response to meet customer demands.
Materials Requirements Planning (MRP) is a major inventory control method. It helps companies plan and order production materials in advance. MRP establishes how much raw material and components are to be used and when to use them. It gives materials in advance to meet the plans of production. MRP eliminates time wastage and minimizes holding costs through integrating production planning and stock control. MRP minimizes the risk of stock shortages as well. As a whole, MRP enables companies to balance their levels of inventory with the actual requirements for production, increasing operating efficiency and customer satisfaction.
Economic Order Quantity (EOQ) is a formula to calculate the optimal order quantity to minimize the cost of overall inventory. EOQ maximizes ordering and holding costs. The process allows companies to maximize their orders and avoid stockouts. It also avoids unnecessary stock, which maximizes profitability and cash flow. With the calculation of EOQ, organizations know to make wise choices on quantities to order. The approach allows them to purchase in bulk at a low cost and still achieve optimum levels of stock.
Days Sales of Inventory (DSI) provides guidance on how quickly an enterprise, on average, sells its inventories. The indicator is useful in analyzing efficiency in holding inventory. A High DSI exists in quicker selling and better cash flow, and low DSI reveals slow inventories and more stock-holding expenses. Monitoring the DSI gives firms accurate decisions on holding inventories as well as providing selling techniques to ensure total activity is optimized.
MuRho started inventory and asset management in 2002. It is used by over 10,000 users. Its software is used for enhancing the operational efficiency of various industries like retail, manufacturing, and logistics.
Package / Price Range |
Start from RM100 / month |
Free Trial |
30 days free trial |
Key Feature |
|
Security |
Security of data is paramount at MuRho. They implement strong measures to protect confidential information. The system is regulated by applicable rules to protect user data. |
App Integration |
MuRho is fully integrated with leading accounting software like Xero and QuickBooks. Integration simplifies financial management and invoicing to maintain harmonized data accuracy. |
Support |
MuRho offers users great assistance. This includes training, technical assistance, and regular updates. Their professional customer assistance team is there to help companies make the most of the software. |
SiteGiant serves over 10,000 merchants. The platform unifies e-commerce operations by integrating various sales platforms. It enables businesses to increase sales and enhance customer engagement by integrating online and offline sales.
Package / Price Range |
ERP Value, ERP Value Plus, ERP Business + SiteGiant App, ERP Premium RM208 – RM498 / month (The price for SiteGiant Webstore and SiteGiant Retail is different.) |
Free Trial |
The SiteGiant free trial is not a specific number of days. Instead, it provides free membership for 3 months from SiteGiant and potentially another 12 months through a Government subsidy campaign. This equates to potentially a total of 15 months, subject to the availability and qualification for the government subsidy. |
Key Feature |
|
Security |
SiteGiant has stringent measures to protect sensitive information. Regular updates and compliance with regulations ensure that it is a safe place for online transactions. |
App Integration |
SiteGiant is embedded with popular platforms. This contributes significantly to its usefulness. Users can integrate with various payment gateways and logistic partners for seamless order fulfillment. Integration with software like Xero automates bookkeeping and financial management. |
Support |
SiteGiant provides its customers with plenty of support. There are training resources and technical support on the website. Their customer service is prompt and willing to help with any issues that arise. |
SelluSeller is a robust order, inventory, and product information management tool for multichannel e-commerce. It hosts more than 7,200 businesses and has processed over 31 million orders, which equates to 1.27 billion Gross Merchandise Value (GMV). It simplifies ecommerce channel selling into an easy task due to its user-friendly interface.
Package / Price Range |
SelluSeller has scalable pricing plans that keep pace with the individualized needs of all businesses. You can avail of economical options offering scope for expansion at every phase in your entrepreneurial life as an online merchant. |
Free Trial |
30 days free trial |
Key Feature |
|
Security |
SelluSeller prioritizes user security with strong steps taken to safeguard sensitive information. Being a product of Anchanto, a worldwide B2B SaaS provider, it adheres to best practices for data protection. |
App Integration |
SelluSeller integrates with over 100 ecommerce platforms, ERPs, accounting solutions, and logistics companies. Real-time data synchronization for financial accuracy and simplifying reporting via automated processing of orders and invoices is facilitated by integration with Xero. |
Support |
SelluSeller provides complete support to its users. The website provides personalized account managers and different support options, including calls, email, and chat. They are always ready to help companies get the best out of their software and fix any problems. |
Unleashed is a reliable inventory management software. It streamlines stock, invoices, orders, and sales. The software helps businesses regain control and become more efficient. It provides in-depth reporting and simple integrations. Trusted by companies worldwide, Unleashed is built to optimize profitability, save time, and enhance performance. It brings together buying, warehousing, sales, and production processes.
Package / Price Range |
Medium, Large, Large Plus RM1690 – RM4780 / month |
Free Trial |
14 days free trial |
Key Feature |
|
Security |
Unleashed implements strong measures to protect sensitive information. |
App Integration |
Unleashed integrates with over 30 apps. Integration allows real-time sales and inventory synchronization. It simplifies financial reporting. The software also integrates with Shopify for multi-channel eCommerce inventory management automation. |
Support |
Unleashed offers comprehensive support on various channels. Users can access troubleshooting, integration support, and general inquiries. |
Cin7 Core is an effective inventory management system. It is suitable for small businesses, manufacturers, and retailers. It combines inventory management, sales order management, and fulfillment in one cloud-based system. This streamlines operations and makes the business expand.
Package / Price Range |
Standard, Pro, Advanced, Omni RM1550 – RM4420 / month For Omni, it is a customized plan, a business can discuss with the team. |
Free Trial |
14 days free trial |
Key Feature |
|
Security |
Cin7 Core is secure. It protects user data and ensures industry standards compliance. The platform provides safe access and data backup to minimize risks. |
App Integration |
Cin7 Core integrates with over 700 platforms. These include popular ones like Shopify, Amazon, and Xero. These integrations allow businesses to centralize operations without having to give up their existing software. |
Support |
Cin7 Core provides adequate customer support. Users get full documentation and timely service. This support helps users to achieve the maximum potential of the software. |
While choosing inventory management software, firms ought not to lose sight of certain special considerations. To begin with, identify concrete pain points, for example, the need to track inventory, or handling multiple locations. Knowing your top processes will assist you in deciding what features you need most.
Evaluate the capacity of the software. Look for real-time inventory monitoring and auto-ordering functionality. Good reporting capabilities are also an absolute necessity. Ensure that the software can easily be integrated into other systems like accounting or ERP systems. It is highly important that scalability must be good; therefore, pick software that may grow along with your e commerce business.
Check on the blog-> Top 5 Best Cloud Accounting Software in Malaysia
User experience matters as well. An easy-to-use interface is important. Lastly, keep under observation on the price and pricing plan. By considering all these, companies can choose software that truly brings value to their processes.
Yes, Xero is a cheap inventory management tool, particularly for small businesses. The application is a simple tool that helps you monitor stock levels and keep track of inventory. Xero provides its users with real-time inventory tracking, thus enabling timely buying and preventing stockouts.
You can simply know what is selling with Xero. It helps you to change your buying based on the information. Billing and purchasing are also made easier by the software. It fills in invoices and purchase orders automatically with inventory data, saving time and reducing errors.
Xero is easily able to support 4,000 finished items. Using the platform, organizations are able to optimize their stock management at relatively low costs. Xero can, in general, be regarded as a practical solution for gaining efficiency in business operations.
Check on the blog-> Transitioning to Xero: A Simple 7 Steps Guide for Malaysian Businesses
Also, another solution to integrate Xero with your business is Caltrix Asia. It is Xero Malaysia Gold Partner to help you boost your business. A free 30 minute clarification call is open to all. Let’s get started now!
Forecasting is critical in inventory management. Companies can gauge how much of a product they will sell based on historical sales data. It keeps them from experiencing stockouts and overstocking.
Accurate forecasts also reduce carrying costs. They improve planning for production by ensuring materials arrive at the appropriate time. Forecasts also increase supply chain management effectiveness and minimize lost sales. They enhance customer satisfaction by ensuring products reach customers at the appropriate time. Forecasting also provides useful data for effective inventory management decision-making.
To be able to have your inventory control software scale with your business, choose one that is responsive and flexible. It needs to be easily integrated with your business. Choose cloud-based solutions such as Xero that can scale your requirements and offer API access to ease integration with other tools. Additionally, incorporating features like barcode scanning and demand forecasting will be more effective and will contribute to your growth.
CALTRiX | Xero Malaysia Gold Partner | Cloud Accounting Service
Typically replies within minutes
E-Invoicing will be implemented soon in Malaysia, do you need more information about how can Xero Cloud Accounting help your business in digital transformation?
WhatsApp Us
🟢 Online | Privacy policy
WhatsApp us