What You Need to Know About Multi-Channel Inventory Management

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22 September 2017 Sten Ivan Leave a comment Insights


One of the most challenging tasks for food and beverage (F&B) businesses is to keep track of the latest orders and inventory levels across multiple channels and e-commerce platforms. In the digital era where customers can order meals online and have them delivered on-demand, many businesses rely on multiple third-party e-commerce solutions. Hence, Integrating with an effective multi-channel inventory management solution is essential for F&B businesses to accurately handle fulfillment.

Real-time updates across all channels

Sales and inventory go hand in hand. Visibility on what products are still available or low in stock is crucial for smooth business operation. This is especially when a restaurant opts to sell their meals on multiple food delivery platforms, such as honestbee, UberEATS, Deliveroo, and foodpanda. Having a single, universal e-commerce platform that can unify and update all inventory and orders from multiple digital solution providers real time can help restaurants solve many fulfillment challenges.

 

Automatic accounting synchronization

With the right multi-channel inventory management system, F&B businesses can sync point-of-sale (POS) and cost-of-good-sold (COGS) data, invoices, and other relevant information quickly. Automatic synchronization allows F&B business to avoid preparing multiple spreadsheets and tedious data entry that are time-consuming.

 

Sales reporting and data analytics

A multi-channel inventory management system that offers the features to report sales and analyze raw data can help F&B businesses make well-informed decisions. Business owners can get firsthand insights that help future planning, restocking, and forecasting.

With new avenues for selling increasing faster than ever, it is essential that F&B businesses keep up with the latest digital solutions to remain competitive. Outdated inventory management systems will no longer provide the efficiency businesses need in this digital era.

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At Eunoia, we provide a universal, ready-to-use e-commerce platform for F&B businesses and technology providers to rapidly integrate and connect with each other, power innovation, enhance customer engagement, and increase revenue. Eunoia provides an open ecosystem which fosters cross pollination of ideas and cutting-edge solutions that aim to shape the future of the F&B industry. Learn more at www.eunoia.asia


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