Inventory management is considered one of the most crucial aspects of running an eCommerce business. It will help you with smoothening out the operations, maximising profitability, and minimising the stockouts.
In the world of eCommerce, Magento is a big name that has helped several budding entrepreneurs build successful online stores. But, while you seek Magento development services, you must also look out for certain extensions that would help you streamline inventory management.
Fortunately, there is a big marketplace full of such extensions for your Magento 2 store to help it thrive. To help you get a better insight into some of the available options, this article highlights the top seven inventory management extensions for your Magento 2 store to count on. Read along till the end to find out!
Why is it Important to Emphasise Choosing the Ideal Inventory Management Extension?
Inventory management is one of the most crucial elements as far as success for eCommerce is concerned. When you can ensure the effectiveness of your Magento store, it will help you promote cash flow, aid in decision-making, and ensure a better customer experience. Upon emphasising inventory management for the Magento 2 store, you will be able to navigate your operations efficiently and meet consumer demands.
Some of the reasons that express the importance of inventory management for your Magento store are as follows:
- Scales the overall customer experience by preventing certain out-of-stock situations or boosting consumer satisfaction. Moreover, it also provides accurate information associated with product availability for the customers.
- Cash flow will be optimised, and the order fulfilment efficiency will increase. There will be no understocking or overstocking issues, which will promote better usage of capital investment.
- The number of timely deliveries will increase when your inventory management is on point!
- Analyse the sales demand or frequency better with idea Magento 2 extensions for inventory management, which will help you decide on replenishment. The easy way to understand this is you will be able to restock your demanding items to boost sales.
- Keep a tab on the market demands or trends associated with your brand offerings. It will help you decide on what products you must order in order to meet the future demands.
- Historical data or sales pattern assessment will be easier when you have a feature-rich inventory management extension over your Magento store.
What are the Top 3 Magento 2 Inventory Management Extensions for Your Online Store?
As of now, there is an abundance of inventory management extensions in the market for your Magento 2 store. But, what you need is the best option among all to enhance the operational experience for the store. So, here is the list of three top Magento 2 extensions for inventory management that you must count on:
1. Zoho Inventory and Magento 2 Connector- Elsner Technologies
Magento 2 with Zoho inventory is a fruitful integration that is highly in demand and helps you run efficient business operations for the store. Upon seeking this integration, you will be able to permit the import of products from diverse Zoho accounts. Moreover, you can also sync the products listed over Zoho inventory with your Magento store to keep the data updated at all times.
The admin will have the feasibility to sync the orders directly from your Zoho inventory account. Some of the features that you would experience upon seeking Magento 2 Zoho Inventory software extension for your store are:
- Multiple inventory accounts can be set for your Magento store.
- Any order made over the Magento store will be updated automatically over the Zoho Inventory logs.
- Admin will be the only person responsible for updating or adding inventory products to Zoho.
- Configurable or simple products can be exported easily from Magento to that Zoho inventory.
- With the Zoho Inventory and Magento 2 connector, the admins will be able to fetch products directly from Zoho’s inventory database.
2. Magento 2 Inventory Report- BSS
Magento 2 inventory report extension, introduced by BSS, is quite powerful and offers you the feasibility of accessing various analytics & reports for deriving actionable insights. With the use of this inventory management extension, you will be able to monitor your stock levels, analyse the sales trends, track product movement, and identify the overstocked items.
You will be getting a customizable report and a centralised dashboard for you to make more informed decisions. Moreover, you will also be able to optimise the overall strategies associated with inventory management. Some of the key features of the Magento 2 inventory report extension by BSS are:
- Support automatic listing of the stock movements within your grid format.
- Give you separate grids for tracking the change in quantity for each product.
- Supports convenient export of various inventory reports in the CSV format.
- Easy approach towards deleting the old or unnecessary inventory logs from your grid.
3. Multi-Location Inventory Management- Magestore
Magestore brings to you the multi-location inventory management extension, which has a list of intuitive features for you to streamline your overall inventory management process. You will be able to sync the real-time status of your stock and track its levels over time. Not only that, but you will also be able to manage several warehouses, handle the product bundling requirements, and stay updated with low-stock notifications.
The best thing is you can integrate this extension with your barcoding software as well, which would help you make your order fulfillment and inventory tracking job easier. Some of the other associated features of multi-location inventory management are:
- You get completely centralised control over the inventory.
- Inventory tracking can be approached in real time.
- Supports multi-warehouse management for your store.
- Enables you to integrate serialised management of the inventory.
- Helps you enable proper analytics and reporting capabilities to your inventory management.
These are the three best Magento 2 extensions that you can integrate into your online store. As you are aware of how important inventory management can be for your Magento store, it is better to get the right extension added to the operational platform.
So, while you seek Magento development services from experts, let them know your need for integrating extensions. You can either pick one from these top three options or get your custom extension developed on demand. Connect with the experts today!