Inventory management in ecommerce can make or break any online enterprise, especially as ecommerce sales grow.
Online sales rose 2.7% — to $257.3 billion — in the second quarter of 2022 alone, according to the U.S. Census Bureau of the Department of Congress. Meanwhile, Morgan Stanley forecasts that ecommerce sales will make up 27% of retail sales in the U.S. by 2026.
Riding that growth wave will mean taking on one of the most important aspects of online business: ecommerce inventory management.
An effective inventory management system for ecommerce can influence crucial business elements, including cash flow, operations, and marketing strategy. And more importantly, inventory management strategies can save you money.