When you are running a retailer business, facing to daily operational problems such as customers’s query, goods delivery, inventory management,... seems to be impossibly avoided. It also is easy to get big confusion and lose track if you can not see your business in the whole picture so that all the separate issues can be dealt with in a both good and consistent stream. Not only owners should keep an eye on the health and the position of their business among others as an overview but also do they need to forecast which kinds of products they should focus on in the next period or what issue can occur before its real arrival.
Because these above tasks, actually, are unable to be done without accurate measurement and data, integrating an inventory management system with comprehensive reports into your online store should be considered as an ideal solution. Let’s look at 5 key reports of Magestore Inventory Management extension to see how it can help you!
1. Product report
This feature will enable you to know which are the bestseller and how they have changed in a certain period so that your business is surely kept on the market trend. It also gives you good foresight at which ones you should focus on to gain best profit in the next term. Best-seller product reports are definitely must-have to make strategic plans in short-term as in long-term.
In addition, you can track the remaining stock in warehouse and the longest warehousing time products, so you can make proper decisions for each products.
2. Sales reports
How do profit margins compare across different periods of time? Are your sales volumes increasing steadily? The answers will be fully displayed via the reports with two different types of charts including pie and bar charts which illustrate your sales results in detail. You can easily control order status, reufund, invoice, payent methods,... These kinds of reports provides an overview of your business sales so you can utilize this report to make some prompt adjustment
3. Supplier report
Magestore Inventory Management extension will bring you a consolidated report of all items or even a specific item from particular suppliers so that you can keep track on the sources of your products and make investment approximately. Purchase reports should be compared with sales reports to ressure whether you are making right decision or not in case you may order a product with huge quantity while it gets low sales.
4. Warehouse report
It is quite difficult to control a lot of warehouse with the complicated flows of product transfers. But with warehousing time reports, it is not a big deal any more. You will be clear about the status of all the warehouses and how products are exchanged among them thanks to visualization of massive data through smart charts. Once you get all this information, you can make suitable changes for each warehouse.