Managing inventory for an e-commerce business is a big challenge, especially when selling valuable items like gold, silver, and platinum. Without a real-time tracking system, businesses can struggle with issues like overstocking, running out of products, and even losing customers to competitors. Agami has developed BullionStore, an e-commerce website tailored to handle these unique challenges in the precious metals market. In this blog, we’ll explore some of the common inventory issues that online stores face and show how BullionStore, effectively addresses these challenges.
- Issue: Showing Real-Time Stock for Precious Metals
In an e-commerce store like BullionStore, which sells precious metals like gold, silver, and platinum, accurate inventory tracking is very important. Since precious metals are valuable and often have limited stock, Customers need to see the real-time stock levels to make informed buying decisions, especially for items that may run out quickly.
BullionStore, developed by Agami, lets admins add products and manage stock efficiently. Once an item is added, it shows up on the website for customers to buy. It also shows how much of each product is left. This builds trust by keeping customers informed with real-time stock updates, which is essential for high-value items like precious metals.
- Issue: Losing Customers When Precious Metals Are Out of Stock
In BullionStore, where we sell precious metals, some items have special designs or come in limited collections. These items can go out of stock very quickly, and this can disappoint customers, who might go to other stores instead.
To keep customers interested, BullionStore has a “notify” button on out-of-stock products. When customers want an item that’s not available, they can enter their email to get an alert as soon as it’s back in stock. This way, customers don’t miss out on their favorite precious metals and feel more connected to the store, helping to bring them back for future purchases.
- Challenge: Quickly Updating Inventory for Canceled and Returned Orders
For an e-commerce website selling precious metals, it’s important to update inventory whenever an order is canceled or a product is returned. In BullionStore, this process is made simple. When a product is canceled or returned, the admin just marks it as canceled or returned on the admin’s order page. The system then automatically adds the item back into inventory, updating the website right away. This means admins don’t need to manually adjust inventory, making the process faster and ensuring the product is available for other customers to buy.
- Obstacle: High Costs and Risks from Overstocking Precious Metals
For an e-commerce site selling precious metals, keeping extra stock is costly and hard to manage. Overstocking means admins need to carefully watch inventory, which takes time and space. In BullionStore, we’ve added a “just-in-time” (JIT) inventory system to help. With JIT, products are ordered only when needed, reducing storage costs and waste.
For products using the JIT (just-in-time) inventory system in BullionStore, there are two types of quantity value: a “shown quantity” that displays on the website for customers and an “actual quantity” that only the admin can see. This setup helps the admin know how much stock is left and easily orders more from vendors when needed. With JIT, BullionStore helps avoid overstocking while still ensuring that products are available for customers to buy.
Conclusion:
BullionStore an e-commerce website which one is developed by Agami provides solutions to common inventory challenges in e-commerce. With real-time stock updates, automatic restocking for canceled and returned items, and a just-in-time inventory system, BullionStore helps how other e-commerce websites keep track of their products. These features make it easier for e-commerce websites to keep customers happy and manage their inventory smoothly, helping them stay competitive in today’s fast-changing market.