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How to manage a multi-store
retail business with multi-store inventory management software
Multi-store inventory management software helps centralize inventory data and manage inventory across multiple outlets and warehouses efficiently from one place. You can track real-time inventory levels, raise orders, refill racks on time, and manage your business without stockouts with a multi-store inventory management system.
By recording every stock movement, you can ensure increased data accuracy and transparency to make informed business decisions and achieve a higher ROI.
Learn moreBenefits of multi-store inventory management
Get centralized
inventory control
Gain complete control over inventory across multiple outlets and locations from a single place and manage stock distribution centrally based on demand using a multi-store inventory management system.
Ensure faster
order fulfillment
Prioritize internal transfers between stores and warehouses based on stock movement to minimize the investment, reduce the inventory holding days, receive items on time, and avoid expiry.
Replenish stock at
the right time
With multi-store inventory management software, monitor stock on the racks and sales counters, forecast demand, and refill stock on time to avoid stockouts and ensure seamless customer experience.
Flexible repacking
as needed
Inward items in bulk at the warehouse, record them, and repack them into smaller quantities as per the demand. In this way, avoid frequent purchases, get price advantages by ordering in advance, and avoid spoilage.
Minimize stockouts
and overstocking
Analyze the sales pattern, track stock movement, and plan optimum inventory with a multi-store inventory management system so you won't face stockouts or overstock items.
Seamless omnichannel integration
Manage sales across multiple channels efficiently with real-time inventory sync, set different cost conditions for different batches and sales channels, and enable your customers to place orders reliably with accurate stock availability.
Key features of multi-store inventory management
- Inventory
- Returns
- Offers
- Reports
- Barcoding
- Security
Inward and track inventory centrally
Collate requests from outlets and raise centralized purchase orders from the warehouse. Inward goods centrally at the warehouse, record inventory for bulk items, and repack them into smaller quantities as needed. Distribute stock to outlets with accurate tracking for every stock in and stock out.
Manage returns and waste easily
Record batch-wise damaged and expired items accurately and track them with separate waste record entries. Handle returns for those items easily and make price adjustments in subsequent transactions accordingly. Get real-time inventory adjustments and have them posted in your accounts automatically.
Liquidate stock faster and secure your margins
Analyze stock holding days with stock aging reports, make strategic decisions to bundle slow moving items as kits and combo packs, and liquidate items faster. Run centralized offers on items with long holding days and sell them before they expire. Promote the offers via WhatsApp and SMS for a wider reach.
Make informed decisions with analytical reports
Monitor opening stock, closing stock, stock-in, and stock-out with stock ledger reports. Get a holistic view of inventory including item-wise current stock, stock value, category, and margin with flash stock reports. Get more insights from 30+ reports on inventory such as top N productivity reports, stock adjustment reports, and more.
Track inventory accurately across the supply chain
Generate unique barcodes for private labeled products with a built-in barcode generation feature and batch-wise EAN codes to eliminate human errors and track inventory accurately. Create custom barcodes in your preferred language so your staff can access inventory easily during stock auditing, picking, and inwards.
Ensure increased security and transparency
Send notifications to headquarters (HQ) for any stock adjustment at the outlets and configure the HQ approval process for adjustments to avoid theft. Set approvals by inventory managers for stock-in and stock-out to ensure every transaction is verified. Schedule out-of-stock alerts for staff so they can refill the racks on time.
Scale confidently with vertical-specific ERP solutions
Looking for a multi-store management system tailored to your retail segment? Gofrugal offers end-to-end solutions designed specifically for your industry. Explore how our multi-store ERP helps you manage chain operations with precision.
Gain complete inventory control with dedicated mobile apps
GoSure StockTake
- Perform perpetual stock audits across all outlets and multiple locations without closing the store during year-end processes.
- Audit items even during busy business hours and correct discrepancies with easy stock reconciliation.
- Simplify the stock audit process with automatic task assignment for staff based on their availability and reduce the audit time.
- Ensure 100% accuracy in stock audits with built-in barcode scanners for batch-wise stock count of products.
- Record stock of damaged and expired items accurately through the mobile app for easy returns and seamless reflection in the accounts.
GoSure GRN
- Raise purchase orders on the go without supplier influence, map them to invoices, and reconcile any variations from your mobile.
- Inward items quickly and accurately with a barcode scanning-enabled mobile app and ensure items reach racks faster for hassle-free sales.
- Track purchase history, analyze past purchase prices, and make informed decisions on raising orders to suppliers from anywhere.
- Handle purchase returns through your mobile, update inventory in the system in real time, and make adjustments during subsequent purchases.
- Enable your least skilled staff to record received goods through the parcel entry feature and easily convert them into a goods received note later.
GoSure StockPick
- Pick multiple customers' orders faster at once by consolidating the order for the same items and service your customers quicker.
- Ensure accuracy and accelerate stock picking with a built-in barcode scanner to pick items based on batch-wise items ordered.
- Track the status of order picking from anywhere with real-time status updates and enjoy the flexibility to reassign the task to staff based on their availability.
- Automate stock picking tasks with smart task assignments to staff based on their availability and ensure order fulfillment with minimal supervision.
- Handle orders from multiple channels easily from a single dashboard and deliver items accurately.
Why is Gofrugal the best software for multi-store inventory management?
Gofrugal is the best multi-store inventory management software because you can:
- Manage inventory centrally from your warehouse with complete control and visibility.
- Raise a single centralized purchase order as needed, inward items, and handle inventory at the warehouse efficiently.
- Handle goods inwards at the warehouse, stock transfers between outlets, and stock allocation to outlets seamlessly, ensuring on-time inventory availability.
- Perform stock audits, stock picking, and material inwards easily and accurately with dedicated mobile apps.
- Manage waste, damage, and expiry easily with real-time stock updates and ensure hassle-free sales.
- Handle returns from any outlet easily and provide a consistent brand experience to customers.
Read a few success stories of efficient multi-store inventory management
With Gofrugal's ERP, managing my multi-store business has become easy. Using centralized data, we can control everything, including barcodes and stock transfer from the warehouse location itself.
Mr. Nirav Meswani, Proprietor
Surprise Home Linen
Accomplishing accurate stock transfer is a challenging task. With Gofrugal ERP, we have an accurate stock transfer that saves time, labor costs, and unwanted paper costs.
Mr. Manshu Parik, Manager
Bhakti Pujapo
With Gofrugal POS and GoSure app I'm able to monitor the stock auditing across 12 outlets centrally. Now we have complete stock control with increased employee productivity and there is no out of stock as well over stocking.
Mr. Senthil Kumar, Manager
Shivling Supermarket
Some customers who found success with our multi-store inventory management system
Overview of multi-store inventory management software
What is multi-store inventory management?
Multi-store inventory management is a process of tracking, managing, and controlling inventory across multiple locations, outlets, warehouses, and sales channels.
Why is multi-store inventory management important?
Multi-store inventory management is important because it tracks stock instantly, forecasts demand, enables stock transfers between outlets based on need, and lets you plan purchases in advance to ensure zero stockouts and happy customers.
How does multi-store inventory management help with demand forecasting?
With multi-store inventory management software to capture a granular level of inventory movement, you can track outlet-wise sales, returns, and online order volume. You can analyze past purchase histories, seasonal sales trends, and current stock levels. This comprehensive information helps you forecast demand accurately.
What are the common challenges of managing inventory in multiple locations?
Inventory distribution across multiple locations can lead to a lack of real-time visibility, inaccurate demand forecasts, and imbalances in inventory levels. It can cause high operational costs, increased staff salaries, high logistics during material transfers, and high reverse logistics during returns.
How does multi-store inventory management software help reduce inventory holding costs?
Multi-store inventory management software provides real-time stock levels across individual outlets and warehouses, enabling you to sense localized demand and procure precisely without overstocking or understocking.
It provides smart suggestions to transfer stock between stores based on stock movement in individual stores, so you utilize on-hand inventory effectively before they expire and reduce inventory holding days.
How does multi-store inventory management help in omnichannel retailing?
With a multi-store inventory management system, you can manage inventory across multiple locations, warehouses, and sales channels efficiently with real-time inventory syncs across all platforms.
It enables your customers to browse items online, place orders from home, and pick up items from the store or opt for home delivery, providing an omnichannel customer experience. Customers can handle exchanges and returns either online or by directly visiting any outlet for a seamless experience.
How can I track inventory in real time across all my store locations?
Using cloud-based multi-location inventory management software ensures inventory across multiple locations is synced in real time. Integrating multi-store management software with mobile apps helps you gain complete inventory control from anywhere. Integrating the software with barcode scanners ensures fast transactions and quick inventory updates.
Can I manage stock transfers between outlets without manual updates?
Yes, you can manage stock transfers between outlets without human intervention by automating the entire inventory management process with AI-based demand forecasting, auto indent-wise replenishment, and smart stock allocation.
How does the system prevent stockouts or overstocking at specific outlets?
You can set outlet-wise reorder points to automatically raise requests when inventory reaches a critical level. Using multi-store inventory management software, you can track current stock levels and raise orders for optimum stock based on different conditions to ensure you neither under-stock nor overstock items. The system will suggest internal transfers between outlets, which helps you utilize on-hand inventory efficiently during sudden demand and avoid stock-outs.
Is it possible to set location-wise reorder levels and alerts?
Yes, you can set location-wise reorder levels and alerts with a multi-store inventory management system. You can set minimum and maximum inventory levels for each outlet and configure the system to trigger an alert if the stock reaches a critical level. Based on the alert, you can raise a purchase order to the supplier.
Can I view consolidated and location-wise inventory reports in one dashboard?
Yes, you can get a consolidated view of inventory with a flash stock report in Gofrugal's HQ solution. You can track location-wise inventory with dedicated reports. The common dashboard in HQ is completely customizable based on your need, and you can configure the required reports in the dashboard for quick reference and action.
Will it support barcode-based inventory management across multiple stores?
Definitely! You can manage inventory across multiple stores accurately with batch-wise unique barcodes. You can also customize barcodes with relevant information and print them in your preferred language as needed. This barcode-based inventory management helps accelerate billing, increase accuracy in operations, and track inventory easily.
Is the system scalable if I add new locations or warehouses?
Yes, Gofrugal's solution has a hybrid and robust cloud architecture that can scale as your business grows. You can add new locations and warehouses, allocate stock quickly, and kickstart operations in new locations immediately.
How to experience Gofrugal's multi-store inventory management software?
Gofrugal offers 30-day free trial of their solution to enable you explore in-depth inventory features. Download the trial by clicking below