1. REAL TIME STOCK TRACKER DEFINITION

Real time stock tracker, often known as real-time inventory management, could be defined as the process of recording purchases of inventory constantly, which enables businesses to gain insights of current inventory as well as to develop a faster response to immediate supply chain needs.

A daunting fact for business owners: 52% of consumers doing online shopping once knew that only one item in their cart is currently out of stock would abandon the whole cart. Even more daunting, only 17% of them would have another shopping experience with that same business.

2. REAL TIME STOCK TRACKER BENEFITS

• Develop business

Real time inventory tracker plays an important role in supply chain optimization, which eventually results in business success. While immediate restock might be impossible due to logistics physical limits, real time stock tracker could act as the best alternative for businesses to easily gain control of their inventory.

• Gain business insights

Tracking inventory in real-time also allows businesses to get dropshipping product ideas.  They can find those products in high demand as well as the specific times of high demand, which could be extremely useful for further business development and marketing campaigns.

Also, real time stock tracker could help ease up the task of finding the bottleneck in the inventory flow. By identifying such delays in the sale process, businesses would be able to track down the original issues, thus preventing potential losses.

• Deliver a satisfactory experience for customers

Good real-time inventory management could also help deliver the best experiences to customers. In some cases, it could help create an incentive for wavering customers. For example, eCommerce businesses can inform their shoppers of the quantity of items currently left in stock. When customers saw copies in red saying, “Only three items left” and such, this would create a sense of urgency inside them, thus making them purchase the product and increase your sales.